Stockholders' Meeting,
Lynchburg Glass Corporation - February 2, 1925

This meeting was a combination of the Annual Meeting postponed from January and a specially called meeting to approve an issue of $75,000.00 in bonds to provide needed working capital.

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).

[Stockholders' Meeting]

A meeting of the stockholders of the Lynchburg Glass Corporation was held in the Directors' Room of the Chamber of Commerce, in the Lynch Building, at the corner of Ninth and Main Streets, in the City of Lynchburg, Virginia, on Monday, the 2d day of February, 1925, at 11 o'clock A. M., pursuant to a call by the Board of Directors to take action upon a proposed issue of Seventy Five Thousand Dollars ($75000.00) of bonds of the corporation and also as the annual meeting of the stockholders of the said corporation.

Upon motion duly seconded John Victor was unanimously elected Chairman of the meeting and W. H. Loyd Secretary. Upon a call of the roll of the stockholders it was ascertained that there were present in person the holders of five hundred and ninety (590) shares of the common stock of the corporation. The Secretary readh [sic] to the stockholders the following notice of this meeting, which notice had been given to each of the stockholders of record by mailing it to him addressed to his Post Office nearest his place of residence as it appears on the stock books of the corporation more than ten days prior to the meeting:

"To the Stockholders of the Lynchburg Glass Corporation:

You are hereby notified that a meeting of the stockholders of the Lynchburg Glass Corporation has been called by the Board of Directors of the corporation to be held in the Directors' Room of the Chamber of Commerce, in the Lynch Building, corner of Ninth and Main Streets, in the City of Lynchburg, Virginia, on Monday, the 2nd day of February, 1925, at 11 o’clock A. M., for the purpose of taking action upon a proposed issue of $75,000.00 of bonds by the corporation, the payment thereof with interest to accrue thereon to be secured in such manner and upon such terms as the stockholders at the said meeting may by resolution prescribe, and you are further notified that the annual meeting of the stockholders of the said corporation will be held at the same time and place.

A form of proxy is herewith inclosed [sic]. You are requested to fill this out and mail it to the corporation at once. Your Presence in person at the meeting is desired, but in order that the officers may be assured of a quorum, you are urged to fill out and return this proxy at once. The proxies of such of the stockholders as are present in person will, of course, not be used.

(signed) W. W. Loyd, Secretary

Lynchburg, Virginia,
January 20, 1925."

[p. 2] The Chairman appointed R. C. Watts, D. H. Dillard and W. H. Loyd a Committee on Proxies, and this committee reported that there were represented by proxy at the meeting six hundred and fifty (650) shares of the common stock of the corporation. This report of the Committee on Proxies was unanimously adopted. Whereupon the Chairman declared that there were represented in person and by proxy twelve hundred and forty (1240) shares of the fifteen hundred (1500) shares of the common stock of the corporation, this being the only class of stock having voting rower, and that the meeting having been regularly constituted and more than a quorum of the stockholders being present or represented at the meeting, it was open and ready for business.

The minutes of the last meeting of the stockholders were read and approved. The President made his report in writing and this was ordered filed.

Upon motion duly seconded the following were elected directors of the corporation for the ensuing year to serve until the election and acceptance of their duly qualified successors: N. D. Eller, W. H. Loyd, J. William Gayner, C. N. Guggenheimer, C. L. Snidow, John Victor, J. D. Owen, . R. C. Watts and D. H. Dillard.

Upon motion of H. M. Sackett duly seconded by R. C. watts, the following resolution was unanimously adopted:

"RESOLVED, that for the purpose of providing funds for general corporate purposes the Board of Directors of this corporation be and it is hereby authorized to issue bonds of the corporation in the sum of Seventy Five Thousand Dollars ($75, 000.00), to bear interest at the rate of six per centum (6%) per annum from the date thereof, the said bonds to be issued in such denominations and to be payable at such times and places as to principal and interest as the Board of Directors may deem best; and

RESOLVED FURTHER, that the said Board of Directors be and it is authorized to secure the payment of the said bonds by the execution by the proper officers of the corporation to a trustee or trustees, to be selected by the Board, of a deed of trust in such form and with such provisions as the Board of Directors may deem best, upon (1) the real estate in the City of Lynchburg, Virginia, owned by the corporation (this being all of the real estate owned by the corporation) consisting of 5.072 acres of land on Fishing Creek, Hudson Street and the right of way of the Southern Railway Company, upon which is located the plant of the corporation, and (2) all and singular the buildings, machinery, equipment, fixtures, tools and furniture of the said corporation whether now located upon the premises aforesaid or elsewhere; and

RESOLVED FURTHER, that the said Board of Directors be and it is hereby authorized and directed to hypothecate or sell the said bonds upon such terms and at such prices as

[p. 3] the said Board may deem best and to deliver the same on behalf of the corporation."

Upon motion duly seconded the action of the Board of Directors with reference to a change in the statement of the corporation taken at the meeting of the Board held on January 24th, 1925, was ratified and approved.

Upon motion duly seconded the meeting was adjourned to Thursday the 12th day of February, 1925, at the same place and hour.

____________[signed: W H Loyd]__Secretary.

Approved:

____[signed: John Victor]______Chairman.