Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-11-21
AN EXCELLENT START
IN THE RIGHT DIRECTION MADE al LAST
NIGHTS GLASS MEETING
Al the Chamber Of Commsrcs-Ths .. S COmpanys
Proposition Diseased "A Stock Company
TO Be Organized at Ones.

AuOenCE iuoebluB Va NitiArhS AZ O0A SSeSN
in the project to purchase or erect twt
glass factories, for the purpose Of pre-
serving the glass industry in this city
was held last night, In the Chamber o.
Commerce. Steps were taken toward
the organization of joint stock com
pany. A lively interest was manifested
in the matter, which was conclusivell
shown by the remarkably large attend
anee, and the general sentiment Of those
who participated in the discussion. By
the subscription Of number OF leadiDl
citizens to the capital stock of the pro
posed company, the project has beer
given an impetus which must eventually
result in the successful consnmmstior
OF the plans of the public spirited Xii
zens having the matter in hand.
AS before stated the meeting was
very large one. The chamber wa!
crowded, more than half the people
who attended being unable to obtain
seats. The meeting was called to order
shortly before eight o'clock. In the alb
sence Of Mr.. 2. B. Dobbins, who acted
as chairman OF the previous meetings,
Mr.. Frank Cruise was chosen as presi'
dent and Mr.. Howard Hazlett acted as
secretary.
Mr.. c. B. Hart reported for the com
mittee appointed at former meeting
to visit Mr.. Baggaley with a view &c
securing an option on the two local U.
5. glass factories. The committee did
not wait upon the President OF the U.
S. Company, but communicated with
him by mail. The proposition OF the
Company, signed by its President, was
read by Mr.. Hart.
THE U. S. CoMPANY'S PROPOSITION.
Replying to q letter from Mr.. Hart,
President Bsggaley stated that the mat
ter was submitted to some Of the large
stockholders of the company, who de-
cided 10 submit the following: First,
they conld not deliver possession OF
either of the plants before April 1st
next, inasmueh as it will require that
time TO dispose OF the stock stored at
the factories. Factory 10" President
Baggsley stated, cost the Company, ex-
elusive of glassware and material, 1914,
600, Including $4,000 for good will.
This amount, and other incidentals
named, deducted from the sum first
mentioned, left balance Of SiS9, 416.
Factory "H," cost the Company an az
gregate OF SITS, 300.1 Similar deduc-
tiOns place the Company's valuation up
on that plant at $137, 1913. The valua-
tion of the two factories was therefore
placed at S325. 500.
"As a special inducement to the citi-
zens Of Wheeling" MIR. Baggaley con-
tinued, he offeres to deduct from the
net cost % per cent, on ISL, 3S5, leaving
the price S244. 1874. This price includes
all the real estate, buildings, improve.
ments and machinery, exclusive OF
molds, snaps, formers, etc, etching and
patent pruntying machines, glassware
materials and supplies.
TERMS OF PAYMENT.
In the matter of terms OF payment,
the Company made the following propo-
sitioD:-one-fourth cash, and one-fourth
each in one, two, and three years, Sc
cured by bond and mortgage on the
properties; the mortgage to contain the
tight clauses" the property TO
be insured with the losses
payable to the United States
company, and the deferred payments to
bear interest at the rate OF per cent.
per annum. In concluding President
Baggaey stated that the whole matter
would have to be submitted to a vote of
the company's board of directors before
the deed can be delivered.
The reading of this letter precipitat-
ed an interesting discussion, bringing
out a variety of opinions. There was
but one sentiment, however, regarding
the offer Of the United States Company
that 1t was unreasonable. Whether
the plant can be secured at lower fig
ure will be determined In the future.
If not, it is altogether probable that
new factories will be erected.
Mr.. Hart referred to the public in
terest in the matter, and urged the i'm
portauce Of securing expressions of
opinion from all who were present. 1t
was matter of the utmost Importance,
aud It was necessary to know whether
there was a unanimity Of sentiment. II
was unwise to put alternative PROPOSE
tions to the people and ask them to go
il blindly. 1t was the proper time 10
determine what was to be done.
A motion was made, instructing the
committee already appointed to secure
an option on the United States glass
factory, to meet promptly after ad.
journment and then go TO Pittsburg to
consult Mr.. Baggaey for the pur-
pose of securing the lowest figures
on the plants. The motion
was lost. 1t was made for the purpose
of securing as much information bear
ing on the situation as was obtainable,
that the committee might be enabled to
treat with tho United States Company
In an intelligent manner.
A GENERAL DISCUSSION.
The discussion as to the best method
of procedure continued, and varsity
of opinions were expressed. Mr.. +. II.
Tango thought it pure folly to consider
q proposition TO pay any amount ap-
proximatlng $3.50, 900 for an old glass
plants He was utterly opposed to it,
and favored the organization Of an en-
tlrely new company, believing it to be
the most feasible plan. Mr.. Henry Bae T
deprecated the absence Of anything
tangible bearing on the project lie
had not been able to learn what it wa:
proposed TO do. He referred to the
present fight against the L. 5. Company
and the improbaoility that the company
would treat with an enemy on friendly
terms. He advocated the abolition oil
all former plans and the building of ar
entirely new concern, rather than two
factories. lie favored a modest star
and was opposed TO treating with the
U. 5. Company at all.
Mr. George Hook thought the proiec
should be started on firm foundation
A stock company should first be formed
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