The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1878-11-02
THE TAYLOR MANUFACTURING CON-
PANY.
It's Failure Heavy Loss 20 the Business
interests OF Westminster.

The failure Of the Taylor Manufacturing Com
pany Of Westminster, Carroll county, was briefly
anauaneed In these columns last week. The West
minister Advocate Of last week, after alluding to
the suspension. says:
"Ail the operatives. about one hundred and
thirty In number. the force having been reduced
the past month. were promptly at the shops Thurs-
day morning. and ending the doors closed, won
dcrcd at the cause. james y. Taylor, Esq. Pres
idcnt of the Company. and GENERAL Supcfintcn-
dent Beck were there, aud the employees being
called up Mr. Taylor made n statement To them of
tho affairs Of his Company. lie stated that he re-.
GREETED very much that the Taylor Manufacturing
Company had failed, and tina, Il was the saddcs;
duty he was ever called upon 20 perform. 10 tell
them that they could no longer employ them
The failure the result of not being able 10 get
paper discounted aud the inctfcicncy of capital.
lie spoke of Mcssr-. Chas. n. Roberts, u. W. Hen
nett aud Thos. y. Shepherd. ~ the firm aud
stannch friends of the Company, who had lent Il
material aid without stint. and 20 whom all con-
nccted with the establishment owed q debt q
thanks. The citizens, however. with few excep.
tions. had never given the enterprise the rncouF-
agcment Il deserved, and were not fully alive 10
its Importance and capacity. On Friday last,
amer all efforts 20 increase the stock. con
templatcd. had proven fruitirss, he had given M
all hope of continuing operations. and ruesday
q tuecttuk ut tue ltfertofn uclts uetnfc Mhttu
. full aud frank statement of affairs was made,
aud q suspension of work was decided upon. This
Company had made an Assignment 90 Charles u.
Roberts aud John 4. smith. he Informed them.
aud that the employees of the establishment we're
made preferred creditors. lie assurci them tina,
they would all be paid in full.
The sadness on account % the closing IN oi
the shops vas mutual. and more than 'ans EN-.
ploycc shed tears. whilst all exhibited signs q
greet aud disappointment. When the President
concluded. however the satisfaction AZ the full and
FRYE statement made BY him. who had not only IN.
vested his means. bu, had laborcd hard LAY and
night for the success of the establishment. found
vent in cheers BY the employees VII" had implicit
confidence that the President, and Directors of Oh,
| Company had done all in their power to save th,
works from bankruptcy. and hal largely invested
their means to keep them going.
Much sympathy for the Company and em.
ployees was felt and expressed By this entire com
muni,y. The failure. though no, uncxpcctol by
some, vas We, sudden and startling. AMI the In.
tcrest felt in the matter intense the opera
ti,cs were seen standing idle upon our streets.
"A; the time Of the failure iherc we're about
/ tuenty -dve orders on Gle 10 be- hci for engine,
ani hoilcrs. and in two hours 80 the collap..
WRs announced an order from Atlanta. ia, fci
\ ssU.e0o worth of work. was resolved.
Lack of capital. and not lack Il work. was th'
cause Of the failure. The Company. after year. o
toll. bad iu,t gained . reputation sni Prominence
and werr beginning o. realize the fruits II thcii
/ lsbors. Their engines have taken premiums Al
the Paris Exposition and a; Variuu. fair. IN thii
country. over all competitors, ani trade Wa nj
I onY improving but every day approaching nearc
I a cash system.
The President of the Company inf.smei II,
\ that the failure Wa on sccount VI insuthceucy 81
capital II was their desire 60 increase the CAPT
/ tai stock from go. o0o o. sisu Ouo but after IN
/ tring efforts il couli oniy BE run w e. 80. 600
/ nnl the presi lent and pre'.turs becoming hope
/ les decided ;hs; winding up oi the establish
meat vas inevitable and On Thar.lay m"fuin.
I cose,i loors.
/ Had our basines. men. and men 90; mean. gen
| erally W thi. community. given the Company IN
! c0gragetnsnt and invested in share or ,So o
stuck. the requisite amount u capital us ~ have
I heeu made M AMI are ss.ufri that " th'
sts-sk could have BEEN increased g. size HU0 th'
/ COMPANY eoali not only have hquidatei al ihei
/ .adebtc,ine... hu; done such prosperous hu.ine-
! tina; the next year ,hry could have declared
I lis iisni q siN PEI cent I, "a. the leading In
ds.try q IL kind IN THIS country. Il. property
hal iust begun. and Il. recent success. the ign
1 q increased trade would Indicate. sss only fore
/ ,aado~ 4 u. future greatness. IT. collapse ha
( heen n seriou. blow 60 the basihes. interest. %
! wc-tmin-ter. The withdrawal Of several han,iTs.
q IL population. sni the lo.- II thirty tort,
I ihad-anl. q dollar. sheh thev annually .Ient u
oar midst. ~ill be materially felt. The butcher.
! the bakers. the produce Ieaie-s the grocers, th
ity go,l. merchants. the iailor.. the shoctna ker.
the huiel.. the boarding houses. and every one en-
sAs-i 10 ha.inc.s will feel the isss e mi. indus
try. shilst The decline IN the demand Tor csantr,
produce sill alevt the markc, ., the detrimeht q
the farmers and hueks;er. & the surrounding
\ country"