Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-04-06
PLANS FOR NEW INDUSTRY
Several General Ideas Considered but Com
mittee is not yet Determined. y,
OTHER CITIES FURNISH SUGGESTIONS
prime Purpose h 60 Incorporate Com
pany Of Hundred Thousand Dol
lars Capital TO subsIdise
Enterprise.

The proposition OF the Omaha Commercial
club for the organization Of a stock COM
pany TO secure new industries for the city,
has aroused considerable discussion among
the business men. Numerous suggestions
have been made to the special committee
appointed in the matter, Consisting of l. w.
Carpenter, J. r. Baum and Y. T. Lindsey,
though as yet no man has had a detailed
plan to OFFER The committee has had two
meetings and is working out q scheme
which will be presented to the executive
committee Of the club In the near future.
II is the idea to incorporate company
81 not less than 100000 capital stock,
divided into 1000 shares OF 500 each, to be
subscribed by business men who wish to see
the city grew. The money would be used to
start small industries. which. in the judy
ment OF the directors. has good money max
ing possibilities after once placed on their
feet The company could furnish sites for
new factories, taking stock in the business
IN exchange for the site, and could erect
buildings to lease to the new concerns. The
payment for the stock I'm the company is
matter which has called out many sug-
gestions. Some say pay. cash down; others
say pay 10 per cent quarterly; others 20
per cent annually. and still others think
it best 10 call for payments as the money
is needed for new concerns
what other cities Are Doing.
In case he should be called on for in
formation as to what other towns are doing
in this line, Commissioner +. ]. MeVann
of the Commercial club has collected some
data, showing plans carried out and pro-
Iiected. Scranton, Pa. with a population OF
10000 has organized a company with a
capital stock Of 100000, and several months
ago had already $4,000 subscribed. SUI
perior. Wis. with 1900 people. has a COM
pany with $4,000 capital stock, 20 per cent
TO be called for any one year, and to he
used either as loans or to buy stock in
new concerns. A company in Duluth, where
5000 people live, has 100000 capital stock.
20 per cent of which is paid in cash each
year. Dayton, o., with a population only
about two-thirds that of Omaha, proposes
to go in for 10000. Haverhill, Mass. pro-
poses to form building association to
erect modern factory buildings. Marion.
Ind, town Of less than 10000 people has
raised 100000 to secure factories. Nash
vile, Tenn, city Of s1.OOO, plans for stock
subscriptions Of 500 each from 500 men,
to be called for 10 per cent at time when
a new industry can he got.
Joplin, No, has 5000 people. Last fall a
stock company was organized with 5000
. capital IN SUD snareS. 10 ne PAID at the
rate OF 81 month on each share.
Kewanee, III, has 10000 inhabitants.
proposition is under way to lay out acreage
property in the edge of the city and sell
S95 lots at s176 each. the proceeds to b.
used in subsidizing new industries.
Land Plated at Peru, Ind.
The Oakdale Improvement association
Peru. Ind. plated land and got a belt line
through It. Through the Commercial clut
100 lots have been sold at $275 cash each
and the money will be used TO locate fac
tories Peru has 10000 people.
The Sprjpgficld, CIll) Improvement asso
citation has bccn Incorporated by ten men
with a c1p1al stick of 100000. Land to tn,
extent q: ~ pores has been syndicateC
and placed ~ s7l',
New Orleans is Making y strong hustle I,
organize a company such as is proposed
in Omaha The plan provides for a capita
stock of $5O00,U00 in 5000 shares of SO
each. not more than % per cent to be as
sessed against the subscriptions to stool
in any one year, assessments to be pr,
rated as investments are made and orderet
by the board of governors.
The Kansas City star last Septembe
said:
CoffeyviHe Kan. has a Commercial clu'
which in the last three years has dis
bursed more than $4,000 for new IN
dustries. Has II paid? In that city there I
town has grown from 5000 In March, 100.
10 1900 now. The mark set for 1915 !
$500, and that figure will be reached be
fore then n the present rate OF progress
The coffeyviue Commercial club bough