Rensselaer Semi-Weekly Republican, Volume 41, Number 19, Rensselaer, Jasper County, 17 November 1908 — PROPOSES TO RAISE A FACTORY FUND [ARTICLE]

PROPOSES TO RAISE A FACTORY FUND

H. Deam, Representing Chicago Industrial Association, Offers Plan That Looks Feasable.

Several members of the Rensselaer Commercial Club, which has been as dead as a door nail for the past two years, gathered Friday afternoon in ; Foltz & Spitler’s law office and met H. Deam, of the Chicago Industrial Co., and he outlined to them a method lor securing a factory fund. The plan is one that has been worked in many other places, and is for the Commercial Club to buy a tract of I land, subdivide it and sell the lots. . The meeting was attended by representative business men, and all seemed to agree that the plan wag feasable and Warren Robinson, who was there, said be would give an option on his 75 acres adjoining the corporation east of town, at $l5O an acre, and all seemed to agree that this was a bargain, and plans were at once taken to incorporate the Commercial Club, and Mr. Deam Is to be here again Monday night, Nov. 16th, and a public meeting will be held at the assessor’s office in the court house and a contract will probably be entered into with the com-

pany which Mr. Deam represents. If the contract is made Mr. Deans will come here with one or two others from his company and take personal charge of the sale of the lots and ha believes that he will have no trouble In selling them. The lots wottld be 50 feet wide by 133 feet in length and there would be five lots to the acre, or a total of 375 lota. The uniform price is to be S2OO, arranged in convenient payments and the sale would be carried through with a great rush and Mr. Deam would maintain an office here, advertise extensively, employ a band for one or two days and create an enthusiasm that he says is certain to result in the sale of every lot offered. Six months after the sale the lots will be given to the purchasers by a drawing similar, to the government land drawings. The commercial club should realize from $25,000 to $50,000 in this way ~ and the money would be used to subsidize factories. All persons interested in a greater Rensselaer should attend the meeetlng , Monday night