The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-02-17


q Roanoke said she would do it, and she
did it. That SIS, 900 is guaranteed.
When the proposition was laid before
tho Real Estate Exchange last Wednes-
day night that an important industry,
with capital of from $3.50, 900 to $780,
600, employing 900 hands, might be Sc
secured for Roanoke if the citizens of
Roanoke would raise $4,000 to add to
the Roanoke Development Company's
own subscription of SIS, 900, there was
need of neither telescope nor bung-
starter to show the exchange that tho
time had come for action. Twenty-six
thousand dollars was raised quick
enough to make tho hair stand on a
bald head.
1t took less than fifteen minutes to
raise it. Then committees were an
pointed to push the subscription papers.
THESE committees button-holcd and
argued like cargo Of missionaries at a
bush meeting in the Cannibal Islands.
They damned the list up to $4,000
between Wednesday night and Satur-
day morning. Then it hung on it's bear
ings. Two rcd-hot circulars were
printed and circulated. The last one
travelled around town yesterday after
noon and invited every prominent man
in Roanoke to attend q meeting at the
Opera House at 8 o'clock. Eight O'Clock
came and about 200 gontlemcn were as
sembled. A good many prominent men
were conspicuous by their absence, but
Nature compensates by making some
men philosophical enough to supply
the lack in others.
President 1IockadaY, of the Real
Estate Exchange, called the meeting to
order, and Mr.. j. A. Dupuy was in
stalled as chairman. 1t did not take
long to get TO work. Mr.. Dupuy stated
the object of tho meeting. Mr.. T.. C.
Pcchin made an address, in which he
repeated the statement made by him
last Wednesday evening as to how
Roanoke had been given an opportunity
to secure this industry.
1T is, said he, "a successful and
profitable shelf hardware industry from
tho heart of New England, which has
paid dividends averaging Z per cent.
from its beginning twelve years ago. 1t
has manufactured stock on hand of cost
price of $4,000, which will be an avail
able cash asset, and patterns valued at
S22O,O0 at low estimate. This indus
try Will pay out in wages alone not less
than Sl50,0O0 year, to say nothing of
its expenditures in plant and in the
purchase of raw material. This $50, 600
which we are raising is to buy out the
interests of the older stockholders, who
are opposed to moving South. The
younger element decidedly favor the
change"
Mr.. A. c. Denniston then laid the ia
miliar proposition before the house,
making clear the option on the Roanoke
Development Company's stock, to which
each subscriber to the industry's stock
would be entitled.
Col. A. Pope was urged to his feet by
repeated calls. 81 speak" said he, las
a citizen of Roanoke. We must have di-
versified industries. We must bring in
a class of wage-earners who will spend
their money in the town where thew
make it. 1t is only by bringing in az
gregated capital that these wage-earH-
ers can be had. This proposed indus
try presents an opportunity which must
not be neglected"
Col. j. T.. Penn said: "Roanoke
would not be what it is to-day were it
not for the concerted action Of her citi-
zens. Tho rolling mills were estab-
llshed here after considerable effort
like this Then came tho American
Bridge Works, without asking aid.
Then came the West End Furnaces, in
which Roanoke citizens took an interest.
Where would this city be to-day if these
industries had not come? Once let an
other town get ahead of Roanoke and
we are done for. This proposed enter
prise will do moro toward building up
Roanoke than another railroad, for it
will be great advertisement and will
bring other industries in its train. This
section has not one tenth the popula-
ton it can support. If you don't be-
ileve 1T, look at Massachusetts and New
Jersey, with. scores of large cities with
In areas only fraction the size of Vir-
ginia.'
Then President James S. Simmons, of
the State Exchange, took the floor. 81
never mako speeches." said he, "but I
have brought ono with me and will get
the chairman to read it,"
MIR. Simmons thereupon handed a
paper to Mr.. Dupuy, who proceeded to
read as requested:
"The following diversified industries
are located in the city from which this
proposed industry is to come: Six
wooden mills, four cotton mills, two
paper mills, one shelf hardware manu-
factory, one bleaching and calico mill.
two rolling mills, one cutlery factory,
three steam heater factories, one stove
mandatory, one woodworking estab-
liShmcnt three fire arms factor;ac 80