The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1920-01-30
PUBLIC MEETING
HELD TO DISCUSS
RUBBER. INDUSTRY
Gsod Attendance at City Hall
Tuesday Night - Committee
Named for Further Invest-
cation.
THIRD MEETING PLANNED
FOR FRIDAY EVENING

4 At the Friday meeting of the XII
wants club Mr.. Eaton, of Akron, was
present and gave talk on prospects
for rubber plant in Medina. He de-
voted his time largely, 20 the possi-
bllities of the rubber industry and
dlt! not go vely deeply into the pres
poets that Medina offered, or that
the special plans for manufacture by
his confreres opened up. There was a
good attendance of members and
friends, and tthe talk was listened to
with interest.
After the talk by Mr.. Eaton inter-
ested citizens were invited to stop
and have heart to heart confab in
an impersonal way. About a dozen
accepted the invitation while the rest
quickly left. In but few instances
was this intended as dislike to the
proposition; many were forced to
leave to release those staying in the
stores while the men present attend
ed the meeting. Many of those who
left are heart and soul in, any prop
osition calculated to benefit Medina.
A dozen business men ACCOMPANIED
Mr.. Eaton and the visiting engineers
to the Horn property, across from the
Shives home on West Liberty street.
The N. O. runs through this property.
The visitors were well impressed with
the prospects, and so said This site
has been optioned by Codding- Bag
ley-Case with a view to having it for
this express purpose in case the deal
can be put across.
I'm an after gathering Of few Me-
dinaites Mr.. Codding said his COM
pany would act as agents for the sale
Of the rubber company stock, if put
across, without taking cent pf COM
mission. The further fact was
brought out that the, man with the
patents and formulas would accept
the quota Of stocks for his requisites
that the blue sky commission at CO.
lumbus said was his due for his hold
ings, and the promoters will take the
10 per cent allowed them by law for
the organization also in stocks. The
site, too, is not asked as free Offer
ing from Medina but will be paid for
from the million dollars nut into the
business and the sum paid shall be in
ACCORD with the finding of the COM
mission at Columbus, which is un-
biased in it's acts. H.. ~
This Friday meeting was followed
by meeting in City Hall Tuesday
evening, at which time about fifty
interested citizens gathered. Harry
Codding made a report on what he
found in Akron, his. investigation
having most to do with the st1nding
of MIR. Eaton and his associates.
Discussion brought out the fact
that the plans embrace an issue. Of
$1,000,000 of preferred stock and a
like sum Of common. The broker will
receive his Is per cent from the COM
mon stock issue, each subscriber for
four shares of preferred will be- given
one of common, and Mr.. Schwartz,
the man with the formulas and tire
molds, will be given his block from
the commentator he has made good
with his formulas.
Discussion Of the proposition led to
the appointing Of committee o. five
to go to Warren and Akron and in
vestigate further, Messrs. Eaton and
Schwartz, also to look up the mold
and formula and see if the story is
true that the Firestone Tire CO. is
using this man Schwartz's tire mold
to manufacture certain tires at this
time. On this committee were named
Messrs. Pelton, Smith, Hyde, Dear
mitt and Codding. This committee
will make their investigations on
Thursday.
A meeting will be held Friday
evening, in City Hall, to hear the re-
port of this committee and further
discuss the proposition.
Editor Baldwin reported that he
(had called friend in Akron to
make inquiries as to Mr.. Eaton. His
friend knew there was such a man
but could I've no information as to
his ability or financial strength.
When Mr.. Codding made inquiries
of the references submitted by Mr.
Eaton he found that his acquaintance
was not very large and that while
there was no criticism of him no one
could say that he had ever had large
business deals with him.
The. whole discussion of tlk even
ing ISL simmered down into the prop
osition that Medina business men be.
lieve in giving Mr.. Eaton and his as.
sociates an opportunity to prove their
proposition, and if further investiga.
tions shows the project good one
then united effort will be made te
raise the money necessary to starr
profitable rubber business in Me.
dina.
Mr.. Codding reported that his com.
pany had been given the site under
consideration to sell by the owner al
figure of $4,000. The day after the
visit of the rubber men, however, thu
owner hod come to their office anc
asked to withdraw it from sale
Messrs. Codding- Bagley- Case had ,nt
\ articled sale contract, but had finally
prevailed on the owner to leave thu
matter in status quo. There was 3
feeling Of insecurity, however. The
property under consideration is wha1
Is known as the Horn property, I