The Superior times. [volume] (Superior, Wis.) 1870-1912, 1902-03-01
READY FOR BUSINESS.
The COnsOladafed Land 60. of the East
End ReOrganized

present and elected the following
/ officers:
President, Ogden H. Hammond; !;
vice president, to be chosen; secre-
tary, Grafton Mason, Superior; treas
urer, John b. Morris, New York :;
directors, 2. G. Stratton, Henry S.
Butler: Ogden ii. Hammond, Superior;
James B. Kerr, William IL. Phipps,
st, Paul; General counselor, Scion L..
Perrin, Superior.
The new company is capitalized at
S1, 1,O0O, ,0C0. The Northern Pacific Rail
way company represents good sized
block of the stock, being represented
at the meeting by Messrs. Phipps and
Kerr Of st. Paul. The company will
maintain its offices, as usual at the
East End, and will also have an office
at the West End in the present office
of Stratton & Hammond.
1t Is believed that the recent sale of
the property Of the Superior Consoli
great benefit to the city generally and
90 the vicinity Of Superior and Al
louez Bays in particular. Early in the
last decade the old company became
involved because of the depressed
condition of real estate throughout
the country Its officers made great
efforts to keep the company going
They gave large sums to the Daisy,
Listmun and Anchor flour mills, to
elevators and other industries, and to
the Belt Line railroad 1t was through
way, the Duluth and Winnipeg and
the Omaha companies were induced
10 build their railways and docks in
Allouez Bay. All these came after
the panic and while business in neigh
boring cities was stagnant and lifeless.
The company exercised its borrow
ing power until its credit was exhaust
ed. 1t could not pay taxes or inter
est. Foreclosure proceedings were
commenced in 1897 and the property
put in the hands of receivers. The
creditors and ckholders inmmedi-
ately Undertook the work of reOrgan-
ization, which has just been complet-
ed. Most of the former interests are
represented in the new company and
Messrs. Talbot j. Taylor & Co.. of
New York, have joined in the rehabil-
| itation of its affairs. The new com
bination, representing as it does, i'm
portant railway and financial inter
ests, is bound to win. The success Of
the new company means prosperity
to its neighbors. With its aid In Sc
curing and fostering Industrial insti
! tutions Superior will grow in wealth
and population. Tradesman and me-
clanic will reap the benefit as we'll as
land owner and speculator.
The policy of the new company has
pronably not yet been fully defined.
No doubt 1t will meet the conditio 8.
What has been needed is a concern
| with sufficient funds in hand to enable
it to meet the requirements of people
of slender means who seek busine ss
opportunities and dwellings, to hui.d
and sell houses on small payments at
reasonable rates of interest; to put
out trees ani improve properties and
to aid in making city of homes.
This we believe the new Consolidated
will do.
But ii cannot do it alone The peo-
pile of Superior must do their fair
share Every man must constitute
himself committee of one on the
general good. Write your friends to
come here. Find some manufacturer
who employs anywhere from two
men to twenty and get him to come
! here. They are the things we need
and the men we want.
we want wagon makers and sleigh
| builders; we want farmers and truck
gardeners; we want wood workers
and iron workers of all kinds. We
need dairymen and stock breeders,
sheep raisers and WOODEN mills, shoe
factories, sash and door makers, nail
mills, blast furnaces, foundrys, watch
factories and factories and shops of all
kinds. We have the best of local
markets and fast growing empire to
the North and West. Our transporta-
ton facilities are unsurpassed both by
water and by rail Get new people
and have new manufactures. The
new land company has cheap sites on
the water and on the railways. Let
us help them.
The new company is in the hands of
local men but the new money comes
from out of town. 1t is encouraging
to know thai others have the faith in
us that we have in ourselves. 1t
means much to Superior.