The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-07-21

our hands by the members of the as
sociation for safe keeping as in a saw
ings bank. This reduces the present
worth of the plant to $50 9,O63OS. This
Is no fanciful, altruistic value. 1t in
cludes the tillable farm of sos acres and
a tract of grazing and wood land of
1000 acfes-real estate to the amount
of 1,5O5 acres.
There is another salable asset about
which there is no doubt. 1t is the print
ing establishment, with a newspaper
whose weekly circulation is more than
30,OO0-a circulation big enough and
bona fide enough to make the Ruskin
postoffice pay one of the largest saiar-
les among the smaller towns of the
state. This plant includes perfectlng
press of the latest pattern, complete
stereotyping outfit, an engraving de-
partment and publishing department
that makes it compulsory to buy paper
in car load lots-and the paper COM
panies will tell you that we have taken
all the cash discounts on every shipment
made to us. There Is no more question
about the value of this asset than about
the value of the land itself.
DIVIDEND PAYING PROPERTY.
THE grist mill, free from debt, earns
cash for the association three days each
week. The sawmill is paying good
dividend. The suspender shop has sold
10000 pairs to the trade this year. This
! department is free from debt We have
a general store which is getting all the
trade of the section for miles around.
The stock in it was paid for at deliv-
cry and it is one of the best stocks in
the county. It brings in money from
the natives, in addition to supplying
goods to our people at absolute cost,
plus the labor of the storekeeper. 1t
Is not going to get us involved, since
we run on the safe principal buy moth
ing unless we have money in the safe
to pay for it.
This is the statement of resources,
not including the thirty-seven cottages
that we have built, the building for tie
workshops and the three-story house for
the cooperative hotel, boarding house
and theater. We dc not pad the re-
sources on the theory that the value of
our property has increased because VIC
are here, and the value of other prop
erty has gone up in view of our
prospect of redeeming great stretch of
land which has been indifferently cul-
tlvated or left to savagery. We are
not placing values on the future of the
coIony-the prospects of money making
in the caves, the wonderful springs, tie
cliffs and the scenery when we shall
be able to establish here our college
women who want to live fer a time in
labCr's paradise.
There is another. way to figure the
financial success of this commonwealth.
We have at present IS stockhol lers in
the association. They bought their
shares Of stock for $500 each. 1t is
an easy problem in ari-hematic to see
| that the present worth of each share,
| as shown by the statement with the
| secretary Of state, Is d little more than
| 1851. 1t would be possible at this time
| for the stockholders to vote themselves
a dividend. They have considered the
| question. A majority has determined
| that since the acquisition of personal
wealth is no project Of Utopia all funds
| shall remain In the general treasury for
| the advancement of The whole colony
SUIT FOR A RECEIVER.
''It is true that the Ruskin Associa-
| ton has been threatened with lawsuits
| from the beginning, and there are two
| pending now. One suit on the docket
| asks for a receiver and an accounting
| of moneys The othe' is suit III which
| justice threatens to sell the stock of
Two members to satisfy judgments for
| debts contracted before they joined the
| er the least about, having our annual
| statement on file, that we paid $4,000
| cash on farm mortgage June l, and will
| pay $4,000 on the same debt Jan. l..
! solvent. We are able at this moment
| to &C into the open wholesale market
| and buy in carloads lots, without a
| question as to our ability to pay. This
| trouble comes from men who became
dissatisfied with the workings Of the
| community They were never adapted
! to living the life which socialism and
common justice teaches.
| "The second suit is something which
attaches no more blame to the associa-
ton than would garnis soee suit against
the emplcye of a ABROAD. 1t is to
| get pay for an obligation made before
the man and wife joined us. The JUS
tice is proposing to sell their sRares in
! the association. This suit we rather
| welcome, as under our charter the
shares are not transferable save to the
association itself. The purchaser of
the shares in case they can be sold
| would be entitled to q vote in the meet
ing of stockholders, but since no man
who has not been elected by an over
whelming vote to membership in the as
| snriatiOn carr share fts benefits we are