The times. [volume] (Richmond, Va.) 1890-1903, 1898-11-03
HAXALL MILLS
SALE CONFIRMED.
They Become the Property OF Mr.
Valentines Syndicate
The STOCKHOLDERS DISAGREE.
But the Desires Of the Majority are
Carried out-work 60 BE beg"" IN
Thirty Days. and FullPossession
Given in Ninety Days.
The STOCKHOLDERS DISAGREE.

'Nyithin a short time Richmond viii
have "a new en,erprise-one that VIII give
employment 10 nearly four hundred men
ana weekly disseminate between 500
and 500 in wages.
The matter was finally settled yesier-
DAY afternoon. when Judge Il. H. Well
ford. Jr.. OF The Circuit Court, sitting for
judge Lamb oI the Cbancery Court, en-
tered "a decree confirming tho sale OF the
Haxau Mills 90 syndicate headed by
mr.. Henry Lee Valentine, for the sum
~ Sll5.0l'
Tho stockholders were not unanimous
in asking for the confirmation OF the sale
so th's syndicate. Major Charles 5.
strngfelow. representing Mr. Fred X.
Scott. holder Of a one-sINth in the pro-
perry. appeared 60 advosato allowing Mr..
y. a. Catin, representing 4 syndicate.
an option of sixty days for 81 co. he hav-
ing made an offer OF $4,000 for the
mills.
THE SALE CONFIRMED.
MCssrs. Frank Christian. W. j. Leake
uad Eov Munford. representing the hold
CTS of the other hve-siXths of the pro-
perry. advocated it's sale 20 Mr. Nalen-
tines syndicate, and Judge Wexford. af-
ter few remarks sustaining the conten-
tions advanced by them, agreed 10 con-
firm the sale.
For four and q half years Judge W. J.
Lcake. who represents the larger portion
of The property, has been endcavoring
without avail 20 dispose of IL advan-
tageOusly. In his remarks before Judge
Wexford he expressed himself as salts
fod with the price obtained for this once
valuable plant
The progress OF the negotiations which
have resulted in this sale were laid be-
fore the Court by MI Frank Christian,
Judge Lcake and Mr. Munford showing
that considerable difficulty was encoun-
tered in bringing the sale TO a successful
conclusion. They set forth how several
meetings OF the stockholders had
been hcd. the last being on
the morning of october 3lst. Of
fers were forthcoming from Messrs. T..
q. Todd. Of Baltimore. I1oWy Lee Nalen-
tine and +. A. Cotln o. Richmond.
The OFFER Of Mr.. Todd was $l-0ooj. of
which $4,000 was 10 be in cash. and the
balance arranged satisfactorily. This
offer. however. was later Withdrawn
SEVERAL PROPOSITIONS.
The syndicate represented by Mr. VAL
ontine and that headed 10y Mr. Catlin
made several offers. the outcome being,
as the bondhoders understood it. that
each was TO- put mp a check for 5000 for
"a sixty-days' option on the property at
the price of $4,000.
Mr.. Valentines check was forthcom-
ing hut when the stockholders met last
Monday. they found that MIR. Catin had
NOT complied with the terms. He APP
pcared before them. and explained thas
Doc had not understood that such was fhe
agreement and subsequ nifty offered 10
deposit 5000 for a siNty-days' option at
$4,000.
Sir. valentine then said that as the
other party. through q misunderstanding
had not complied with the terms set out
at the former meeting he was unwilling
20 be- bound by a.. lie therefore renewed
an Offer originally made by him 10 de-
posit $3.50 for ana option, and to give
Siss000 for the property.
THE OFFER ACCEPTED.
The stockholders finally decided TO ac-
cent this offer and the sale was cone
nrmed yesterday morning, as above
stated
Major Siringfclow's contention was
that the OFFER of Mr. Catlin 10 INT Up
5000 for "a siXty-days' option al $4,000
should be accepted as in case bis optic
was not exercised the stockholders would
receive the 81 600 which would BE- forfeit
CO... HN W'i Nn Atf ifNt AlNNl AiN ilAA4o
meanwhile.
Messrs Christian. Munford and Lcake.
on the other hand contcndod that the
mills were only rented for term Of three
months and that the rent barely paid
the expenses. while loss Of interest ON
the S3ioo) taxes. Sc. would more than
wipe out The difference. even il the $50 900
were paid
MIR. HARRIsONS WORK.
Mr. r. r.. Harrison has been at work
ON this great scheme I'm conjunction with
other business men. for more than q year.
II Is proposed 10 begin work ON the mills
within thirty days but on account of
leases three months must clapso before
fuH possession can be secured
As stated the new enterprise viii he
large paper. pulp. and cardboard mill.
employing from 200 20 GOA mon, and with
o. weekly payroll of between $1,000 and
5000
10 IS said that the syndicate represent
ga by Mr.. Caflin would. had il secured
fhe property used II I'M the construction
Of a compressed air plant for which a
franchise was secured some time ago.
Mr. Valentine and his associates are
naturally much pleased al the success
which has attended their great efforts,
and the business men Of Richmond are
much ENCOURAGED at this evidence OF
confidence In the future Of the city.