The times. [volume] (Richmond, Va.) 1890-1903, 1900-05-02

MORE MONEY FOR
BIG ENTERPRISE
B. F. Johnson Publishing Company
Compelled to Increase Its Capital.
GREAT INTEREST MANIFESTED.
Applications for Founders, Stock We're
Received from Iwenty-onc
States and Subscriptions
Continues
GREAT INTEREST MANIFESTED.

the U.s. F. Johnson Publishing Company,
which has recently developed an extern
ssve school-book trade in addition to its
regular suhscripti on-book business. The
new charter of the company authorizes a
capital of S2.o9o.9r0 1t is announced that
the capital has been fixed at 81. go i0, or
ESQ shares at 800 each, divided as fol-
lows: Founders stock, $1o0,eJ0; common
stock. 100000: preferred, s per cent. GU
Tnulaive stock (preferred as to assets
ana dfvidendsl, $4,000 The founders
stock was placed on the market several
weeks ago. and was taken in a few days.
Among those who subscribed were many
OF the most prominent business men of
the country The preferred stock is now
being offered by iMessrs. John l.. Will
laIns & Sons and Davenport & Bros. and
st Is expected that it will be disposed of
without delay.
The interest which the business world
has taken In tine reorganization of this
company is remarkable. II Is said that
applications for the founders stock came
from twenty-one States. and that sub
sor!pGons are still coming IN, although
the books were closed several weeks ago.
This expression of confidence from aboard
IS. Of course. partly due to the faith
which the business men of Richmond
have shown in the enterprise. Several
months ago, when it became apparent
that the rapid development of the COM
panyS. school-book trade would require
an Increase of capital, the directors
called together number of leading bank
ers and other financiers and laid the af-
fairs OF the house before them. After a
careful inspection of the business of the
concern these gentlemen advised a reor-
Eanization of the company on an en-
iarsed scale, and SIessrs. Virginius New
ton. II. T. %. Myers. John %. Purcell, ].
S. Elicit and Joseph Bryan consented to
aid IN the undertaking by acting as an
advisory committee. In accepting this
trust the members of the committee said:
I'VE have faith in the enterprise, and
are working purely TO promote the in
terest of the city and the Southern peo-
pie without any compensation whatever
for our services
DIRECTORS CHOSEN.
After dispasing of the founders stock.
the committee called meeting of the
stockholders. at which the following direc-
tors Were chosen: George w. Watts, sec
rotary and treasurer of the Duke To-
bacco factories, Durham. y. c.; Captain
". a. Courtenay, president Courtenay
Manufacturing Company, Newry, s. O.:
93oylln Wright, attorney, Augusta, Ga;
William Garis, capitalist, Baton Rouge
La: W. NJ Thompson. attorney at law
Jackson, Miss: Atwood Violet, banker
and broker, New orleans and New York
and Z. i. Addison, of Allison e Addison;
R.' Lancaster Williams, Banker; &C. V.
Meredith, attorney; EiTginius Newton,
president First National Bank; Z. a.
Eoen, OF a. Hoen & Co.; j. d. Crunp.
treasurer Wingo, Elicit & Crump Shoe
Company; IS. W. Travers. treasurer NIr-
GINA and Carolina. Chemical Company;
Oh. ". Rountree. of II. w. Rountree &
Bro. and b. f. Johnson, of this city.
G1r. b. f. johnson was elected president,
Nr. Z. a. Hoen vice-president, and Mr..
J. u. Crump treasurer.
1t was stated yesterday that the new
board Will at once take steps to enlarge
the facilities OF the business as contem-
improvements contemplated is a large
modern plant for the manufacture of
school-boolls in the highest style of the
art. In addition TO its series Of school
Books the house publishes some OF the
most popular subscription books of the
day. 1t also has a growing trade de-
partment
SOUTHERN BOOKS.
If any one mad predicted a dozen years
ago that the time would soon come when
Southern school children would study
their lessons from school books written
by Southern authors and printed by a
publishing house located in the South, he
would have been set down as "a dreamer
rather than a prophet. But the publish
most everywhere, and at the present rate
Of progress, il is said that it VIII be but
a short time before they will he found
IN every scfooi-house in the South.
The development of this house furnishes
one of the most interesting chapters in
the history OF Southern enterprise Its
history says the Manufacturers Record.
like that of every great enterprise. is
The history Of the genius of a man.
rol-.
OF noldlng nlol,s into armies ana ends
6n the establishment of empires, or
whether it takes the direction of untiring.
Intelligent labor to supply some great
popular demand and ends in the founding
OF a dynasty OF merchant princes, the
conditions are much the same. Every
great movement has owed its success to
some great man, and the account of the
development OF the work of the Johnson
Publishing Company is little more than
the record of President Johnson's early
struggles and discouragements. of his
utreless efforts and hopeful perseverance,
and OF his final and splendid success.
HOW MIR. JOHNSON BEGAN.
0dr. johnson began life as a book agent.
While yet IN his teens he rented aAsingle
room On the Golidin building in this city
and undertook the publication of books
on his own account. The business grew
1gap!dly from the start. and in a few
years became one of the largest suhscrip-
tion-book concerns in the world. Several
years ago the company was urged to I'M
dertake the publication of a series of
school books which should be especially
adspted to the needs OF Southern chill
dren. The beginning OF the school-book
department. like the beginning Of the
subscription-book business, was small, and
the first year was fuH of encouragement.
but The work was steadily pushed in line
face Of all obstacles, and today the John
son textbooks are in use not only
throughout the Southern States, but in
eorne parts of the North and in several
foreign countries. The company has al
ready published seyenty-tive textbooks,
and il Is announced that nearly as many
more are in course of preparation, while
many of the books already published are
being revised Tor subsequent editions
the work requiring. il is said, the services
OF a hundred and fifty authors and teach
ens. The house publishes histories. read
ers. grarnmarss. writing books. spelling
Books. Latin Books, works on chemistry
and other sciences, lives OF Lee. jackson
and Washington, Lessons in Plant Life
and large ni,nbe. OF other books. John
sons Readers and Lees Histories are