The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-09-10
STANTON NOTES.

that he had ii violent type OF typhoid
fever, and very little hope of his recov>
cry was entertained from that time. He
was at the time of his death, member Of
the Legislature from Augusta county,
and had been prominent in the public
affairs of the county for number OF
years. He served for several terms as
high sheriff of the county, and had been
identified in business cir
cles for a long time. He was regarded as
a safe business man and had been quite
successful in his public and private
transactions. He will be much missed
in public matters, as well as private
associations He was man of fine judg
ment, and many excellent qualities,
which drew to him warm friends and
associates His age was a out 6S
wears. He was the father of lawyer
George s. Lightner, of the Stannton bar,
Charles Lightner, farmer, w. T. Light
ner. Mrs. Dan B. O'Rourk. Mrs. Butcher,
of Staunton. and several other children.
The Staunton Shoe Factory made an
assignment on Saturday last, with A. G.
BraXton as assignee. The liabilities of
the concern will reach $4,000, with
assets in real estate, supplies on hand
and accounts. ample to cover that
amount The want of ready money to
conduct the business as it should have
been conducted was the cause of the
assignment We understand that the
Factory will continue operating, and it
is hoped will be able to strengthen and
enlarge it's business in the near future.
The called meeting of the Stockhold
ers of the Shendun improvement Com
pany, held recently, resulted in "a radical
organization of the Company. The Off
GERS now are Edmund S. Ruffin, of
Norfolk, President; Benjamin Watkins,
S e or, Vice President; James w.
Rumple. Treasurer, Directors: Execu-
tive Committee-E. S. Ruffin, j. w.
Rumple, W z. Roberts, A. d.. Wright,
and III. B. Harpesberger. Major H. M.
Bell and r. p Bell, of the old Board,
were elected on the new Board, and A.
NJ Howison retained rs Secretary. Major
Jed Hotchkiss, the old President, is not
member of the new organization.
A statement submitted to the Stock
holders by Jed Hotchkiss, 4. NJ Howison,
Il. NJ. Bell, Z. II. Catlett, Charles Cat
lett, and 4. p. Bell. of the promoters,
presented the condition of the Company
in a gloomy aspect. as a result of the
non payment of stock subscriptions and
notes given for lots sold, aggregating
s1e4, 900, and says that if there is not a
compliance with their contracts on the
part of those indebted to the Company,
so that the Company can meet the obli-
cations assumed TO procure industries,
it wonld have to go into the hands of a
receiver. The statement concludes
In full and final settlement of all matters OF
difference and controversy between us and the
Company, we propose First, that we retain that
proportion Of the full paid stock reserved fol
each Of lis as promoters, and the lots drawn Oh
such stock and that the same be ratified and
confirmed by this meeting. Second, that we
severally surrender and release 30 the Company
all our interests In the $35G000 OF notes or lots
and that so far as any part OF these notes has
been already converted into lots stock, by
purchase from the Company or others, that the
proceeds of such conversion shall be conveyed
or released TO the Company and the parties
making such conversion shall be restored tC
their original condition before such conversion
was made.
Then follows further statement that
the Board of Directors is not harno-
Nous body. and recommends that the
old Board resign and the Stockholders
elect an entirely new management.
The basis of the reimbursement propos
ed by the promoters, was substantially
adopted, and an entirely new board
elected with the exception we have
stated
An address by the new Board to the
Stockholders assumes that the Company,
under the organization, is now in a
good condition, and all that is wanting
is the earnest and active cooperation of
all interested to make the enterprise the
success IilaS WAS i'll uTSb COL !bltNtu.
Judge John Paul, in the United States
District Court at Harrisonburg, on the
goth and 9th of August, heard argu-
ments on the application of the Law
renee Iron Works Company, of Ironton,
Ohio, for the appointment of a receiver
for the Rockbridge Company. Messrs.
E. n. K and William Talcott, of New
York and NJ II. Gillian, of Richmond,
appeared for the petitioner, and Hon.
w. A. Anderson and Miles Martin repre-
scented the Glasgow Company. The
bill alleges an Indebtedness of about $780,
600 due from the Rockbridge Company
to the complainant being the balance
of loan OF 100000 to the Lawrence
Iron Works Company in consideration
of the removal of its plant to Glasgow.
1t further alleges encouragement on
the part of the Rockbridge Company
directors and insolvency of the Compa-
ny.
Messrs Anderson and Martin made a
vigorous rejoinder to these allegations.
They declared that instead of being a
creditor the ironton concern was a des
linuuent debtor OF the Rock bridge Com
pany and had not complied with its con
tract in the establishment of its plant at
Glasgow, and its organization was a
mere skeleton affair, with but a small
part of its capital stock subscribed, and
much of that by parties who were insol-
vent. Some of the funds advanced by
the Rockbridge Company had been miss
appropriated to individual uses, and
notice was given that a cross bill would
soon be fled which would show the
Ironton Company's large Indebtedness
to the Rockbridge Company.
Exhibits were filed to establish the
solvency of the Company, even though
it's assets were discounted 50 per cent;
af1idavits were read from creditors said
to represent nine tenths of the Compa-
ny's real Indebtedness, protesting against
the appointment of "a receiver, and eX-
pressing confidence in the present man
agement. Judge Paul took the papers
in the case and Oil the 4th of September
rendered "a decision refusing the appli-