Publication: The Victor Herald
Victor, NY, United States
Victor Secures Insulator Factory
Supplies $31,000 of Capital and a Site -- Organizers of Victor Insulators, Incorporated, Are Men Well and Favorably Known.
FACTORY TO BE READY FOR PRODUCTION BY NOVEMBER 1
Old Man Depression was enthusiastically chased out of Victor, Thursday night, when it was announced at a meeting in the Village Hall that citizens of Victor had insured the establishment of a new insulator factory in Victor by subscribing for 310 shares of stock, valued at $31,000. The entire amount was secured in three days, following a public meeting held on Monday afternoon at which the proposition was fully explained. Victor was asked to subscribe for only 250 shares and to furnish a site for the proposed factory. Victor responded by going over the top by $6,000, and a gift of a site is assured.
Other financing of the new industry is provided by men who have had long experience in the manufacture and sale of insulators and who are well known in Victor, they having held executive positions in the Locke Insulator Corporation while it was operating its plant here, and afterward in Baltimore.
Organizers and large share-holders in the new industry are Bentley A. Plimpton, Kent A. Hawley, George H. Schoenthaler and Arthur G. Benard. All were for several years employed by the Locke corporation, Mr. Plimpton as sales manager, Mr. Hawley as chief engineer, Mr. Schoenthaler as chief draughtsman, Mr. Benard as plant superintendent. Mr. Plimpton, as is well known, formerly resided in Victor. Later he moved to Canandaigua and thence to Baltimore, where he has since lived. Mr. Schoenthaler also resided here for a time and returns from Baltimore. Mr. Hawley lived in Canandaigua, while employed by the Locke corporation in the Victor plant. The home of Mr. Benard is in Rochester. He was plant superintendent in Victor when the Locke plant was closed, when he went to Baltimore.
The new corporation is to be known as Victor Insulators, Incorporated, and is formed under the laws of the Stte of New York. Stock of the corporation will consist of 2,500 shares of non-assessable, no par value, common stock, for which the incorporators will pay $100 per share. Only $106,000 worth of stock is to be immediately sold, the balance to remain in the treasury.
Construction of the new plant will be begun next week. It is expected that it will be in production by November 1st of this year and will employ from the start between 60 and 80 men, aside from the office force. A market for its entire product is already assured, according to men who will be active in the management of the business. The site has not yet been definitely chosen, but will be within the village, probably along the Auburn branch of the New York Central.
On the committee which so successfully conducted the stock subscription campaign are former County Treasurer Homer E. Snyder, Mayor James F. Burns, former Mayor Edgar B. Case, George W. Higinbotham, Louis A. Rugg, R. Leslie Hulbert, E. T. Malone, Carl D. Smith, Flor Malone, Leslie G. Loomis and W. F. Keating.
HOW THE JOB WAS DONE
A little more than two weeks ago, Mayor James F. Burns received a letter from Mr. Plimpton in which he stated that he and others were contemplating the establishment of an insulator factory and were considering various locations. He said he had read in The Victor Herald that Victor was seeking industries and wondered if the people of the village would be interested in the proposal of himself and associates.
Mayor Burns replied that Victor would undoubtedly be interested and invited Mr. Plimpton and those associated with him to come to Victor, present their proposition and inspect possible sites. They came on Saturday of last week and were met by several citizens, who immediately became enthused by the proposition made by the visitors.
Monday afternoon, as has been stated, the proposition was outlined before a gathering of interested citizens. Appointment of a committee to make a canvas for stock subscriptions was the next step.
This committee went into action immediately. Victor owes it a lasting debt of gratitude for its speed and efficiency. Thursday night, the final report of its activities was heard and Victor was told that a new industry had been secured, which will give work to many men now unemployed and go far to insure the revival of prosperity in the village. It was quick work and splendid work.
Success of the campaign arose from four factors: Determination of citizens to work themselves out of the depression; local knowledge of the insulator business; confidence in the men who were proposing to establish the factory, and the self-sacrificing, public-spirited efforts of the committee.