Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-01-05
oTbe pubItc-gpfrff CIub."

"The PubIic-spirit CIub."
To the Editor Of the Dispatch:
The editorials I'm your issues or the
% and "a instant-"AdjOurn From TAX
10 Work" and "A New Club Needed'-
wefe both read with pleasure and interest,
and particularly that feature Ia reference
10 the formation OF COMPANY whose
business a would be TO promote the es-
enlistment Of new enterprise in our
oitv During the last half ~ $50 con-
surned quite a good deal OF time in an
endcavor 10 create an interest in just
such an organization. but met with no
practicai encourag cement. though the opin-
ian of every one with whom ] spoke was
'If IS a good thing" ] cannot say inat
nay work then VIII account for the sug-
eegfion in your editorials, but IL was
matter considerably discussed az the
time menuoned and, though nothihg
came of It then. yet ii Is to be nopea
good results may now come aoOu.
through your efforts. which. by the way
are so heartily ana Commentary 7e0O""-
ed by the State.
II NAV be OF interest TO know something
Of the plan at an earlier date than 1870.
In the early part Of 1859 the plan Tor
e.1ch an organization was under discus
SON and l now have some OF the papers
Drerared at that time; one OF them III
tI.. b,ndrcriting Of now deceased busi-
ress-rnan. than whom no one in the CITY
stood higher. who was sagacious ana lar-
seeing. public-spirlted, ana wealthy; anu
as he believed. the company "oulu pe
profitable to the stockholders ana OF
great material benefit TO the cry ana
state. it would, no doubt nave peeH
tbinr ACCOMPLISHED. and i'm active opera
nj
uutimely death.
ma. following were some OF the pro-
,i-ione and IDEAS evolved IN the discus
sion of the plan in l'o9' .,.,-
To supply capital TO individuals ol
companios who need capital 10 extern
tbelr bus,ness. and who. with added cap-
tai would be enabled TO proniaoiy ia
crease their business; and TO supply cdp'
tai to new enterprises.
The advantages Of such a company 10
community are many an o,d
il viii enlarge present meicahlils anu
manufacturing concerns. ,,.-,.,..
II viii bee the means OF eslanl'9'l''7
many new concerns.
II will supply capital for labor ana a..
the least possible risk to capital. ana VIII
supplv labor and enterprise with capllal
,,rdor the most favorable conditions 10
both. labor and enterprise.
II viii add materially to the prosperity
~ our city and state by increasing the
number of manufacturing and mercahthe
establishments. thus greatly enhancing
the value of real estate.
IL will bring many new men in our
midst-manufae turers, merchants anu
skilled labor chiefly.
II will stimulate energy and ehoft on
the mart of our young men. as kuowl-
edge that their savings viii be added 70
bv this organization IL they have a IA
voralle ulan for business 70 Offer ana
thew thus be enabled TO establish them
selves I'm business az q much earlier pc
riod OF life than they could under any
other conditions.
II viii assist many deserving parties.
IT will help to keep investors informed
about different enterprises, give them
more diversified interests, and thus en-
nance their usefulness TO city and state.
II IS believed it will Dee profitable to
stockholders.
The company shall be called the Rich
mond Loan and Investment Company.
Capital to be $4,000. with richt TO M
crease to 10000. Assessments on stock
subscription to he made as the demands
Of the company shall require.
The capital Of the company and the sur
plus. when created, TO be invested In
manufacturing. mercantile. or other On
tcrurises I'm the city OF Richmond or state
Of Virginia which. I'm the judgment OF
the directors. appear safe and profitable
and said enterprises may be either al
ready established or 20 be established.
The management of the company should
be in the hands of a chief executive Of
fccr. who should be a salaried man. or pro-
badly better, paid a salary and commission
on profits Of the company, and board Of
directors. Of five or seven. elected from
the stockholders. All applicants for CAPT
tai must furnish the company a full
written statement of the nature Of their
enterprise; number Of employees; whether
employees are skilled or unskilled, white
OF colored: whether labor can be secured
here or Will have 10 be brought from
elsewhere: capital required. and amount
of capital the applicant viii invest; pro-
spectve profits: and if desired. appear
before the Board of Directors and am
swer such questions as they may wish
TO ask
Such IS q brief outline Of the company
as fl was originally proposed; and f. Is
to be hoped il may now take shape and
good results come Of this agitation. IL
is a matter we'll within the province of
the Chamber of Commerce. and with its
countenance and support such q company
could. no doubt, be formed.
win be glad 10 go more fully into the
matter on my return. a few days hence
from the North if there be any who wish
to take it up w. VI. G.
January 4 1881.