Evening journal., 1913-11-25
MILLION FUND TO BOOM CITY NOW THE AIM

appeal for from ono per cent. 70 ten
rcr cent of the amount subscribed
never exceeding Ten per cent.-eyery
month, If necessary, Tor n ready
cas- ia basis. OF course the amount of
thu monthly call cr bimonihly. 90
Il nHs appear 70 be- viii be gov
crnVd bv The desires OF the stock
holders II they iccl that three
per cent. call is sufficient TO meet
the working needs, tho directors win
coll for three rur cont. oi the sub
s,ribcl amount "ln the event of
loss, declared Mr. Marvel. every
man viii bear hs pro rata share,
although ve expect that at the end
uf hNe Ncars n Wun ran withdraw
his Investment plus 2 dividend
Nh Marvel then announced 10 tho
gathering that entirely without solici
tation on Che part of the Chamber Of
Commerce. f0m Bancroft had sub
scrihed for Sln0on worth of the stock of
the company. Iris announcement was
greeted with much enthusiasm. and was
followed hv the announcement that
John s. Montgomery also had sub
stiihed for $4,000 block oi stock Nh
rar,cl then called for Volunteers from
among the persons Pre- ent, 10 pledge
their support 10 the mos emcnt and the
following persons responded
Gibbons and Moore. Raider and Com
panvi Wilmington Sash and Door Com
rsnv. Delaware Hardware Company
David Hay aud Son Lippincoit ana
Company. S.. " nuratein. William g.
Philips the Charles Warner Company
tho Diamond lee and Coal Company
/ William D Mullen John s. Mullin'
/ Frank J Alderman vs.. G. McCorkin'
I dale. G. d. Garrcttson. Joseph s. VII
son. r. Allen Hilles. Consumers lee
and Coal Company. Byron G. Collier and
I Company. William + Nlettcn and Fred
h II. Steiule
\ 5000 600 Already Assured
N Nj Marvel began the discussion upon
the 81 100000 fund by explaining that
\ tho amount was for the encouragement
of indratrics 10 locate IN this city
and he hoped that the project would re.
sult iu something practical for the good
of the city He spoke of the progress
made IN pro-resaiYeism OF Wilmington
ians in the last twelve months One
wear ago he said the matter OF raising
/ 81 oOo 600 would have been treated as a
Joke and considered impossible whils
now the project was discussed seriously
IN tho belief that It was going 10 20
through Mr.. Marvel said they haf
| 5000 600 in sight before the public hes
been asked 10 contribute q cent, and
that the chamber has an additional cred
II of Slo0O00
Mr.. Marvel then introduced Robert
In. Pindell. Jr. industrial manager
of the Chamber OF Commerce, who
Explained just what the improvement
fund was expected TO accomplish.
Mr.. Pindell declared that there are
some persons who contend that no
CITY has the right 10 make an active
lcsnvass for industries while others
insist that IL Is the duty OF the conf
muuity 20 get as many new indus.
tries as they can without giyins
gifts away. such as tree land and
other inducements. He said thai
when the Chamber of Commerce mrs
organized, the lormulative period, 4
was the consensus OF opinion tina
they we're 10 make every effort 4
bring new industries 20 Wilmington
They now intend to do that 10 TIA
best of their ability.
Mr.. Pindell remarked that th
Chamber was up against Compet
tiou of other nearby cities who has
gone very much farther than wi
mngton has ever gone toward q
getting OF new industries and hal
more inducements to offer. He cite
instances in New York. Philadelphi
and other cities where indusirie
were offered legitimate inducementi
and declared that it Is necessity I
offer some Inducements to get the In
dustries.
III you want industries Il is ne
cessary TO go after then be said.
II have found that the communi
ties that are getting industries sr'
those that have met the Industries
half way"
Mr. pindell explained the manne
in which the Improvement compan'
would he conducted He said ths
when q person desired 10 erect
large building. he would 60 10 O bsnl
and borrow as much money Is th
bank was willing 10 loan on th
building. and then furnish the res
Of the money himself Often II va
necessary for the business men 20 &c
most of this balance from some in
dividual who was willing 10 loan
in hopes of making a big profit. Th
proposed improvement company Is {
act The part Of such AN accommodate
Ing individual only instead of loan
Continued on Page Thirteen.