A Suggestive History

Aun Arbor people have bcen very unfortimate u many OÍ tlieir ventures in llie line of stock comíanles. Her businesss men have Been tlieir hard eiirned dollars melt away lke ice in tliesiiniiner's sim, ín enterprise after enterprise, untll it seems as though uothing if the kind could evcr be successful liere. The hordes of money tliat went into a watcli company tliat was to revolutionlze tlie watcll trade of the world never carne out again. The Lnmb Lock Co. sunk thousands of dollars by its impractical management. A great eandy factory swcetened the stoekhoklers to a satisfactory degree, and the list is yet incomplete. Some years ago a printing establishment ivas starled here by two very shrewd and successful gentlemen. It was not run at a profit, and after considerable linancial loss it was unloaded upon a stock company. One aíter another of the stockholders though composed of our best business men, tiied tluir hanís at running the concern, and one after anothcr had the coneeit thoroughly taken out of. theni in respect to tlieir ability to run a newspaper and its accompanying printing outfit. Then these stockholders, each with thinner pocketbooksthan attlie start unloaded upon a worthy and nble gentleman, who had been proven a good financier. He fouml tbat running a newspaper was a diílicult job, although havlng at bis back the prestige of the University of Michigan. Every day found liiin a pojrer inau at night tban lie was in the morning. After a time he too found a place to dump bis load, tucmgh a suit over it pendid i;i the eoi:rts for years. And thus changos have been going on constantly in the unfortunate enterprise. The list of tbc difterent editors and locals would almost fill a directory, whlle the variety of principies which have found favor in its columns would make a coat rivaling the famons one once worn by José ph. And now it is underftood that Mie pioprietors Hre trylog to dispose of it in the form of a stock compnny. It' tlie future is to be judged by the past they will have some experiencp, siiice we uiidcrstand spveral thousand dollars Uave litrn lost in the institiitioii. One peculiar fact can be nottd: na farmer utockholder or owner stands ren y to luke any stoel; in tlu last -propoted unloading. And business men, with perlmps au exception, tight very shy of invitntiong to feed the whale. Uut by the shift anotlier jeai's lease of üfe is insurtd. Sucli unfortunatB Investments lend 10 injiire onr city by diverting oapitnl from home. Many oi our cltizens would jiliid v invest money in home indu-tiies and enterprises hut are af raid to do f o bf canse of the terrible failures that have been and are beiiig made by investors.