The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1875-08-19

I, CITIZENS MEETING.-On Monday morning
paper numerously signed was circulated on
the streets, calling meeting of the citizens al
the Town Hail. to take some action in regard 70
the destruction Of the foundry OF Eyler, Coop
er & Co., and pursuant thereto, number OF
citizens assembled at o'clock. P. M. Hon. A.
H. Fl. Stuart was called to the chair, and +. b.
Hoge appointed secretary. In opening she
meeting, Capt. Marquis said that it was not
the purpose to indemnify Messrs. Eyler, Coop
er & Co. for the loss sustained. as that would
be impractieable, even if desired, and that, while
the whole city sympathized with the gentle
men, the object of the meeting was to deter
mine upon some course by which the works
should be re-established, and the workmen en-
ployed therein furnished with employment at
once.
Mr.. Eyler being sent for, appeared, and
stated that he was overwhelmed by the kind
demonstrations Of the people as indicated by
the meeting, and that nothing could be more
pleasant and agreeable to him than to remain
in Staunton, if he had assurance OF employ
ment. 1t was known to all that he had lost
every dollar he was worth, by the fire, but he
was prepared to devote his time and skill to
any enterprise in his line that might be estab-
lished. He believed that the site and debris
of the foundry destroyed, could be purchased
for s., 900, and with capital of $4,000 other
works could be put in active operation in less
than three months. He was assured that such
an investment would yield 20 per cent. per an
mum.
Onmotion of Mr.. Wayt, committee OF three,
afterwards increased to seven, at the sugges-
ton of Col. Hartman, was appointed by the
chair, to report to an adjourned meeting to be
held to-day, at o'clock p. NJ. The following
are the committee: J. G. Marquis, N. G..
B. Hoge, J. Fl. Waters and B. 7. Bagby.
On motion of Col. Hartman, the chairman was
added to the committee.
The committee met at the Office of Mr.. Stuart,
on Tuesday, and adopted the following resolu-
tions
Resolved, That a joint stock company under
the name and style of the ssValey Foundry &
Steam Engine Company with minimum
capital of 000,-maximum 500, 0OO-be
organized and books OF subscription opened at
once, and report made to the meeting on
Thursday evening at o'clock, of the amount
subscribed.
Resozued, That Messrs. Eyler and Bagby be
a committee to examine and report to the adj
journed meeting on Thursday evening, at
what cost suitable buildings for the re-estab-
lishment of tine Iron Works can be built, and
also on what terms the present site and the
rubbish thereon can be purchased. Also, an
approximate estimate of the cost OF the ma
chinery necessary to carry on the operations OF
the establishment.
Before the committee adjourned, $4,000 was
subscribed to start the enterprise as follows:
B. Il. Bagby, $500, D. A. Kayser, $500,
DR.. j. N. Wayt, 5000, J. FL. Waters, 500,
Col. NJ. G. Hartman, $500 and A. H. II. Stuart,
$500. Besides this, Mr.. Eyler stated that the
workmen would be willing to take stock, and
pay in labor.
Mr.. Eyler offered to guarantee the site and
rubbish at 81, 900, but the committee were of
the opinion that the amount asked was too
much, and negotiations will be opened with
Mcssrs. Nelson & Brennan, the owners Of the
lot.
Upon the success of this enterprise depends,
in no small degree, the future prosperity Of the
city OF Staunton. 1t is conviction with our
our people that manufactures alone can relieve
ussfrom the embarrassment which it is apparent
we are now laboring under, and which is evil
denced by the numerous signs of s'For Rent
and the like, displayed in the windows of too
many store-rooms and dwellings houses. That
something must be done to bring money and
induce capitalists to invest with us, no one de-
nj o,<1f l,otp oac,
means for the accomplishment of the end, none
will presume to contradict. Here we have a
trade already established; workmen Of known
skill and energy ready to take hold at once; a
superintendent who has demonstrated his abl
ity to manage q large manufacturing concern,
and the almost certain guarantee that the capt.
tai invested will pay handsome per centage.
and the question is simply whether we will
take advantage of these inducements and there
by enrich both town and community, or allow
them to slip from our grasp to our loss and the
gain of other localities.
II the trade which had been established
by the works recently destroyed by fire,
is permitted to seek another channel, it may
be years before it can be again directed
toward Staunton, and in the meantime the city
will be turning $4,000 per annum from its
door. Are we in a condition to throw $4,000
per annum away? is the question which each
capitalist should ask himself in considering ,the+
matter.
But this is not all. One enterprise is the fore
runner of others, and if we fail to make this
success, outside capitalists will shun the To-
cality. They will not be able see how man.
factory can build up a trade and prosper, whilst
the home capitalists do not care to hold the trade
already established In the present instance
it is equal to making the stockholders of the
proposed company a present of reputation
which it has taken years of labor and skill to
acquire.
10 tell the truth, Staunton has few resources
within herself She derives revenue from the
State Institutions, the Female colleges and the
local agricultural trade, and with the exception
of the Staunton Iron Works and several smaller
manufactures, that is all she can boast Of and
when the profits from these sources are dis
tributed among six thousand Inhabitants the
dividends dwindle down to very fine point
Besides this, we are not content that the popu-
lation should remain at its present figure, and
with the elements at hand with which to double
it, it would be a reckless squandering of ma
f,r,vo 9r1 Loo - IL