The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1893-06-15

The strlngency in money matters
affected the ManItowoc Seating Go. as it
did all other concerns. It began opera
| tons at a very uufarorable time becaus
OF the difficulty IN securing the credit
necessary for carrying on its business.
Its working capital was exhausted in the
purchase of raw material and money was
hard to obtain. The plant was free from
debt, the raw material and manufacture
ed stock on hand were worth twice the
| Indebtedness of the concern but it seem
! ed impossible TO raise money. Orders
were pouring in without solicitation and
| the directors were almost at their wits
| ends as 10 how expenses should be met
Just as soon as the stringency eased up
| little IN the money market, another
effort was made to secure a line OF credit
and the effort proved successful. When
the dangers attendant upon the panic
had passed, the business men OF the city
responded to the needs OF the factory
with genuine public spirit and the fac
tory has now passed its first crucial test?
those who came to the relief OF the
factory have given the interests OF the
city an impetus which if kept up will
surely conduce to prosperity. To act
with decision and to render assistance in
a period of financial distress are much
more indicative Of progress than is pub
lie spirit IN q season of prosperity. The
cleaning out process Of the last few
months by the drastic process of financial
disaster, has introduced a period Of tran
sition IN the business affairs of the coun-
try. 1t means a new start with the adj
vantages OF past superiority reduced to
minimum. The credit business carried
to excess has received q check and the
establishment Of Industries on the hopes
OF the future has ceased. Facilities for
conducting business, and not the bonus
will now appeal 70 those who are com |
petent and able to conduct the business |
thep contemplate following. Mauitowoc |
with It's own industries managed by It's |
own capital and controlled by its own
citizens has now one of these opportuni- |
ties which come but rarely to city. A |
little activity IN these times of depression |
means d big start when prosperity re-
turns. a dollar can do more now than |
ten can when prosperity is general And |
besides the habit of effort formed under |
difficulties becomes second nature when |
difficulties are removed. It is now the |
time to gather our resources and make |
them active for our own and the general |
good.
Our harbor is practically unused this
summer, due to the general depression. |
Commerce, when 1t revives, will have sever
ed allegiance to old lines and will flow in |
the direction of least resistance. Those |
places which viii attract it first Will hold |
it without question. Ia this connection
the city council should act us the true
representative of the people. If the rail- |
road company purposes making use of
the lake front SO as TO enlarge the COM
mercial advantages offered by Manitowoc,
1t should be given all the latitude con- !
slstent with the preservation of large in
teTests. No petty consideration should |
be allowed to stand in the way OF an en-
terprise which promises SO much 10 the |
city. The city council should rise above |
little things and look upon matters with |
the broad view of people having regard |
to the possibilities of the future. The |
members should act for the people at
large and not pursuant to some whim or
groundless prejudice. Anything which |
may contribute to the prosperity of the |
city should be eagerly welcomed.