The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1923-11-16
CONTINUED from page y
CANNING PLANT
FOR NEXT YEAR
NOW PROBABLE
Caldwell Citizens Con-
tract With Payette
Concern to Put Idaho
Corn on Market

agrees TO have said factory IN opera
ton in time to handle the 1924 corn
corp. provided the second parties car
n out their par; Of this agreement
within ninety days from this date.
$4,000 Capitalization
1T is agreed that a corporation
shall be organized with an authorized
Capitalization OF liity-ThouSand ESQ.,.
OOOOO Dollars. that $2S.0OoO0 OF said
stock shall be issued TO the persons
and in the manner hereinafter pro-
vided. and that S2SlOO000 thereof shall
be held as treasury stock until dis
posed OF according TO law.
said committee. said second par
ties. agrees to handle endeavor to pro-
vide Sl2.0O0OO in cash from the citi-
ems of Caldwell Idaho for the pur-
chase OF stock in said corporation OF
the par value OF Sl2,0o0oO. with the
understanding that approximately So
10000 OF said sum shall be used Tor
the purchase OF site and the erection
of the necessary factory buildings. and
the balance OF said sum OF Sl2oOO.OO
to be used for the purchase OF maohin-
ery and equipment for said factory.
said first party agrees to provide.
rs its own expense. necessary machin-
erv of a cash value OF S7.ooo0o. and
for said sum OF 100000 and Tor first
pariy's good will. trade marks, brands,
marketing facilities. manufacturing
and selling organizations. valued at
100000. said first party. or its repre-
sentativcs. are TO receive capital stock
in said corporation OF the par value
of Sl3.Oo0O0. 1t is understood and
agreed. however. that the citizens ol
Caldwell. Tor their Sl2.Oo000 in cash
to be advanced. may, ii they desire
receive their stock in cumulative, pre-
ferred stock OF said corporation OF
eight percent par value OF Sl2,OWW
Will operate Plant
'In case said sum OF Sl2,OOOOO bs
so furnished by the citizens OF Cald
well. first party agrees to operate sale
canning factory at Caldwell Idaho
taking the entire charge OF and fur
nishing the entire organization Tor th'
operaiion thereof and the marketing
OF the products OF said factory. an'
that said first party shall furnish thu
necessary working capital for said fac
tory. First party further agrees tina
ali products from said factory shall b'
marketed under the established brands
OF Idaho Canning Company.
at is agreed that said corporation
TO be so organized shall be managed
nv hoard OF FIVE directors, three o
whom are to be named by said ldah'
Canning Company and two by tn
citizens OF Caldwell, Idaho.
in case said factory be so estab
lished. then the citizens OF caldwell ar
TO secure contracts from growers as
surfing the raising OF eight hundred
acres of corn for said factory for tn
year 1924.
Furnish Bond
1T is agreed that when second par
ties have raised said sum OF Sl2,ooO.0
and have secured said contracts 10
the raising OF 800 acres OF corn for tn
year 1924, that no part OF said sur
shall be expanded for any purpos
until first part shall have furnishe
for the persons subscribing said fund
a satisfactory bond guaranteeing tina
first party shall provide said machiner
OF the value OF $4,000. and shall OF
crate and finance said factory Tor
least one year.