Madison County, NC Genealogy Society

All data provided by Jan C. Plemmons, with our eternal thanks!

Jan wrote: I am hoping that people will respond with comments and follow-up such as pictures, stock certificates, and general knowledge.

Have you ever wondered when certain things first happened in Madison County? While reading the Records of Corporations, filed in the Register of Deeds office, I came upon some very interesting corporations that may have changed Madison County forever. Just a quick note, please keep in mind, filing for corporation status does NOT mean the company, did in fact, do business. It states the intent to do business. Since there are no records available one can only assume the company did follow through with its plans and did conduct business as stated.

Bank of French Broad This is an amendment to the original (that I do NOT have) dated January 9, 1923. This amendment states that it is now going to include a savings department and surety and trust department. The following ten stockholders signed this document: A.J. Ramsey , W.D. Farmer (1), R.S. Ramsey (32), C.D. Stackhouse (14), R.L. Gudger (36), Wiley M. Roberts (19), R.M. White (6), S.B.Roberts (3), E.T. Worley (11), and J.J. Redmon (50).

Bank of Hot Springs gave Andrews Ave. in Hot Springs as the principal address January 3, 1905. Its purpose was to conduct both commercial and savings banking. In order to raise the $10,000 operating capital they sold 100 shares @100 each. The largest stockholders were from Johnson City, TN with a total of 50 shares. Madison County stockholders were : Hot Springs--Nicholson & Lance, B.D. Mc Daniel, Charles Burgin, Lillie B. & N.J. Lance, J.C. Rumbough, M.E. & P.D. Ebbs, P.L.Penland Barnard--M.F.Dorsey and Thomas Frisbee of Joe. Notice of Dissolution 10/8/1910

Bank of Mars Hill was organized October 20, 1916 and gave Mars Hill as the principal address. Its purpose was to (1) to do commercial banking business, (2) to do a savings bank business and (3) general business of banking. The $25,000 was to be raised by selling 250 shares @ $100 each. It opened with 50 stockholders representing Mars Hill, Buckner, Waverly, Paint Fork, Ivy, Stocksville, and Weaverville.

Capitola Manufacturing Company - Marshall - 9/20/1903. The purpose of this company was to (1) put up a mill to manufacture cotton, wool, and other fibrous products into yarn, cloth, and other textile products. (2) buy and sell real estate to the employees (3) manufacture of furniture of all kinds and (4) construct and operate a power plant for the generation of electricity to operate the mill and to provide lights for a city. The factory started with $ 45,000 capital but issued 3,000 shares to be sold @ $100 each. The three largest stock holders were from Marshall: W.J. McLendon (200), J.R. Swann (25) and J.J. Redmon (25). The document lists a total of 45 stockholders representing Allenstand, Cook Creek, Grapevine, Halewood, Kalamazoo, Little Pine Creek, Mars Hill, Marshall, Sexton, Spring Creek, and White Rock. Dawley's The Child That Toileth Not, a government study of child labor published 1912, includes this cotton mill. This book is very descriptive of his travels through Madison County, particularly the Laurel section, and includes some marvelous photographs of the county. It is a must read for the Madison County history buff.

Carolina Barytes Company, Stackhouse, filed corporation papers September 30, 1903 to (1) buy and sell mineral and timber lands (2) mine and manufacture barytes, talc and all other minerals and (3) buy and sell timber. The necessary $30,000 operating capital was raised by selling 3,000 shares of stock @ $10 each to the following three people: Albert G.Stillwell (1,500) of New York City; H.J. Moore (1,499) of Stackhouse and P.A. McElroy (1) of Marshall. June 12, 1907 the Carolina Barytes Company voted to increase stock from $ 30,00 to $ 40,000 and the stockholders increased to 8. The only familiar names to Madison County on the list were H.J. Moore and J.J. Drumheller. May, 14, 1910 Carolina Barytes Company voted to increase the common shares $60,000 to now have $100,000 in common shares. and they voted to issue $60,000 shares of preferred stock. The document lists 13 stockholders and all but H.J. Moore appear to be located in New York City.

