Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-07-24

HnnIss WIN Send on Stock.
!. NJ. Darlington explained the
financial end OF the project aud made
1t clear To all just what had been
done and Will be don. with all funds
Invested in the new company. lie
further stated that banks could not
purchase this stock as the principal
nssets. the ships. VIII not belong 10
III" company for ten years. Mr.. Car
rinpton gave the audience "a message
from President John NJ Miller. 81
the First National Bank, who was
unable to be present. He said his in
stitution would loan a. per cent to
stockholders on their holdings In the
company. Colonial iiill. president Of
the National state and city Bank,
who was present., made similar
offer.
" y Reed. II. ". Ellcrson and
many others spoke on the advan-
tage Of tho enterprise and what II
Will mean Tor Richmond.
/, is planned to make one stop at
Ci,y ro!nt, which Will enable the
company to take care OF all freight
In and out Of petcr>S3rg. II is an
dcrstooh that merchants Of Peters
burg are 10 bus a big block Of stool.
In the company just as soon as the
organizers say tn" word.
Says Sraport- Only Grow.
Commander Lowell made 1t very
clear, using many Illustrations. that
" city cannot expect TO grow and b.
come nationally prominent unless I;
is a seaport. He further told of his
years OF study in this field aud how.
after weeks Of Investigation and
consultations in Washington with
officials on matters pertaining tn
,his project. he VIII subscribe one
ha!f of his commissions for stock.
temporary board Of directors
composed OF the following. was an
pointed 10 speed on tho operations:
j. scott Parrish, ". s. Finder. II. :.
Einswangcr. W s Rhoads. T.. e.
Sydnor. James r. RyianG. IL ". Ell
!"rHon. w. Madison. Jaquelgn T.. Tay-
Tor. h. ; Carlton, W r Reed. Milton
Conc. r. NJ. Darlington. John *
Hranch and 5 u. CrenshaN
Larus & Brother started the now
81 money into Tho cncc:s 81 tn" ncs
grEanlzht!pn by subscribing $4,000
Two hrnIs took sl0,o0G worth each
The Siandar! Paper Company and the
Albcinarlc Paper Company. The fol.
ipWing subscribed 5000 cach: Etchi.
s -" iiat Company Miller x Rhoads
w lth lhS3n. Williams & Reed Co, Car
rinEion y CO. wangcr Glass Com
rany. ana Watkins CottrcN GO.
Siauy Firms Subscribe.
me following b.f subscriptions
We're also taken: Atlantic Varu!sh
i'odeksr Drug Company. $4,000. Rich
inonG StOT. Company, $1,000: Andcr
son Brothers Inc. 5000. Universal
Motor Gompany.s. $4,000: i. y. stokes
$4,000: row.vs-Tay ior Drug Company
$4,000; VtrF!nin-Ctroiina Hardware
Company. 5000 William i'm Go.
S2"uci ovens Drug Company, $4,000,
Hugh Antrim. 5000: The corlsy 90
's'00oo' GardweN Machine Works
5000 G. +. Saucr Co. $1,000; Donrau
Hardware Company. $1,000; L. - Tay-
.or Co. 81 200; Western Electric Com
pany, $1,000; Richmond Power and
Machinery Company, $1,000. West
morc!and Candy Company, $1,000,
Bcaufont Co. $1,000 L. Llchtcnst.ir
Co, $1,000: Flc!shman. Morris & Co.
! rtD; Fleming " Christian. $1,000
G. u Antrim $1,000; Coleman Worth
am Co. 900; Richard Gwathmcy
$1,000. w ". Lefcw X Sons. 81. OOn
Cecil, Barnc,o and Cecil. $4,000. and
many others for smaller amounts.
II Planned 10 turn the new com
pany. when completely organized
uv"r 20 an operating concern which
has experience In running such lines
wtth contract that viii keep them
from making ANY profit unless thcr.
enough l"it so that the owning
company viii also have made sorne-
thing on their Investment Mr. Tar
risn reported that they already ha!
no Offers from such operating lines
Tho rates for shipping w.li bc the
sam" as railroad rates now arc and
ns an Increase is announced within
;hc very near future OF 30 per cent
;nc new company wiil start OF with
that InCrcas" included