The Montgomery advertiser., 1907-03-29
FOR LOCATION OF FACTORIES Plan to Subscribe Guar
 anty Fund. PLEDGE CREDIT OF sz5O.oOO New Manufacturing Enterprises to
 Be Secured. Helping Hand to be Extended to con- cerns Which Wish to Come and Help Swell the 1910 Move
 ment.

A movement for the industrial de- velopment of Montgomery, declared to be the most significant in the history Of the city. was inaugurated with en- monthly meeting of the Commercial Club.
 At the suggestion of the manufac- turing committee of the Club. and forty business men present. plan for raising a guaranty fund of $26o.000 to be used in locating industrial en- terprises in Montgomery and in fos- tering existing industries, was unan- imouslx adopted.
 In a resolution offered by Michael Cody. vice chairman of the manufac- turing committed. and passed by the Club, President Forbes is directed to appoint committee of ten members to formulate definite plans for the move ment and to interview property own- CTS and business men for financial cooperation in raising the guaranty fund.
 Purpose of the Fund.
 It Is the purpose of the guaranty fund to afford some means by which industrial enterprises can be induced success of the manufacturing commit tee. in the past. 1t was pointed out. lay in the fact that the committee has been unable to lend helping hand
 
 which have desired to cast their for. tunes nthis city.
 The guaranty fund. as planned. is to be used as an endorsement Tor such worthy enterprises. locating in Montgomery. as may need q credit: The subscriber to the guaranty fund will thereby become responsible Tor only his pro rata share of the en-
 The laying of this proposition before the Commercial Club was made the special order of the evening, and im- mediately after President Forbes calL- was asked by the chair to make
 Mr. cody's talk on behalf of the nanufacturi9g committee, was % a com, ,t, sound reasoning and convincing ng. ures. He said he had been connected with the manufacturing committee two years or more. during wniGn s,I tune an gagged in trying to locate manufactur, ing enterprises in Montgomery and foster those already here.
 There had been an increase I,aI1v oI ln- since the launching of the adverus- ing campaign It had occurred to inc comfpittee some time ago that Montgomery has all .9~s the acHansSsrs tbsrasors why, he asked. no better results m bringing manufacturing enterprises 10 Montsomery? The difficulty nas been. MT. Cody mstaPn,GEb'eaiiif Ppx,pb ifs hands hands tied. & 1 could invite them here to a feast but I would have to let them feast. alone. The committee could not extend a | could only beckon them.
 As an instance of an enterprise de- string to locate here. MT Cooy re ferred to one which haTs nad t TF1sen sS noW & ted it is buying It's coal in Virginia. its lumber in Arkansas and ts iron in Alabama. The industry employed about sixty persons and aesirefH1 sf1 op cG these things could be secured. In ordsr to locate here. 1t asked for fa- l ciIities for credit in the extent or l S15,0QO--not as mendicants' DuI
 was unable to assure the credit. 1 Time for Action.
 Mir. Cody said that the time had come for action, and 1t was with the Clup whether guaranty fund movement 1 should be inaugurated for locating and | Fostering such enterprises. He said the Committee realized industrial institu- | tions could be secured by afrordins | them moral and f1nacial backing He smoke at length of the great success oi | tbe guaranty fund movement in Will | iamsport, Pa. which city started witf | d fund of $215,000 in 1900, and m creased 1t to $4Sl ,oOo Tn lsuo; aursmt m. | | grown 77 per cent, and the bank depos' its have increased $3,0oo.ooo. MT. Cody | thought it would require only Iron | fifty to one hundred citizens to provide the guaranty fund and it should be
 privilege to be asked % to subscrios scr os to It sions, and J. s. Pinckard said it seem
 ed to him the proposition was a goot
 one. He had not looked into it thor, oughIy but he thought a guaranty fund
 with a Board of Trustees to pass or 1 the proposals of enterprises desiring t locate here, would be good. He eait he would go into such movement Il | 1t could be adjusted.
 l George A. Thomas. a member of thu Manufacturing Committee. expressed
 approval of the movement. He sait l there was no use talking if they wer'
 not going to do something to secure | enterprises. and he felt sure results | could be obtained if the good. solit business men would get behind thu l movement.
 R. J. Chambers. Vice President O