The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-15
FIELD, SCHLICH Sc co.

to exchange their bonds before Nov 1 for
their collateral security Temple stock? Was
il in order that the W. Q. T. U. might be re-
leved from the moral obligation OF paying
for the bonds? Did they not know that small
amounts Of stock scattered over the country
among hundreds OF holders was ruinous 10
its value under existing circumstances. and
the poor people who exchanged their bonds for
stock would not probably during tleir natural
life receive any income from III
The question may arise why then Is Il Of
value to acquire II for the W. Z. T. y? Be
cause we are negotiating TO secure 1t all and
this is good time TO It, when values have
so deprecated. After IL lie all secured we
I intend TO so TO the rich people of the coun-
try and get them 70 help US pay off the $500
900 mortgage on the building. When this is
accomplished the stock win be valuable and
will pay dividends.
Mrs. Carse critieises the general officers for
going to MIR. Field and bothering him about
the stock and sontinues
However, ! have the pleasure to present to
you today most generous offer from Mr..
Field As there has been 50 much said In
the papers he did not want me to make his
offer public until / presented It to this body
today.
Mr. FIELDS OFFER.
Chicago. IL. Nov. 2 1888
Mrs. Matilda B. Carse, President Board
Temple Trustees. City. Dear Madam: In
order to enable you to make clear and dea-
mite statement OF my purposes in the matter
/ OF Temple debt, for presentation If desired
TO the coming National ". c. T. u con-
vention to be he'd at 81. Paul, MINI. Nov
Il, 1928, would say that If the friends OF the
cause evince sufficient interest in the enter
prise, to subscribe amount that will pay
OF and cancel the remainder Of the issue Of
100000 Temple trust bonds outstanding, |
will in fuldllment Of my conditional agree .
ment OF Feb. 10. 1897. subsequently renewed
with regard to date Of expiration TO Jan. l.
1899, and which / an willing TO still further
extend TO Jan. J. 1900. give $50 010 in stock
and 70 further help the cause Will donate in
cash 5000, same TO be applied towards the
payment OF 1000 floating debt and $50 900
interest on the first mortgage bonds, which
Will be IN arrears on Dec. /. 1898. Should the
Temple trustees decide TO abandon the n
void
In the event OF the acceptance OF this
proposition. must be understood that 1
10 retain control OF majority Of the stock
OF the building 30 long as the fret mortgage
bonds OF 100000 remain a lien against the
same, and are held by the Fleld-Columbian
-"MarshsIl Field
HIS offer IS certainly most generous. and
stimulates effort In the hearts Of all who de-
sire 70 make the Temple
MISS WILLARD's MEMORIAL
You notice he gives us until January. 1900.
to pay Of the Temple trust bonds. When this
is accomplished he gives 300, OGO $4,000 in
stock and $4,000 In cash. the latter to be
applied 70 pay on all floating debts
on the building. caused by the past
years OF financial disaster. This is
most helpful, az # stops the outgo
o. interest for loans. When the Temple trust
bonds are paid off we can count with what
stock wa have on hand and pledged beside
other stock ! know can be secured, $4,000.
The stock account would then stand 20 fol-
lows: Released by the payment Of Temple
trust bonds. 1890, coo. NJ. Marshall Fields
other stockholders, $50. 900 In the hands Of
Temple trustees. g. 600 Total 1913, coo. Stock
OUTSTANDING S179 400. This I am sure we could
buy for very low figure as II Is all held.
with the exception OF one individual BY
rich men. Probably for a sum not to ex-
ceei 80. 900.
Then We could 60 as I have before ini-
mated, to the rich people OF the country and
ask them 70 help u Pay on the 1860 COO frst
mortgage bonds, the only remaining debt on
the building, which will not be due until 1910.
but which Mr.. Field offers 70 Hquidate at
them. Let II be remembered Il this mortgage
was paid of Il would turn into our treasury
SEQ, 600 q year from rentals, which in the
past has gone 20 pay the interest on thu
mortgage. In Eeven years the Building asso-
citation has paid $2z1.coo rentals towards said
TAKES AN INVENTORY.
We might as well at this point take an in
ventory OF the amount in cash bonds and
conditional pledges we now hold toward the
payment Of the Temple trust bonds.
Temple trust bonds donated. and bonds
purchased by Temple trustees ....... $27. 500
Subscribed BE- bondholders 80. ........ $500
Other cash subscriptions .....-....--.. -. do
Temple trustees cash 80. .........-.. 12.e9O
Miss Dow. custodian, approximate. $3.50
Total ................ .sl7s. sou
This leaves si2s.5O0 yet 70 be secured and
IL this convention passes Z resolution 10 stand