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Show Homemade, Money Builds Factory Town in Kentucky Secures an Important Industry. Paducah. Ky. Construction of a factory fac-tory to employ 3.0 O to 1,5X persons Is being financed here with home-made money. Recently a large firm handling shirts previously made In the state penitentiary, peniten-tiary, announced its products would be made outside the prison and that It was seeking location for a factory. I raducah business men got busy. I They found the factory could be brought here If they financed a building build-ing costing JtVi.OOO. They gave cash and signed notes aggregating that amount. Leading business men met with the mayor and decided to raise the funds through issuance of scrip. Printers were set to work running off ?25,K10 in "Certificates of Paducah Industries Committee." The plan Is simple. The certificates are printed by the Paducah Industries, a body organized to supervise operation opera-tion of the plan. They are distributed through a fiscal agent of the committee. com-mittee. An employer signing a contract to co-operate in the plan purchases a certain number of the certificates each week, paying $1 each for them. He then pays his employee half in scrip and half In legal tender. Here enter the stickers. Before an employee can "spend" his certificates he must place a one cent sticker on each certificate. The stickers are printed and sold hy the Paducah Industries. In-dustries. The second person who receives the certificates uses a two cent sticker. The third person handling affixes another an-other one cent sticker. When these stickers total four cents the certificates may be "cashed" for $1 at a bank. |