Tuesday, October 30, 2007

Marchant's vision

By his own dogged determination Henry Clay Marchant had chiseled a niche in Charlottesville for a new wool manufacture. Oriented primarily toward a local market, it produced the type of cloth in which Northern competition was least severe. But Marchant's vision was broader; an expanding market and a larger plant were the goals of the young, dynamic Marchant. Once again he approached Charlottesville friends for help. This time he presented an impressive accomplishment, demonstrating not only the feasibility of a woolen mill but his own financial acumen as well. And this time he met with a ready response. The result was a new company organized under the charter of December, 1868.
The granting of this charter inaugurated a new era. The woolen mill, finally freed from the limitations imposed by the resources of a single owner, was rapidly molded into the corporation which exists to this day.--Harry Poindexter

Labels: ,


Post a Comment

<< Home