Clipping:Finances between Players League clubs
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| Date | Wednesday, November 13, 1889 |
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| Text | [reporting the Players League meeting 11/6/1889] Some modifications were also made in the agreement, and the new documents is in most respects essentially different from the original agreement which contained Mr. Ward's plan of campaign. The $25,000 stock clause was stricken out, and the various clubs can issue stock to any amount they see fit. Each club is to be on its own basis so far as the stockholders are concerned. That is to say, under the original scheme the clubs were to be co-operative; all profits and losses were to be pooled, and the stronger clubs were thus to indirectly contribute to the support of the weaker clubs. This is now changed. The pooling is done on a basis by which a club that is making money is sure of a fair interest on its investment before any other club shall share in its profits. Each club stands on its own basis. After all expenses and a contribution of $2500 has been made to the prize fund, the first $10,000 of profit goes to the stockholders. The next $10,000 or any part thereof is to be put into a pool to be divided pro rata among the players of the League at the end of the season. A second pool will be made of all profits or any portion thereof exceeding $20,000. This second pool will be divided—half to the eight clubs and half to the players. It will thus be seen that no club will contribute to the support of another club, unless its profits exceed the sum of $20,000. |
| Source | Sporting Life |
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| Submitted by | Richard Hershberger |
| Origin | Initial Hershberger Clippings |
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