The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-07-29
CITIZENS Will
BOOST DISTRICT
Formation of 100000 Holding
Company Well Received
Continued From First Page.

Continues From First PaSe.
point where they are regarded a
loafers.
Brown Relates Experiences.
Capt. ]. @. Brown OF Gallon, Ohio
finance commissioner OF the Copper
Country Commercial Club told wha
Gallon had done to establish stability
and prosperity, after II had lost its
principal industry the shops and
other Institutions of the Erie railroad
which had monthly payroll of 100000
Seven years ago the plant that is now
known as the Gallon Iron Works was
induced TO come to that town. IL being
necessary for the citizens TO raise $780,
600 TO secure this industry. a 100000
holding company was formed, The first
year the preferred stock paid a divi-
dend Of per cent and the common
stock paid nothing. In the second and
third years the common stock paid a 10
per cent dividend and in the fourth
year it was voted to put the earnings
Of the common stock into new build
ing. With increased capacity the earn
ings increased. the common stock now
paying 800 per cent in dividends.
The Cleveland GALLON Motor Truck
Works was another industry secured
for the town. $4,000 being raised in a
single day, whereas only $4,000 was
required.
The Northern Electrical company Of
Cleyeland consented to move To CAL
lion and manufacture its telephone ap-
paratus there. on condition that CAL
lion take 100000 worth of stock. In
two days the money was raised.
Similar efforts were described by
Capt. Brown, who also told what Twin
Falls, Idaho, had done to improve it's
condition by building a 100000 candy
factory.
Mr.. Brown complimented the copper
country on the community interest ex-
isting between the various towns and
people and stated it is a foundation
upon which great things may be built.
New Industries Badly Needed.
Attorney w. j. Galbraith referred
to the law which prohibits boys under
ardous occupations as an abominable
law which makes loafers of many
youths He stated that many boys
now leave the schools upon the COM
pletion of the eighth grade, also that |
it is necessary for many boys less |
than eighteen years of age, to assist |
their parents in providing for the |
want of younger children in big fam
lilies. This law, which prevents these
boys from finding work at home, |
forces them to leave homes and find |
work elsewhere, forces their parents |
TO move from this to some other COM |
wher they may work.
Mr. Galbraith spoke of the oppor-
tunity that exists in the copper coun-
try for the establishment of small in
dustries such as knitting mills to
articles, overall factories
and kindred industries. Fuel, he said
is from % to 80 per cent cheaper in
the copper country than in inland To-
where there is an all-rail |
haul. other advantages the copper
country offers to such industries are
the proximity to market and an ex-
cellent available supply Of labor.
w. B Anderson and James Virgins
spoke briefly, lending their enthusiasts
tic endorsement to holding company |
plan.
Copperdom Should Help Itself.
Edward Ulseth, in a brief business
like talk, commented on the fact that
the enrolment in the Calumet high |
school next year will be approximately |
/ 200 and that the enrolment in the
graded schools will be larger than |
ever before. 1t is up to the commu-
nifty to provide some employment for |
it's young people when they complete
their school work. Mr.. Ulseth pointed |
out il would be no hardship for the |
to raise 100000. He said |
II is time for the copper country to
~ doing something for itself. Even |
II the holding company should not