The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-15
TO PROMOTE INDUSTRIES.
An Organization 20 Bring Capital
Here Proposed.

The organization OF an association SINH
lar 10 railroad construction company
for the promotion Of manufacturing IN
Savannah has been talked Of by a number
OF business men. Savannah has a great
deal Of capital available for Investments.
and manufacturing yields the largest re-
turns. but capital is always timid.
we need an association" said we'll
known business man, similar 20 what a
construction company would be to a pro-
jected railroad Its object would be to
stand between the investors and the new
manufacturing enterprise. It would be
strictly the business of such an associa-
ton to investigate and look closely into
the merits or dement's Of any enterprise.
and only when the association is fully
satisfied that the enterprise stands a
fair prospect Of success and that
the venture is both practical and profitable
would 1t indorse It by subscribing some
stock as a starter, say 5000 to $1O,n0, be-
sides recommending II TO the public
Inc association could also undertake,
Tor reasonable compensation, 10 canvass
Tor additional stock, as a stranger coming
here can hardly be expected TO attain
much success for new enterprise with
out ample local backing. 1t is much easier
10 explain the merits of an industry 20 a
board of directors, who are practical men,
than 10 great number of individuals.
The association could also act as trustees
Tor manufacturing enterprises, should such
enterprises prefer to issue a limited
amount Of well secured bonds"
Flve thousand to ten thou
sand, it is estimated would be
sufficient TO start such an organization,
as it probably would not be called
on TO take more than 10 per cent. or 20
per cent. in any enterprise for its own
account so that 500. 900 would probably
induce the investment Of $4,000 or s., 0O0,-
900 in new industries.
Savannah has ample material amongst
its business men for a board of directors,
whose judgment and honesty OF purpose
could always be relied on.
The citizens Industrial committee
IS to advertise Savannah's advantages,
and thereby encourage new industries.
What is now needed, said a business
man, Is an organization that will take
hold of such new enterprises as the in
dustrial committees advertisements may
bring here. For instance, several citi-
zens who are interested propose to start
or encourage, say a furniture factory.
They apply to the association and donate,
say site, for the purpose. The repre-
sentatives of the association inquire what
the cost of the raw material is.
the wages paid to woodworkers the de-
mand and prices for furniture the cost
Of transportation of furniture from Mich
igan TO Savannah and other data. II
after investigation they find that the ven
ture Is likely to be a profitable one they
subscribe something like 5000 or $40, 900,
which added TO the value of the site and
subscription from the owners of adjoining
real estate would form a nucleus. The as
ISOLATION can then 90 ahead and advertise
Tor competent man or party of men
with. say $4,000 to $4,000 to invest, and
who will understand the technical part
of manufacturing. To advertise for new
industries without being prepared to give
tangible support is of little avail.