y 2x4 apology can be a ;An croaker but it shows the stuff of a man to buck obstacles with a cheerful face

The Booster .illalways fight for the thing* The Booster which make a prosperous town ifc an Independent newspaper de- THE BOOSTER voted to the interests of Marble Five Cents a Copy. MARBLE, GUNNISON COUNTY, , SATURDAY, FEBRUARY 15, 1913. VOL. 2. NO. 49

The issuance of these bonds will i onst rated positively the superior qual- there is always room for a difference leave free for use in our commercial ity of our marble, and there is little of opinion as to what is wise to do in operations Facts Concerning Present the quick assets above re- < question but we can, within a few every case, and no human being, or ferred to. amounting to $700,000.00, months, market at fair prices, all the aggregation of human beings, could which with over $200,000 cash to accrue marble we can quarry up to at least conduct an enterprise of such magni- to the company from the sale of the 1500 per are tude, over a seven years, Condition the - cubic feet day. There two period of of Colorado bonds, will provide the company with contracts which will probably be let without making some mistakes. The a working capital of $900,000. within the next two or three weeks, death of Colonel Meek was a severe We can see nothing in this plan, or work to secure which has been going blow to the business for the tremen- Yule Marble Company in the condition which made it seem on for some months, and which we dous work he had already accom- advisable to put it into operation, have every reason to believe will come plished, and the results which he had which should greatly perturb any to us, that will require over 300,000 secured, would have been possible to Mortimer Matthews, president of the development and operation of the bus- ¦ stockholder. On the contrary, the suc- cubic feet of marble. In other words, only a very few men, and we are al- Marble company, ar- iness, $4,992,150.26. Colorado-Yule cess of this plan of refinancing will these two contracts alone would take most willing to say that was the There should be this, $560,- I rived in Marble the first of the week added to j | immeasurably add to the stability of our entire present sawing capacity for only onewho could have ione the work 000 of bonds, which were issued in 1 to direct the disbursement of the pay our business, and to thesafety ofevery one year. and achieved the result as quickly and part payment of the original proper- company and after dollar that has been invested in the There are three reasons why the as economically as he did. roll of the to look ty. This makes a total of $5,542,150,- company’s stock. company did not realize a large profit Mortimer Matthews, other business matters which kept him 26, which our business lias cost us in j Heretofore, our financing has been on its business for 1912. First: Be- H. P. Bope, until the end of the week. Mr. cash, or its equivalent. Bruce Griffing, here | done in a hand-to-mouth manner, be-j cause, in the desire to have examples N. Matthews expressed himself to a re- The $550,000 of bonds be: Henry J. Utz, should j cause itcould nqt be definitely shown : | of our marble in important buildings C. F. Brackett, porter for this paper as being confi- counted as an the expenditure, for ¦ just how much pioney would be re- in different cities, the prices that were Wm. J. Chandler, that the refinancing plan is cer- reason that, | ded embraced in our present : quired to bring our property and bus- quoted were lower than they will ever J. E. Haskell, tain of success. Subscriptions are be- indebtedness are $555,000 of at Charles Austin Bates, bonds iness to its present state of develop- have to be again. Second: The snow ing received every day for the mort- outstanding. If we item Directors. count this on ment. slide and other misfortunes of the gage and it is quite apparent one York, 25, 1913. bonds side of the balance sheet, we must When the company was first organ- winter of 1911-12 interfered with our New Jan. within the next few weeks a suffi- take credit for on We, the undersigned members of that it the other. ized, Col. Meek was told by exper- production, threw us behind on our amount will have been subscrib- Of the stockholders’ advisory committee, cient this total expenditure of $5,542,- ienced marble men that $100,000 in contracts, and during the summer and to company upon a . to our fellow ed place the sound 150.26 the company owes, according cash would be all that was necessary fall, in order to avoid being penalized j commend the above financial basis, assuring ample time to the balance 1, stockholders. sheet of November to open a quarry and put our marble for slow delivery, everything was sac- to place the balance of the bonds. 