Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1907-10-18
Department office Eighth and foy-sxh
street, New York City.

ing to see a store manned by our peo-
ple and to learn it is meeting with
success" 81 ~
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
yorable concentrations 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 ~,
19O7), which appeared in the Septem
her 14th issue Of the Commercial and
Financial World Of New York, Is typi-
cal OF the press views:
1T would scarcely be possible to at
tach too much Importance to the facts
and figures that were brought out in
the annual report Of the Metropolitan
Mercantile and Realty Company, the
well known colored organization OF
this city, whose annual meeting was
held few days ago. This company,
IL will be remembered by the readers
of this paper, began business about
eight years ago, and has been remark
ably successful from the first. 1t Is
incorporated UNDER the laws of New
Jersey and has a capital stock Of
! 81 ,OOO. 900, and the fact was brought
out at the annual meeting that only
| $500, 900 Of the stock remains unsold,
| 100000 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. H. Atkins, the treasurer OF
| the company, who also is an exceed,
in ely able and popular man, presided
at the annual meeting, and Mr.. L. c.
Collins acted as secretary. There
/, were more than one thousand mem
bers 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 q
| large tract of land at Railway, N. j.
/ embracing more than ! 100 lots, or
which the company is to build houses
| which will accommodate about 10000
people. This is in addition to the 12s
lots in Plainfield, N. j., the 208 lots
lin Sag Harbor NJ, Y, and more thar
| 100 improved properties in the city o
New York.
"The company not only operate II
the east, but have also branch Offices
in most of the western, states, includ
ing Illinois, Iowa, Michigan and Mis-
souri: and tits the policy Of the com
many to extend their business through
out the entire United States. In Bal
timDre the company have a big dc
partment store, and In Plainfield, \
j., a big grocery store, and In Sava1
nan, OSt-, Lucy taA0 CaA1 JAAe VI q ~
banking business.
For half a dozen years past tn
/ company has been paying regular di'
.tlends at the race OF per cent Pc
] annum on it's outstanding capita
. stock, more than jtstifying even tn
!, largest claims that have been mad
ON its behalf"
The stock is now selling at pa
). value, $25 per share.
= In July, Mr.. Smith opened a branc
+ once for the company in this city,
5 SIS Mulberry street, in which its bus
i ness for the states Of Iowa and Nil
J. nesota is conducted. The office
( conveniently located, with pleasa1
q surroundings and neatly and attra
/ lively furnished. Recently Miss Eth
J. Bowmer has been taken into the 9
i fee as typewriter. The office Is share
!. with Attorney ]. B. Rush.