The Birmingham age-herald., 1912-05-18
CHAMBER OUTLINES PROGRAMME FOR NEW INDUSTRIES Will Not Finance Any En- terprise, Wholly Or
 in Part
TO TRY TO DISCOVER
 NEW OPPORTUNITIES
Will Not Recommend Any Individual or Corporation, Nor Refer Any Promoter to Prospective
 Investors


 The stand that the Chamber of Com nleree will take in regard to the matter of new industries was definitely out lined at the meeting of the board of directors yesterday afternoon. The indus trial bureau made q report to the board an which it recommended a number of matters, all of which were passed.
 That Birmingham has outgrown it's kwaddling clothes and is ready to take dts stand among the foremost cities of the land is shown by the action of the Ifominent civic men of the city. There arc always number of applications and requests before the industrial bureau ask sng that bodys help and influence in ob- faining and helping new industries. The way that the Chamber of Commerce looks directors adopting the following resolu- ttons of the industrial bureau:
 Resolution Adopted
 l 'swhereas. numerous applications have been made from time to time to the in- Gustria1 bureau requesting the Chamber of Commerce to lend it's Endorsement to various industrial enterprises, and to rec pmmend the same to property investors, we would respectfully recommend that the following policy of the Chamber Of Eommerce of Birmingham be adopted:
 "The Chamber of Commerce of Bir- mirgham has available cash bonuses or free sites to subsidize new industries, ps to bolster up weak business organiza- lions. These things may be advisable in Ecme cities, but usually they are offered hn places which lack some fundamental eoonomic advantage, and must make up the need. The manufacturer who locates chiefly by reason of such artificial in- ducements frequently discovers, within a very few years, that poor shipping facil- dties high freight rates, insufficient or ancompetent labor, or some other equally vital disadvantage has more than out weighed the temporary aid, If it has not Indeed, wrecked his business As a gen. eral rule, Birmingham does not want industrial projects which cannot make good in Birmingham without such aid. Furthermore, a consideration of all tho fleets will quickly convince any business man that the Chamber of Commerce could not properly attempt to market stock or bond Issues, or undertake the financing fGf--hny new InduhIi1eS. Ine iOiiOW1uS rules have. therefore, been laid down for general guidance.
 Rules Laid Down
 ''The Chamber of Commerce will not, as such:
 T. Finance any enterprise wholly or in part, or provide any free site or cash borus.
 ..2. Recommend any individual or cor roration engaged or proposing to engage in any manufacturing enterprise.
 ''5 Refer any manufacturer or promo fe., to prospective investors.
 .sThere have already developed some ways, however, of rendering legitimate assistance in the organization of indus trial enterprises. and others may develop. The commmittee now has in it's files a con siderable amount of correspondence from the owners or promoters of industrial en- rerprises which will locate in Birmingham if some of their securities can be mar Reted here; in most cases the data on file is sufficient for any prospective investor to determine whether or not the project is worthy of his future interest This data is always available to members of the Chamber of Commerce and others who have money to invest or who would care to undertake the marketing of such se- curities; and anyone interested will be referred to the parties offering the invest ments. The committee will probably al- ways have number Of such proposi- dions on file, and all who may be inter- ested are urged to call at the office of the secretary for the purpose of looking over this data It must be thoroughly un- dtrstood, however, that the Chamber of Commerce does not, in any case, indorse or recommend any company or promoter. or guarantee the reliability of competency Of any persons
 Discover Opportunities
 ''The main effort of the committee, how ever, will be to discover opportunities. prove that they exist, and keep before the public and investors the Hong felt wants of Birmingham If the Chamber of Commerce shows by definite figures, for example, that Birmingham is we'll sit liated. economically, for a particular in- dustry-much better situated than the places where that industry Is now con ducted; that there is in Birmingham and vicinity large consumption of it's prod uct, which now has to be brought from distant points, paying high freights, and that xhe cost of such product Is high even at the point of production because ; its raw materials have a longer haul than would be necessity to Birmingham, such facts stated on the authority of the Cham Der of Commerce and placed In the hands of persons competent to handle such an enterprise, will be the greatest possible in- dueement for the investments of capital
 'tThe committee believes that these real want supplying opportunities are the