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Directors' Meeting,
Lynchburg Glass Corporation - May 28, 1925

This was a specially called meeting in response to a series of letters between J. William Gayner and Jonathan Victor, president of Peoples National Bank and a member of the Board. Mr Victor had initially expressed doubts to Mr. Gayner about whether the business could be saved and Mr. Gayner responded with a series of suggestions that he thought could bring the plant back to profitability within five weeks. This meeting was to consider Mr. Gayner's proposals. These letters will be available soon.

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

A Director's Meeting of the Lynchburg Glass Corporation was held in the Directors Room of the Peoples National Bank, Thursday, May 28th [1925] at 11 A. M. with the following present:

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

Minutes of the previous meeting were read and approved.

The president stated that the meeting was called in response to Mr. Victor's request to consider a proposal made him by Mr. Gayner, the General Manager of the Plant.

At the Presidents request, Mr. Victor read the Board several letters which he had received from Mr. Gayner, and his answers to them with regard to Mr. Gayner's proposal to put the Plant on an even basis in five weeks time and in the discussion following, Mr. Gayner was asked to state his opinion and to tell the Board what he thought of the situation.

After a full discussion, the following motion was made, duly seconded, and unanimously passed as follows: "That Mr. Snidow and Mr. Gayner go to New York this night and put the whole matter before the Chatham & Phenix National Bank & Trust Co. and report".

On motion of R. C. Watts, seconded by C. M. Guggenheimer, and unanimously passed, the officers were instructed to close the Plant down at once if the above committee should not go.

There being no further business the meeting adjourned.

_[signed: N D Eller]__President

____[signed: W H Loyd]__Secretary