Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1891-08-11
statement to the Stockholders
ofthe Charles Town Mining,
Mfg & improvement Go.
CHARLES TowS, w. VA,
August l, 1891.

On Jle ZUIn OF Ju0B IhSb, puESudub
to notice, the first annual meeting of
the Stockholders of the Company was
held in the Court House at this place.
At that time statement of the finan-
ciaI and general condition of the
Company was submitted by the Pres
ident, a copy of which was mailed to
each Stakeholder.
The directors were gratifed at the
hearty approval of their efforts by
the Stockholders, which was expressed
in the following resolutions:
The foregoing reports of the Board
of Directors and Treasurer of this
Company having been submitted to
the Stockholders at this meeting, on
motion it was
Resolued, That the action of the Board of
Directors and Officers of this Company in all
matters set out in the report, and in making
and executing the contracts that have been
made with various parties by this Company,
and also submitted TO the consideration of the
Stockholders. and contained in the minutes of
| the Board of Directors and the executive Com
mittee of said Board be, and the same are
hereby ratified and confirmed.
ReSoLoed That this meeting vote Its hearty
thanks to the management OF the Company
for the ability and skill with which it has man
i 0ReQ tue aHAlfB OF IllB company.
The following Board of Dire tors
was elected for the ensuing year:
Judge Frank Beckwith, Forrest W. Brown,
Richard A. Alexander Henry H. Cooke, Col
R. Preston Chew, Charlestown, w. Va; j.
Gust Zook, Lancaster, Pa; George Adams,
Wheeling, w. Va; Charles Becker, Baltimore,
Nd; DIR. w. F. Lppitt, Gustav Brown, Joseph
Trappell. B: g. Washington, Charlestown, w.
| Va.;. U. F. Higginbotham, Brownsville, Pa.
The Directors elected the following
officers:
Col r. Preston Chew, President Joseph
Trapnell, Vice-President; B. =. Washington,
| General Manager; John Porterfeld, Treasurer;
s. Lee Phillips. Secretary.
Executive Committee.-R. P. Chew, F. w.
Brown. II: Fl. Cooke, B. G. Washington and
| Frank Beckwith.
The sale of lots which came off on
the 14th and 10Th of May was the
first important lot sale of the season
happeni since the universal fnan-
ciaI depression. Notwithstanding
the unfavorabIe times, it was largely
attended by strangers from dis
lance, and it has been pronounced
the most successful sale in the South
this season.
The prices realized for lots were
practicable and conservative. The
best proof of this being the fact that
a large number of the purchasers,
as well as those who drew lots at the
lot drawing, are building on their lots
residence and business houses.
The BELT Line of Railroad, con-
Meeting the Baltimore and Ohio and
Norfolk and Western Railroads, has
1 Iafa 80 al IN
all particulars. Freights are being
hauled over it from both roads to the
manufactures established along its
line and side racts are being extended
from it into the various yards.
On September 1st the Goetz Har-
uess Factory, the Boiler Works and
the Vulcan Road Machine Works will
move into their buildings now ready
for them, and will soon begin active
operations in their respective spe-
cialties.
| The Glove Works are in operation,
with orders ahead and fine promise
of success.
The Shenandoah Brass Works is
continually adding to its working
force. 1t has orders far ahead, and
is one of the finest brass pipe fitting
works in the U. S.
Industries of nearly every kind are
constantly enquiring for location here.
The Hotel Powhatan is well on the
way to completion, being built strict
ly according to the plans of Messrs.
Baldwin & Pennington, architects
Hotel men, we'll posted, pronounce it
a "gem," and assure US it will be q
great success.
A large number of houses are I'M
der contract and in course of con-
struction, presentinga brisk and busy
scene.
We can say with confidence to the
stockholders of this company that the
whole enterprise is long ago passed
from the experimental into the real
istic state.
1t only requires you to come and
see for yourself and be convinced
that rapid, but solid and natural pro-
gress, is being made all along the
lines of this development.
The new Charles Town has good
word from all quarters, and needs no
boom advertising and f" clap trap"
The work is visible from two rail-
roads, and speaks for itself.
In order to give titles to lot pur-
chasers, the Company has been pay
ing off the purchase bonds before
they have fallen due.
Payment on stock assessments lave
been we'll met by the subscribers
There are comparatively few delin-
quents, and these will be required to
pay in full.
1t will be greatly to the interest Of
the Stockholders individually, as well
as to the Company, if they will fire.
quently come here. This is s'stock-
holders company" and being oper-
ated for their benefit, their visits will
encourage the managers, and they
will themselves gather renewed in
terest in the enterprise.
Unquestionably, when the country
RECEIVERS from the present depression
real estate will be active at this place.
The development here is assured, and
prices of lots have never been above
their building value. 1 think this
condition is well known everywhere.
1t will be sacrifice for owners of
property to press sales at this time.
A little patience and hearty coop
Grafton on the part of the stockhold-
| ers, / feel confident will soon result