Evening journal., 1913-11-01
MILLION FUND
FOR BUSINESS
SEEMS CERTAIN
ihamher Of Commerce Inter-
eStS City Bankers in the
Guaranty Project
SIX SUBSCRIPTIONS
TO COMPANY STOCK

local bankers and the board OF dircc-
tors OF the Chamber Of Commerce held
conference yesterday afternoon, when
the proposed 81 100000 guaranty fund
Tor the development IT industries here
was discussed. The bankers expressed
themselves as being IN favor Of the plan.
and II was tho feeling OF those present
ihat the development company, as
planned by the Chamber OF Commerce,
should have credit rs cndorser or borr
rover for the purpose OF assisting in.
dustries IN this city.
Tho conference lasted two hours, nnd
It was one Of the most remarkable gath.
erings ever held here in which the vel
fare Of the city's growth as an indus
trial center was discussed. The confer
encc was presided over by Josiah Mar
vel, president OF the Chamber OF Com.
rnerce. who explained what the guaranty
fund committee had suggested. Then
followed a discussion in which Otho
Rowland, Colonel Benjamin Niclds and
James P. Winchester took part Others
who spoke were w. d. Mullen, Harold
s Schutt, John Bsneroft, Robert NJ.
pindel and George II. AIcGorern, OF the
Chamber OF Commerce
Aside from the impressive spec
tace OF the financial interests and
business men 30 earnestly discussing
what was best for the city. tho very
fact that these men could be brought
together with such uuanimity speaks
we'll for the future.
Representative OF the Chamber OF
Commerce who we're seen last night
Expressed themselves as being conf
dent OF the complete success of the
49, aaN A - 4 IL
now Ia for skook subscriptions, and
a campaign for these will be begun
at once.
When the subscriptions are secur-
ed then IN the way OF financial in
ducements. At least Wilmington will
have everything that any other city
has. aud II the manufacturers cannot
be secured, the cause will have to be
charged to some other account than
= lack of financial encouragement
At the conference the following min
ntc was unanimously endorsod
At the conference of bankers
present with the board OF directors
Of Tho Chamber of Commerce yes
tcrday. the proposed development
plan was discussed very thoroughly,
and IL was the feeling OF the bank
crs present that such "A development
company would be entitled to credit
as cndorser or borrower for thc
purpose OF assisting desirable indus
tries in the city Of Wilmington.
The bankers present expressed
themselves as being in hearty ac-
cord with the movement Of the
C,mmber Of Commerce toward the
Development plnn proposed, and
stated further that all proper efforts
10 increase CIV industries OF VIII
Iiin-tdn and thereby the general
Welfare would have their encour-
agcnent The plan contemplates a
Sl.900,O0O guarantee fund for the
WORK.
President Marvel. or the Chamber
OF Commerce. this morning said:
1T Is more than gratifying TO be
permitted to express for the Chamber
Of Commerce the satisfaction We all
feel because OF the action OF the VII
mington banks. The success OF the
proposed plan has always contem-
plated the approval Of the financial
interests aud now that the latter
have SO commeDdably responded to
the call, the matter is up to the peo-
pie Of Wilmington.
What has been done in Boston, In
Wilkesbarre, in Davenport. In Easton,
Pa. Il would not be unreasonable to
suggest can be done and will be done
in Wilmington. The financial inter
ests have responded commercially
and nowit il expected the people OF
{ Wilmington will DO theif part.
Nearly every man YOU taik to on
8 Wilmington affairs. will express hi.
Regret and wonder that Wilmington
appafentiy stands stiii or ktoWs slow
IS ly while ether cities OF the SAM
niaes, that have hot the advantage
g Of loeafion and enNfonmeht are out
stripping L IN the race.
There are un6uesti0nabiy othe
( thlhes which WILMINGTON needs be
side the means to encourage the ioca
don Of industries, but those ID q DO
sition 10 know, will not deny that th
s development fund or something OF IA
kind Is q need In the presence OF th
competition between cities At thi
lime which cannot be Ignored"