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

Mr.. Il. -. Mowry was called to the chalr,
Secretary Perry being at his post.
Messrs. Donaldson and Mclaughlin,
committee, ascertained that 1881 shares
of stock were represented, after which
Mr.. Hammett stated that he had called
the meeting at the request of a majority
of the Board of Directors to consider the
propriety and advisability of increasing
the capacity of the mill. He also read
an estimate of the cost of a projected
extension from Mr.. Lockwood, Mill En-
gineer. A vote was then taken, on mo-
ton of Mr.. Gregg, to obtain sense OF
the meeting on the question of increase,
which resulted almost unanimously in
favor thereof.
By a resolution offered by Mr.. Hamlin
Beattie, unanimously adopted, the Presi-
dent and Board of Directors were author
lied and instructed to increase the capital
stock by subscription to S500,000, the
limit of the company's charter, the priv
ilege of increase to be first offered to the
present stockholders in proportion to the
| number of shares now held by each, and
again in the same way to those of their
number desiring it, should any of the
new stock be not taken up.
On motion of MIR. Mclaughlin the
stockholders are allowed until April l to
signify their intention of accepting theil
pro rata share of the new stock. 1t was
| further resolved that the limit of the ex-
tension of the mill be left to the discre.
tion of the President and Board of Direc'
tors, who were also authorized to borrow
10 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
other words, factory of the same size
and capacity rs 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 at a 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 machinery without delay.
During the meeting there was very
general interchange of views and the
business affairs of the company were
lIS6l1 uloSuoSSus LUG SIOShhOlOCAo hOkC
all in fine spirits, and there seemed to be
a general good feeling over the results Of
the past years work.
Col. Hammet will at 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, who will begin
work as soon as the season arrives. 1t is
refreshing. to see men take hold of a bus
mess proposition of such magnitude with
the vim and unanimity that prevailed at
this meeting. 1t must be remembered,
however, that the Piedmont Manufactur-
ing Company is the wealthiest corpora
ton of the kind in the State, goodly
number of the stockholders being among
the wealthiest men in the State and others
from other States. Such people have it
in their power to 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 to utilize the immense ad-
vantages of the South by making her not
only an agricultural but manufacturing
communicated, prosperous and happy.