The record-union., 1893-03-27

$4,000 $99'999 $500 9so i9s75o0 i0o0o i35oo0o
Referring to the difference between
subscribing to shares of stock and offer
ing cash bonuses, Mr.. Lubin said:
''There is the most marked difference
possible for a 10000 bonus will 60 as far
as $780, 900 in shares OF stock, and as our
field for obtaining money is limited we
should aim to get as much benefit as our
limited means will permit.
Now let us reverse this thing, and in
place of using $500, 200 for bonuses, let US
use it in starting an enterprise like, say
the Buffalo Brewery, for instance. We
would find that S30J,0O0 would not be half
enough to start in with, and even if we
could raise half a million or more OF
money we would only have a factory
employing from fifty to a hundred men.
Hence all must concede that $4,000
bonus and a free site Will do for us what
several hundred thousand dollars can do
on the share-buying plan"
Asked if free taxes, free water, free sites
and cheap power would bring factories
here, Mr.. Lubin said:
mo; not unless we are willing to paw
q bonus, and large one, TOO. If we are
in earnest, we must do just what other
enterprising localities have done-either
subscribe Tor shares of stock, or give
bonus, and bonuses are by far the best.
"As TO going slow and giving the mat
ter trial on a small scale, as some Sug-
gest, that would not work. The small
amount would attract no attention, anC
would only bring one or two competitors
and the result would be that we woulC
probably pay very large amounts for in
different concerns; whereas, the publica
ton that we have $780, 900 for bonuses anC
free sites, with rapid and cheap trans
portation. and that Sacramento is seconC
only as a distribution center TO San Fran
cisco, with motive power below the nor
NAL staudard-these advantages will tenC
TO arrest attention everywhere, and brin,
to the office of our association applica
tions from among the best in the coun
try
cessity for a tirst-class hotel ?''
1--WE, of course, need Il first-class hotel
and should give a bonus to get one her
inst the same as we would for factory
but there is danger that the factory propo
sition would be nullified if citizen
should be asked to subscribe for share
of stock Tor hotel. The field is to
limited for subscriptions for both share
OF stock and the collection of bonuses
one or the other can be accomplished
however"
"What effect, in your opinion, woul
the establishment OF these factories hav
on the city?'
IF you mean by the bonus plan this
depends upon the amount subscribed. !
$4,000, or even a 100000 fund, Will
beneficial, would not have perceptibl
effect, but a $500, 200 subscription woul
produce some startling, grand results
for it would mean an increase to th
population of 4 4,5O0 and place in circuls
lion 81 ,237, 800 more than is now in Gil
culation. This will tend to transforr
the shabby houses in the business quartz
into modern and costly buildings.
would tend to enhance the value of re;
estate in every quarter of the city and j
suburbs, and labor would be plentifl
and wages firm.
The bonus proposition is not charit
nor philanthropy-it is purely busine
proposition. BY the method propose
we could buy municipal and county pro-
perity at fixed rate on the dollar, ju
merchandise"