The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-05-18

the present owners or new owners TO
acquire the plant. Several enterprises
have left Topeka in the past few years,
some of which have succeeded else
where and some have not.
Topeka has lost the Jensen Manu-
featuring Co. which sold out to Cherry
Brothers of Cedar Rapids, Iowa, not be-
cause of lack of funds misnanage-
ment, for 1t was an entirely success
full plant, but for the reason that they
sold to a good advantage and for the
further reason-claimed at leaSt-that
Cedar Rapids was better distributing
point for the output of this plant and
1 do not believe it was within the power
of this Commercial club to have re-
tanned this industry here.
Then the Western Wooden mills
business were compelled to leave here
because of insufficient business and
long distance from the raw material
The Stafford Motor Car company left
for Kansas City but after two years
experience there I am reliably informed
are again looking for a new location
and l hope that this club can do some
thing to relocate this enterprise in To-
peka with sufficient capital to make
it big success. For it is, and should
be, a Topeka institution.
Il only recall this bit of history to
freShen your memories upon the losses
Topeka has sustained within my
knowledge of Topeka and to arouse
y
fined plan OF action for our self-pres-
ervation. In my Judgment several
elements enter into the difficulty ex-
perienced here in Topeka in financing
First OF all Kansas for all its years of
past history has been and is now an
agricultural state.
Money Taken From Soil.
'"The money in Kansas has largely
been taken from" the soil or made in
mercantile pursuits. and as people
have prospered and reached that
point of life where they can retire or
remove to places of greater opportunf-
ties they have moved in numbers to
Topeka. These people because of lack
of information and knowledge would
prefer per cent real estate mort
gage or 8 u to per cent city or coun-
ty bond to a 10 per cent or even great
er non-taxable industrial stock, and
while a $4,000 bond issue by. the
city of Topeka will be over subscribed
in four or five days yet the most ex-
pert salesman or most successful man
ufacturer would exhaust his energies
in trying to interest the same amount
of capital in a good 10 per cent divi-
dend paying manufacturing enterprise.
Without any desire to criticize. this
is true of our banks as We'll. With one
or two exceptions our banks are oper-
ated by men who have come from the
small towns out in the state, where
the only security they were called upon
to pass upon were real estate mort
cages. and county or municipal bonds.
and it is not to be expected that they
would be proficient in extending cred
it to Industrial enterprises about
which they have no knowledge, and
naturally they are very conservative
and shy at large loans necessary to
carry to success such hazardous in
vestments as manufacturing enter
prices.
Stocks Could Be Sold.
'tUnd erstand me. I do not offer this
as any criticism but a natural condi-
ton that could not be otherwise until
the confidence of these men have been
established in Industrial investments.
True, there are a few industries in
Topeka whose stocks could rapidly be
sold, I believe to Topeka people, hut
these institutions have reached that
point where help is no longer needed
and it is to the struggling enterprise
who is trying to get a footing in the
commercial world that our attention
must of necessity be directed If we