1912, $2,486,968.50. As this, Norton M. Little, against profitably on the market. These men rificed to speed, and many expenses Upon the day Mr. Matthews arrived there shows on the same i Herbert C. Keith. balance sheet based their estimates on their exper- incurred which will be avoided in fu- here, stockholders of the company had accounts receivable $408,445.28, (al- ience in opening quarries in Vermont, ture. Third: Until the middle of April Upon his return from Salt Lake taken $326,000 worth of the first mort- lowing for losses in adjustments of under conditions entirely different we did not have a sustained quarry City the first of the week, Superintend- gage bonds and $750,000 of the second various accounts this may not net us from those in the mountains of Colo- production. We could not, therefore, ent Stanley gave out the information mortgage bonds. To positively in- more than $350,000). of Inventory rado, and it soon lecame evident that attain the monthly volume of business that the Colorado-Yule company un- sure the success of the plan, Mr. marble and supplies on hand at the they were greatly in error. necessary to reduce to a minimum our doubtedly will get the contract for sup- Matthews stated that $175,000 worth of mill and marble in blocks at the quar- The original intention was to do overhead charges, and moreover, with plying the interior marble for the new first to be ry, the bonds would still have will amount to approximately nothing but quarry and ship rough the irregularity of production and the Utah statehouse. subscribed for and he gave as his firm $350,000. These two items total $700, blocks of marble, and it was very soon rush of the summer, it was impossible It willbe some time yet before the that amount would be in 000 of reasonably quick assets. belief this found that this was then impossible to watch closely all cost items enter- contract will be signed and closed but a of hand before the first of March. To mske fair statement actual and that we must build a finishing ing into the manufacture of the mar- the building commissioners have as- Stockholders of the company have conditions, quick as- this amount of plant and first demonstrate the quality ble. sured Mr. Stanley that the Colorado- plain concerning the sets offset baJ the facts should be considered an of the marble and our ability to pro- With our reputation established, we Yule company will get the work. company’s condition and its needs against the indebtedness, which would duce it. It was then found that, con- will now have no difficulty in estab- Mr. Stanley estimates the value of placed them in a printed circu- our in excess of before leave net liabilities trary to our expectations, the lishing a higher selling price. this job at about $175,000. The State- lar, signed by the board of directors, reasonably quick assets, $1,786,968.50, River Railroad would not build an ex- The quarry production is steady, house will have an exterior of mar- and they are to the support Considering the actual tan- rallying large, tension to our plant, and we had to and will continue so. We have com- ble, also, and the commissioners have of a manner that gible of our bare it- their investments in value property do that ourselves and provide the plete cost records from December, concluded to use marble from a quar- ulti- self and the amount of five and one- shows they have confidence in the money fer it.. 1911, to date and much work has al- ry that will be opened up in Utah. mate success of the Colorado-Yule half millions of dollars which has been It was obvious that with the finish- ready been done in the way of reduc- Cores have been taken from a deposit expended and in in that state and it is believed that the company. Many of the stockholders on the property the enlarged quarry, requir- ing overhead charges and in reducing ing plant and deposit ample enough and of a have visited the mill and quarries hero establishment of the business, this ex- costs the various is ing a great deal of power, it would be of operations in the that be for the they what are cess over is quality will suitable and know they backing. of liabilities quick assets to operate entirely with steam mills and shoos. In all estimates that Should there be any fail- would foolish statehouse. In the statement of the board of di- not so great as otherwise it seem. when we owned a magnificent undevel- we are making at the present time we ure of the contractors to get the mar- rectors, sent out to the stockholders, The difficulty which confronts us, a ab- ble out of this deposit, itis quite cer- oped water power. Therefore our hy- are figuring to make minimum, compauy there much information con- and the only one, is that a part of our tain that the Colorado-Yule appears dro-electric plant was put in, and had solutely net, profit of more than $1.00 be upon to up the ex- cerning company great pressing for immedi- will called take the which is of indebtedness is to be paid for, but has saved its cost per