The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-07-25
OUTLINES PLAN
OF ORGANIZATION
Commercial Club Officer Tells
Objects of New Company

Numerous counter attractions, chief
or,onr which was the Copper Country
,,boutauaua, resulted i'm n small at
,o,douce at mass meeting last night,
called by the Commercial club To con-
cider plans for the organization of a
,,lding corporation. However, the
cI,,b's officers are not disheartened and
another meeting will be held within n
foy DAYS. President Joseph w. Sell
don of Calumet, spoke briefly ON the
suhiect Of the meeting and J. G. Brown
If Gallon, ohio, the finance commits
.ioner who will organize the concern,
ave brief outline of his plan.
The attendants principally were
Hancock retail merchants ana repre-
sautatives of other industries were
conspicuous by their absence. OIL
GERS of Tie club, however attribute the
small attendance To the lack of pub
li,ity and therefore, n vigorous cam
noign for n big meeting will be
launched.
Purpose of the Company.
The purpose OF the nolulnB company
was explained last evening as follows:
There will be incorporated under the
laws of the state of Michigan $780,
600 corporation. with 10000 shares OF
y mar value of SO per share. This
stocl, will be offered for sale through
out the copper country. The fund will
he placed i'm the custody of board
~ directors to be elected by the stock
holders, and il will be invested by
this board, If il sees fit, in legitimate
industrial enterprises which have been
thoroughly investigated and endorsed
nv the commercial club. In other
words. upon the organization of the
holding company. the commercial club.
so far as its industrial activities are
concerned, will resolve itself into n
finding company"
Stockholders in the proposed hold
ING company will become sharehold
ers in these industrial enterprises.
Dividends paid upon the funds of the
holding company invested in the stock
Of these concerns will be paid into tie
general treasury of the holding com
pany, and distributed among the
shareholders of the latter, in the same
manner as are the dividends paid hy
subsidiary mining companies into the
treasury of the parent corporation. AS
an investment the holding company
is regarded as favorably,
at least, as is the average mining
scheme at the present time, while
there is the added advantage in the
holding company of putting the mon
ev TO work at home. where IL viii not
only earn dividends, but will furnish
to hundreds of men, boys
and girls and add materially to the
general prosperity of the district.
investigating New Industries.
The club has now found" and is
four prospects which
have impressed the executive commit
tee very favorably. A. f. Heidkamp |
of Lake Linden, n member of the eX-
ecutive board, left yesterday for Mil
waukee. where today he is investigat
ing two of these propositions. one of
these is prepared Immediately to To-
cate i'm the copper country and to be-
gin the manufacture of automobiles,
of which it has already sold n years
output for export trade. This con-
Germ will employ at the start 100 men.
with an annual payroll of 100000. An
other institution which can be brought
to copperdom by a small investment
i'm stock will furnish employment to 10
men and so girls and boys, at good
wages. A third, which manufactures
n machine upon which it has a mono-
poly, will employ 100 skilled mechan-
les at the start.
Mrs. Fred Coon and children of Du-
lnlh are In Hancock for q short visit |