Rensselaer Semi-Weekly Republican, Volume 41, Number 78, Rensselaer, Jasper County, 18 June 1909 — PROPOSITION RECEIVED FROM THE FACTORY PEOPLE. [ARTICLE]

PROPOSITION RECEIVED FROM THE FACTORY PEOPLE.

Want $15,000 Cash and Seven Acres of Ground—Agree to Employ 200 People. The president of the Commercial Club this Thursday morning received a letter from L. D. Price, of the Chicago Industrial Co. which conducted the sale of lots here, stating on what terms the factory people who were here last week would locate in Rensselaer. The company agrees to employ 200 people within eight months to a year, pay out in wages $500,000 and will erect a three story factory building 80x200 feet of either brick or concrete and ask in return seven acres of ground and $15,000 in cash to be paid in four equal installments as the work on the building progresses. The standing of the company will be thoroughly investigated and if every thing looks favorable a meeting of the lot owners will be called and the matter explained to them in detail, and the lot owners will then be allowed to vote on the proposition whether to accept the contract and locate the factory here. Announcement of the meeting will be made later. This factory looks like a good thing and if everything looks favorable after an investigation their proposition should be accepted. Another factory owner was here Wednesday who wishes to locate and invest here. He is at the hepd of an enterprise of which there can be no question as to the success of. He will not ask much bonus if he decides to locate here, but we are not yet at liberty to go into details regarding the proposition.