Carolina Mineral Company, principal office in Marshall, with the purpose of (1) buying and selling mineral land (2) mining and manufacturing soapstone, talc, copper, iron, cement, clay and other minerals filed corporation paper work 3 different dates. March 6, 1901 they filed paper work stating capital stock worth $150,000 to be raised by selling 1500 shares @ $100 each was needed. June 10, 1901 they increased the capital stock to $250,000 and finally July 25, 1901 in New York City papers were filed to rearrange the stock distribution but the capital stock needed stayed the same. It does appear that not a single Madison County resident purchased stock in the company.

Christian Orphan's Home and School, Inc. of Dewdrop, October 25, 1906 filed corporation papers that indicated there would be NO capital stock," but shall be managed by trustees who have contributed as much as $50 to the institution." Its purpose was to provide for the physical and intellectual and religious needs of orphans and poor children of the Atlantic Highlands. Ira E. Cowling, Dewdrop, was to be the agent with H.F. Bayles, Estella, Pa and James S. Spears of Hamlin, Kansas as co signers for this corporation.

Citizens Bank with its principal office in Marshall and branches in Hot Springs, and Mars Hill filed corporation papers May 12, 1910. Its purpose to conduct both commercial and savings banking. It was agreed to begin business with $ 21,800 but issued 500 shares @ $100 each to raise the needed $ 50,000 capital. It began with 49 stockholders, all from Madison County. The entire county was represented and all the stockholders owned about the same number of shares. This is an excellent source of names and communities for 1910. It was also in 1910 that the Bank of Hot Springs closed its doors and all those stockholders appear on the Citizens Bank list.

Couper Memorial Presbyterian Church, Inc. Filed paperwork March 28, 1917 to have its office in Marshall and would have NO STOCK. It stated the following 3 goals: (1) to conduct religious worship according to the doctrine and policy of the Presbyterian Church, USA, (2) to hold and maintain a suitable house of worship and (3) to hold and maintain a suitable house for the pastor. This corporation was suspended June 1, 1949.

French Broad Handle Company, Barnard, July 27, 1912 filed corporation papers. Its purpose was (1) to manufacture handles, spokes and all kinds of wooden implements (2) buy and sell timber land (3) buy, lease, operate, and sell mineral land and mining claims, and (4) to buy, own, develop, operate, transmit and sell water and electric power. It was to commence with $10,000 but needed $25,000 operating capital. Five hundred shares @ $50 each were offered for sale. The first stockholders were all from Barnard: R.W. Walker (132) W.A. Walker (66) D.B. Linkous (1) and Robert Reese (1).

French Broad Railroad Company, Stackhouse, filed corporation papers May 28, 1919. The purpose was to operate for public use in the conveyance of person and property, the personal railroad of the Madison County Railway Company--from the Southern RR at Runnion, up Laurel River, over lands and a right of way belonging entirely to the Madison County Railway Co. to Belva, a distance of about seven mile. A sworn statement made in West Virginia stated that "..it is intended in good faith to lease, maintain and operate the railroad now being operated by the Madison County Railway Company and to construct, maintain, and operate extensions as deem necessary....." It was to operate only in Madison County and not to exceed 10 miles. The operating capital of $50,000 was to be raised by selling 500 shares @ $100 each. W.N.Garrett of Stackhouse was the only Madison County resident stockholder. The other five were from Huntington, W. Virginia.

G.C. Buquo Lime Company, Hot Springs, May 18, 1912 with the purpose of (1) buying, leasing, operating and working in lime deposits and (2) burning and manufacturing limestone. With $6,700 G.C. Buquo (65) Fletcher, NC, S. P. Burton (1) Asheville, NC and S.D. Holt (1) of Asheville, NC commenced the business. In order to raise the $15,000 operating capital 150 shares @ $100 were offered for sale.

