The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1894-09-07
4 PRUDENT INVESTMENT.

The sale of the Corvallis Car,
riage works to syndicate Of east
ern capitalists is worthy of more
than passing notice. Like many
new enterprises the company met
with reverses. The fifty thousand
dollars was invested by local share
holders has been lost to the indi-
vidual subscribers; but under the
new management, which will be
composed Of men of experience
with ample means to develop the
business into large and paying
industry, the community will be
we'll repaid for its losses. 70 the
many enterprising citizens of Cor
Wallis who lost their money i'll
establishing the business, the COM
munity owe a deep debt of graft
tude. They will share in the
benefits that will accrue to the
town only. proportionately with
those who invested nothing. Their
money is gone, yet the entire
county is benefited by their
losses.
Because the business failed no
one familiar with the ci cum
stances will say that the commo-
dious and we'll equipped plant is
monument erected to the folly
displayed by the original promo
ters of the enterprise. 1t is In
stead memorial to the folly and
lack of enterprise displayed by
the persons who were in posi-
ton to help the industry along
and would not do9-so. Possibly
the business was not, managed in
the interest of the stockholders as
it might have been, still in 1893
when the assignment was made,
their statement showed several
thousand dollars of undivided
profits which had, gone into ma
terial. The business was paying
well, Yet it went into an assign
ment for lack of cash with which
to meet current expenses because
money could not be realized on
the stock of material. Citizens
were asked to subscribe $4,000 ad-
dilional, which amount would
have tided the company over.
This sum was not furnished and in
consequence the business collapsed
and left its promoErs fifty thou
sand dollars poorer BY the opera
ton. There can, however, be no
slurs cast at the business judg-
ment of the enterprising indi-
viduals who started the industry
ev en- though it did fail. The fact
that experienced carriage and
wagon manufacturers are willing
to put their money into the con-
cern, is an evidence that the bust
ness sagacity of the organizers of
the company cannot longer be
questioned and that they did not
err in locating the plant at Cor
wallis instead of some more pre-
tentious city.
The business is now to be
placed on firm financial basis, to
be operated by men of skill and
experience, and managed by per-
sons familiar with all the ins and
outs of the trade. This willsgive
to the industry new life and as
sure its owners ,of success. The
merited reputation which the fac
tory now enjoys for turning out
nothing but first class work will
be retained by the new proprletors.
It's business will steadily increase
until it controls the carriage and
wagon trade of the coast. AS its
business improves additional en-
ployment will be furnished and
soon the monthly payroll will
amount to thousands of dollars.
1t will bring Corvallis to the no.
tice of the world and attract to
her borders numerous industries
with their attendant increase in
population. It will give renewed
life and activity to trade and will
cause Corvallis to assume an air
of commercial Importance hereto
fore unknown. Then will the
community realize that the fifty
thousand dollars spent in the en-
terprise was a wise and prudent
investment after all.