The record-union., 1892-07-06

opment of business in said locality, and
that they assumed responsibility and
gave the enterprise necessary attention.
with view OF offering the best possible
lnducement to secure the planting OF fruit
at once upon scale TO encourage further
enterprise of the kind.
1T was shown that the purchaser of ten
acres would be called on to pay down
SI50, and during the next thirty-siX
months he would have paid $40 more.
Then if instead of yielding $3.50, as it was
reasonable to expect for next two years,
his orchard only netted $50, the land
would be his at the end of five years. If
he had kept on laying aside SIS per month
for the fourth and nth years in a build
ing and loan society he would now have
nearly $500 with which TO put up his
buildings
These five years saving of an amount
not beyond the reach of any teacher,
clerk or mechanic, or of most laboring
men, place him in possession Of home
likely to increase steadily in value and
give him 81 600 yearly income, where he
IS his own master. The solicitor visited
some quartz mines, addressed meeting
of miners, distributed his prospectus
freely and placed fifty ten-acre bonds in
two weeks. In the meantime some APP
plications had come into the office. Ten
or twelve of the teachers in the county
had taken bonds. Some farmhands had
bought and in thirty days the thing was
settled.
During the three years six or eight of
the subscribers were delinquent in their
payments and their shares were sold at
auction to those who paid them good
advance and completed the terms of their
contract with the company. In the first
place the sale of stock from the ranch
provided 5000 for contingent fund. The
$3.50 realized for machinery paid for in
corporation, legal advice, advertising and
solicitor. The SIS per acre down paid
| the contractor for planting, and the
monthly payments lett Sl00 IOr Superln-
tendence and contingencies, after paying
the contractor and the interest account.
The crop of the third year paid for six
months cultivation from expiration of
contract until fourth years crop was
marketable. Crops of the fourth and
! fifth years, besides paying the $50 per
acre Tor land, left the shareholders a
| balance Of $50 each, or So per acre TO add
TO their building fund. That they had
not expected. AS the fruit had been
sold the cOmpany's note for land had
been paid, and collateral notes. from
which no interest had been asked, sur
rendered to stockholders.
Now all this time the original company
had been holding these meetings, fur
nishing security, and giving attention to
carry the business to q successful issue,
without planning to make anything from
II directly. Pure philanthropy" you
say; bread cast upon the waters; i'm
practical-nobOdy on velvet"
The planting OF this thousand acres was
instrumental in promoting the planting
of 500 more, that would not otherwise
have gone out the first year. Next year
another thousand followed. The fourth
! year a canaery went up, requiring hum
dred hands the first year, and doubling
! H. IL
ing. These hundred shareholders settled
on their homes in families averaging five,
and their influence brought in i've hum
! dred more of their friends within the first
two years of their settlement.
! Two firms sent representatives to buy
fresh fruit for shipping, and competed for
! the purchase of dried fruit. Instead OF
| having thousand in the town and two
thousand in the country, they had four
| thousand in the country and fifteen hun
/ dred in the town.
Brown, the blacksmith had only 81 900
! invested in his business and gave his
note for 500 when they formed the COM
pany. Then he used to take in 500 per
month from his own labor. Now he hires
a journeyman tor $50 a month and takes
in 500. Jones, the merchant, had Sl0,-
coo invested in his plant and made sales
Of 81, 900 per year. With the same store,
and the same clerks, by ordering goods
oftener, he now sells $4,000 per year.
| The bank had $4,000 capital $4,000 de-
posts and all the loans it could accom-
nodate. Now it has the same capital,
500, 600 deposits, and loans are as active
as ever. From the very start the orchard
added % per cent to its business. The
Backbone had 800 subscribers; now it
has 1000. Farmer Grimes had been try
ing for years to sell his place for $50 per
acre. Now he has planted some orchard
and paid off his mortgage, and last year
he refused 500 an acre, for he says now
that things are lively. Fair Alden" is
good enough for him.
Every body is on velvet now" said
the Backbone in an issue giving the his
tory of the enterprise, and the harsh criti-
cism that came so near overwhelming it's
projectors and the resultant prosperity.
He who laughs last laughs best" Per-
haps some of these figures and methods
may be applied to other places in SINH
lar condition. FRANK S. CHAPLIN.