5 men from Wheeling & Bridgeport to organize a joint stock glass company for Cadiz

Glass Works Project.

The glass works project is being quietly worked up at this place during the present week with some prospects of success. The proposition made by the five men from Bridgeport and Wheeling, is, that they will organize a joint stock company, according to law, with a capital stock of fifteen thousand dollars, will purchase grounds and build a furnace at this place, and make every preparation necessary for the manufacture of hollow glass ware, and when thus completed and ready for work the citizens of Cadiz are to give said company, as a donation, five thousand dollars. The [sic] They also agree, as a corporation, to run said glass works for the term of five years, and if the works should remain idle continuously for any six months during the five years, they are to become the property of the citizens donating the five thousand dollars.

The five gentlemen have signed the above proposition with the condition that there is to be no obligation on their part until the five thousand dollars shall be pledged in good and collectable subscriptions, and the effort is therefore being made at this time to secure the subscription of that amount of money. Up to Wednesday morning subscriptions had been secured in sums of one, two, and three hundred dollars, amounting in all to fifteen hundred, dollars, but of course this is a mere beginning.

There are objections raised by some persons to giving the five thousand dollars as a donation, while on the other hand others prefer to give money, as a donation rather than take the responsibility of being stock holders.

It is also claimed that the article signed by the five gentlemen does not sufficiently bind them to invest the full amount of fifteen thousand dollars in the works, but as to that, the project is as yet only in an experimental stage, and before any obligations are assumed a new and more definite contract can be made out. Of course Cadiz does not want to pay five thousand dollars without knowing exactly what is to be received for it, but there is no reason to doubt that the gentlemen proposing to build the works mean business, and are ready to comply with any reasonable conditions.