Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-11
DAUGHTER HEAD
Of PAIN 7 En-
COMP ANY
Stockholders Choose Girl Presi-
dent of Drowned Mans Fer
tiIizer Concern.

JACKSONVILLE, June 11.-Miss
Okle Painter, daughter of the late +.
o. Painter was elected president Of
the f. 0. Painter Fertilizer Company
at q meeting Of the stockholders held
last night At the same time it was
decided to increase the capital stock
Of the company from $3.50, 900 to $780,
600, with the privilege Of increasing
the liabilities to an equal amount
Reports submitted at the meeting
declared the condition of the business
of the company to be fiourishing. A
10 per cent annual dividend was de-
clared.
Miss Painter announced, after the
meeting, that the business of the com
pany would be conducted upon the
same plans as heretofore under the
presidency Of her father, who was
drowned in the St Johns River May
| %. the cause Of which is still a mys-
terry.
Trained for Place.
No one is better able to carry on
the work Of the dead man than Miss
Painter Since finishing school she
has occupied a place in her fathers
office. Having no son on whom 20
depend. he trained his daughter to
take his place. She is familiar with
every detail Of the business, both ad
ministrative and manufacturing. She
has spent much Of her time at the
fertilizer plant directing affairs for
her father.
Another reason why the daughter is
the logical person for president of the
company is that she controls the ma
ior portion of the stock Her father
held 100000 Of the outstanding $780,
600 issue. Under his will all of this,
except $4,000 distributed in special
requests, goes equally to Miss Pain
ter and her mother Mrs Martha
Painter. The daughter retains the
exclusive voting power Of the $4,000.
the benehciaries to receive only the
income therefrom. This $4,000 will
eventually revert to Miss Painter or
her heirs. She also represents her
mother in the estate
Painter Planned Increase.
The action Of the stockholders in
doubling the capital stock is simply
carrying out the plans made by Paint
er. He had worked out the details
whereby small blocks Of the stock
would be sold TO planters in Florida
and South GgOrgi., who in turn would
buy their fertilizer from the Painter
company, thus increasing the volume
Of business done and give the planter
stockholders small rebates I'm the form
/ of dividends
! And az the same time Painter saw
| how he could add 70 his own holdings
| by declaring q stock dividend, giving
1 the old stockholders proportionate
shares of the new issue Painter. Of
course. planned to secure enough Of
the new stock TO still give him a
majority Of the combined issue and
retain full control of the business
Now the widow and daughter will
come i'm on that distribution. making
the daughter probably the only young
woman In the South as tie head and
absolute dictator Of a half million
! dollar corporation, doing an annual
! business said to exceed $75O,0O0
Since the death OF Painter, State
/ Senator J. r. Conrad, Of Glenwood,
/ has been nominally acting president
/ of the company, but he spent two
weeks Of the time at Tallahassee at
I tending the final days sessions Of the
/ Florida Legislature, leaving the
1 Painter business actually in the hands
/ Of Miss Painter, D. \. Morrison, Jr.,
secretary Of the company, anc G. Q.
I Hamlin. general counsel.