Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1907-10-11
paid per cent for years.

ing to see store manned by our peo-
pie and to learn it is meeting with
success"
Such is the testimony Of an eye wit
ness to one Of the several enterprises
Of this great Negro corporation:
The company has always had ia
vorable commentators from the
press, both daily and also the stand
ard weekly reviews which on numer-
Gus occasions have made favorable
and complimentary reference to the
practical as well as to the theoretical
good being done by this institution
The following account Of the annual
stockholders meeting {August 27,
1907, which appeared In the Septemi
sber 18th issue OF the Comm ercial and
/ Financial World cf pJeW York, Is typi-
lcaI Of the press views: "a
Z 1t would scarcely be possible to at
tach too much Importance to the facts
and figures that were brought cut in
the annual report of the Metropolitan
Mercantile and Realty Company, the
well known colored organization OF
this city, whose annual meeting was
held a few days ago. This company,
it will be remembered by the readers
Of this paper, began business about
eight years ago, and has been remark
ably successful from the first It is
Incorporated under the laws of New
Jersey and has a capital stock of
81 GOO, 900, and the fact was brought
out at the annual meeting that only
$500, 900 of the stock remains unsold,
S80O,00O having been sold in less
than eight years Mr.. P. Sheridan
Ball, the president Of the company,
who is regarded as one Of the ablest
colored men OF this country, called at.
tention in his report to the fashion IN
which the great influx Of foreigners
into New York and surrounding cities
is being housed by white investors to
the exclusion OF the American Negro,
except in undesirable localities, and
he called upon the people to sustain
the efforts Of the Metropolitan Mer-
camille and Realty Company and to-
be prepared to buy land for them
selves and to build houses, for by so
doing they can aid their people in
the only tangible and permanent way.
.'Mr. j. HI Atkins, the treasurer OF
the company, who also is an exceed
In gly able and popular man, presided
at the annual meeting, and Mr.. j. G.
Collins acted as secretary. There
were more than one thousand mem
5bers present at the meeting, and about
five thousand were represented by
proxies. It was brought out in the re
port that during the past year the
company has acquired by purchase al
large tract OF land at Railway, N. y,
embracing more than LOO lots, on
which the company is to build houses
which will accommo odate about 10000
people This Is in addition to the 128
lots in Plainfield, N. j, the 208 lots
in Sag Harbor, N. Y, and more than
100 improved properties in the city OF
New York.
"The company not only operate in
the east, bnt have also branch Offices
in most OF the western states, includ-
ing Illinois, iowa, Michigan and Mis-
souri, and At Is the policy OF the com I 4:
pany to extend their business through
out the entire United States. In Bal
timDre the company have q big de-
partment store, and In Plafnfeld. N.
j., q big grocery store, and in SaVan-
nal, ca, they are carrying on a big
banking business. 81. IN .s
4 For half "a dozen years past the
company has been paying regular div /
idends at the race Of Z per cent per
annum on its outstanding capital
stock, more than justifying even the
largest claims that have been made
on its behalf" 5a$
The stock Is now selling at par
value. $25 per share.
Y In July, Mr.. Smith opened branch
office for the company in this city, at
SIS Mulberry street, in which Its bust
ness for the states Of Iowa and Min
,nesota IS conducted. The Office iss
conveniently located, with pleasant
surroundings and neatly and attrac-
lively furnished. Recently Miss Ethel
BowmeI has been taken into the Of
fee as typewriter. The Office Is shared
with Attorney ]. B. Rush. 8s