H.J. Moore Company, Walnut, November 20, 1905. This was to be a general merchandise store to (1) own and lease mines and mineral lands (2) buy and sell stocks and securities (3) buy and sell timber lands. The capital stock of $ 1,000 was to be raised by selling 100 shares @ $10 each. Henry J. Moore of Stackhouse owned 40 shares while Albert G. Stilwell and S. Marshall Evans, both of New York City, each owned 30 shares. (These are the same men affiliated with Carolina Barytes Mines of Stackhouse.) The company was dissolved March 10, 1910.

Griffith Lumber Co. Was to has its principal office in Asheville in the beginning filed corporation papers January 20, 1923 stating its purpose was to purchase or otherwise acquire timber and mineral lands, operate saw mills and plane mills and to buy/sell lumber. Five hundred shares were to be sold at $100 each to raise the $50,000 operating capital. The three stockholders were from Asheville, with Lester Griffith being the principal holder with 40 shares. Dissolution papers were filed April 13, 1926 and it listed Runion as the office using Stackhouse P.O. address.

Highway Service Company, Inc of Mars Hill filed corporation papers March 20, 1925 and its purpose was to (1) own, lease and operate for hire all kinds of motor vehicles for transporting passengers and freight (2) buy and sell motor vehicles and all kinds of accessories for such. The papers stated it would start with $300 capital stock sold but needed $10,000 to operate. One hundred shares were sold @ $100 each. The three beginning stockholders listed Mars Hill as their address: A.E. Carter, Dell Woody and G.J. Thomas.

Home Mission Committee of the Presbytery of French Broad filed December 30, 1916 filed for corporation status with the sole purpose of promoting and fostering religion and education in North Carolina and elsewhere.

Hot Springs Brick Company gave Shaleville as its address but gave Hot Springs as the Post Office address. August 3, 1915. The purpose was (1) to manufacture for sale pressed brick, building and paving brick, terra cotta, tile and other materials which can be made from clay, shale, or stone. and (2) to mine and prepare for market mineral, ores, clay and stone. It was decided that business would commence with $300 but the would sell 500 shares of stock @ $100 each to raise the $50,000 capital stock. The three stockholders were: B.J. Nicholson (1), H.P. Rich (1) both of Hot Springs and James E. Rector (1) of Asheville.

Hot Springs Hosiery Mill filed corporation papers December 17, 1923 stating the following goals: to buy and manufacture men, women?s, and children?s hosiery and underwear, to buy and mfg. Sweaters, caps, legging, gloves, mittens, shaws, and knit goods, to mfg. Covert and deal in yarn, threads, and spun fabrics, to carry on general mercantile business, and to buy, sell and lease real estate. The needed $25,000 capital was to be raised by selling 500 shares @$50 each. Five Hot Springs businessmen were the first stockholders: G.C. Buquo (10), W.R. Ellerson (10), Ira Plemmons (10), Lon Brooks (10), and J.D. Hensley (5).

Hot Springs Hotel and Sanitarium Co. Hot Springs stated April 27, 1915 that they would build and maintain a sanitarium, build and maintain training school for nurses, and build and maintain hotels. The needed $50,000 would be raised by selling 500 shares @ $100 each but it would begin with $10,000. William M. Hastings (98), Carl H. Goodwin (1), and Henry B. Stevens (1) were the first stockholders.

Hot Springs Manufacturing Company, Hot Springs, April 18, 1905 incorporated to (1) mine barytes and other minerals (2) manufacture gas for lighting streets, houses and public buildings (3) buy and sell electric power. The necessary $ 12,000 capital stock was to be raised by selling 480 shares at $25 each. John Harrison (100) and H.W. Doroughty (100), both of Hot Springs and Frank Roberts (80) of Marshall were the first stockholders. November 12,1906 the papers were amended to increase capital stock to $25,000. Now the list of stockholders was totally different: J.W. Fisher (160), J.C. Tyler (168) J.E. Fair (60) and Auther Savage (52).

