Show Corp To Start Member Drive Officers ers of ot the Uintah County Progress Development Corporation are making makin final plans to start a II membership drive to sell stock in the corporation corporation cor cor- and make mIke possible a amore amore amore more favorable employment attraction In the area Ken Is president of the Corporation with Glenn II Cooper vice vlee president Harold R. R Sargent treasurer John Beaslin secretary and Larson tarson Lar tar son Caldwell Grant Southam and Roger Hacking blacking as tors IN A LETTER to citizens of the Uintah County President explained the function function tion of the new corporation as follows Uintah County people have long felt a need for a larger payroll In this area one which could help the economy over our long winters The Uintah County Progress Development Corporation is Incorporated for this purpose That Is to say the corporation was was formed to aid companies Interested In locating In our our area or th the expansion of a local industry that would employ employ em em- ploy more people The concept of this corporation corporation corpor corpor- atlon is a profit making corporation corporation cor cor- with the Intent of supplying supplying sup sup- plying repayable financial aid aidor aidor aidor or assistance to encourage new businesses The corporation may may also assist local industries industries ries rles wishing to expand if the expansion will require the hiring hir hir- ing log of additional people THIS CORPORATION Is Isable Isable isable able to take advantage of the Small Business Administration loans which would Increase the money on a anine anine anine nine to one ratio That is If you purchased two shares of stock for 25 each or 50 the corporation could borrow from making a total of usable to promote promote pro pro- promote pro pro- mote Industry Stock can be purchased from the corporation by paying 10 per cent down with the balance balance bal bal- ance anee on call when there is an actual need for It It THE PRESENT money already already al al- ready In the treasury will pay the cost of preparing the school chool building for the Vernal Sports Sports- 1 wear wear Company which will employ Initially 20 or 25 lad lad- les ies This assistance will be paid back with Interest over overa a 30 30 month period If it it finds a second Industry the corporation corporation corpor corpor- might call for 10 30 per cent to 20 per cent or more from the outstanding pledges to finance this assistance The stock can be sold at any anytime anytime anytime time but must be offered to the corporation first and no noone noone noone one Is allowed to own over 40 per cent of the stock |