Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1896-05-14

most satisfactory advertisement tne aSso-
citation can have Is the fact that those who
have attended one OF Its meets are anxious
TO see another.
AS this is the only way the association
has OF raising money to send team to
the Dartmouth Interscholastic Athletic
Meet, to be held at Hanover, N. H., May
9th, the public is cordially invited to at.
tend, witness good meet and help good
cause along.
Now Let's Do Something.
There Is a possibility OF the sale OF the
Abbott steam mill, provided that our citi-
zens sre ready to extend their aid.
Messrs. j. ID. Mitchell and N. w. McCoi-
lom are the prospective purchasers, hav.
ing agreed upon price for the property
Mr.. Mitchell Is careful business mani OF
means. He has no practical knowledge
OF the mill business. This Is supplied,
however, by Mr.. McCollom, who has q
thorough knowledge OF 1t, having worked
for many years in the Abbott and other
mills in positions of Importance. He has
no capital to invest, though. He relies
on the citizens to loan him the necessary
capital to control half OF the STOCK. I'M
less this is secured the trade will not be
made. The following agreement will
make the plan clear, we trust:
We, the undersigned,iJ. D. Mitchell and
N. w. McCollom, agree to buy and oper.
ate the Abbott steam mill on the follow
ing terms:-The consideration in the deed
OF the mill as it stood May LIST to be
s., 600, which sum has been agreed upon
between the assignee, w. H. Dubois, and
ourselves. A stock company to be formed
with capital OF 81, 000 in shares OF $25
each. Mr.. Mitchell to take one half or
5000 worth OF the stock. The other half
to be subscribed by our citizens and the
half to be loaned to Mr.. McCollom on the
following terms:-Mr. McCollom agrees
to pay per cent interest per annum on
what stock is paid in and is to control
the stock as long as the interest is paid.
II and whenever he fails to pay the inter-
est, the control OF the stock Ia to revert to
the owners OF the same. Mr.. McUollom
is to have the right to purchase the stock
he borrows at not above par value at such
time as he is prepared to do SO.
j. ID. MITCHELL.
N. w. MCCoLLoM.
The price OF the mill is only 5000, but
it needs some repairs and possibly the ad-
ditioD OF some machinery. Then money
will be required to stock up with lumber |
and still more for working capital. In
the opinion OF men OF experience $12 600 |
is none too much for capital stock.
This stock will be non -assessable. Mr.. |
Mitchell will devote his attention wholly |
to the business, as will Mr.. McCollom, |
each taking moderate salary for their |
labor. The presence OF Mr.. Mitchell, who |
will have far more invested than any |
other one person, will insure thorough |
honesty and careful dealing. Mr.. Nc |
COLON Is to pay per cent on such money |
as is paid In on his half OF the stock. This |
Is as much as any bank pays. 1t is exempt |
from taxation for five years by vote OF the
town so that the rate would be equal to |
about 5 per cent. II Mr.. McCollom fails
to meet the interest the owners OF the
stock simply assume control OF it without
any legal process and can operate the
business In connection with Mr.. Mitchell |
or do whatever they seefit. At theprice the
property Is being purchased and in view
Of the mills splendid patronage when
handled, only the rankest mis-
can fail to make it success.
The Board OF Trade met number OF cit.
izens last evening for discussion of this
plan. 1t was thoroughly canvassed and
explained. Nearly or quite all present
agreed that 1t was fair and favorable
The Board was asked to can
vass the village to see il Mr.. McCollom's
share could be raised II willendeavor to
do this at once. Several have signifed a
to do their share and II all will
here will be no trouble In securing the
1t should be stated that the Abbott mill
will shut down in few days end will not
De started again by the assignee. There is
no other customersin sight except these
,wo men. 1t is very doubtful indeed
v neither the mill will be run for long
lime, II ever, unless this trade is made.
Everyone who does any business or owns
my property in this place can readily see
he Importance OF seizing the present op.
to start the mill.
Will Won tab q hnId9