Omaha daily bee., 1916-08-19
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o,,ab, Aug l6.-To the Editor Of The
psa seeing "A letter in your paper few
days ago from gentleman VINO was NV
able to place his money in one OF TINS cNs
building and loan associations ana ASKING
for advice as to what he could do with II,
will saw there are reliable factories locateu
in this city that could use this money can
offer good security and are Wiling 10 pay
larger interest than the building ana ioahs'
Factories already located in Omaha, with men
of ability at their heads, are struggling along
without sufficient funds to accommodate their
orowing business because of the very stu
pid and dangerous idea abroad mere not !"
out money into manufacturing enterprises
The Commercial club of Omaha is quite &C.
tive at the present time boosting for new fac
tories and offering prizes for the best an
swers as to What factories will most readily
succeed in Omaha and why?" Neither the
factories already here nor new ones coming
in are going to succeed in Omaha until the
people of Omaha waken up, shake on ther
swaddling clothes and with them the primitive
idea that real estate Is the only safe thing
to invest money in.
Omaha has had one terrible slump in real
estate. This is well remembered in the
east, and l was asked when there recently
what this city now had to prevent recur-
renee? Were there many factories hereT
Omaha has grown to a point where 1t is
dangerous to go without more value creating
and sustaining industries. and the people OF
Omaha must change their views In this re-
gard and do something more vital than boost
if it keep the factories 1t already has and
gets new ones. There is a great deal OF
eastern money in Omaha. which is all right
up to certain point. but it is unfair when
we have become able to carry part of our
own load to induce people from other places
to start factories here. put their money in
these enterprises, which means pull up
stakes, cut loose from great deal they
hold dear, to root or die among strangers in
a town that has no claim upon them be-
cause of its unwillingness to bear any Of
its financial burdens, Omaha people being un-
willing to loan money to help carry on le-
gitimate industries even when good security
is offered.
Under these circumstances how can Omaha
hope to succeed as manufacturing city.
when eastern cities with the best railroad
connections, located on navigable rivers and
where natural resources make manufacture
convenient and cheap are offering large boz
muses. and sites to induce new industries to
locate with them, besides being prepared to
give financial assistance to worthy concerns
already located. As anyone coming from In
dustrial centers knows, it Is not a bad sign
for a firm to need money. This need does
not always arise from the same cause. but
whatever the reason additional money will, in
the majority of cases, tide them over dearly
bought experiences. lack from quick increase
of business, etc.
Shame on Omaha. that after a brave strug-
gle of two or three years a worthy firm was
let go to the wall some time back, factory,
the only one of its kind in the city. have
never been a manufacturer. but having re-
sided most of my life in one of the largest
industrial centers in the country and still
being in touch with industrial people know
whereof speak.
AN OMAHA WELLWISHER.