The Republican journal., 1896-10-08
The New Shoe Factory.

The new shoe factory enterprise continues
to advance in business-like way and we
shall soon hear the hum and rattle of the
machinery in the old Dana building The
Belfast Industrial Real Estate Company,
the corporation which owns the equity
above the mortgage in the former Dana Sar-
saparilla Company real estate in Belfast,
and is to manage it, has been fully incorpor-
ated since our last issue. The name of the
company was incorrectly published last
week by inserting an "and" between Sin
dustrial'' and "real estate" Edward Sib-
ley is a director of the company in addition
to those whose names were published last
week. AS this company will have as stock
holders a large part of our citizens, we give
the salient points of the organization pa
pers: Name-Belfast Industrial Real Estate
Company Purpose-"Buying, holding, i'm
proving, leasing, selling and exchanging
real estate and such personal property as
may be necessary or proper for use in any
industrial business y Otficers-Flve Direc-
tors President elected by and from direc-
tors Secretary and Treasurer elected by di-
| rectors. Their duties are such as is usual in
similar corporations; Meeting-Annual, on
first Tuesday of November in each year $50
there will be an annual meeting the first
Tuesday of next month"; Special meetings
called by President or five stockholders by
giving seven days notice; Quorum-Ten
stockholders constitute a quorum.
Mr. Chas. A. West of Boston, Treasurer of
and representing the Dana Sarsaparilla Co.,
was in Belfast last Thursday and conveyed
the Dana" real estate, etc, to John G.
Brooks, as trustee, by whom it will be held
until the mortgage bonds can be procured,
when he will convey it to the Industrial Co.
The property is insured.
1t is intended to equip the main building
with two supply automatic sprinkler sys-
TEN, and bids for furnishing same will soon
be received The few alterations and repairs
necessary to adapt the building to shoe
factory, are rapidly nearing completion. A
building will probably be erected on the
water front of the property, in which to
store the large number of bottles and other
property belonging to the "Dana" Company
AS soon as the directors ascertain how
much of the property will be required by
the Legro & Spalding Shoe Co., they will
endeavor to find tenants for the balance, so
that it may all be made to contribute to the
prosperity Of Belfast
Saturday two carloads of machinery for
the new factory arrived here from Lynn and
is now being set up, Six more car loads are
on the way.
A corporation called the Legro & Spalding
Shoe Co. was organized in this city Monday.
The capital stock is 100000, of which S25 900
is preferred and So, 900 common; number of
shares 6O0 par value of shares, 500. The
directors are John j. Lennox and Arthur p
Legro Of Lynn, Mass. George f. Spalding
of Newton Centre, Mass. John kohlraush
of Cliftondale, Mass, and A. G. Sibley of
Belfast George f. Spalding is president
and A. p. Legro clerk and treasurer OF
the capital stock $4,000 is already paid in
all for common stock. The first four direc-
tors in the list represent the common
stock and Mr. Slbley TIL preferred