Jasper County Democrat, Volume 15, Number 6, Rensselaer, Jasper County, 24 April 1912 — How the Dear People Are Worked In Buying Factories. [ARTICLE]

How the Dear People Are Worked In Buying Factories.

An example o>f the way factories are located is disclosed in a suit 1 w hich was compromised in the Tip-1 pft-anoe circuit court a few days' ago. A few years ago a promotor named White located a small thread • actor}' in Montioello, for which Monticello paid the thread people in good Jiard cash. It also pail the promotor. we understand, a good sum for locating the factory. Later on ifce promotor sued the thread rer-ple for $4,000, his “comtnissiaa” for helping tihe latter b!e-d Monticello tor the $12,500. and the case was compromised in the Tippecanoe court, where it was taken on change of venue by his accepting SI,OOO from the thread people. ' Rensselaer people will recall how the promoters of the “factory” fund here—who were also to locate a factory here for which, had they 1 succeeded, they won. d no doubt ha\e get one-third of the bonus —and carried off SI,BOO, the first $lO paid on each and every one c- the 180 lots sold. It will also be recalled how these promoters had several different sets of "cappers' here during the lot sale who were just dying to locate their big factories in Rensselaer, one set alone would employ 500 men right I away, it will be remembered, which was so unreasonable that it would seem it should not have fooled anyone as to the sinoerity of the "factory p>eople in wanting to come here, for SQO men employed would mean the doubling of tthe population of Rensselaer at one fell stroke, or nearly ao, i But the lot sale promoters did not locate any factory here and consequently the SI,BOO is all they got from us. Another promotor, however, named Sterling did "locate” a match ‘factory in Rensselaer and got 10,U'>o good round simoleons and about 50 acres oif and worth per acre for the locating act. A building costiing peilhapa SIO,OOO when completed ar.d free of liens was erected. The superintendent of its construction told the writer that it would take $3,500 to $4,000 to complete it, however, and there is upwards o'. $4,000 in liens filed against it by supply men and mechanics who worked upon it. And Rensselaer has got no .factory in Gyration eitiher. The moral of all this is to be a little wary about dealing with factory promotors, and make them put in at least as many dollars of real money of their own as you pay them in bonus. Then, if the factory fails to go, they will be losing something as well as the people who put up the dough in good faith to get the enterprise.