Hot Springs Mining Co. May, 26, 1895 Hot Springs. The stated purpose was to own and operate mines. The three beginning stockholders were Frances Shaw (65), J.D. Kerley (25) and Ralph H. Shaw (10).

Hot Springs Supply Co. of Hot Springs, filed corporation papers March 1, 1907. The purpose was (1) to wholesale and retail general merchandise (2) buy and sell lumber, tan bark, acid wood, and etc. (3) buy and sell real estate for mining. With $ 12,500 they would commence business but needed $ 25,000 capital stock to continue. The money was to be raised by selling 250 shares $ 100 each. Four Hot Springs men and one from Joe were to first stock holders. P.D. Ebbs (40), C.J. Ebbs (30) Thos. Frisbee (20) T.B. Ebbs (15) and T.F. Stamey (20)

Hot Springs-Crestmont Corporations, principal office in Hot Springs, gave its purpose to buy and sell real estate, to acquire by lease or purchase the Mountain Park Hotel in Hot Springs, and to erect, maintain, and operate bathing establishments. They stated the need for $1,000,000 capital stock to raised by selling 10,000 shares at $100 each but would start business with $3000. The three beginning stockholders were: G.H. Groom, Wilmington, NC (28 shares), J.E. Rector, Asheville (1), and J.D. Murphy of Asheville (1). These papers were filed December 7, 1923.

Ivy Telephone and Telegraph Company, four men filed corporation notice to have major offices in both Mars Hill and Marshall, April the 26th, 1904. These gentlemen decided it would take $125,000 to achieve their goal of providing telephone services to Marshall, Mars Hill and the surrounding areas but were willing to officially start the company when $2000 worth of stock had been sold. Each share was $25 value and each man bought 25 shares. The men were: Dr. J.H. Baird, Mars Hill; Lee B. Ramsey, Mars Hill; R.S. Gibbs, Mars Hill; and J.R. Swann of Marshall.

J. Wiley Nelson Co. Stated its main office would be in Marshall October 19, 1900 they would be wholesale and retail merchants. The needed $5000 would be raised by selling 50 shares @ $100 each. The first 4 stockholders were J. Wiley Nelson (30), J.J. Redmon (10), J.L. Nelson (5) and W.W. Zackery (5).

Laurel River Logging Company of Stackhouse was incorporated October 14, 1909. The purpose of the company was (1) cutting, logging, buying and selling timber (2) operating saw mills and pulp mills (3) generating and transmitting electricity for lighting and power and (4) operating telephone lines. The business started with $2500 but needed $10,000 to operate. One thousand shares at $10 each were to be sold. Anson Betts owned 248 shares and A.A. McQuide (1) were both from Stackhouse. J.B. Ramsey (1), Marshall, were the first stockholders. May 17, 1911 an amendment was filed to increase the total capital stock to $350,000. Now Harriett L. Betts was the controlling stock holder with 995 shares of common stock and 9,100 shares of preferred stock. October 4, 1920 the business was dissolved.

Laurel Telephone Company, May 6th, 1908, was formed with its office to be in the Carmen Post Office. They sold 100 shares @ $20 each to raise the needed $2000 operating capital. On this date 47 individuals has purchased enough shares to start the company. Alleghany, White Rock, Dewdrop, Big Laurel and Carmen were the post office addresses of the stockholders.