cubic foot on every job, and in terior contract, as well as the interior. interest to readers of this paper. A ate payment and we cannot turn our several times since its installation. some cases the figure will run to $1.50 It will be probably six months be- on fore started on this job. part of the statement is here repro- accounts receivable, and marble With an increased production of net and more. work will be duced: hand, into cash quickly enough to marble, that we not profit it was plain could We are sure that this net can oress other Dre- meet A of matters have it. afford to depend on wagons to trans- and will be increased, first by making vented Mortimer Matthews, president TO THE STOCKHOLDERS OF THE Mr. statement De- In Matthews’ of port it from the quarry to the mill, a further advance in our prices, and of the Colorado-Yule company, from COLORADO-YULE MARBLECO. 14th, you were of securing cember 1912, told that and the electric trolley road was built. second by increasing the efficiency of attending to the business $700,000 manager for the company The Board o Directors of your the company has about of As of our marble was forces, so reducing a general the quality our working and here. Austin Bates resigned Company to announce to that pressing indebtedness. In otherwords, Charles beg you more and more demonstrated, we had the cost of operation. that at the directors’ meeting in just post at the special stockholders’ meeting this pressing indebtedness about offered to us the largest contracts for We believe that before this present New York on January 25. Mr. Mat- the what or- here this that ap- on January 20th, 1913, at Marble, your equals amount of under white marble that have been let in this year of 1913 is ended, we can safely thews said week the be will be made very shortly. proxies were voted upon the resolu- dinary conditions would consid- country since our company was or- figure on an absolute net profit of at pointment that our commercial assets. tions submitted to you; and the ered quick ganized, and the acceptance of these least $1.50 for every foot of marble Fines for Stealing. latter were more a But even if these quick assets could adopted by than contracts made necessary further en- we ship, and we are confident we can Pare and Mike Gerardi, Ital- immediately, Frank three-fourths vote of all outstanding be realized upon and the largement of our plant. produce and sell for the year begin- ians, were caught stealing at the mill were money payment of the the upon com- shares of stock; and that n i votes applied to the Thus, you see, from time to time, it ning January 1, 1914, 400,000 the first of week and cubic foremen were ar- cast against their adoption. pressing debt, the company would be necessary to our plaint of one of the has been increase feet. arraigned Ben Jor- liquid capital with which to rested and before The board also announces that at without capitalization, and to issue securities So far as we can see, there is there- genson, justice of the peace. Armed it carry on its meeting. January 26th, 1913, has its business. as the money was required in the sane fore no reason why we should not earn with a search warrant Marshal Ma- pressing tools, carried the instructions contained in Further, in addition to the logical development of our busi- $600,000 net profit from Jan. 1, 1914, to honey discovered a lot of stolen and clothes, etc., quarters of the the stockholders’ resolutions into eff- indebtedness, is, as you have ness. were continually to 1, 1915, tnere also no in the We forced Jan. and is men. He also found alot of pocket ect, by selecting trustees and pas- been shown, approximately $1,800,000. two th& buy new and larger clothing for a reason why the next and ensuing years knives which had been stolen from sing upon the terms of the mortgages of other indebtedness, a very consid- very rapidly growing infant. should not see a continuous and a Henry Mertens. Justice Jorgenson im- portion due and the costs on and authorizing their execution. The erable of which will be It is easy enough to look back now large increase in both the volume of posed a tine of $25 of the men. They pleaded guilty trustee under the $1,300,000 or cash and payable within the next two and say it have the percentage of profit. each and that would been wiser business and to the charges. mortgage will The Equitable Trust three years, this being represented be to develop more slowly, but it did not There is no question in the mind of trustee largely by outstanding bonds and the Company of New York. The seem so at the time, and, as a matter any man familiar with the facts that Thawing the Pipe Line. the subsequent or Refunding Notes which were sold last near McManus and under $1,200,000 of fact, it still remains for the our property intrinsically a “Bill” his electrical is worth been thawing the mortgage will be the Hudson