The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1880-02-12
Mr.. L. D. Mowry was called to the chair,
Secretary Perry being at his post.

CeCIetary fefry DeinB at MS post.
MessrS. Donaldson and McCadghTin
committee, ascertained that. 1881 sharei
of stoek we,s represented, after which
Mr.. Hasnmett stated that ne had called
the meeting at the request of D majority
of the Board Of Directors to consider The
proprlety and adyisability of increasing
the capacity Of the mill. He also read
an estimate OF the cost of projected
extension from Mr. Lockwood, Mill En-.
gineer. A vote was then taken, On mo,
ton of MIR. Gregg, TO obtain sense Of
the meeting on the question of increase
which resulted almost unanimously In
favor thereof
| By resolution offered by Mr.. Hamlir
Beattie, unanimously adopted, the Presi
dent and Board Of Directors were author.
lied and instructed to increase the capital
stock by subscription to 100000, the
limit of the company's charter, the priv.
ilege of increase 20 be first offered to the
present stockholders in proportion to the
number of shares now held by caci., and
again in the same way to those of thei,
| number desiring it, should any OF the
| new stock be not taken up.
On motion of Mr.. Mclaughlin the
stockholders are allowed until April t1
signify their intention of accepting thei.
pre- gta share of the new stock. 1t was
fur. ,r resolved that the limit of the ex.
tension Of the mill be left 10 the discre.
tion of tho President and Board of Direc.
tors, who were also authorized ~ borrow
TO the extent of 100000, If necessary, to
complete the extension. On this point
Col. Hammett informs us that the capac.
ity of the mill will be doubled, or, in
,thes words, factory of the same size
; and capacity as the present one will be
added. Itwas ascertained in the meet.
ing that large proportion Of the in.
creased capital will be taken, and the
Directors et meeting held in the after
noon authorized and Instructed the Pres
ident to take the necessary steps for the
erection Of the necessary building and
purchase of m" -hinery without delay.
During the me ,tiug there was o very
general interchange of views aud the
business affairs OF the company were
freely discussed. The stockholders were
ell in fine spirits, and there seemed to be
general good feeling over the results of
tho past years work.
Col. Hammet will Mt once begin on the
grand task before him. and hopes to COM
plete the extension by the end Of 1880.
a contract for one and half millions of
brick has already been awarded to Mr.
Charles T. Hammond, Hho will begin
work as soon as the season arrives. It is
refreshing to SEQ men take hold of bus
mess proposition of such magnitude with
the vim nd unanimity that prevailed at
this meel,.g. Il must be remembered,
however, that the Piedmont Manufacture
ing Company is the wealthiest corpora
ton of the kind in the State, goodly
number of the stockholders being among
tho wealthiest men in the State and Others
from other States. Such people have it
in their power 70 wonderfully develop
the natural resources of the State, and
we hope the rich and prosperous Company
Of Piedmont Is only setting an example
for the formation of other corporations OF
like character 10 utilize the immense adj
yantages of the South by making her not
only an agricultural but a manufacturing
community--rich, prosperous and happy.