Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1905-06-08
TO BUY LAND
Bankers and Citizens Organize
Company to Purchase State
Lands When Offered.
Money Thus Raised Will Be
Used in Constructing Wing
Of State Capitol.

A consultation of representatives of
| the three banks OF Pierre was held on
| Thursday OF last week and as the ont
come of which it was decided to call a
meeting of the heavier realty owners of
the city and vicinity. Accordingly a
call was issued and at 10 o'clock on Fri
day morning there assembled in the
senate chamber of the state house about
twenty-five representative men of the
city. After some discussion as to the
object of the meeting it was decided to
| form company, to be differed by
members of the three banks as incorpo-
rators, for the purpose Of buying state
lands when the same are placed upon the
market.
1t is the aim of this company to issue
stock to the amount of $l3o,000.OO, to
be subscribed by citizens of Pierre, and
the friends of Pierre. With this sum
available the company can pay cash for
land, and the money thus passing into
| the hands of the state treasurer is to be
used by the Capitol Commission in the
construction OF a wing of the new
capitol.
| 1t seems that the law as passed by the
legislature last winter hampers the
Capitol Commission in at once proceed
ing with the construction of the capitol.
though evidently it was not so intended.
Up to the present time the Capitol
Commission has proceeded as rapidly
with its work as circumstances would
permit, and no doubt will soon offer
lands for sale, the proceeds from which
will go into the capitol construction
fund, which at this time amounts to
$200GO00, cash in hand, d rived from
the sale of capitol lands in past years.
Many of the public spirited citizens
of Pierre fearing that the sale of lands
might not be for cash, conceived of the
plan of collecting funds into company
which could bid in the lands, if neces-
sary, when offered for sale, 50 that the
Capitol Commission might not in the
end be handicapped in it's work In
this manner the company assures to
Pierre and the state a permanent wing
of the capitol, while on the other hand
were the land sales to be held with nc
such company standing ready to come
to the rescue it is possible that enough
cash sales might not be made to realize
the balance Of $l30000O0, and in con
sequence the erection Of the wing de
layed.
The citizens of Pierre have always
been loyal and able to win III whatever
they have undertaken and there is nc
doubt Of the success Of the plan. With
the bankers of Pierre stepping to the
forefront let every citizen do what he
can in this cause. The money is safe
. and will not be squandered, but invested
in lands that will some day more than
doubly, aye trebly, repay the stock
holders. The banks of Pierre are sount
financial institutions, of good record
and with such people as officer these
banks in charge of the money subscribed
is a guarantee against any speculation
whatever.
1t is hoped that enough stock vii
Il be subscribed at an early date to insur,
the bidding i'll of lands when placed OF
sale. And in future years Pierre cal
point to the magnificent capitol as
monument to the enterprise of her citi
zens. Any one wishing to take stock il
the comapny should apply at any one o
= the banks of Pierre.
c Articles of incorporation have beel
c filed bearing the signatures of Pattisol
i. Mcclure, Adolph w. Ewert, and Bur
!, ton A. Cummins as incorporators o
c ''The South Dakota Capitol Land Pur
c chase Company"