The weekly chieftain. [volume] (Vinita, Craig County, Okla.) 1905-1913, 1912-05-31
LENARD MATHEWS
GREAT SCHEME
A Novel And For-Reschins Solution
Of the Industrial Question
Suggested.

St Louis. No, May 30.-(Special.)
The novel and far-reaehing solutionl
Of the industrial situation in the Unit
ed States, which has been suggested
by Leonard Matthews, a banker, brok-
er and business man of 5447 Cabanne
Avenue. st. Louis, is arousing nation
wide interest. Philanthrop.sts and the
thinking men of the country generally
realize the reed of some such plan and
the thinking men of the country gem
orally realize the need of some such
plan to settle the difficulties that have
arisen since the money power has
reached its overpowering predomi-
nance.
The fact that cooperative companies
have operated in Europe on a small
scale with comparative success has
lead Matthews to the belief that cen
trail cooperative concern, owned by
the people and under the supervision
of the government, is the solution of
the trust evil The magnitude of such
a company would insure its perma-
nency.
Matthews would have this central
company operate in perpetuity under
a federal charter 1t should do a gen
eral banking, insurance, railroad, gen
eral utility, manufacturing and mer-
camille business. He would call the
company the Eota Company, the name
being the acrostie of the phrase
Equal Opportunities To ALL" which
the originator of the plan believes the
concern will give.
The dividends of the company will
be limited to six per cent and thus
large part of the profit in excess of
that amount will be returned to the
consumer in lower prices. Wages will
be increased and the price received
by the farmer for his produce will be
enhanced in proportion to the amount
the consumer pays for it,
The result will be to raise the stan
dard of living and better the entire
country and the people. Students of
this wonderful plan have agreed that
the potentiality of the Eota Company
to earn money In excess of the six per
|cent dividend will be so great that it
could pay state and national taxes, inn
prove roads. erect bridges museums,
school.houses. build canals, deepen riy-
ers, protect land from overflow and
maintain parks and geological gardens
Farmers and laborers are eagerly
discussing the plan and are calling on
their political leaders TO express opin-
ions. Pamphlets with a direct appeal
for support are being mailed to dele
gates to the national conventions of
the leading political parties. Matthews
is seeking recognition for the Eota
Company from the national parties and
is asking the delegates at the conven-
tions to go on record relative to the
question,
As suggested by Matthews the idea
is new one and so novel that it re-
quires a broad mind to grasp at once
the magnificent opportunity offered to
better the economical situation. Ma
ture thought and discussion has prov
ed the possibility of the merger and
converts will rapidly put the demand
TO radoption into general appeals to
the leading men OF the country
To prevent any set of men from
gaining control of the company it is
proposed to make subject to call at
par stock owned by any stockholder
in excess of S150,000 Existing cor
porations are to be granted federal
charters limiting their term OF exist
enee to % years and requiring that
.2A per cent of the capital stock of all
corporations be set aside in d sinking
fund from which to reimburse the
stockholders at par ak the end OF the
.25 years? Or the corporations may
come into the Eota Company at once
by exchanging their stock at a fair
market value for the stock in the Eota
Company at par. This plan would
stop the non-producers from absorbing
an undue proportion of the wealth of
the country and would give the far.
mer and the laborer a fairer proper