Dora Mills company, Red Springs, with authorized capital stock of $600,000 and $150,000 subscribed by H. Grantham, B.W. Townsend, W.J. Johnson, W.J. Council, J.A. Singleton and W.E. Garrett, all of Red Springs, was granted a charter Friday by the secretary of state at Raleigh.
This company is successor to the Red Springs Cotton Mill company, the property of which was purchased at forced sale in Lumberton on January 14 by Mr. Hiram Grantham, representing himself and the other six directors, who were endorsers of the mill’s notes in the sum of $180,000 and were forced to bid the property to protect themselves. All other stockholders were given the opportunity to go in with the directors on the same basis. The mill has a modern plant and is understood to have been operated without loss, though at little profit, during recent months.
From the front page of The Robesonian, Monday, Feb. 15, 1926
newspapers.digitalnc.org/lccn/sn84026483/1926-02-15/ed-1/seq-1/
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