The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-12-21
NOW AN ASSURED FACT
A FINE BOARD OF DIRECTORS
SELECTED.
AsTE FOR THE MILL HAS 8 EN- OFFERED
An Sgent Appointed to Collect Subscriptions to
the Stock. Other Subscriptions viii be
Solicited. The Capital Stock to
be S25. 900.


The stockholders of the new Mel
rose Knitting Mill Company met in the
mayors office yesterday afternoon and
perfected the organization of the COM
pany.
The charter was accepted.
bylaws were adopted.
Directors were elected.
Collection Of stock subscriptions were
authorized
And the committee that has been SO.
Letting stock was directed TO continue
their efforts until the so, 600 mark is
reached.
The meeting was called to order by
Mr.. w. n. Jones, and on motion Mr..
j. S. Wynne was asked to preside. Judge
Womack was elected secretary.
Messrs. G. e. Leach, f. T. Ward and
j. w. Harden We're appointed commit
tee ON proxies. They reported, out of
les shares subscribed, 81 as represented
The charter granted by the State
was then read and accepted by the cor
poration.
A copy of the bylaws as reported
by committee was also submitted 10
the meeting. After some discussion and
alterations it was adopted.
These rules provide that the annual
stockholders meeting shall be on the
second Thursday in January of each
year: that the board of directors shah
consist of nine members: that the direc-
tors shall meet the second Tuesday in
each month. Special stockholders meet
ings may be called by the directors. or
upon petition of one-third of the stock.
Special meetings of the directors shall
be called by the president on petition
of two or more directors. The officers
OF the corporation shall be a president,
vice-president, secretary and treasurer.
The secretary and treasurer is required
to give a bond OF $1,000. Compensation
OF officers and employees shall be fixed
by the directors.
The bylaws are so framed as to give
the financial control OF the corporation
to the directors, rather than to its off
GERS.
On adoption OF the bylaws the follow
ing directors were elected to serve until
the annual meeting in 1901:
CHAS. e. JOHNSON.
VAN r. MOORE.
]. w. HARDEN.
Y. w. WEST
FRANK Il. WARD.
Us. WYNNE.
G.. G.. LATTA.
The question of building for the
mill was then brought up, and it was
stated that the julius Lewis Hardware
Company had offered its warehouse, cor
ner Of Wilmington and Dayie strets, for
$1,000 in stock.
After some discussion the question of
the selection of a site was left to the
board of directors.
On adjournment of the stockholders
the board of directors met and elected
Mr.. j. w. Harden, OF the Raleigh Ma
tional Bank, as financial agent of the
corporation for the purpose Of collecting
the ten per cent. Of the stock sub
scribed and now due.
In the meantime the soliciting com
mittee viii continue its efforts to secure
subscriptions to the capital stock.
Among the stockholders present at yes
terday's meeting We're the following: c..
O. Latta, George w. Thompson, b. s..
JerInan. Chas. E. johnson, G. Il. Leach,
j. S. Wynne, w. Y. Jones, Frank T.
Ward, J. w Harden, james @. Litch-
ford. H. w Jackson, It. III. Busbee, NJ.
T. Leach, John Ward, Frank Ellington,
George Allen, Fab Brown. Chas. Park,
Robt. G. Strong. Jesse q. Ball, A. NJ.
Powell, " c. Register. Henry Litch.
ford, Thos Ashe and w. e. Jones.
The mill is now an assured fact; and
in charge Of it have been placed men in
whose financial ability everybody has
the greatest confidence 1t will be a sue
cess from the start.