The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1912-05-30
LENARD MATHEWS
GREAT SCHEME
A Novel And For.Reaching Solution
of the Industrial Question
Suggested.

St. Louis, Mo, May -(Special)
The novel and far-reaching solution
Of the industrial situation in the Unit
ed States, which has been suggested |
by Leonard Matthews, banker, brok /
er and business man of 5447 Cabanne
Avenue, st. Louis, is arousing nation
wide interest. Philanthropists and the |
men of the country generally |
realize the need of some such plan and
the thinking men of the country gen
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 small
scale with comparative success has
lead Matthews to the belief that cen
tral cooperative concern, owned by
the people and under the supervision
of the government, is the solution of
the trust evil. The magnitude of such
company would insure its perma-
nency
Matthews would have this central
company operate in perpetuity under
a federal charter. 1t should do 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 acrostic 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 a
large part of the profit in excess of
that amount win 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 1t
could pay state and national taxes, inn
prove roads, erect bridges, museums,
school-houses, build canals, deepen riv-
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 direct appeal
for support are being mailed to dele.
gates to the national conventions OF
the leading political parties. Matthews
lis seeking recognition for the Eota
Company from the national parties and
lis asking the delegates at the conven
ltions to go on record relative to the
question.
AS suggested by Matthews the idea
is new one and so novel that it re
quires broad mind to grasp at once
the magnificent opportunity offered t
better the economical situation. Ma
ture thought and discussion has prov
ed the possibility of the merger ant
converts will rapidly put the demand
TO radoption into general appeals tt
the leading men of the country.
To prevent any set of men from
gaining control of the company it il
proposed to make subject to call a
par stock owned by any stockholde
in excess of $150,00O Existing cor
porations are to be granted fedora
charters limiting their term of exist
ence to 25 years and requiring tha
ll2A per cent of the capital stock of al
corporations be set aside in a sinkin
fund from which to reimburse tn
stockholders at par at the end of tn
l25 years? Or the corporations ma
come into the Eota Companyfat' ono
by exchanging their stock at fai
market value for the stock in the Eot
Company at par This plan woul
stop the non.producers from absorbin
an undue proportion of the wealth c
the country and would give the fa
mer and the laborer fairer propo
\ ton of the wealth they produce.