mm
Wt
Itoniitif ul, Progressive, Sub
Joining tlio Greater
stnntlnl Honcstlnlc. AH ivork for
a Greater lloncsdnlc.
Ilonrtl of Trade is Exprcssl
UiiRticNs to Iloost Honesilnl
70th YEAR NO. 48
HONESDALE, WAYNE CO., PA., FRIDAY, JUNE 14, 1912.
1L
PRICE 2 wJNTS
GURNEY
CTRIC ELEVATO
RECT
Board of Trade and Honesdale Banks Secure This Mew Industry for HonesdaSe
TO EMPLOY
ABOUT
350 MEN
The Factory Will Be Located On a Five-Acre Tract
On South Main Street Work of Erecting
Building and Grading Will Begin At Once
How Great Acquisition Was Secured and What
It Means for Honesdale.
Through the instrumentality of the Greater Honesdale
Board of Trade and the four banks of Honesdale, the Gurney
Electric Elevator Company, doing a business of a million and a
half dollars per vear, lias been persuaded to locate in Honesdale.
COMMITTEE APPOINTED RV THE HOAItl) OK TRADE WHICH
SECl'ltED THK Gl'RNEY ELECTRIC ELEVATOR COMPANY.
L. RLUMENTHAL.
RORERT .1. MUKRAY.
To this committee great (honor !s duo. If Jt were not for their un
failing efforts this large Industry might have located elsewhere. Wher
ever they went Messrs. Blumenthal and Murray always bore the banner of
"iHonesdalo" ahead of them. By perseverance they won the battle
against other cities. The laurels belong to them and it is with great
pride and honor that we place that symbol of victory over their heads as
shown In this picture. They performed their duties In a meritorious man
ner and are deserving of universal praise.
BOARD OF TRADE ACTIVE.
The Board of Trade has added another to the great indus
tries of Honesdale, that of manufacturing high speed electric
passenger elevators on a large scale. Messrs. L. Blumenthal
and Robert J. Murray, the special and executive committee ap
pointed last August by the Greater Honesdale Board of Trade,
closed the transaction this week, which involves the erection of
one of the largest and most modern iron working establish
ments in the country.
To secure this new industry it necessitated raising $200,
000. Honesdale's banks got together and subscribed for an
issue of $170,000. The Board of Trade has pledged to raise the
balance of the issue, $30,000. The bonds are in denomination
of $500 each, 5 per cent, first mortgage, interest to be paid
semi-annually.
That this large and successful establishment found Hones
dale a favorable place to locate their plant is a fact which has
afforded highest gratification to the gentlemen who have promi
nently identified themselves with the work of creating Greater
Honesdale. The Gurney Electric Elevator Company, of which
Howard Francis Gurney is president, William B. Holmes, vice-
president, and r. S. Merritt, treasurer, are impressed with
Honesdale. They were quick to say that lower Main street was
the ideal site for their factory after several others for various
reasons proved inadequate. Honesdale was selected because
the banks are liberal, the railroad facilities meet the most exact
ing requirements, labor conditions are better here, the town is
not far from the source from whence raw materials are derived,
and the markets where the finished product is sold; the com
munity as such, in the character of its citizens in general and
working people in particular, is high class; the financial situation
here, and the spirit in which the banking business is conducted,
commend themselves to men of large affairs.
There is another phase of the matter which is significant.
When Mr. Gurney learned that the desirable site shown him
was the company's at a very low figure, he was satisfied. He
took this to be an indication of a broad, progressive spirit that
exists here, and it strongly appealed to him and predisposed
him as well as members of the Gurney Electric Elevator Com
pany very decidedly in favor of the town as a whole. The com
pany desired to locate its plant in a place which offered great
inducements for the conduct of their business, and also to be
come a part of a progressive, broadgauge community, and they
concluded that Honesdale and its people filled the bill.
The site selected by the Gurney Electric Elevator Company
comprises about five acres. About two acres, owned by the
Delaware and Hudson Railroad company, located west of Main
street from Fourth street south to the old guard-locks, taking
in the old tow path and part of the canal basin to the Delaware
and Hudson railroad tracks, has been acquired. Also all prop
erties on the east side of Main street below Fourth street to
within 180 feet of Fourth street at the intersection of Main
street as follows:
Thomas McKenna, 50x100 feet, two lots to the Lackawax
en river, $2,500.
C. L. Eck Estate, 50x165 feet, to Lackawaxen river, $3,200. 1
William Polt. 50x165 feet, to river, $3,000.
Thomas Fincrty, 50x165 feet to river, $2,000.
Mrs. Annie Griffin, 19x80 feet, $1,500.
It becoming necessary to erect the main factory in the cen
ter of the plot of ground, Main street necessarily had to be
used. This called for the closing of the entire street south of
the northern boundary of the Gurney line, which is 180 feet from
the corner of Main and Fourth streets. The matter was
presented to court, the street was closed and turned over to the
Gurney Electric Elevator company after the town council had
granted permission. South from Fourth street to the Gurney
line the present Main street will be cut down to 30 feet. The
new factor)' will come to the line of the Van Keuren property
now owned by William Ruppcrt, of Corning, N. Y.