Limebrook Lime Company, office to be at Lime Brook (Madison County) and Riverton, Virginia. The purpose of the business was to (1) quarry and sell limestone (2) burn and sell lime (3) mine any of these: manganese, iron, clays, cement, or other minerals. The capital of $30,000 was to be raised by selling 3,000 shares @ $10 a share. The three stockholders: Samuel Carson (1000), J.E. Lent (50) and George Wm. Cone (50) all signed the corporation papers in Warren County, Virginia to be file in Madison County, NC. January 23, 1893

Lone Trail Bus Line, with it's principal office at Walnut, filed corporation papers March 20, 1925. Its purpose was to (1) own, lease, and operate for hire motor vehicles for transporting passengers and freight (2) buy and sell motor vehicles and all accessories for such. The papers stated it would start with $300 capital stock sold but needed $10,000 to operate. One hundred shares were sold @ $100 each. The three beginning stockholders listed Walnut as their address: F.H. Salts, L.R. Rector and Robert R. Reynolds.

Madison Bus Company, March 2, 1926, would have its principal office at Marshall but it may have additional offices. The purpose was to own, lease and operate for hire any and all kinds of motor vehicles for the transportation of passengers and freight, to opertate motor buss touring car and bus lines between points within the state. To buy and sell automobiles, trucks, motorcycles, tractors, gasoline, oil and all kinds of accessories. The necessary $25,000 would be raised by selling 250 shares @ $100 each. The business could start with $300 dollars. The three beginning stockholders were Frank Roberts (1), McKinley Ramsey (1) and H.E. Roberts (1).

Madison County Bank with its principal office in Marshall, filed corporation papers April 14, 1905, with its sole purpose to be general commercial banking. The necessary capital stock of $16,000 was to be raised by selling 160 shares @ $100 each. J.M. Gudger, Jr., Asheville, was the major stockholder with 40 shares. The 31 other stockholders represented Faust, Trail Branch, Barnard and Marshall. October 13, 1906, less than two years from starting dissolution papers were filed in Marshall.

Madison County Fair Association, office in Marshall, filed March 16, 1916, to conduct a fair for the promotion and encouragement of agriculture, education, and for the general welfare and development of the resources of Madison County. It was to begin with $1030 but stated it needed $25,000 to be obtained by selling 2500 shares @ $10 each. Fifteen Marshall business men invested in this project. (I did see a Fair Bulletin and it was a VERY big event. I was shocked by the number of judged events and the participation.)

Madison Light and Power Company, Marshall, September 29, 1911 stated its purpose was to supply electric current for lights and power. The # 10,000 operating capital was raised by selling 200 shares @ $50 each. F. Shelton and Frank Roberts of Marshall filed the corporation papers.

Madison Telephone Company filed corporation papers July 7, 1901 with the intent to install telephone lines and provide phone service from Marshall to the surrounding area. It started with $1000 capital and there were three stock holders: Thomas S. Rollins, Van Smith and William J. Weaver.

Mars Hill Wood and Clay Working Company gave Mars Hill as its principal address June 21, 1905. The purpose of the business was to manufacture loges and timber into house building materials. The $25,000 capital stock was to be raised by selling 250 shares @ $100 each. The following Mars Hill men and one Marshall man invested in this business: H.G. Fagan (3), G.W. Corn (3), A.F. Sprinkle (3), J.R. Sams (2), J.W. Anderson (2), and T.W. Ashcroft (2) of Marshall. This company was dissolved November 29, 1907

Marshall Milling Company filed corporation papers November 26, 1895, with its principal office to be in Marshall. The purpose of the company was that of general milling business. They were to purchase grain and sell flour , both wholesale and retail. It was decided to commence business with the capital stock of $6,000 to be raised by selling 60 shares of stock @$100 each. The company was owned by the following Marshall men, showing the # of shares owned by each: W.B.Ramsey (12), J.C.Pritchard (10), J.J. Redmon (12), M.W.Lance (10) R.V. Ramsey (10) J.R. Hardwick (3), M.A. Chandley (1), Bernard Ramsey (1), J.C. & Wade Redmon (1).

Marshall Realty Collection and Insurance Agency Marshall stated May 19, 1915 that they would (1) build and sell housing, (2) general collection of accounts, bills, and debts,(3) operate a printing business, and (4) sell insurance. This business would begin with $30 but needed to raise $10,000 by selling 1000 shares @$10 each. W.B. Ramsey (1), Guy V. Roberts (1) and Roberta Rogers (1) were the first stockholders.