Trust year. to or not this than our gang has out Main future decide whether good deal more the total of this a big Company of New York. Even under the most favorable con- was very street pipe line week with rapid development the best outstanding stock and the proposed fearsome-looking machine, which ditions, it is not possible the and The Board of Directors considered that thing that could have been done. bond issues. There is no question has the appearance of being a cross at its meeting the situation of the com- company’s earnings within the next press a calliope. We have a well developed quarry, about that at ail. between a cider and or three can enough name the thing is it pany and its prospects, and takes this two years be large from which, since the middle of April and a half of Whatever the of When five millions does the work, but it is doubtful if opportunity to place them before you. to provide for the payment of these been to depend up- 1912, we have able dollars have been expended in the de- “Bill”could get the results he does if By correspondence maturing obligations. * and conversa- on absolutely, for an average of over velopment of the business to its pres- itwere not for the expert help he gets tion a stock holders, It was therefore determined by the per with number of 1000 cubic feet of sound marble ent point, it would be utterly ridicu- from the town loafers. directors, (and since by the we are convinced that there are many board of day. owners of that business to lous for the St. Paul's Church. who do not understand the present vote of over three-quarters of all out- the quarry has now been devel- difficulties As allow it to get into serious Sunday, the second Sunday in Lent. company, there- standing stock) that the only wise and depend upon condition of the and oped, we can definitely for want of the comparatively CommumoD, a. m. thing to do was to com- the Holy 10:45 fore take a much more gloomy view conservative at least 1300 cubic feet per day, and small additional amount which is Sunday school, 9:30 a. m. pletely refinance all of the company’s setting Morning sermon, 10:45. than the situation justifies. our work of finishing and the necessary to put in at once and for all prayer and even one indebtedness, pressing we Evening prayer p. ro. It is difficult for trained both and other- number of large, conspicuous jobs on a permanentry sound, profit- 7:45 an- wise, place date of maturity time j I The Rt. Rev. Benjamin B. Brewster and experienced in such matters to and the bay# completed has established a at the money able basis. willbe present and preach both alyze a balance sheet and. from it far enough ahead so that the continuous demand for I At morning services strong and It is no good now to complain of above services. alone, facts of necessary to meet the obligations can more daily production. Bishop the rite of deduce the the actual than this what is past, or to con- the will administer be net earnings such criticise the condition of a business. taken from the in have a completely equipped who confirmation. be pro- We duct, or the judgment, of those Evening prayer every Wednesday We have not been able to under- annual amounts as can easily plant for quarrying marble, and for have been responsible for themanage- evening with choir rehearsal immed- present of the vided, without retarding the progress finishing into any the iately stand why the. situation it form which | ment the We afterward. finishing • of business heretofore. j Auxiliary meets every Marble company, disagreeable as it of the business. trade may demand. The this, I Woman’s in 1 : maintain that this conduct and ! Thursday at 2:30. is, should considered cause for a With all of our obligations the we may use to the extent that we afternoon be plant 'management have been good, and: The new pews are being Installed In courage, by form of the proposed twenty-year bonds, product of the j loss of confidence, or the do not sell the entire there can be no serious question in ‘ the church and will be in use Sunday. for the interest 1 stockholders. the amount necessary quarry in blocks and sawed slabs. They are free. Certain families and re- i | anybody’s mind about the entire sin- j pay In with the statement of and for a sinking fund sufficient to The contracts we have executed in individuals have volunteered to accordance cerity and good faith of those con- j pews un- all of the bonds at or before ma- buildings St. Louis, Denver, Lin- for a pew. There are still Sparrow, Harvey & Co., under date tire in in it. In the carrying out of a glad- average-of not over Omaha, Chicago, , I cerned paid for. Subscriptions will be of November 1st, 1912, there has been turity, will be an coln, been, for same. New York, and other cities, have bigj operation suph as this has I ly received the expended on our property and in the $240,000 per year. detn-1