West Virginia daily oil review. [volume] (Sistersville, W. Va.) 1894-1902, 1902-01-28

Last night a goodly number O
the members of the Ststersville
Board IF Trade met at the Office o.
Henry W. Mccoy to consult viii b
Mr. S M. Roedelheim of Pittsburg
as to locating a glass plant La thi:
city for the purpose of manufacture
Ing prescription and other bottles
The company has been chartered
under the laws of New Jersey and
will be known as the "Ohio State
Glass Company" Mr.. Roedelheim
Is one of three men who proposes
to build the plant. The other two
gentlemen are ]. R. McQuaide,
president Of the belmont National
Bank, of belmont, Pa, and II. L
Greer. Of Drqnesne, Pa, president
of the Monongahalia Valley Bank
Having two bankers In the concern
ought to make the stock go here
like wild fire. These men propose
to build tank plant with genera
tors TO manufacture their own gas
which they eau do at the rate of E
cents per thousand feet. to be used
In the event natural gas rates could
not be had at a satisfactory rate.
They propose to employ while on
small bottles not less than as men
and boys, and when working on
large bottles not less than I5) men
and BOYS. and of this plumber at
least 81 are 10 be skilled working
men to make not less than IS day.
They agree to run this plant for
forty weeks in each year and
to operate it on this basis for ten
consecutive years The plant in
the meantime Is to be held in trust
by the Board of Trade for the ten
years when If the company has at
the end OF ten years employed the
number of men aud boys. have paid
out 81 500 week in wages and
complied with all the terms Of the
contract, then the Board of Trade
wills make deed to the company
1or lie syourd and plant, other
wise the Board Of Trade will own
the plant This j. the security and
guarantee the CO.. oany gives to the
peop.e that 1t will do as it con-
tracts TO do. In addition to THE
the company agrees to issue stock
to pay tor a site for the plant
which will take from an acre and
halt to two acres of land, which
can be secured, so we are informed,
from Capt. Eph Wells, from his
lands just south of the Sistersville
Window Glass plant.
These gentle men ask our people
to subscribe twenty thousand dol.
lars. For this sum the company
will give each subscriber stock for
one half of the amount subscribed.
The capital stock Is to be fifty
thousand dollars, forty thousand
will be In stock and ten thousand
of a surplus fund our people will
own a fourth which will make their
stock worth one and quarter for
which they will have to pay two
to get. In other words If you sub
scribe one thousand dollars you will
receive stock TO the amount of FIVE
hundred dollars aud will own one
fourth of the surplus fund which
would make your stock worth on
Its face S625 We take stock and
give the compan bonus of seven
Thousand ana FIVE hundred dollars
The members Of the Board ofTrade
after discussing this matter a long
time last night have agreed to &C
cept ths Sc terms ard have started
paper oat to get tn subscriptions
on this PROPOSE on. Il Is more
liberal proposition than we had
from our window glass people
The security is ample. The money
subscribed is to De paid in when
called for. L: is agreed when we
pay ten per cent OF our subscrip-
ton the other members pay In ten
per cent also. That Is when our
people pay in say two Thousand
dollars the other three men pay in
three thousand dollars, so when
we pay 10 our twenty thou
sand dollars the other men
will have pald In thirty thou
sand dollars. The plant is es-
timated TO cost S. 900, this will
leave a surplus of twenty thou
sand dollars which will actually
be In the treasury of the company
10 operate the plant with when