Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1889-02-15
!ST4UNTON MUST DO MORE,

STA UNION MUST DO MORE.
Two months ago the VINDICAToR urged
the formation here of a Land and Improve
ment Company. Since that time, Lynch
burg, Roanoke and Danville have all formed
such companies, and they are beginning to
! produce results. A Land and Improvement
Company is nothing more than the simplest
form known of massing capital, contributed
by general subscription, under responsible
head chosen by the subscribers, and yet so
elastic that distribution of that capital
may be made among many deserving enter
prises without the contributors losing con-
troll Of it. The mode is plain and brief. A
popular subscription is made of say $50, 600
in small shares payable by easy installments.
A President and Boald of Directors is
elected to control this fund. Application
is made to them by some reliable man for
aid in establishing plant. It is inspected
and if satisfactory the company take stock
in it. 1t merely simplifies and eXpedites
the method of contributing to enterprises
in city. For instance, When the owner
that furniture factory to Staunton, if the
Land and Improvement Company had been
in existence much time would have been
saved. 1t would have bought a lot and put
that and a certain amount of money in, re-
ceiving SO much stock for it, thereby saving
the days spent in collecting the thousands
of dollars which were gathered together here
for the same purpose. Another provision is
to buy real estate in eligible locations and con-
tribute it in stock to enterprises which de-
sire to come here. This avoids the eXhorbi-
tant prices charged by landowners when it
is discovered that their land is desired for
manufacturing plants. The general
rights which a Land and Improvement
Company receives under its charter are
about as follows, which we copy from the
charter of the Lynchburg company:
81. To purchase and hold real and personal
property, and to sell, convey, lease, or other
wise dispose of the same.
p To borrow money and to issue its bonds
or notes for such loans, and to secure the same
by mortgage, etc.
s. To subscribe to the capital stock of any
other Joint stock company.
4. To build any mill. furnace, foundry or
any other mandatory and by its agents and
employees to conduct the business thereof.
D. To conduct mercantile, insurance, bank
ing, or any other business which may be large
ly conducted by any other person, whether
natural or corporate. And generally to build
houses Oh its lands open streets, give sites for
manufacturing enterprises, operate electric
light works or to do any other thing in con-
necton with such enterprises necessary for
the profitable and reasonable disposition of
their products "
1t is mquestionable that this is an excel
lent plan for the advancement of Staunton,
if not the very best that can be designed.
Through it, every sort of enterprise can be
helped in small OF large way as the wis
dom of the Directors may decide. We have
now, ready to be launched one enterprise
the Staunton Furniture Manufacturing
Company. 1t will take but a few more
hundreds of dollars to launch it successful
]y with the good will of everybody in the
community following it. That being out
OF the way, then comes Il Wagon Factory
for which there are great facilities ready to
hand. We learn that a well known wagon
making plant here, which has an establish
ed business, and is well known in the Val
ley, can he secured by a stock company, the
owner being large stakeholder, and by the
introduction of new machinery greatly EN-
larged in its output and the number of men
it employs. Such plant changed to a
great factory would find it's natural home
In the centre Of a district which sends off
thousands of dollars to the Western States
for wagons every year. The machinery,
the manager the timber are to hand and the
trade stands waiting. Yet another is the
Augusta Agricultural and Machine Works.
These works lately shut down, as their OWL
ers could not see their way clear to profit on
their investment. But the report of COM
mittee appointed by the stockholders has
entirely changed the face of affairs. It. is
ascertained that its affairs are in good con-
dition for starting up again, and that with
some additional capital it can not only start
up, but prove profitable investment. That
is another case Where the market for the
output lies near our doors and where there
is already an established trade to build on.
We suppose there is hardly to be found
man in Staunton who, if asked if it was
not absolutely necessary for the people here
to make some effort, would not answer
III the affirmative. The pressing necessity
upon us is that the world will not let us
take comfortable, lethargic rest if we
would. New enterprises are starting around
us. Efforts are being made to start new
towns right under our noses to take away
our capital, our Workmen and our mer-
chants Already Roanoke in our own State
and Florence in Alabama have made heavy
nroads on all three 1t is a matter in
which We have no choice: it is go ahead or
go down. We believe that the popular
mind here is more interested about enter
prlses than we have ever seen it. and that
interest is centered in manufacturing enter
prises. There is no popular feeling here for
starting towns on paper, OF balloon specula-
ti0ns, but it is for something to be started
right here III our midst to give out work,
wages and bread. OF one thing we are GER
tain-certain, because it was proven in the
first enterprise undertaken here this Win
ter-that the feeling Of our people is ripe
for aiding any enterprise that commends
itself to them on its own evidence OF the
evidence of those in whom they have conf
dence. We have never seen it ripper, never
such a real anxiety for something to be