The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1919-08-08
Steel Plant Not to Locate Here

that $4,000 Of first mortgage bond
were to be subscribed, of which Lam
bertville was expected to take S58, OO(
and the other parties to give satisfac
tory assurance that they would tax,
the balance and provide clear work
ing capital Of not less than 1000
Lambertville was also to provide g
free site and possession of the same
by September /. In order to comply
with the latter requirement the Mer.
chants Association had agreed to raise
$1,000 and the members of the Joint
Committee had individually proposed
to raise the balance of the purchase
money and take title to the upper Eye
farm, belonging to the Delaware Riv-
err Quarry & Construction Company
and convey five acres for the site re-
quired to the rolling mill. 1t became
necessary to sign contracts to COM
ply with all of these requirements by
August l and it became impossible to
do so, 50 that the option to purchase
the farm was not exercised and the
parties did not sign the contract to
comply with their part of the bargain.
The joint committee authorize the
following statement:
It is fair to the people of Lambert
vile that they should be informed just
what was done with regard to the
foregoing conditions. As to the bonds
the people of Lambertville subscribed
for approximately $4,000 and George
W. Arnett agreed to take the balance
up to $4,000 and the outside parties
agreed to accept that amount and
provide for the balance. 1t was me-
cessary, however, to agree on terms
and conditions of compliance with
these requirements before August /
in order that the Committee could ex-
ercise their option and purchase their
farm. The form of contract was sub
stantially agreed on, but finally the
New York parties were unwilling to
sign until they had consulted with
some of their hackers, and finally adj
vised that they were unable to do so.
| In order to secure the site Mr.. Ar
nett paid $500 on account of the pur-
chase money for the farm and secured
an option to purchase the whole of
the same for $1,000, which option ex-
pired August 1. The Merchants AS
sociation agreed to raise $1,000 and
the individual members Of the Joint
Committee agreed to share with Mr.
Arnett the other requirements for pur-
chase. The farm is at present occu-
pied by Mr.. John "A. Malloy and while
he stated that he would not stand in
the way of the proposed industry,
there was some difficulty in securing
his agreement as to exact terms I'M
der which he would surrender posses
sion. At first, he proposed to surren-
der possession of the site required on
condition that the members of the
Committee would lease the balance of
the farm to him for six years, with
an option to purchase for $4,000, but
finally an agreement was made with
Mr.. E. F. 3Quirke that possession of
the site was to be surrendered Sep
TENDER and Mr.. Malloy was to have
payment for actual damages to his
crops and an option to purchase with
in ninety days for $1,000. The Com
mittee agreed to these conditions and
gave Mr.. E. F. Quirke a like option,
but none of these requirements were
complied with before August l and no
contracts signed. The opportunity is
now past and the Committee have re-
ceived letter from Mr.. lQuirke stat
ing that it is source of much regret
to them that the plans laid out should
not be followed.
Following is-a copy of. the letter:
Mr.. Walter Hayhurst,
Lambertville, N. j.
Dear SIR
With reference to the matter of the
rolling mill which the writer and his
associates contemplated erecting in
your city, we beg to advise that we dc
not feel, after due consideration, that
we will erect this mill in Lambertville
We went into this thing very exhaus-
tibly, spent considerable time and in
Cured considerable expense, and it is
a source of much regret to us that our
plans as laid out could not be followed
although it was our earnest desire
that the mill should be erected in your
community.
We wish to thank you, however, fol
the time and trouble you have gone
to in this connection, and the writer
in particular wants to express his ad
miration and appreciation of Mr.. Ar
nett's progressiveness as well as his
business capacity.
| / regret extremely that this situa
ton has arisen, but feelfor the inter
ests of all concerned that we shoulc
divert our efforts to other channels.
Yours very truly,
E. F. QUIRKE.
The gross receipts at the picni,
last Saturday in Lindabury's Grow
a Fryt