Dallas Morning News
May 2, 1889
Page 6

SHERMAN, Tex., May 1 - Quite an important meeting was held in the reception rooms of the City bank this afternoon at 4 o'clock.  It
is understood that in addition to the northwestern outlet other railroad matters were discussed fully and in a determined manner.  It
is probable that there will be another railroad connecting the cities of Denison and Sherman in a very few months.

At a meeting held for that purpose to-day, quite an interesting circular letter was prepared on the subject of cotton factories in Sherman and published in the Evening Register.  It is proposed therein to establish a manufacturing corporation to be known as the Grayson milling company, with a capital stock of $200,000, to be divided into shares of $10 each, which can be taken by farmers at
the rate of a bale of cotton per share.  Each share entitles the owner thereof to one vote and that much voice in the management of the enterprise.  Farmers interviewed by THE NEWS reporter on the subject are enthusiastic over the proposition, and it is estimated that not less than 3000 bales of cotton, by the way only 10 per cent of the county's average annual yield, will be exchanged for stock in the mill, representing in itself over $100,000 or half the amount required.  Voluntary proposals from capitalists, merchants and property holders of the city show there will be no trouble about $100,000 being raised in this city.