On July 25, 191 1, the Greater Honesdale Board of Trade
received information that H. F. Gurney, president of the Gur
ney Electric Elevator Company of this place, was anticipating
making a change in the location of his factory here. Mr. Gurney
had just returned from Bridgeport, Conn., where he had re
ceived flattering inducements to locate his establishment. The
secretary of the Board of Trade informed President F. W.
Krcitner of the proposed change and a special meeting was
called that evening. The proposition was thoroughly discussed
and on motion of J. B. Nielsen, seconded by S. T. Ham, it was
carried that L. Blumenthal and R. J. Murray comprise a com
mittee to ascertain what could be done for the Gurney Electric
Elevator Company of this place. The committee was empow
ered to select its third member and take any other steps that
it might deem necessary to retain this industry.
The committee got busy at once. It met F. S. Merritt,
treasurer of the company, in Mr. Murray's store, and arranged
for an interview with Mr. Gurney in his office. He told the
Board of Trade's representatives that the concern was too crowd
ed. That there was not sufficient room to enlarge their plant
in their present location, and that it was very expensive to draw
the raw material from the cars and the necessary handling of the
machinery in the shop and then deliver the finished product to
the cars again. This item alone he claimed costs the company
$25,000 annually extra expense, which would go a great ways
toward a model plant. He told the committee that he desired
a site along the railroad, containing about six acres of land and
not over fifteen minutes' walk from the town. If able to locate
his industry in such a place, Mr. .Gurney told the committee he
would consider Honesdale first aTHong all other locations.
SITES INSPECTED.
The first site selected was near St. John's Roman Catholic
church. Delaware and Hudson engineers were consulted; and
placing the property in shape, grading and building a retaining
wall, which the Delaware and Hudson demanded, would cost in
the neighborhood of $30,000. The plan was immediately aban
doned. The next site was the Law Estate and Delaware and
Hudson property, situated in Texas township, back of the Erie
pockets. The heirs of the estate placed a nominal price upon
the land and corroborated with the committee in every particu
lar. This land was accepted by Mr. Gurney until three weeks
ago when the engineer's final report was received, and it was
found necessary to make an expenditure of about $25,000 for
grading and retaining walls. Mr. Gurney did not feel justified
in making improvements to this amount if the factory were
built thereon. That site was then not considered as being among
the prospective locations for these reasons. The Board of
Trade committee then took Mr. Gurney to the Frcethy lot, East
Honesdale, located near the Erie depot at that place and along
the tracks of that railroad. There was plenty of land in the vi
cinity, but it did not meet with the approval of Mr. Gurney ow
ing to the distance from Honesdale and the amount of grading
that necessarily would have had to be done. It was accepted
tentatively, but rejected owing to its being too far from the
town proper. The next location visited was the silk mill flats.
Dexter, Lambert & Company offered to sell at liberal terms,
but a string was attached to the property which did not meet
with the approval of the committee that the Erie railroad re
tains the privilege of coming through the property at any time
with their tracks, condemning what buildings that might be
erected thereon and take full possession of same. No satis
factory agreement could be made with the Erie, consequently
the site was also abandoned. The committee, at a loss of a lo
cation, finally suggested lower Main street, which for obvious
reasons, was the site selected.
THE BOND ISSUE.
The $170,000 of the entire bond issue of $200,000 has been
iibIe "Jb
TBs B
H. F. GURNEY,
The President and Peneral Manager, was. graduated from
Stevens InstituTe of Teclmology in 1802. Since that time he
has been connected with the manufacture and installation of
all kinds of elevator apparatus. For many years he was
General Superintendent of the Otis Elevator Company, and
all the subsidiary companies owned by that corporation.
underwritten .by the banks, but can become a popular invest
ment if the people desire. The remaining $30,000 of the issue
vvill be offered to the people through a committee of the Board
of Trade, which amount the Board of Trade pledged itself to
raise. Every public-spirited citizen of the town ought to take
advantage of this investment. The very fact that the banks sub
scribe so liberally is evidence enough for the most skeptical that
the bonds are Ai. Invest your money where you can see it.
It is the intention of the Gurney Electric Elevator Company to
have the bonds mature serially, extending through a period of
fourteen years. The money is to be secured by first mortgage
on the real estate, buildings, plants and other property of the
company. The proceeds of the loan are to be applied to the
purchase of ground, erection of buildings and installation of new
equipment. A bond soliciting committee appointed by the
Board of Trade, consisting of William O'Connell, treasurer of
the Gurney Electric Elevator Company, New York City, as
chairman, William J. Ward, assistant cashier of the Wayne
County Savings Bank, C. A. Emery, cashier of the Farmers and
Mechanics Bank, A. M. Leine, druggist, L. Blumenthal and R.
J. Murray, will call upon the people of Honesdale and vicinity
in a few days for their respective subscription, when it is hoped
all who can take one or more bonds will do so.
The Wayne County Savings Bank, Honesdale National
Bank, Honesdale Dime Bank and Farmers and Mechanics Bank
agreed to take $170,000 of the bond issue in proportion to
their capital, surplus and undivided profits and deposits, the
Board of Trade reserving $30,000 for the citizens of Honesdale
who may desire them for investment, to subscribe for the bonds
at the same terms under which they arc accepted by the bank-,
in any amount up to the total amount of their proportionment
of the issue.
0
BLOCK PLAN SHOWING OUTLINE OP BUILDINGS OP THE PROPOSED GURNEY ELEOTRIO ELEVATOR COMPANY.