Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1889-03-22
Organization Of New Companies.

RAILWAY ELECTRIC SIGNAL Co.-GREEN
FOREST IRON AND STEEL CONT
TORY MINING COMPANY.
The Rockbridge News gives the agree
ment on which the Railway Electric Signal
Company was formed-one party to it being
Mr.. W. III. Waddell, the inventor, and the
other, Capt. H. l.. Hoover. Under this
contract stock company was to be organ
lied composed of 500 shares of par value
OF 800 each. Of these shares Mr.. Waddell
retained $50 paid up. One-fourth of this
amount he assigned Mr.. 5. O. Campbell in
consideration of assistance rendered him in
perfecting his patent. OF the remaining $50
he agreed to give MI. Hoover 100 paid up
shares for organizing the company, and the
balance Of the shares We're to be sold. Sixty
dollars were to be paid upon each share
upon the organization of the company, and
when these $50 shares were sold and the $50
paid upon each share, MI. Hoover was to
be recognized as having fulfilled his con-
tract. Of the amount $4,000, thus to be
obtained, the inventor, MI. Waddell, was
To,oop
$1,000, was to constitute the working capt.
tai of the company, to which upon call
might be added $4,000 unpaid upon the $50
shares of capital stock. The News says
that at the meeting of the stockholders:
'By eleven O'Clock the entire amount Of $50
shares had been subscribed and $4,000 in
cash had been paid to the Treasurer of the
company, and it was declared duly organ
iZed.' Among the stockholders who at
tended the meeting of the company for
organization, were the following from
Staunton: L. G. Morton, E. G. Vincent,
7. S. Doyle, W. H. Wolfe, Carter Berkley,
H. L. Hoover, E. L. Edmondson, W. w.
Gibbs, G. S. Baker, J. S. Humbert, W. w.
McGuffin, Guy Cochran, w. L. Patton,
William B. McChesney and B. F. Hughes.
The Board Of Directors have elected W.
B. McChesney Director i'll place of M. P.
Funkhouser, whose engagements prevented
his accepting the place. The annual meet
ing will take place Oh Wednesday, April Sd.
IRON AND STEEL COMPANY.
The Green Forest Iron and Steel Compa-
ny has been organized at Lexington to ope-
rate furnace at Buena Vista. The Off
GERS named in the charter are Capt G.. f.
Jordan, President and General Manager:
7. E. McCorkle, Secretary and Treasurer;
with B. G. Moomaw, Jay Hugh Wills, G.
H. Efinger, I. E. McCorkle, G. F. Jordan,
of Rockbridge; Mosby H. Payne, Lynch
burg, and P. A. Baylor, Stamton, Direc-
tors. Minimum capital fifty thousand dol
lars. maximum three million dollars.
MT. TORY MINING COMPANY.
A dispatch from Winchester announces
that the Mt. Tory Mining Company was
organized there on Friday last. The maxi
mum capital is to be $1,500,000. The Mt.
Tory furnace property is situated near
Waynesboro, and between Buena Vista and
the Crimora Manganese Mines, and the
company proposes to mine both iron and
manganese. III. II. Richards, of Stonebur-
her & Richards, of Baltimore, was elected
President; Frank II. and John L. Wissler,
of the Winchester Paper Mills, r. E. Grit
fifth, DE-. w. S. Love, M. II. G.. Willis,
Cashier of the Union Bank, and Shirley
Carter, all of Winchester, were elected di-
rectors; John w. Rice, Cashier of the Shen-
andoah Valley National Bank, was elected
Treasurer.