Marshall Woodworking Company, Marshall, filed for corporation papers to (1) do general woodworking business (2) buy and sell lumber and (3) manufacture and supply building materials of all kinds from timber. Although it was decided $ 25,000 capital was needed they agreed to start business with $ 2,000. Stock was sold 250 shares @ $100 each. The four stockholders all gave Marshall as their address. J.J.Redmon (5) W.J. McLendon, Jr. (5) Dudley Chipley (5) and C.B. Mashburn (5). The filing date was June 6, 1906. Dissolution papers were filed October 5, 1912.

Masonic Home Co., Inc., Marshall, March 12, 1925 filed the paper work to build a lodge building for Masonic Societies and its auxiliaries in Marshall. It made provisions to rent the ground floor to outside businesses. It would begin with $4700 but stated it needed $25,000 to be raised by selling 2500 shares at $10 each. The first 6 stockholders were all from Marshall: J.M. Baley (100, W.A. Sams (10), S.B. Roberts (10), J.H. Hutchins (10), F. Shelton (10), and A.W. Whitehurst (20).

McCabe Lumber Company, Hot Springs, October 10, 1906 was organized in Tennessee and listed NO stockholders even though it needed $50,000 operating capital. They stated Henry Speigle would be the local agent for the company.

Moore, Davis, Stuart Co., Inc. Marshall May 2, 1923. Three Marshall men were the stockholders: C.S. Moore (20), Garfield Davis (20), and C.R. Stuart (20). The purpose of the business was to do general mercantile business both wholesale and retail, to buy and sell good, wares, fertilizers, country produce, and merchandise of every description, to buy and sell all kinds of feed stuff and all other farm products, to make advancements to those engaging in cultivating the soil, to take mortgages upon real and personal property and agricultural liens on crops, and to by and sell coal and all types of fuel. They were going to raise the $25,000 capital needed by selling 250 shares of stock @ $100 each.

Mt. Park Improvement Co. Was headquartered at Hot Springs. They stated many purposes for business but the first two seemed far away from the third. To own and sell mineral lands and to own and sell timber lands were the first two stated and the third was to own and operate hotels. The three stockholders were J.F. Miller (2000), H.W. Foss (2000) and John Leary (1000). The papers were filed April 10, 1890.

Mountain Park Hotel Company of Hot Springs filed corporation papers September 23, 1901. The purpose of the corporation was (1) operate hotels (2) conduct one or more sanitariums (3) own and operate electric lights and ice manufacturing plants. To raise the needed capital stock of $ 25,000; 250 shares of stock was sold @ $100 a share. All three beginning stockholders, Howell, Arthur, and Marion Cobb, gave Durham, NC as their address.

Narrgansett Lumber Company: Frances Rebecca Shaw (65 shares), Gertrude Shaw (10 shares) and John D. Kiley (25 shares) @ $100 a share, raised the $10,000 operating capital for the Narrgansett Lumber Company. The principal office was to be at Hot Springs and the purpose of the corporation was the buying and selling of lumber, purchasing timber land, and selling hardwoods. July 9, 1895.

Plemmons and Huff Company, December 20, 1908, used Hot Springs as the principal office. The purpose was (1) to acquire, manufacture, buy, sell and generally deal in telephone instrument, machines and apparatus (2) to construct, build, erect, operate and maintain telephone stations and plants for transmission (3) to rent telephone instruments to individuals for a fee. Three hundred shares @ $10 each raised the needed $3,000 capital stock. The three beginning stockholders were: J.B. Huff (25) Bridgeport, TN, Ira Plemmons (20) and W.H. Plemmons (8) both of Hot Springs.

