Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1909-07-09
SHAREHOLDERS LOYALTY.
Afre. Americana Rally 70 eusinsss
Nssds and Subscribe Large Sums.
nv a lnAEa


BY P. q. JONES.
The Metropolitan Mereantile and
Realty company held large stock,
holders meeting ut Carnegie hall. New
York. recently for the purpose Of ts,n-
sidering the financial condition Of Its
affairs and to raise the necessary
funds to complete the new home ONCE
Of the company at Forty.sixth street
and Eighth avenue. Owing to the short
notice given for the meeting many Of
the shareholders were not present.
Notwithstanding there were at least
600 shareholders and others who at.
tended the meeting. The shareholders,
many Of whom seerued Indifferent and
lethargic In the onset Of the meet
Ing, warmed up to the necessities Of
the hour as the officers of the company
explained the financial conditions Of
the same and Its present urgent need
OF funds to complete the building.
The meeting was called for the ex.
press purpose of raising $1,000, which
Is the amount necessary to complete
the store end Of the building. This
amount the management Is desirous OF
raising by the LIST: II not, the 10Th Of
July at the latest. Five floors Of the
building have already been rented. and
the lessee will take possession 40 soon
as this part Of the building ID com.
pleted. An urgent demand was made
on the shareholders present to pledge
this amount. After much persuasion
$500 was pledged and paid at once
toward raising the 5000. Indica.
tions pointed to the fact that the audi
ence might have easily pledged the en-
tire amount had they known before
hand the object for which the meeting
was called, Other meetings will be
held from time to time until the neces-
sary funds to complete the building are
raised.
Notwithstanding the fact that the
5000 asked for was not all pledged.
the friendly spirit and the eager inter
est which those who were present dis
played in their company demonstrated
the fact that the shareholders are still
loyal to the company and purpose that
It shall succeed. Many shareholders.
for one reason or another, have be-
come discouraged and disgruntled be-
cause work on the home Office has not
progressed 40 fast AZ they would have
liked to see It They are not alone IN
desiring to see the building 6nIshSd.
But desire alone, a. ennobling % It
may seem. will not do the work. Il
requires money to complete the build
Ing, and very little would be required
from each shareholder provided they
MI were to contribute something. But
where some ars aiNnyS xtving and 9TH
ers are simply complaining Il causes
the proposition to become burdensome
and the building to drag along. This
is annoying to all concerned, and yet II
cannot be helped unless the share
holders get together. make up the nec-
essary funds and complete the build
ing.
There seems to be an unfounded idea
prevalent among good many stock
holders that the company has the nee
essary funds with which to complete
the building and that they could COM
plete 1t should they desire to do 10.
These assertions are as ignorant as
they are untrue, for no intelligent man
agement Of any corporation would pur-
sue such blind course as that, de-
structive alike Of confidence and busi-
ness. The whole truth Is the company
has done the best It could under the
circumstances and deserves great cred
1t for having been able to maintain its
existence during the crucial period
through which II, Is passing. A little
more patience. money and confidence
will put the company on its old run
ming basis, and the shareholders will
then be satisfied at the sacrifices they
have made. ss