The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-03-29

The mass meeting held at the
Academy of Music last evening to con-
slider the proposition extended to Roam
oke by Captain j. G. Henry. II. b.
Woodruff, j. D. Lazell and others to
build cotton mill in this city was at.
tended by about 500 interested citizens.
The lack OF numerical strength did not
tend to abate the enthusiasm which
each speaker conveyed in his language
or to dull the applause with which
each speaker was received by the
audience.
The benefits to Roanoke by the intro
duction of the mill were dwelt upon,
particularly those to be derived by the
laboring classes.
The meeting was called to order by
President w. e Deaton, of the board
Of trade, and Secretary Anderson read
the following proposition, which was
the key note Of the meeting:
ROANOKE, Va, March %, 1893.
ITO the Board Of Trade:
"GENTLEMEN: AS most of you are
aware the question of building cotton
mill at Roanoke has been under con-
sideration for some months past by the
board of trade. In September last, on
the invitation OF our committee on new
industries, Capt. j. b. Henry, of Green
Vile, s. c., assistant to the president of
the Piedmont mills, visited Roanoke
with view to establishing a mill at
this point. Since that time your board
has been constantly at work upon this
subject trying TO get the matter in such
shape as to insure the establishment OF
the mill. 1t has reached that stage that
on January S, 1898, a company was
chartered with Captain Henry as presi-
dent with an authorized stock Of $780,
600, the purpose being TO build and
operate cotton mill of 10000 spindles
in the city of Roanoke.
Tho present status of the affair is as
follows: 1t is proposed to construct a
mill of 10000 spindles, which will en-
ploy about 325 people. To construct
such mill will require a capital of
S250,00l. OF this amount Capt. j. F..
Henry, president of the company, is
willing to subscribe personally, or raise
among his personal friends, the sum Of
$50, 1000, and Mr.. H. G.. Woodruff, of New
York, who was induced to take an in /.
terest in the matter by Mr.. e. j. Bond,
member Of the board, will raise SlOO,
600, provided the people OF Roanoke
will raise the other 500 600 necessary
to establish the mill. Mr.. j. D. Lazeli,
who has been North once in the inter
est OF this enterprise, has received such
assurances from capitalists there that
he believes that he can raise $50, 900
among these Northern capitalists if the
people of Roanoke will subscribe
S50,000 to the enterprise. and thus show
their interest in it's establishment and
their faith in its success. 1t will be-
seen By these statements that the peo
pie OF Roanoke have an opportunity to
get 100000 Of outside capital invested
in an enterprise in their city If they
will only raise the sum of $4,000.
Captain Henry, president of this
company, has had an experience of
eighteen years in the cotton manufac.
turing business in the South, and is
thoroughly familiar with the details of
the business and the history of cotton
manufacturing in this section, which
mas been one of almost uniform success
ne has investigated carefully tho con.
dltions at Roanoke which will affect
the success of such On enterprise, such
as the price Of coal, the price of the raw
material, the cost of labor, the rate on
the manufactured product to the North
ern and Eastern markets. and states
that he believes Roanoke to be one of
the best points in the South for indus
tries of this kind, and backs his iudg-
ment by offering to subscribe largely to
the capital stock of the company He
also agrees to build and manage the
mill for reduced salary until IL will
have demonstrated its capacity to pay
10 per cent. on its capital stock, show
ing that he has the utmost confidence
in tho ability OF such an enterprise to
pay at least 10 per cent. located at
Roanoke
"Mr. Woodruff is connected with one
OF the largest cotton commission houses
in New York and is thoroughly familiar
with the business, and be has demon
strated his faith in tho success of the
enterprise by agreeing to raise $1OO, 000,
provided the people of Roanoke will
raise the balance needed, or 500, 900.
1--WE feel that it i. useless to dwell
upon the advantages OF such an enter
prise to Roanoke, more than to say that
IL offers an opportunity for safe and
good Investment; it will give employ
ment to the ia miles of our workingmen,
ana Will be beginning from which we
DeleVe Roanoke can be made an I'M port
AM Le1tlle manufacturing center.
we present this proposition to the
board OF trade and citizens of Roanoke.
and would urge that every effort be made
to comply with the conditions named
Respectfully submitted.
Nv. Il. DEAToN,
"For the Board of Directors.
Mr.. Deason tnen carefully dissected
the proposition. showing the advan.
tages which would accrue TO Roanoke
from this new industry, and after ex-
planning that it was matter for DELHI.
Grafton and discussion, called upon j.