The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1878-10-26
LOCAL AFFAIRS.


Failure Of the Taylor Manufacturing Company
Manchester, HoucksvilIe watezyisle and fancy
town Items-Before Justice cmpster-Real Estate
sales-orphans' Court Local Brevities-Found
Dead-Medals Awarded. ess. etc
FAILURE or THE TAYLOR MANUFACTURING
CoNRANY-LARGE NUMBxg or OPERATIVES
THRowx Der or ENPLoYMEET, &c, &c
This city was thrown into state of excite
Inent on Thursday morning by the announce
ment of the failure Of the Taylor Manufactur-
ing Company. The. familiar whistle of the
engine, which was the signal for the operatives
70 resume their labors, was not heard, and
many mechanics and others, who had been
accustomed to be guided by il in their occu-
paiions, listened for it for some time past
seven o'clock in vain. Nothing Of serious
nature was suspected, however, for the day
previous some delay was caused by the leak
ing Of tbs shops during the driving rain of the
preceding night About eight o'clock the
operatives left the shops, and being interro-
gated as to the cause Of their not being at
work, announced the failure of the Company,
aud the news spread rapidly 10 all parts Of
the city. The collapse was the absorbing
topic OF conversation everywhere, and specu-
laiions we're various as to the cause, and to
the past, present and future of the Works.
All the operatives, about one hundred aud
thirty in number, the force having been re-
duced the past month, were promptly at the
Shops Thursday morning, and finding the
doors closed, wondered at the cause. James
+. Taylor, Esq, President of the Company,
and General Superintendent Beck were there,
and the employees being called up Mr.. Taylor
made statement TO them Of the affairs of his
Company. He stated that he regretted very
much that he was compelled to announce TO
them that the Taylor Manufacturing Company
had failed, and that i was the saddest duty
he was ever called upon to perform, to tell
them that they could no longer employ them.
The employees, he said, were the best set Of
workmen he ever knew, and that each and all
bad done their duty; the failure was the re-
suit of not being able to get paper discounted
and the insulfciency of capital. He spoke of
Messrs. Chas. b. Roberts, B. w. Bennett and
Thos F. Shepherd, as the firm and staunch
friends Of the Company, who had lent il ma
terial aid without stint, and TO whom all con
nected with the establishment owed debt of
thanks. The citizens, however, with few ex-
ceptions, had never given the enterprise the
encouragement 1t deserved, and were not fully
alive to its importance and capacity. On
Friday last, after all efforts to increase the
stock, as was contemplated, had proven fruit
t~1Hf A~ D44 gwen AOHG III AOuAAuuAuE
operations, and on Tuesday a meeting of the
directors was held, before which a full and
frank statement of affairs was made, and
suspension ofwork was decided upon. The
Company had made an assignment to Chas.
B. Roberts and John +. Smith, he informed
them, and that the employees of the estab-
lishment were made preferred creditors. He
assured them that they would all be paid in
full, and again expressing his regrets at the
failure. closed his statement
The sadness on account of the closing up
of the shops was mutual, and more than enc
employee shed tears, whilst all exhibited signs
of regret and disappointment. When the
President concluded, however, the satisiac-
ton at the full and free statement made by
him, who had not only invested his means,
but had labored hard day and night for the
success of the establishment, found vent in
cheers by the employees, who had implicit
confidence that the President and Directors
of1he Company had done all in their power
to save the works from bankruptcy, and had
largely invested their means to keep them
going.
Much sympathy for the Company and en-
ployees was felt and expressed by this entire
community. The failure, though not unex-
pected by some, was yet sudden and startling,
and the interest felt in the matter was intense
as the operatives were seen standing idle upon
our streets.
At the time Of the failure there we're about
twenty-five orders on file to be filed for en-
gines and boilers, and in two hours after the
collapse was announced, the following tele
gram was received, ordering forty engines:
ATLANTA. Ca Oct o, 1878.
To Taylor Manufacturing Company. Westminster,
Md.-The Boss Clipper took first premiumat North
Georgia lair over all competition Build up twenty
seven sx-horse nine eight-horSe and four ten-horse
Marx ". JOHNSON & Co.
Lack of capital. and not lack Of work, was
the cause of the failure. The Company, after
years Of toll, had just gained reputation and
prominence, and were beginning to realize
the fruits of their labors. Their engines have
taken premiums at the Paris Exposition and
at various fairs in this country, over all COM
petitors, and trade was not only improving,
but every day approaching nearer a cash sys-
TEN.
The President of the Company informed us
that the failure was on account ofinsuiiicieney
of capital. IL was their desire to increase the
capital stock from S20,0 TO $4,000, but
after untiring efforts it could only be run up
10 $4,000, and the President and Directors
becoming hopeless decided that winding up
of the establishment was inevitable and on
AMAAr1Nf itbcNH
Had our business men, and men of means
generally in this community, given the Com
pany announcement and invested in a share
or two of stock, the requisite amount Of CAPT
tai might have been made up; aud we are
assured that if the stock could have been in
creased to 100000, the Company could not
only have liquidated all their Indebtedness,
but done such prosperous business that the
next year they could have declared dividend
of six per cent. II was the leading industry
OF its kind in this country Its prosperity
had just begun, and its recent success, the
signs Of increased trade would indicate, was
only foreshadow of its future greatness Its
collapse has been a serious blow to the bust
ness interests of Westminster. The with
drawal of several hundred of its population,
and the loss of thirty or forty thousands of
dollars which they annually spent in our
midst, will be materially felt The butchers,
the bakers, the produce dealers, the groeers.
the dry goods merchants, the taiIors, the shoe
makers, the hotels, the boarding houses, and
every one engaged in business will feel the
loss OF this industry, whilst the decline in the
demand for country produce will affect the
market to the detriment of the farmers and
hueksters of the surrounding country
From our own knowledge, and from what
we have learned from the officers. there is
money to be made ont Of the establishment,
aud the assistance of but few thousands of
dollars is all that is needed ''There is the
plant as the President of the Company ex-
pressed It, (which only needs cultivation to
make It grow and become strong and pros
porous. Will our people let it wither, or be
removed, or viii they nourish it?
MANCHESTER ITEMs.-This letter reached
us too late for publication last week:
A Sunday School Convention, under the
auspices of the clergy of the district of the
Reformed Church, embracing Carroll county,
was held in Trinity Reformed Church last
week. Rev. VIM. Rupp, of Manchester,
President, and Rev. J. G. Moss, of Westmin-
ster, and 7. A. Long of Taneytown, were
present. The exercises we're opened on Tues.
day, the sth inst, and closed ON Thursday