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Topic: Keely Chronology Stack
Section: Expressing Confidence in Keely's Motor
Table of Contents to this Topic
EXPRESSING CONFIDENCE IN KEELY'S MOTOR.
STOCKHOLDERS DECLARING, BY RESOLUTION, THAT THE MACHINE IS NEARLY PERFECTED.
PHILADELPHIA, Dec. 8.- The annual meeting of the stockholders of the Keely Motor Company was held today, and was presided over by Edward J. Randall, of New York. Of the 84,000 shares of stock issued 72,843 were represented in person or by proxy. Something over 80,000 New York shares represented by proxy. The session was held private, great care being, taken that no newspaper men should to present. After the meeting adjourned the only matter which would be given to the public was a resolution that was adopted, to this effect:
The stockholders having heard with pressure the favorable reports submitted to them by their board as to the status of the invention of Mr. Keely, but whereas the invention has taken a longer time for its perfections than was anticipated, by reason of which some of the stockholders who have not been able personally to follow the progress of the enterprise may have become discouraged: Therefore.
Resolved. That the stockholders now present do unhesitatingly declare that Mr. Keely has discovered and developed a new motive power of extraordinary power and energy. That the generator for the development of the power is a perfect machine. That the vibratory engine for its utilization has progressed to that extent as to have demonstrated, in our opinion, that he is master of the situation, and will succeed at an early date in utilizing as a motive power of great value the new force so discovered and applied by him. Nothing now remains, in our opinion, but mechanical details connected with his engine, which we have every confidence he will at an early day have under his entire control.