The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1913-02-07

} bonus method so universally used in
many of the cities, but | am thor
oughly in favor OF assisting all
worthy and deserving enterprises to
additional capital, either through a
direct loan or by stock issue.
My desk is today covered with op-
portunities to secure for our CITY
enterprises that are financially en-
barrassed or have been failures in
their present localities. By sitting
out the worthy from the unworthy.
have been frequently able to land
an industry that has made good.
find that no industry, doing well
and prosperous, is cut after a new
location It is usually always the
fellow who is looking for new field
who has been unfortunate in his
location or financially embarrassed
through incompetent management
There are instances, of course.
where personal differences have aris-
en- between the management and
interested holders of stock, and a
change would probably result in
good for the enterprise.
The plan | have found to be most
successful in getting in touch with
, institutions who are looking for
new opportunities either to build
! branch factories or to relocate their
present plants, has been to have
all of the varied interests of my city
on the alert. and whenever they
learn of anything that they think
would interest me, or be of interest
and advantage to our city, they give
me tip. and / usually find that |
! am not long in getting in touch with
! the situation. In many of these in
! stances | find that my Informant is
/ not fully advised, but | figure that if
| | can even get "A nibble out of one
! in ten or fifteen, that | will man.
age sometime during the year to
add a factory plant OF some kind
! or another to the industries of nv
! little city.
OF course, | could go on and re-
cite to you numerous instances and
perhaps some specific cases where
this has worked out and where il
has not worked out, but you will
gather the idea of what | say and
excuse me from occupying either
any more of your time or my own
| in trying to advance ideas and az
guments for one who is perhaps
much better prepared to handle the
subject than I am.
| appreciate your inquiry and will
be glad, of course, to serve you at
any time Cordially yours, George
SchlCsser. secretary.
Mr.. Soaring said that there was
no mere important matter that the
club could consider and he desired to
have the club declare what it's policy
would be in regard to assisting en-
terprises that were found worthy
and which might be secured for
Mankato. If no assistance was to
be rendered, he would like to know
it. so as to be able to govern his
efforts accordingly.
Several Suggestions Made.
+. f. Pay thought that it would
be best to make a thorough investi-
cation and try TO get factories here
that wosld be particularly adapted
to this locality. He suggested a
canning factory. This would be in
a great measure necessary to their
ultimate success
Albert Schippel enrounced that
after studying the matter great
deaL be was of the opinion that
it would be necessary to secure
the cooperation of the working class
i'm order to make factories sue
cess after they were induced to To-
cate here. He also thought that the
matter should be investigated very
thoroughly so as not to get ''stung"
on some bogus concern. He quoted
from a statement OF Carl Dainway Of
Cincinnati who said that in order
to insure solid industrial growth
three things were necessary. First
to have the factory as near as pos /
sible to the source of raw material, !
for the business could not be car
ricd on successfully il the raw ma |
terial had to be shipped great dis
taucc. Second, that the conditions |
be favorable to the converting the |
raw material into the finished pro-
duct. That is, labor conditions |
should be favorable, cooperation |
with the workmen would be neces- !
sary. and taxes, insurance and liv- |
ing expenses should be low enough |
so as not to prohibit workingmen
coming here to work in the factor
les. Third, ability to reach the mar
ket with the finished product. A
factory should be so situated that
the freight rates on the finished |
product to the locality whore it is
to be disposed of should not be pro-
hibitive to the paying of dividends
by the company. Mr.. Schippel was
not in favor of giving any company
a cash bonus nor was he in favor
of having the home people furnish
from one-half to two-thirds of the
capital and the promoter getting the /
benefit. He also thought that it
was very necessary to induce the
young men to stay in Mankato in
stead of leaving for some other city
to make their fortunes. In order
to do this, Mr. Schippel furnished
a model plan, showing that, after as
he advocated, young man had been
induced to purchase property to
keep him here, he could by judicious
and close figuring
make success and pay for a home
of more than moderate proportions
on a twenty-year plan. He said that
in order to get factories to "Ome
here it would be well to have power
as cheaply as possible and
was also in favor of having single +,
telephone service. Railroad facili-
ties, he said were also vital
point