Clipping:St. Louis League Club finances
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|Date||Wednesday, February 2, 1887|
The present stockholders of the Maroons have put up in good hard cash the sum of $20,000 or more, and this amount has been used to pay off nearly all of the old debts, purchase the franchise, players, improvements on the grounds, etc. Eight thousand dollars’ worth of the stock is still unsold, and it is not being offered on the market at all, for the simple reason that buyers could not be found, the many rumors that have been current putting a damper on the Maroon stock that would be impossible to overcome. A great many of the small stockholders have been frightened into selling their stock for about half the original cost, and this also has depressed the market, and the balance of the stock now held by the corporation would not sell for half its face value, or probably a quarter thereof, if thrown on the market. About all the money that has been taken in has been paid out, and with a round lot of the stock unsold and no money in the treasury, what is the Association to do? They will either have to do down into their own pockets and raise a stake or they will be obliged to sell two or three of their most valuable players in order to get enough money to start the machinery moving in the spring.
|Submitted by||Richard Hershberger|
|Origin||Initial Hershberger Clippings|