Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1901-09-17
Plans for Proposed Ottunwa En-
torprise Fully Explained.
PROMINENT CITIZENS INTERESTED
Among Those frying to Secure the
Mill are p. A. Pool, J. r.. Mitchell,
c. j. EkfeIt, Walter T. Hall and M.
3. Hutchinson.
LErom SATURDAYS Daily.l

the matter of obtaining it for the city
have decided to make public all facts
in regard to it, throwing it open to
the public for investigation and in. /
vestment. All the preliminary inves-
legations have been made by influen-
tial and respectable citizens, and al
committee consisting of NJ. e. Hutch
ison, j. H. Mitchell and Walter T. Hall |
has decided that an oa1 meal mill in
Ottumwa can be conducted on a pay !
ing basis and will be great benefit,
not only to the stockholders, but to
the city at large, Wapello county and
the adjoining counties.
Benefit to the County.
An oat meal mill is something that
should interest every man in the
county. 1t not only benefits the bust
ness man by bringing farmers and
others into Ottumwa, but it also bene-
fits the farmer who has grain to sell.
An oat meal mill in Ottumwa can,the
promoters of the plans say, pay more
for oats, corn, barley and rye than any
grain buyers for eastern markets can
possibly pay. The reason for this is,
they say. obvious, and lies in the fact
that the expense for freight will be
little or nothing.
c. j. Ekfelt Is Interested.
| The plan of the men who are and
have been working upon the matter is
| to form a stock company. G. ]. Elk
felt, deputy county treasurer, has
agreed to take charge of the financial
end of the enterprise if enough citi-
zens of Wapello county subscribe for
the necessary amount of stock. Ar
rangements have been made whereby
the oat meal company, II formed, can
buy the building formerly occupied by
the Ottumwa Linseed Oil Co., and the
machinery owned by V. S. Nichols, an
oat meal manufacturer of Beatrice,
Neb.
Plan of Proposed Company.
The plan as explained to the Cour
Ter by Don A. Pool, who is interested
in the bringing of the plant to this
city, is as follows: To issue preferred
stock to draw per cent annual inter-
est guaranteed by the company, for
which the entire assets OF the COM
pany, of every name and nature, are
holders. All stock fully paid and non.
assessable. The preferred stock at
, the option of the owner may be ex-
changed for common stock, the holder
receiving two shares of common stock
/, for one of preferred, which must be in
/ accordance with the articles OF incor-
poration.
5 In the articles of incorporation the
preferred stock shall have the same
: vote as common stock The articles
t of incorporation and bylaws shall be
: arranged and agreed upon at a meet
!, ing Of the subscribers for stock upon
: just and equitable basis.
l Common stock is to be sold at fifty
! cents on the dollar; in other words
e 50 of common stock will be exchanged
: for 81 in cash.
4 After a sufficient amount is sub
S scribed the company is to be formed
: and either buy Mr.. Nichols machin
t cry for cash or for common stock il
e the company as the managers of the
e concern see fit
II Not in the Trust.
n The Ottumwa mill will, accordin:
l. to the plans, be an Independent con
L Germ; that is it will not be in tn,
trust. There are several successful
e Independent mills in the United
y States the largest one being Kansas
o City, Mo-, making 1000 barrels of GA
y meal per day. This was Increases
e from a twenty-five barrel capacity mil
"a within the past fifteen years, and run
E. night and day. The Eft Dodge mil
belongs to the Western Cereal Co
- and within the past ten years it ha
:. been increased from a $50 barrel mil
- - to one with a capacity of 500 barrels
=. - The Cedar Rapids mill, which belong
~ TO the American Cereal Co, has bee
increased from a mill of $50 barrel
= capacity to one of 1000 barrels, an
- runs night and day
~ Successful Mills.
~ Stock in the American Cereal in no,
&c T., worth $1.75. The Great Wester
q. Cereal Co. is also trust and it's stoc
~ is above par. 1t has ten mills with
+. total capacity of 1000 barrels per da.
"a This company has issued stock to til
amount of $3,000,00O and bonds to TIL
amount of $1,5O0,0O0, at 6 per cen
This is capitalized at $3.50 to the ba
rel capacity. At the same ration O
:. tumwa's 100 barrel mill would i
~ worth $4,000 within one year. Th
Ottumwa mill can be doubled in C;
81. pacity with an outlay of from $1,2O
ne to $500, and by the same rating /
en- worth $15O.0OO.
;h Cereal Foods.
ot- During the past year the develo]
ty ment that has been made in food ha
IL been wonderful Some of this foo
ce which has been placed upon the ma
IN ket has been of merit and some wit
he out, and this has become so evidel
st that many of the states have passe
TO- pure food laws.
y, Scientific Development.
], Only few years ago oats W;
W thought of as fit for stock food, ar
ed corn as the chief ingredient of IL
poor mans bread. Today America
oats and Indian corn are in eve
market in the civilized world, prepa
ed for food so palatable that they flu
n. nish breakfast for the king and lunt
for the diplomat.
Only few years ago the hulls
these cereals were thrown away
I'm useless and of no value, but advance
OIL chemistry has developed the fact tn
I'm these hitherto cast off parts of Il
ed grain make excellent bone and muse
tu- builders, and today stock raisers a
ap using the entire output for their hero
rn, bpDf 1900 thA Sopbnrr Eood ~ 7