Milford chronicle., 1921-11-18
THE FISH HOUSE DIRECTORS
published By ReQues)

! Mr.. Editor
In a recent issue of the Union Repub-
+ lican, weekly publication Of George
town, Delaware, Fair Play, has ably
and wisely put facts before the public
about the Lewes Fisheries Company,
which when fully understood takes on a
new meaning and puts different light
to the acts of the directors of the said
company, no matter what any court may
say to the contrary.
These directors are men who are hon
est honorable and at all times have had
the best interests of the Fisheries Com
pany at heart, for which at one partic-
ular time they willingly risked so much
to save, besides, these same men were
responsible for a gas plant, and can
ming plant, the one for the benefit and
comfort of the Lewes homes, the other
to give work and employment 20 women
and children who were materially bene-
fitted. A generous spirit actuated these
men in trying to give added conveniences
to the homes and employment to the
men, women and children of their town,
and untiringly working for a successful
business for the Fisheries Company.
They have not received the encourage
ment and gratitude that should be theirs,
to the everlasting shame of the people
of Lewes.
No well thinking person will deny, nor
try to dispute the fact, that the Lewes
Fisheries Company was of great value
to the community in which it operated.
Its great beneficial value is difficult to
estimate as it was far-reaching, from
the laborer to the merchant; from the
small investor to the capitalists; a great
boost and boon to the town Of Lewes
and immediate surrounding community
from which much labor, provisions, &c.
were procured. It gave new life, vigor
and ambition, fostered and encouraged,
with splendid results, achievements and
accomplishments.
This Company was in operation about
six years and in that time it grew from
an infant industry by careful watching
and handling, to a most prosperous
Fishing Company. Pray who were re-
sponsible for it's growth, development
and success? Surely not the stockholders
it was its officers and directors, by
whose untiring energies, foresight and
honest endeavor, risking much, floating
loans and procuring them backed by
their individual property as well as the
Company's property. that this great en-
terprise should float, live and continue on
to success-though discouraged at times
even by some of the stockholders-they
fearlessly kept on and were enabled to
liquidate at the closing out of their bus
mess and pay to the stockholders SIPS
for every dollar invested, being one of
the greatest if not the greatest enter
prise ever started and successfully clos
ed in South Delaware.
Fair Play says: 1.-THE faultfinders are
figuring their profits on the best invest
ment they ever made" well they may
figure-a cold million dollars distribut-
ed in short space of six years. Shame
on any man who would point the finger
of scorn at these men whose courage, and
iniative has made a wonderful and profit
able financial success of the Lewes Fish |
cries Company and for the so doing
they took for themselves less than deck
hands pay"
Did it ever occur to you how peculiar
the decisions of courts are and how OBJ
noxious their opinions appear at times |
to laymen in general? Illegally issued |
stock to persons on margin or time has
been held by our courts of recent date
to be a valid transaction and these same
persons were compelled to pay full par
value in order to liquidate an indebted ]
ness; but here is case where stock
was issued in the regular way and PAID
FOR, yet the act was illegal, because of
what? 1 don't know, nor neither do you.
You were offered the same stock, some
Of YOU bought it-yet that was all right,
wrong in that GUESS, but peo-
pie who happen to be directors of this
did wrong when they bought
some of the same stock that was offer
ed to you. A director of a Company is
q director only when he is in a regu-
arly called meeting of Directors-out-
side he should stand as you and I and
nave any or all privileges as we enjoy
even if it is to buy the stock of the Com
oany of which he may be a director. If
.hese people had tried to evade paying
or their stock 1 could have seen fraud
,ut they did not do this and even went
risked their all for this
Company.
Every dollar they had in this world
hey placed upon the alter-because they
believed in this Company and they felt
t must succeed, and thanks to their
oresight they did succeed and every
,ody seemed well paid for these direc-
ors' energy, and sacrifices, save, ac-
ording to a recent ruling, themselves
nd they must pay back what is less
han "deck hands wages"
Fine encouragement to big business
nd to those who make it a success. One
ad better ask ONE (?) permission to Z
ump out a sinking ship or else no pay.
Directors who are working in harmony
18th the management of a Company do
lg work outside of the regular routine,
1ch as using their individual property
s security to finance a Company's busi-
ess is surely engaged in work extra
rdinary and beyond the confines OF |;
leir regular duties as directors and for
1ch hazardous risk should be most /
andsomely remunerated for their risk; /
.cording to the decision of the court L
,e stockholders of the Company may re-
in the benefits derived from these ex-
aordinary services and allow no COM
,nsation for the same. Had the Com
~, foiIad their life's savings would II