Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1912-01-24

ceiyed the highest commentator from
every one present at last nights en-
| thusastiC meeting, and President
Stern gave assurance Of his personal
support and the support Of the club
was evidenced BIS the unanimous vote
for a committee TO push the market
proposition
The decision TO accept the PROPOSE.
I ton made by Mr.. Green on the can
/ ming factory was made after consid-
cradle discussion pro and con. the
! opinion of some being that the in
vestment of $4,000 should not be ne
cessary 1t was explained that that
amount Is not invested merely In the
| local factory but win secure stock
In the Green Canning company oper-
ating seven factories. Even II the
local concern should be a failure the
company's stock is now paying 6 per
| cent and those investing would con-
tinuo TO realize on the investment.
! The status of the Green company has
been looked into thoroughly by Secre-
| tary Thomas j Naylon and their rat
ing is all that could be desired BY
already having the other factories ON
a paying basis the company will be
able to support the factory in this
city until Il has attained sufficient
strength TO support itself With the
experience and standing that the
! Green company has Il was finally de-
/ cided that the best interests of the
| community were TO be conserved by
the acceptance of the proposition.
Mr. Green's letter to Secretary Nay
Ion fully explains the proposition in
all It's details and gives a good idea as
to what such an industry will mean
to the city:
Denver. Colo. Jan. 10, 1912.
| Mr. j. n. Naylon. Secretary CONNER
cial Club. Albuquerque, n. NJ.
I Nv Dear sir;
Referring 10 your telegram of the
9Th inst, will state that Il viii be Inn
possible for me 10 attend your meet
ing the latter part of next week or
somewhere between the goth and goth
and & you can arrange matters ac-
cordngly. ! will be glad to do so /
wish. however, TO make your club the
] following proposition:
4 We will build y small factory there,
adequate to take care OF the products
that are grown ,or the factory, until
larger equipment would be profitable,
providing your people will take three
thousand $1,000 dollars OF the pre-
ferred stock OF this company which
we have never sold for less than par
and We win give, as q bonus, seven
hundred and fifty (75000l dollars OF
common stock 80 be distributed pro-
portionately among the subscribers
for the preferred stock Our prefer
red stock is entitled to per cent cum
ulatiVe dividend and IL preferred, az
10 assets. We are now paying 6 per
cent ON our common stock In addition
TO the Z per cent on the preferred and
ouf business has increased 100 per
cent each year, since | bought a con
trolling interest In same and viii un-
dodbtedly reach close 20 n quarter OF
a million during 1912. We own and
operate four canning plants at the
present and have just taken In the
Miliken Canning Co, located al Mill
ken, Colorado. and will build another
lat Wattenhurg, Colorado. this year
and II we build one at Albuquerque II
will give as seven plants. We are will
Ing To risk an investment In the Alba
querque district and In event OF the
failure to make the plant pay, the
other plants that we have IN opera
ton, will take care OF this deficiency
and the subscribers for the stock vii
have good paying dividend stock
even n the Albuquerque plopositlo.
Is not a success. All the factories W.
now have In operation are on a pay
ing basis and 4 would be a wiser pol
, Icy for your people 10 have stock Il
a company whose business Is ALREADY
established on a paying basis, than &
take stock In an independent comphn.
i there, whose success would be prob
: lematic Our stock. both preIerrel
, and common, Is fully paid and non
. assessable II YOU expect 10 build
+ factory there, that would be OF per
! manent value 20 the community. a
d well as the parties who may take d
same, / would suggest that YOU IN
b. torest someone who IL already egtah
lished in the business and who under
stands the management of same, as
A Is the history Of promoted factories I
1 be- failures, without exception.
!. would prefer 10 have from l5 TO
Y stockholders than TO have less mum
4 her as this larger number would "a
\ list a larger number OF people In N
n success OF the company ! would sul
Is gost that You work along on th
d line. prior 10 my visit and II "a
= can be- accomplished, ! will come IN
medlately and close up all other al
rangements might say that han
le Just closed similar deal for Waiter
o, burg. a town within six miles OF n
largest factory at Brighton, and q