The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1870-03-12
The Proposed Cotton Factory.

Pursuant to adjournment on Monday
night, February %, the mass meeting Of
citizens renssembled in the Court House,
with a largely increased attendance
D l. Wells in the chair; a T. McNeaI,
secretary.
The minutes of the previous meeting were
read, and reports read and received from the
committees appointed at said meeting.
The report Of the Committee on Resolu
tons was read as follows
The Committee on Resolutions appointed
by the Chairman of the Preliminary Meet
ing held in this room, on last Monday night,
beg leave to report as follows:
WHEREAS, The proposition to organize
joint stock company In this county for the
purpose of erecting at or near Bolivar,
factory adapted to the manufacture of cotton
and wooden goods, having met with evidence
Of great encouragement and believing that
such an enterprise would rebound to the
welfare Of our people, assist in developing
the resources of the county enhance the
value Of property stimulate trade, Increase
population, and be of itself paying husi
ness; therefore,
lst BE it resolved, That we can and will
procure grounds, erect buildings, procure
machinery, and join the army of producers
and manufacturers that has ever been
crowned with success wherever advancing,
and thus assist materially in opening up to
the channels Of trade and commerce the
many natural resources with which we are
surrounded
ID Resolved, That this meeting elect
Provisional Board of -- Directors -
of whom shall! reside in the vicinity Of Boil
var, who shall i'm mediately elect one of their
number President. They shall also appoint
a clerk and an agent, or agents.
Sd. Resolved, That said Board shall open
books for the subscription of stock, 500 Of
which shall constitute share.
4th Resolved, That no one person shall
take more than shares of stock in
this company, until after four months FROM
this date
9th. Resolved, That when the sum Of
-- dollars of stock shall have been sub
scribed, the Provisional Board shall call
meeting of Stockholders, who shall proceed
to elect a permanent Board of Directors,
which shall be constituted as such stock
holders may direct
9th. Resolved, That each stockholder
shall be permitted to purchase, annually,
worth Of fabrics made at the factory
ut prime cost Of material and manufacturing
I'LL INESOiNGuy lint y Z hereby invest the
Provisional p lard with all other powers for
conducting this enterprise, not inconsistent
with the spirit and tenor Of the foregoing
resolutions
9Th Resolved, That all persons disposed
to encourage home enterprise and local ad-
vancement, be requested to come forward
and assist in pushing this good work to final
and complete success.
M r. PARRISH,
). b. SURRATT,
The plan of organization as suggested by
said committee, was adopted and a special
committee of three, consisting of b. p Nc
Neal, j. NJ. Mask and Leon Bills, appointed
to report the names of number of gentle
men To constitute a Provisional Dir .ctory,
and submit their action to the meeting
Said committee reported the following
thirteen names: Paul L. Jones, Pitser Mil
Ter, James Brown, w II Myers, D. l. Wells.
L. b. Adams, j b Harriss, f. Fentress, J.
J. Polk, j. b. Franklin, James TOone, Sr., d.
B. Sain, A d. Nelson.
On motion the name of A. P. MeNeal, J
NJ Mask and Leon Bills, were added 70 said
list, when the report Of the committee
unanimously adopted, and the above sizte>
gentlemen constituted Il Provisional Board
of Directors
Inc maximum NUMBER or shareS 60 De
taken by any one individual within the
time proposed in fourth resolution was Fixed
az FIVE, any one being allow ed. however, to
take five in the name Of each member of
his family.
The amount of stock to be subscribed be-
fore the election of a permanent Board Of
Directors, was fixed at 800, 0O0
On motion the amount OF fabrics allowed
to be purchased by each stnckholder an
nuaIly, at prime cost, was fixed at S25 in
stead Of $50
On motion it was moved that The edi
tor of the Bolivar BULLETIN be requested to
publish the proceeding of the meeting.
On motion the meeting then adjourned
sine die a I. McNEAL, Secretary.