The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1890-07-17
Shoe Factory.

last week, at which certain steps We're
taken looking to the management of
the concern The meeting was ad
journed, to meet Friday night last. In
the meantime rumors were aioat on the
streets unfavorabie to the business of
the past year. But ii is not thought that
there is amy serious trouble. 1t WAS
known that the hands were on ii strike,
but il was said to result from differences
betw cen the force and the foreman.
AT the Friday night meeting some
twenty-five stockholders were present in
person, and many more represented by
proxies. The Old board was reelected.
and nj. Erskine Miller and j. ID. Crowle,
added to the board as new members A
bombshell was thrown into the meeting
by the following resolution offered by
w. I. McCue. Resolved that the board
proceed to dispose of the property of the
Shoe Factory by sale, lease or otherwise.
as in their judgment may be to the best
interest of the stockholders; provided
that i'll all cases, all things being equal
the preference shall be given Staunton. >
This resolution was prepared before
hand, and WAS offered without comment
1t seemed to daze the stockholders pres
ent, to such an extent that it was put
and adopted without comment. NJ
Erslline Miller, chairman of the meeting
said the resolution smaclled of disloy-
atty to our own inter ests, whereupon its
adoption was reconsidered, and the
resolution placed before the meeting for
discussion. The gravity of the situation
was fully recognized; but it was the de
sire of those present to have the resolu-
tiOn so amended .aR,to look to the further
working of the factory, or if it should be
come absolutely necessary to make some
disposition of it, to have the matter re-
ferred to u fuller meeting of the stock
holders. This was bitterly opposed by
Mr.. Weller, the president, and in his
opposition he was sustained by the old
members of the board. Mr. Weller
stated that he would fight to the bitter
end any reference to the stockholders
1t did not strike those present, that "A
president and board of directors, who
had confessedly made a failure of the
management of the factory, should be
entrusted with such broad powers, with
out the knowledge or consent of the
absent stockholders, and after a long
and heated discussion a resolution was
adopted as follows THAT the board of
directors be directed to place the factory
in good running order, and failing to do
this, should contract for the disposition
OF the property by sale, lease or other
wise, to the best advantage of the stock
holders, i'll all eases, other things being
equal, giving Stanton the preference,
provided that no action looking to the
disposition of the property should be
binding, until ratified by the stock
holders
The meeting adjourned to meet the
first Monday in Augusta
Let every stakeholder keep his eye
on the above date, and come prepared
to consider fully the important matters
to be brought before this adjourned
meeting. 1t is d matter not only of in
terest to the stockholders but to our
city AS well. Ii through the want of
OF proper management, Or want of funds
or whatever cause this enterprise is al
lowed TO be taken from our town and
carried to some OF the new Cities now
waiting to get it, who will be able to
defend our city against the ridicufe and
contempt of persons who would criticise
our efforts at home to build up an indus
trial center? 1t would givea black eye to
all our new enterprises, and place us at the
mercy of other growing industrial towns.
1t is a serious question for all our inter
ests, al d should be well considered by
our people. If the present management
has failed to inspire confidence or win
success, give us new management and
new trial. Under new management,
inspiring confidence and an appeal to the
business men of our city, there will be
no difficulty in securing additional funds
to run the factory successfully 1t will
never do to allow this industry to be
removed from our town
Mr.. Van Pelt, Editor of the Craig,
Mo, Meteor, went to a drug store at ii ills
dale, Iowa, and asked the physician in
attendance to give him dose of some
thing for cholera morbus and looseness
Of the bowels. He says Il felt so much
better the next morning that | conclud-
ed to call on the physician and get him
to fix me up q supply of the medicine