The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-29
SEVERAL VALUABLE TALKS.
TO BUILD UP THE MANUFAC-
TURING INTERESTS.
ST. PAUL AND MINNEAPOLIS ONE
the Other-A. K. Pruden on
Banks.

to listen to a number Of talks on mat
tiers Of the greatest interest to them,
after they had partaken Of a substantial
repast. There were 100 manufacturers
at table, and besides President Condo
Hamlin, Of the Commercial club who
acted as POSTMASTER, sat Archbishop
ireland and Rev. A. B. Medium.
! After brief invocation by DR.. Mel
drum, President Hamlin, in introducing
President G. f. Kuhles, of the North
western Manufacturers union, said
| that the Commercial club was q clearing
house for the business interests Of ST.
| Paul. There had met there before this
the jobbers, and the retailers, and now
the manufacturers were gathered about
| the festal board to meet and know each
other better and listen to a discussion
| Of subjects Of much import to them in
| their various lines
President Kuhles declared it gratifed
him very much to be able to meet all his
fellow manufacturers at the club, and
after expressing the hope that the Or
ganization would steadily increase in
numbers and influence, told something
OF the work done since its formation
some months ago. The details Of the
work accomplished, he said, the secre-
tary intended to make known later,
After a brief introduction by Presi-
dent Hamlin Archbishop Ireland, who
had been an interested listener, spoke in
part as follows:
How to build up the manufacturing inter
ests Of st. Paul? That Is q question or the
| deepest interest to St. Paul and to all her
people. We must wish to see our city grow
until St. Paul Is the greatest city in the
whole Northwest. If we would really have
1t grow we must bestir ourselves, for, even
with the geographical advantages she en-
joys she must still have men capable Of avail
ing themselves of them. Even without these
natural advantages capable men will supply
the energy and the enterprise to build up
city.
The country is recovering from a period of
unparalleled depression, and we are glad to
hear on all sides that the period Of prosper
ity is come to America Shall it not also
come to st. Paul? There are many places in
this great Northwest bidding for the privi-
lege Of being at the head, for we must know
we have rivals to the south and to the east.
The railroads have annihilated space, and
whereas some years ago there needed to be
many citizens in given territory, now, with
low rates of transportation, one large COM
mercial center attracts to Itself the business
OF the section. st. Paul and Minneapolis are
but one center of commercial strength and
he who opposes st. Paul Is an enemy likewise
of Minneapolis and vice versa. Together we
II
here and keeping here a great poulation.
That is the vital question. How best can we
do this? By providing means for newcomers
as we'll as the residents by which they NAV
secure the wherewith to purchase sustenance.=
1t Is the mechanics and the laborers who
go to make up this population, and to get
them here and provide them with means of
making living we need both the jobber and
the manufacturer. The jobbers in st. Paul
necessarily employ large number of hands,
but 1t is the manufacturer who contributes
IN Tho
most people and aids most in maintaining
a large share Of the population. Say, for ex-
ample, there are 5000 men, 1000 women and
several thousand children employed in the
different industries in st. Paul. 1t is safe to
say that not less than 1000 people are sup
ported by the wages earned by these en-
ployes, and If the number were to be doubled
SO would the number of the population, and
the city would continue to grow
Then for the indirect. but not less certain,
advantage. These 10000 people support the
retailers, and they. in their turn the jobbers
and manufacturers. We must not only keen
up our population, but must add to it. and
of made goods we should not suffer from a
proximity to Chicago, and other large cities.
or from cheap transportation. ST. Paul and
Minneapolis are the great gateway to this
wonderful Northwest. whose future we can
hardly conceive in our widest flights of imagi-
nation.
When you manufacturers can say YOU have
goods as cheap and as well made as St.
Paul patrons can, get elsewhere you have a.
plea which they can not afford to pass un-
noticed. When you have done this the next
thing Is to bring your wares so constantly
before them that they will know thew can
secure them from you as well or better than
by going elsewhere. The best results will
come from united effort, and united force.
DO not 1 allow outside competitors to enjoy
any advantage you have not yourselves got
You have done mulch in the way of knowing
one another with your display at Market hall:
these gatherings will bring you In closer
create a sentiment in Of
fostering the purchase of goods made at home.
Let the st. Paul people know thay should
Paul and by st. Paul people, who will cir
culate the money they recveive from their
sale, In the limits of the state. Point out
industries and should lead others to come
here
A. K. Pruden spoke on the relation Of
banks to manufacturers, and urged at
the outset that the relations must al
ways be based upon purely mutual in
terest. The bank must make It's profits
by lending q part Of its deposits at in
terest exactly as the manufacturer must
sell his output at a profit above cost. In
order to earn interest without loss Of
principal in whole or part, the bank
must loan it's money upon a sound basis
MI. Pruden gave briefly the views OF
bankers on these points covering their
relations with manufacturers. touched
on the prevailing customs. and explain
ed something Of the detail Of the system
now in vogue in transactions between
| manufacturers and their bankers
Bankers were he urged, far more de-
pendent upon their borrowers for their
profits than was the borrower upon the
bank loaning him the money, and he
predicted that in the future a more
liberal policy would prevail Said Mr..
Pruden:
Capital should be invested. not borrowed
and since additional liabilities attach under
cannot usually take active control OF his
money, in this kind ofninyestment the laws
of the land provide for the existence of
corporations whose stocks and bonds furnish
idle money of banks may make an earning
Corporate existence does not necessarily
involve large capital or exten i've op :rations
but may, and should be, employed In small
grown so far towards success that more capt.
tai may wisely pc used.
1t is lamentabie that strong prejudice
has existed against theovery name of manu-
unfounded. for many Of best men have
been hoodwinked into contributing literally
from their wealth towards the establishment
and support OF prospective great manufactur-
the most there was of Them, great losses re-
suited. and today the legitimate rising and
established manufacturing enterprises are
struggling under; the cloud of that prejudice
To remove this prejifdice and make pop-
ular the investments of money in manufac-
turing, closer personal acquaintance between
the manufacturer and capitalist must be Gull
tivated. Omit no opportunity to pass without
speaking personally with your banker make
him more familiar with what kind of man
you are. what you are doing and what you
know you have done. Through your banker