Shale-Clay, Brick and Tile Company was located at Ottinger's Chapel, about two miles west of Hot Springs. August 30, 1913. It was agreed to commence with $10,000 but needed $50,000 operating capital which was to be raised by selling 500 shares @ 100 each. The purpose was (1) to manufacture for sale pressed brick, building and paving brick, terra cotta, tile roofing, and other building materials which can be made of clay, shale or stone (2) to manufacture and deal in earthenware, porcelain, and china (3) to manufacture, export, import, buy, sell and generally deal in slate, tile, marble, lime, plaster, cement, fireproofing brick and building materials. James E Rector (30) was the only Madison stockholder with John L. Jenson (25), H.A. Lindsey (15) and D. Harris (30), all from Asheville.

Smoky Mountain Realty Co. Gave Walnut as its office and filed December 31, 1926 to do business as: (1) to buy and sell land (2) lease and mortgage land and (3) to build apartments. The necessary $50,000 capital was to be raised by selling 500 shares @ $100 each. The three stockholders were S.R. Freeborn (3) Kesler Walton (1) and M.M. Chesrown (30).

Spill-Corn Lumber Company gave it's address as Big Laurel December 19, 1921. Its purpose was to (1) conduct general lumber and timber business (2) manufacture lumber of all kinds, operate saw mills and kilns (3) build roads and flumes to make timber marketable and (4) purchase , buy and sell all things necessary to conduct general lumber business. The $50,000 capital stock was to be raised by selling 500 shares @ $100 each but it would commence business with $16,000. The four beginning stockholders were: B.F. Allen (40) Big Laurel, J.C. Kimball (40) Knoxville, D.A. Isely (40) Morristown and C.H. Bunch (40) of Morristown.

Spring Creek Lumber Company, Hot Springs, February 12,1922 formed with the purpose of (1) buy and lease timber lands (2) manufactory lumber and (3) buy and sell timber. It was agreed to commence with $5,300 capital but needed $ 10,000 to continue in business. There were 100 shares @ $100 each for sale. The three beginning stockholders were: James W. Difeuderfer (25) Phil., Pa, Thomas Frisbee (25) Hot Springs and Lon Brooks (3) of Hot Springs.

Spring Creek Telephone Company incorporated March 22, 1907, was to operate from Hot Springs. They were to construct telephone lines and sell phone services from Hot Springs and into Haywood County. The total operating capital was $5,000 to be raised by selling 500 shares at $10 each. Business would commence when $1275 had been collected. There were 43 share holders to start this phone company. The stockholders represented Hot Springs, Sandy, Bluff, Kind, Joe, Spring Creek, Trust, Lee and Luck communities.

Walnut Mercantile Co. Of Walnut filed January 29, 1926 to (1) conduct general mercantile business with dry good, groceries, both wholesale and retail (2) to maintain and operate hotels and boarding houses (3) to conduct general real estate business. The necessary $100,000 capital was to be raised by selling 1000 shares @ $100 each but would start with $23,000. Three stockholders started the business; Grace J. Locke (110), Edward E. Locke (110), and E.L. McEniry (10).

Walnut Telephone Company, April 5, 1907, the fourth telephone service filing corporation papers by three McDevitts: Frank, Paul, and A.J.. They declared they would provide telephone service to Walnut and the surrounding area. They offered 100 shares of stock at $20 a share for operating capital.

West of Asheville, Inc. Marshall October 31, 1925 stated 4 goals: (1) develop lands (2) operate and maintain electric lighting and power plants (3) operate and maintain telephone lines (4) operate a general store. The necessary capital of $100,000 was to be raised by selling 1,000 shares at $100 each. The three beginning stockholders were: Guy V. Roberts (10, S.B Roberts (10), and B.W. Gahagan (10).

Western Carolina Printing Company, Marshall, March 19, 1907 formed a corporation to publish a newspaper weekly, semiweekly or daily and to do general printing business. The $2,500 capital stock needed was raised by selling 500 shares @$5. each. The 19 stockholders represented Marshall, Hot Springs, Stackhouse and Revere.

Early Corporations