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Director's Meeting,
Lynchburg Glass Corporation - December 16, 1924

These minutes were scanned, converted to text, and edited by Dennis Bratcher from original copies now in the Jones Memorial Library in Lynchburg, Virginia. The original minutes were typewritten. The text versions were converted to a screen font for ease of reading. As a result the exact formatting of the original has not been preserved. A scan of the original is below.

Director's Meeting

The adjourned meeting of the Directors' of the Lynchburg G1ass Corporation was held December 16th [1924] at 10:30 A. M. in the Directors Room of the Peoples National Bank with the following present:

N. D. Eller
J. William Gayner
John Victor
J. D. Owen
R. C. Watts
D. H. Dillard
C. L. Snidow
W. H. Loyd

Minutes of the previous meeting were read and approved.

The president made a full report of his investigation of the Insulator business with the Western Electric Company and other Jobbers of New York which gave the impression on the whole that business for the next year looked very favorable and that all parties were figuring on increased amounts of new business and contracts.

The Fruit Jar prospects also looked good and he had for consideration one or two excellent connections with New York Purchasing Houses and Jobbers on this line, providing the necessary operating capital could be secured to install machinery and operate at full capacity.

The president discussed an offer by the Chatham & Phenix National Bank of New York City to extend the Company a line of credit, accepting an entire issue of first mortgage bonds on the plant as collateral.

After a thorough discussion of this proposition, on motion of C. L. Snidow, seconded by R. C. Watts, Mr. Eller was instructed to have Mr. Henry Sackett, Attorney, prepare the papers for first mortgage bonds on the plant for $75,000.00.

On motion made and duly seconded, a committee of three, named by Mr. Eller as follows: R. C. Watts, J. D. Owen and D. H. Dillard was appointed to check and give the figures needed for this additional capital and to report to the Board at a meeting to be called for this prupose [sic].

There being no further business the meeting adjourned.

___[signed: N D Eller]____President

____[signed: W H Loyd]____Secretary