The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1924-02-08
'CUSTOMER PLAN FOR
M. P. |. CO. STOCK.
MINNESOTA POWER & LIGHT
COMPANY OFFERING
STOCK ISSUE.

| An announcement OF unusual IN
terest to local people is made thi.
week by the Minnesota Power &
Light Company. The announcement
states that every one may become
interested in this business by In
vesting their savings, either in small
or large amounts, in shares of the
Company's Cumulative Preferred
Stock, which pays dividends every
three months amounting to 81 a
share each year, bringing an income
of more than IA Go on the money
invested.
Knowing that a large number
would like to take advantage of such
an exceptional investment oppor-
tunity, the Company is offering the
stock for cash and on most liberal
partial payment plan. Payments as
low ASSOC month will be accepted.
This places the security within the
reach of all.
Customer Ownership, said an
official of the Minnesota Power &
Light Company sis growing rapidly
all over the United States. One
customer in every seventeen is now
an owner of electric power and light
securities. Two hundred electric
power and light companies are en-
gagged in the sale of securities to
their customers. This is practical,
business-iike, and in the public in
terest.
Believing that all public service
companies should encourage such
public ownership, Minnesota Power
& Light Company is selling its first
issue of Cumulative Preferred Stock
to its customers, employees and other
local people. This stock pays divi-
dends every three months and we
believe local people are the logical
ones to receive the money the Com
pany will pay out every three
months, thus sharing in its success.
''This will be of mutual advant-
age. Customers and others who in
vest will gain by receiving dividends
which amount to over IN 90 on the
dollar, while the Company viii gain
from them a more cordial interest in
its affairs and a better understand
ing of what well-managed electric
power and light company means to
the everyday life of all of us.
This stock is not something for
rich people only Folks who have
only hundred dollars can invest in
our stock on exactly the same basis
and enjoy the same rights and priv
ileges as the person with thousands
of dollars to invest. Anyone who
would like to invest his savings will
find this stock the answer to the
question, where can / put my saw
ings so that they viii be SAFE and
still earn as much as per cent
for sme?
s1What l consider one of the fn-
est things about our stock is that it
is CUMULATIVE. This means that
all money due as dividends to Pre-
ferred Stockholders must be paid
before the owners of the second
preferred or common stock can re-
ceive cent.
''The stock is free from city,
county and state taxes in Minnesota
and the income from the investment
is free from the normal Federal In
come Tax.
A very important feature of our
Customer Ownership Plan is that
the Company will maintain a resale
department at it's Offices for the
benefit of local stockholders who
may wish to sell their shares. When
folks buy stock or other securities
they too frequently neglect to make
sure that If they wan to realize on
their holdings they can do so easily
and promptly.
"More than 80 per cent of the
employees of Minnesota Power &
Light Company have already pur-
chased these shares, which is the
best indication of how our own
workers feel about this stock as a
safe investment.