United labor bulletin., 1912-08-15
The Patrons Manufacturing Company
Subscription Blank.

machine.
The Patrons Manufacturing Company
Subscription Blank.
We, each for himself and not for an
other, do hereby subscribe for the num-
ber of shares indicated at par and set
opposite our names, for stock in the
Patrons Manufacturing Company, pro-
posed hereafter to be organized under
the laws of the state of Colorado, for
Fifty Thousand Shares (50,000) at Ten
Dollars ($10) per share, par value, to be
located at Denver, Colorado shares fully
paid up and worcestershire.
We further agree to pay in said sum
or sums as below designated to the Ger
man-American Trust Company of Denver,
Colo, when Sixteen Thousand Dollars
($16,OOO) is fully subscribed, and not be-
fore, and that if said sum is not fully
subscribed, this agreement becomes null
and void
This becomes a contract: That when
Sixteen Thousand Dollars ($16,000) is
subscribed these subscriptions become
subject to payment. Further, when more
than one share is subscribed for and Ten
Dollars ($10) has been paid upon said
subscription, the remaining shares may
be paid for in monthly payments of Ten
Dollars ($10) per month.
1t is Further Agreed and Becomes a
Contract Between Ourselves and the Pa
irons of This Company, by it written in
the face of the stock certificates, that
the stock shall have an earning of no
greater than that of per cent interest
per annum, and that all other earnings
shall go to the credit of patrons, subject
to stock issued to them, as quickly as
their accredits accumulate $1,000, the par
value of one share of stock.
We hereby request that the following
named temporary officers and directors
shall serve for the first year:
Oficers-President, ]. H. Bearrup;
Vice President. Geo. S. Walker, secre-
tary and treasurer Wyoming State Wool
Growers Association; Secretary, E. ].
Huling; Treasurer, Godfrey Schirmer.
Acting Directors = Herbert George,
| Geo. S. Walker, d. ]. Osborne, E. ].
Huling, ]. H. Bearrup (six to be added.
| Consulting Directors-E l.. Scholtz, c.
A. Johnson, Edwin A. Brown, w. J.
Barker, w. S. Chamberlin, W. R. Cal
| licotte.
The very lowest sum with which oDer-
ations can be commenced is sixteen
thousand dollars (s18.O00) cash paid in.
| And with this, it will be necessary to
rent buildings that are adaptable and
offered at nominal rental, to then spend
ten thousand dollars (s10,0OO) in equip
ment, freight and installation of machin-
ly, leaving five thousand dollars (S5,OOO)
cry, leaving five thousand dollars (S5,000)
for working capital. With this equip
ment, it would be possible to turn out
cassimeres, flannel shirts, blankets, dress
skirts or cloth for that purpose, and
| trousers.
| Therefore, in this instance, the form
of subscription blank is changed to read
that the subscription for shares become
payable when sixteen thousand dollars
| (S16O00) is fully subscribed, that sub
scriptions for more than one share (after
one share is paid for) may be paid for
in monthly payments of ten dollars ($lO)
all payable to the German-American
Trust Company. Also, that six more
directors, of your selection, representing
union labor, shall be added to the pres
ent board.
With this equipment, the maximum
production would be five hundred pairs
(500) of pants per day of twenty-four
hours, to obtain which would require
working capital of fifty thousand dollars
(s50, ,000) but with a five thousand dol
lar (S5,000) working capital, one hun
dred 600 pairs may be produced, and
with that production union labor after
October 18th could secure these necessi-
ties at but little more than half what
they are now paying and know that they
were not only getting garments, but the
cloth from which made, under absolute
union conditions.
At an earning of only one dollar ($I
per pair, from this small beginning, very
quickly would be accumulated sum
with which to purchase plant and to in
crease equipment when necessary.
From the start, an individual can, upon
receipt of samples, come or send by mail
to this mill and buy the cloth. or they
can leave their order for the finished
garment and have it sent to any address
by mail. The merchant can do the same,
all getting their patronage earnings
above or besides the per cent paid
upon the capital stock outstanding, as
will also the wage workers in the mill,
and the producers who sell their product
to it,
| They get this patronage earning in the
| form of stock as soon as these earnings
! accumulate ten dollars ($10), the par
value of one share. This keeps the cash
in the treasury automatically creating
surplus or reserve, the lack of which has
caused the failure of SO many stock COM
panies
Union labor of Denver and Colorado
will, themselves, take production, fig
! ured in pants of one hundred (100)
pairs per day Besides, there are sew
eral times that number of people on Col
orado farms and ranches who stand
ready to buy upon this plan Once that