Directors' Meeting,
Lynchburg Glass Corporation - October 19, 1923

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 (parts of the scan are distorted).

[Directors' Meeting]

The meeting of the Directors of the Lynchburg Glass Corporation was held in the Director’s Room of the Peoples National Bank, Friday, October 19th., 1923, 11:00 A. M., with the President in the chair and the following present:

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

The minutes of the last meeting were read and approved.

The President made the statement that Mr. Gayner reported to him, as president, that he was unable to secure the securities as listed and reported at the former meeting, aggregating a total of $63,860.00. This being the amount of securities offered by Mr. Gayner at the Director’s Meeting held September 4th. 1923, as collateral for note he proposed to give the Company for $22,500.00 in settlement of the first and second call on his subscription to $50,000.00 of the Capital Stock of the Lynchburg Glass Corporation.

Mr. Gayner, being present, confirmed the statement made by the President, and stating that, in lieu of the stocks listed, he submitted as security for said note; 404 shares of the Common Stock of the Gayner Glass Works and 74 shares of the Preferred Stock of the Gayner Glass Works and 375 shares of the Lynchburg Glass Corporation Common.

After a general discussion of this proposition made by Mr. Gayner, and a number of questions to Mr. Gayner by those present, the following motion was made by Mr. J. D. Owen and seconded by C. M. Guggenheimer and unanimously passed: that the Company accept Mr. J. W. Gayner’s note for $22,500.00, payable December 31st. 1921, in settlement of the first and second assessments of 50% and 25% respectively, to his subscription for 500 shares of the Lynchburg Glass Corporation Common Stock as collateral; he to deposit with the Treasurer of the Lynchburg Glass Corporation, 404 shares of the common stock of the Gayner Glass Works of Salem, N.J [handwritten addition: "; and 74 shares of the Preferred Stock" with ditto marks indicating "of the Gayner Glass Works of Salem, N.J."] totaling 478 shares at par value at $100.00 per share and 375 shares of the Lynchburg Glass Corporation Common Stock at par value of $100.00 per share: all to be duly assigned to the Lynchburg Glass Corporation as collateral, and the vote was unanimous.

[ p. 2] After a general discussion of the business, progress made in getting started, etc, there being no further business, the meeting adjourned.

_________[signed: N D Eller]___________
President.

____[signed: W H Loyd]___________
Secretary.