The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-10-24
TUESDAY. OCTOBER "a, 1911,
"A Home Industry
That Will Pay.

Various schemes have been fostered
by commercial organizations in the
cities OF the country to bring stable.
year-round industries which will en-
ploy people at fair wages. but the
Spokane, Wash. Chamber Of Commerce
is considering the proposition of or
ganizing q million dollar corporation
for the purpose OF encouraging new
enterprises. The plan is to assist
manufacturing concerns in securing
sites and in some instances investing
in first mortgage bonds issued against
their plants. The stock In the corr
poration is to be sold to business men
and property owners in Spokae ex-
clusively and viii not be listed. J. 8.
Gillespie, auditor of the Chamber of
Commerce, who worked out the plan,
thinks It IL the safest and most prac-
ticable OF the many that have been
submitted to commercial organizations
in the last few years. saying that the
proposition win appeal much more
strongly to a business man than a
straight donation. Mr.. Culbertson and
other members OF the committee share
these views and are prepared to back
the plan to the limit as soon as Il 10
put into operation.
This proposition is worth considera-
ton by the Pensacola people who want
the city to grow and herome an in
dustrfal center as well as a great sea-
port city. In discussing the merits Of
the scheme, Mr.. Culbertson says
that aside from the bringing OF in
dustries into the community OF which
the subscribers would be u part and
parcel insofar as ownership IL con-
cerntd, these very subscribers would
be beneflciaries otherwise through en-
hancement OF property valuations be-
sides the increase OF business due TO
the operating Of the enterprises thus
brought in. In plain English the plan
proposed is to expend money wisely
that 1t may bring great returns. and
to make the investment at home
A million dollar company including
the entire property owners as stock
holders would not be q very big I'm
dertaking for Pensacola, and while
The Journal doesn't endorse the plan
IN toto there are some good sugges-
lions in it and with amendments such
a company might be organized in the
Deep Water City which would prove OF
inestimable benefit to the city at large
and dividend payer to the stock
holders.
Such an organization If directed by
the best and shrewdest business men
OF the city could engage In the manu-
featuring business directly and instead
OF bidding for manufacturers 1t could
put in these manufacturing plants.
The small Industries are what we need
and under the supervision of one COM
petent superintendent dozen or more
might be started at first and when
these were put upon paying basis
others could be started.
A company Of this kind could be or
ganizod by the property owners and
stock could be sold to outsiders az
well and It would no doubt be at
tractive stock, for II manufacturing
plants can pay dividends on the money
invested by other people a big COM
pany with funds to handle It coulc
make 1t pay in Pensacola.
A company Of this kind, with al.
rectorate composed OF the bankers
professional. business and Industrial
men, we believe would pay q direct
dividend besides meaning hundreds Of
thousands of dollars yearly coming
into. the city in the form of payrolls
1t ~ worth figuring on at any rate.