The Corvallis times. (Corvallis, Or.) 1888-1909, 1903-10-03

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land in the production of grain,
sugar beets and fax is contemp1at
ed.
BIG FINANcIERs TO BACK IT.
For all this gigantic system Of
industry, there is apparently a very
good prospect of enlisting the re
quired capital. Though it takes
multiplied millions to carry out the
scheme, the money seems to be one
of the easiest of the possibilities. A
big Portland bank is hand and
glove with the managers of the
proposition. Another financial in
stitution, one of the greatest in the
wide West manifests entire willing
ness if not eagerness to marry or
mother the project. One of the
biggest financial institutions in
New York City. looks with favor
on the scheme and is willing to hold
up the financial end of the under
taking. Nay more, there is an act
ual contract in existence, in which
a big financial institution binds it
self to sell two millions of the bonds
of the new enterprise within eigh-
teen months. IF memory serves
the writer correctly, the same con-
tract provides that sufficient bonds
shall have been sold by this great
banking concern, within five years
to fully finance the gigantic scheme
Of strongest interest in the thing is
the fact that connected with the
financial institutions herein men
toned are the names of leading FIN
anciers of America, Many of them
are so familiar in the daily lore of
the financial world that they are
household words throughout the
Nation. Letters announcing all
the above facts so far as the fnan-
cia1 matters. are concerned were
read at the meeting Tuesday night.
in a lawyers Office in this city. All
the letters were the, clear-cut direct
statements of men Of finance, who
waste no words in stating what they
have to say. Their contents were
strong enough to compel in those
given always to doubt willingness
to believe that the scheme, gigantic
as it is. on paper. SO far as the fin
ance is concerned, is not an i'm
possibility. The letters. together
with the statement of the plan are
to be presented at meeting of the
Citizens League to be held in Fire
mans Hall next Monday night.
WANT TO GIVE AWAY MONEY.
The leverage by which the fin
ancing of the enterprise IS said to
be assisted is, that there are rich
people in the great ceuters who are
literally rolling in wealth, who
have money in such startling
amounts that they actually do not
know what to do with it. Their
incomes are far beyond what they
can spend. even if they live in the
costliest OF costly fashion. They
turn away from this money,
tired worn out, annoyed. When
they die. they cannot take it with
them. While they live, they can
not spend it. Their problem is,
what may they do to better the con-
dition of some of the poorer classes.
How may they appropriate some
of this enormous wealth. so that it
will do the multitude some good.
Among them is sort of fad for
philanthropy 1t is fashionable to
spend huge sums in so-called char
tiles Carnegie, after robbing the
people of the United States by
means of armor plate contracts.
and by the undue advantage given
him by excessive tariffs on the
products OF. his mills affords an ex-
ample in his so-called- benefactions.
for libraries. Like him, there are
thousands and thousands of lesser
lights. Helen Could, the
daughter of the late railroad mag
nate, is one of them. Behind the
brown stone fronts on Fifth Aven-
ue, New York, and on Common
wealth Avenue. Boston, they live
with their money, and ponder over
their phi1anthropies. And it is
by reason of this philanthropic fad
among the rich that it is easier than
it would otherwise be for Benton
county to see a big city spring up
somewhere in IFS borders, and to
hear its valleys and hills hum with
industry The rich II their fad