St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1910-07-20
MAY GET new INDUSTRY
PilSbury-Baldwin Company of Bar
ton Ready to Move Large Plant
to St. JOhnsbury-Their
Proposition.

There was large attendance at the
quarterly meeting of the Commercial
club Thursday evening A great deal
of interest was shown in the report
of the Industrial committee which has
been at work for several weeks in
vestigiting the Pillsbury-Baldwin COM
pany at Barton, which is anxious to
secure a new location for its large
manufacturing plant. The company
manufactures plumbers wood work,
plumbers supplies, box shocks and
other wood work. The principal fea-
ture of the business is American oak,
an imitation of oak made from birch
ash and other woods. In the market
it sells for nearly as much as the
genuine oak, but does not cost nearly
as much to manufacture.
That the company is growing is
shown by the following figures: The
first wear they, employed from nine
to IT men and did a business of ST.
900; the second year they employed
"a men and did a business of $4,000,
third year 80 men and a business of
| $4,000. Last year, their fourth year,
they did a business of $81, 700 and en-
ployed 48 men.
Should they come to st. Johnsbury
they propose to erect a cement plant,
two stories high, so by 120 feet, with
a dry kiln about 80 by so feet. This
would give room for the employm ent
| of 200 men and the company believes
| it would be able to employ at least
| 100 men within a year.
Their proposition is that if they
come to ST. Johnsbury they will re-
| organize the company with $50, 600
common stock which they will hold.
| but they are to invest $4,000 here
| in return for the stock. They will
issue $4,000 preferred stock, pre-
ferred both as to dividends and assets,
| to be cumulative and bearing a seven
| per cent dividend. This must be taken
by ST. Johnsbury people. In the or
ganiZatiOn of the corporation they will
allow the holders of the preferred
stock to select four out of seven di-
| rectors of the company. Then the
proposition in word is if ST. Johns
bury people will take one-half Of the
stock and that preferred stock, the
Barton people will come here and in
vest 100000 in a profitable industry
already on good paying basis that
will give employment to 100 or more
men.
The members of the industrial com
mittee of the Commercial club, of
which John Rickaby is chairman, has
investigated the proposition very
thoroughly and believe it is a safe and
desirable industry for ST. Johnsbury
to secure. Subscriptions for stock
were asked for at the meeting and
about $4,000 was subscribed. Papers
have been placed in the hands of sew
eral citizens and active effort is being
made to raise the required amount of
stock. It is sold at par and bears a
guaranteed dividend of seven per
cent
Several st. Johnsbury men have
been to Barton to look into the pro-
position, among them, John Rickaby,
P. f. Hazen, H. w. Randall, F. H.
Brooks. A. B. Noyes, c. R. Lynch and
D. E. Porter. It looks good to them
and if st. Johnsbury people are ready
to invest $4,000 at seven per cent in
an industry located and controlled in
their own town there will be a large
growth in the villages industrial ac-
tiVity