The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-29
Of trade and the results which It had
accomplished in the past.
TALKS BUSINESS.
President Comins Serves Up Plain Facts
About the Board and Its Affairs.

6enuemen OF the board OF Trade:
Before introducing to you the toast
master and the lions of the evening
your committee on arrangements has
asked your president to take a very few
minutes of the time and speak upor
any subject he may select. AS this i.
one Of the few times when a quorum is
present. I shall tell you some things
about the Board of Trade you ought
10 know and endeavor to correct If !
can. some impressions that seem to
have fixed themselves upon the public
mind
| You will pardon me, then. if I leave
! the fun until later, and talk business
/ The finances of the board are still on
/ a sound basis. You have a surplus OF
/ $1,000 and accrued interest in the saw
ings bank. If half Of the annual dues
| still unpaid are collected before the
! list Of April, all outstanding bills can
De paid without impsiring the surplus.
We have every reason to believe that
/ after expanding between $500 and $500
! upon our new rooms and after paying
! an increased rental. we shall close the
1 year next month with small balance
ehead of last years surplus.
1t seems to be the popular idea that
the Board Of Trade exists solely to Sc
cure new industries for Worcester.
Now the fact is we do not have to
hustle for new industries. They
swarm 10 our rooms. Hardly a day
passes that We do not have an invita-
ton to invest any amount from $500 to
$4,000 in some patent or capitalize
anew some worn-out plant. There ap-
pears TO be an impression abroad that
the board has a fund of millions to in
vest.
These new industries may be divided
into three classes: First, those who are
willing to exchange their rights or ex-
perlence for good cash bonus and
lurnlsh nothing in the way of cash
capital. Ninety per cent Of our appli-
cations are of this class, and It is
needless TO say they are not consi-
dered
The second class includes those that
VIII furnish a fair amount Of capital
ana desire US to furnish a free site or
an exemption from taxes or rent for a
Term OF years. The position the board
q directors has taken in such cases
mas been that it is undesirable for the
community to acquire new Industries
under such conditions. These are legi-
innate expenses Of every well-nan-
aged business, and any concern that
cannot locate here and take the chances
maj all of us take and bear their share
HIui!lg, Will not in the long run be a
desirable addition to our indus+ris al
CROWN. Yet We have to contend with
this condition. "''i
Almost every day brings offers and
large Inducements to our manufactur-
eES 10 locate elsewhere Not only ex-
emptlon from taxes and free sites. but
a cash bonus is often offered. So thai
IN considering new enterprises We are
continually met with the fact tba+
lhere are other places on ths man 10
sldes Worcester.
The third class includes those who
are willing to live with MS or aor'aI
terms either asking no assistance or
desiring a reasonable amount Of adai
tional capital. that they ara Willing 70
pay for at market rates There ere
now before our committee on nov, Gu
terprises large and promising in,Ius-
tries that wish to locate here and he
one Of us. They are willing tn MT IN
from their own funds a largo 80 -
the capital before asking MS for addI-
tional capital. Our committee baye N
vesJiCated them Thoroughly, and 70
10 hesitation in endorsing ,ber, 80
We find difficulty in gettinp Wrorcas,t ~.
capital interested We bo9in IN -,
der how much more money there ,vo,id
be available in Worcester today nod
some rf oUl. citizens used The $50
conservatism towards 017ts.ds sr,s,,',I.l
tions that they use I'm consida,iT,, az,
industry in our mfdst
Whether these Industries co,,,a ~
not. will depend upon The ci+iynI,s ava
not upon the Board of Trade Ali ~
information we have is ar The Iie,,o til'i
Of any one desiring to invest 09''-
The board is wiIIinsr 70 NIB ,,-, -
any sites that NAV he oesara1 go "a
cost or any buildings fraa n4 go ~ ~
the usual experience is that Land in
creases suddani1r in iii, 10 laitu ~
at as a possible site f1r ~. gu
Many applicstions for nisr+s "a L..
been investigated: their presant Loo,
ton visited tbeir 49, 1891 1Joei5O Ioca-
their business srandine. Iooi.ad go
Your COMMITTEES has hsa,, ~ -, -
trious, but has been aIIe 70 enn,ntN, .,
but few II not sjr,,., ~ , opp oN { o!
try comes ia Worcestai.7 ~, '40 ny 10
to be thanked for Inc ecrar,,as a. y l. d is
discouraged such 10 a 49, ia ia
work beine. done IN, yo,r d a. ~ 81 ny
committees IN oIJitiat, U'4 GoLGIs any
that viii be Of beneft to tho bms .f,eaoi
world is Unrestricted ana rasoiI 7ti,7a'
sent To our IeerieI9tore fa,,N,,;o it 80!
tiers of freight exnress and 1assa ~ 9,
service are continnaII,, raf'aiS'jr7s.
tentiou We ara racai,,j,,og roa,,SS
plications for foor snera IN %,iildir a y,
for mercantile n,1rna5S, ~ "a + tils'
having aystIa HE snace ~ 80 ~
find it greatly to rhai1. ad,.arts.a :,
leave a dissertation Of SANE II.if7 ~,
secretary F'renuantIt, 10 49,. 80, III
who desire 10 have snoalI ,I1acIi5'e, ~
inventions made for then 49, -
ADy of orr members ba,in,. , ,I,ar,,
To take ON additionai businass Iii q,
IT to their Interest tn Leave tiC,,i isir,
at the rooms Several eI,cb jngtor 1['a
have come before us and ra,.tias 80, ~
3 beau fo,,,,6 a,5 .,.,.,, >, or,,,,, -, -. u