The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-01-21
ErsA IRos An Nan Co.-Agreeabll

ErsA IRoN AND NAIL Co.-AgreeablI
10 announcement & very full annual
meeting Of the stockholders of the ftnl
Iron and Nail Company WA held in The
Office OF The company, on Saturday last,
At 9 T. n, and wa organized by electing
VIM. Alexander, Chairman, and Wilbur
Tailman, Secretary.
Mr.. Tallman, as Secretary Of the COM
pany, made an elaborate and highly salts.
factory report Of the operations Of the
Mill for the past year, which, on motion,
was accepted. The following synopsis Of
the report shows how, in the midst Of the
depressed surroundings, the mill has, IN.
der superior management, maintained a
profitable existence; and we were glad to
see In the approving faces OF the stock.
holders evidences Of we'll done and q
hope for still more prosperity in the ID
ture.
The annual report shows the company
to be in . healthy condition, and that Its
business has been prosecuted with energy
throughout the year, the net profits
amounting 10 nearly. $4,000. This with
the previously accumulated profits Of
1876, makes a surplus Of nearly $4,000.
Notwithstanding a considerable outlay
in the way OF improvements, and the lar.
ger amount Of means required to carry
on a very greatly increased business, dur.
ing the year 4 fair reduction was made in
the company's debt.
The following figures show the measure
Of business as compared with the pre-
yious year:
Iron made in 1876 $40
Iron made In bI1....."..t... ..'....-b .o!S
Iron told In ls76- 4,oIS
Iron sold In SII.............- ..'..... ..............-'Is
This proftfor the year appears in spite
Of the fact that the stock Of finished iron
on hand was inyoiced this year at . price
equal to 81 go per ton less than the in
voiced price OF last year.
These facts are interesting to the pub
lie in showing that an iron company,
though organized and It's works built
during 1873, the time Of great inaa-
ton, and having all the unfavorable
circumstances Of the last four years 10
contend against, has been able TO stand
firm and not only ito hold its own" but to
add something thereto; and they give
emphasis, moreover, to the claim that our
section Is not excelled in its facilities for
the economical production and market
ing Of iron by any other section Of the
country.
While many an old iron mill, with Its
accumulation OF experience and aggre-
cation OF means through times Of pros.
perity, has had 10 succumb to the press
ure Of "hard tines" 1t ia a significant
circumstance that even a new one here is
proving so great a success as Is the Etna.
Just here let US call attention TO the unsur-
passed mannfacturing facilities lying ada.
cent to the Etna. Nowhere, we venture,do
more favorable influences conspire 10 In
vite the capitalist or manufacturer than
those presented In this locality. Coal Q.
frstrate quality and ~inexhaustible in
quantity, ample elbow room for building
purposes, an excellent building suitable
for manufacturing purposes OF any kind,
with engine and suitable steam advant.
ages-a fine river front to all Of II, afford.
ing 10 all back OF it an ample water out
let In addition to the advantages Of the
C.&P P. r. R., which travetses the whole
tract We repeat, no better opportunities
for coal men, or men OF moderate means
to engage in any manufacturing enter.
prise are anywhere offered on such liber-
al terms as those now presenting them.
selves here.
The election of directors for the ensu-
ing year resulted in the choice Of W. w.
Holloway, Lewis Jones, VIM. B. Simpson,
T. R. Moffett, L. Spence, Aug. Pollack,
A. J. Bsggs.
These are the old board except Mr..
Pollock, who takes the place Of A. G.
Robinson, Esq. The new directors will
meet for further organization on Tues:
day 10, morrow at p. NJ, at the mill
office.
The mill will probably start up to.
morrow morning. During the past year
the company employed an averaged OF $50
hands.