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IMPORTANT MEETINGS.' [s' [ Business of Woolen Mills and Insane Asylum,_ Electric iwght fraxcihse., J It is SitH Ut be Worth S.VtJOO-Ccw-tract I.et ftip it Barn at theInsane Asylum.A meeting of the stockholders of the Provo Woolen Mills, was held at the Meeting House this morniii*. f |President A. O. Smoot stated that the object of the meeting was to consider the electric light question. The ile-mand lor cloth manufactured by the institution was more than the supply. It would be necessary to run two sots of bauds and in order to do this it would be Advisable to u?e electric light, Vpoti investigation it was found ilmt tlie articles of ineoiporj tlon did not permit any brats clung out in any 01 her business This uiee i-ig had therefore been called for the purpo e %*i changing the artSr-1^ of agreement, in order that the eompan ’ might lewdly op* rate under the «Jeetrtc light fmnetiise. An outside source lt;«f revenue would also he created bv tins franchise.In answer to a query from, one of thestockholders, President Smoot stated that the otat or die plant would he ten or twelve thousand dollars, Mr, Ssmofc further stated that the directors. of the company had secured this franchise for the company am! they wanted the company to have iu If Urn stockholders, however, do not want the franchise* it can readily Le sold for *5,000.Teter Stubbs moved that Article 4 of the article of agi cement he m amended as to include the manufacture and disposal of electric light by the company,Supt. iteed Smoot stated that during nine .months of the year the light can be run by water. A good engine was already op hand, which was not uwd during! he night time. Seventeen arc lights had been contracted for by Provo city. This leaves thirteen arc lights and five hundred Incandescent lights to ho tak-e?_^y Private parties. On the first day of March of this year,for the first time in its history, Provo Woolen Mills were out of debt, hut at present it would benecessary to borrow money to establish the plant- In ten years from now Mr, Smoot expected that the electric light business would be worth more than the entire woolen mill business,Mr. Tanner moved that three tellers be appointed by the cbair to count the votes on the question, Carried*The chair appointed Messrs.-T. W. Bean, Peter Stubbs and Myron Tanner as tellers.After counting the votes present* and those represented by proxy, It was announced by the tellers that two-thirds of the stock was not represented.A recess was taken until ^ o'clock,In the afternoon a number of other Bbare3 of stock were represented and the tellers reported that 3179# votes had been oast in favor of the motion. This constitutes over two thirds of the stock. The report was adopted.Meeting adjourned sine die.
Newspaper Details
Provo Utah Enquirer
Provo, Utah, US
Fri, Jul 11, 1890
Page 3
Full Page
Clipped by
Melody S.
07 May 2025
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