The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1910-02-18
SEAL AND S|GNET OF
COMMERCIAL BODY
Placed on Local Insurance
Project Which Means
Quick Growth

Guthrie is confronting two Of the
biggest situations in years, enc is tbs
adoption of a commission form Of gov
ernment, the acceptance or rejection
of which will be known in few hours
and the other Is the proposition to
assist in the building of a seven-story,
modern office building. The first de-
pends upon difference Of opinion
Upon the latter there is no division OF
sentiment.
Whether the commission form of
government does, or does not carry
every citizen now has an opportunity
to assist in giving the booster move
ment an impetus which will rebound
to the financial advantage oil every
business man and every one who has
dollar invested in local enterprises.
II is generally conceded that the erec-
ton of even one modern office build
ing will lift Guthrie from the class
OF cities in which category 1t is now
placed in the eyes OF the financial
world, into the first rank of desir-
eble investment municipalities. The
OILY thing necessary to achieve this
result is TO encourage, assist and sup
port the proposition endorsed by the.
chamber Of commerce.
Small investors Convinced
Messrs. Palmer and Coyey, repre-
senting the Mid-Continant Life lnsur-
ance company of Muskugee, are busy
securing the balance OF the one hun
dred thousand dollars worth OF stock
subscriptions conditional upon the zeal
i.ation of this project. Since the
proposition was unanimously approved
a. big mass meeting held IN the city
han recently, these agents have been
soliciting investors Of moderate meangl
The readiness with which they nave
responded to the proposition Is an in-I
dication of its safety and prophetic
promise of remuneratiye return. So
l.cltation has, 50 far, been confined 10
this class of investors. Next week
the men who, by virtue of their finan-
clal position in the commercials llte
of Guthrie, could reasonably be eX-
pected to assist the plan in the great
cat measure, will be interviewed.
Eyperience has taught the citizens
of Guthrie to beware when approach
ed regarding bonus and stock suDscrip-
tions as a. preliminary to public i'm
provement. Money is always cautious.
The Mid Continent proposition, now
ever. has been endorsed by the
shrewdest and most intelligent busi
ness men of Guthrie The chamber
of commerce is active in consummat-
ing the deal. A committee composed
OF the most successful merchants and
leading professional men OF the CITY
has thoroughly investigated the flnan-
c.al solidity Of the insurance company
and its ability to fulfill its pledges
Great Advertisement
What Is considered one OF the
strongest guarantees of good faith Is
the name of its president, former
Judge n. G. Baker of the criminal
court of appeals who resigned IRON
the bench about year ago TO accept
the presidency of the Mid Continent
company. -.
Some of the advantages which Guth.
RE would derive from the erection OF
tie building may be succinctly sci
forth as follows.
4 A. advertisement resulting from
the fact that Guthrie is swinging into
line with the progressive cities OF
the Southwest.
p that all literature disseminated
BY the company, pentrat.ng every por-
ton OF tho country would bear pno-
toeraph Of the Guthrie office building
ard the information that il is one OF
the headquarters of an insurance com
many capitalized at ole million dot
~ and nearer at home than the east
ON companies which are making bll-
!; MS of dollars out OF the Southwest.
c. that Il will mean The expenditure
o. one hundred thousand dollars Ia
the city of Guthrie.
D. that It offers 10 investors a diyl-
d,nd having purchase which, II this
Md Continent at all appfoximates me
success OF insurance rivals. should
rrove a lucrative investment.
One OF the facts that Messrs Pal
mer ard CoveY are impress.ng upon
tte local public is that the company
urder the law of the state, cannot ex-
pend 100000 for any purpose unless
IL ey have four hundred thousand dol
lars In convertible assets. 'fhe insur-
ance laaasqmo Oklahoma also, are 50
rigid that atdis practically impossible
for any underwriting concern whose
intentions are not bona fide TO trans
act business in the state.
Guarantee OF Safety
How Guthrie investors are protect
ed against loss Is shown in the con-
tract between the Mid Continent conf
runy and local investors. One third
OF the board of directors OF twenty
five are to be composed OF investors
OF Guthsie anu slelnlts. TAa entire
one hundred thousand dollars to be
subscribed Is 10 be de..s,sited in local
hank to be used wholly in the con-
structinn OF an office building end no
checks can be drawn against tae de-