| Show PROPOSITION TO OPEN PROVO WOOLEN MILLS of American Farmers Union for l ur of F Factory Special Correspondence PROVO Feb question ot of opening the tho Provo woolen mills was brought before the Provo CommercIal club Saturday evening b by Mr J II Bearrup ot of Albuquerque Now New Mexico who represents the tho Farmers Educational Educational and Cooperative Union ot of North Amerl America a His association proposes propose to start Mart and a chain or of woolen mills plants In the tho west for the pur purpose purpose pose of saving savInI freight In wool to man manufacturing centers and the freight on tho manufactured articles clothIng etc back to the consumers In the th west The Tiro Provo mIlls being already was WIlS considered d a rood plant for the Initial movement and this brought Mr Bearrup to Utah Ho He has hus secured an option to but the plant for now ho proposes to n a company compan to buY and operate the mills milia with a capital stock ot of This stock will be sold at SO 50 per cent ot of Its par value and Mr Bearrup guarantees Interest at 6 per I r rent on the tho par value which would bo be 12 per percent percent cent on the Investment HI proposition Is for to be her ot of this will pay the Initial In installment on the tho prIce of the mills and wIth the tho and other subscrIptions which he proposes to se euro curo from wool growers and members of oC his association he proposes to start the mIll In connection he proposes to start a clothing manufacturing con concern concern cern be beginning wIth pith a trouser factory and sell the products product to the members of the Farmers union of which there thero are aro already eIght million or moro more with stores In a a number of the western states where tho goods will be S sold as well as to members direct and to others who desire to become purchasers ers Ho expects to have hae no by reason of the tho large membership of his association to start and keep the mills running The plan Is a co cooperative cooperative operative one Intended to Include the tho producer tine the manufacturer and the thc consumer It If the tho mills are aro sold for the It will leave after the ate are paid about to bo be among the stockholders ot of the tho present com compan company pan pany which Is capitalized for or 1623 3 per cent ot of their Investment The Tho matter matte wI will bo be considered by the clubs committee on manufacture |
