The leader. [volume] (Brookhaven, Miss.) 1895-1905, 1902-04-09
OIL CO.'S CONSOLIDATE.
To be Only One Cotton Oil Mill at Brook
haven Instead of Two.

| haven Instead of Two.
! At a meeting of directors of the
Progressive Oil Mill and Fertilizer
Co. and the Brookhaven Cotton Oil
Co., on Monday night, an agreement
was reached under which only one
cotton seed oil mill will be built at
this place, instead of two, as heretofore
proposed.
Under the articles of agreement the
consolidated company is to be known
as the Brookhaven Progressive Cotton
Oil Co., and instead of two companies
capitalized at $4,000 each, the capital
stock of the consolidated company was
placed at 100000. OF the 10000 stock,
half is to be taken by the former stock
holders of the Progressive Oil Mill nd
Fertilizer Co., and half by the former
stockholders of the Brookhaven Cot
ton Oil Co, but $1,000 of the latter's
stock is to be disposed of to persons
not heretofore members of either CON-
pany, but who will be loyal to and
work for the success of the consolida-
ted enterprise. All the present hold
ings of real estate, ETC., of the two COM
panies is to be absorbed by the con-
solidated company. Another of the
expressed conditions of the consolida-
ton is that the plant of the company
shall be located within the corporate
limits of Brookhaven. A new board
of directors was elected as follows:
From Progressive Oil Mill and Fer
tilizer Co.-F. +. Becker, Louis Cohn,
j. w. McGrath, E. H. Easterling; from
the Brookhaven Cotton Oil Goa. E.
Moreton, G. s. Butterfield, 0. Newton,
G. w. Covington. Mr.. Thos. Brady,
Jr., a stockholder in both companies
and who was largely instrumental in
bringing about the consolidation, was
selected as the ninth member.
The board of directors thus consti-
tuted, elected E. H. Easterling pres
ident of the company and Louis Cohn
ce-president. A secretary and treas
urer and a manager, are to be elected
at future meeting of the directors
soon to be held, and those offices, by
mutual agreement, are to be filled by
persons recommended by the stock
holders of the Brookhaven Cotton Oil
| Co. Meanwhile Mr.. David Cohn is to
act as temporary secretary and treasu-
rer.
A committee was appointed to ex-
anime machinery and building plans
and report at future meeting.
The LEADER coDgratulates all par
ties concerned, including the commu-
nifty at large, on this amcable and hon
orable adjustment of what threatened
to be an Improbable and hurtful busi-
ness rivalry between two companies.
In section of country where no more
cotton seed are raised than in the ter
rtory tributary to Brookhaven, and
with oil mills as mum erous as they al
ready are in South Mississippi, two
mills could hardly have proved a
profitable investment. The new ar
rangement not only gives assurance
of success to the cotton oil mill enter
prise, but is a pledge of that unity
aud harmony of action along industrial
and commercial lines generally, so
necessary just now for the continued
prosperity and future growth of this
city.
At no distant day THE LEADER hopes
to see the consolidated company, or
capital interested through its infiu-
ence, establish a cotton factory or
some other valuable industrial enter
prise in Brookhaven not now supplied,
for such thing is practicable.
The charter of the newly consoli-
dated company appears in today's
LEADER.