The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-02-23

rs it ia now, has tho following concern
ing its management by Col W. p,
Thompson, SO well known TO Wheeling
people;
For some tino after tho consolidation
of the various load companies the pub
lie were disposed to view securities Of
the trust with n good deal OF unGasIness
the capital kept growing to large and
unwielly figures and the concern had
to pass through all the torments OF
aggressive legislation which u few years
ago made tho operation oil the indus
trials task which lew would now care
to undertake.
1t was while tho Trust was under.
going these trials that Col, W. p,
Thompson who then filled the Office OF
vico.president OF the Standard Oil Com
pany was requested to assume control
OF tho Trust. lie was just on tho point
OF retiring from active business, but the
prospect OF having such field for the
exercise Of his administrative abilities
was too great an induCement and he be-
came president OF the organization IN
1880.
His energy and ability soon had a
marked effect on the returns from bust
ness OF the National Lead organization
everything transacted was worked in
such a manner as TO show some profit
and before long he not only had the
concern with ample working capital
but vas able to show q large surplus and
pay a dividend on the capital which
had then grown 10 over SSO,000,000.
Tho business OF the company is con-
Quoted upon the divided responsibility
plan, or "the block SYSTEM" each i'm
portant district being in charge OF its
own general manager, who feels his
own responsibility within the field CHI
trusted to his care, as well as necessarily
his responsibility 10 the general whole.
Through this subdivision system better
results are attained than would be possi.
BILE under ono management, however
capable the one man might be. 1t in
sures accountability OF all connected, q
desire TO excel, while the general man
agemont can more otFectually supervise
the results as presented, and apply cor
rection or reward.
Experience has demonstrated that
this is tho only safe aud effective
method OF conducting IN extensive BUSH
ness.
President Thompson recognized the
fact that in order TO DO free from llar-
assing litigation and aggressive legisla-
ton it was absolutely necessary for the
trust to take on legal shape. Accord
ingly the present National Lead Com
pany was incorporated in New Jersey
on December 7, 1891, and on January l.,
1892, took possession OF the property Of
the trust. The capital OF the trust be-
fore reorganization was increased to
s9O,000OOO but the capital oil the Ma
ti0nal Lead Company was made $50,
100000, n moro reasonable figure, OF
which one.llalt is preferred and one
half common stock Under the new
arrangement there has been decidedly
smoother sailing. Tho management
OF the company have established the
most friendly relations. not only with
its customers, but with all trade con.
nections, and it would DO hard to find
an industrial corporation anywhere
where there ia less friction either inside
or outside tho management, The com
pany performs all tho work pertaining
TO its business, inclnding coopering, and
an idea OF the amount OF work turned
out may be gained by the fact that one
mill in Brooklyn now has in hand over
10, 900 kegs made during the dull season
for use in the spring All these will be
used up however in very short time,
MS soon rs the rush begins, and the
Coopers will have to work day and night
TO keep up with the demand.
Col. W. 7. Thompson who has now
been identified with the management oil
tho property for years is u native Of
Wheeling, West Virginia. He practiccd
law in his early days, but when the war
broke out he organized u regiment ana
vas one OF those who were active in
making history during tho most excit.
ing period OF tho century. lie led the
regiment organized by himself and
mako a record as soldier OF which he
end all connected With him may well BE-
proud.
Colonel Thompson, while devoted
chiefly TO tho interests Of the National
Lead Company, is also prominent in
other companies. lie 10 vice.prcsident
OF tho United States National Bank Of
this city, and n director Of the Southern
National Bank, Mercantile Trust Com
pGny, american Iloyds' Insurance Com
pany and Of other prominent organiza'
tons. Ito IS also vice. president OF tho
New York Southern Society. In his
business he displays a quiet, persistent
energy that has no cyclonic tendency
about II, but all the eGor:s are directed
toward accomplishing successful re-
suit, aud no attains that ond without an
unnecessary waste OF power. At the
same time his business methods arc
smooth and tranquil, not due to dispo
si,ion TO Weld, but simply to tho fac
tina. tho arrangements are perfect II
detail, and as q result all tho operations
are conducted without jarring or JOLT
ing, the work under him being similar
to travel over m asphalt pavement in
stead OF over Il rocky road.
II goes without saying that in the
management Of such q gigantic bust
no's as tho National Lea! Company,
executive ability OF tho highest order
is demanded, and this ability must be
applied for long period before It's Of
forts can DO asccrtalned to their full
value. The conditions In this regart
have been completely fulfilled in thii
case, and the company now stands on q
solid foundation, with an established
trade OF enormous volumn, high TO
mutation for fair dealing, an ample
capital to carry on It's operations, and
stalr OF officers who have been tried II
tho past year By harder trials than the!
arc over likely to face In tho future
md who have shown that they arc full,
able to guido the company either II
calm or storm.