Keely and His Discoveries: Aerial NavigationMoore, Bloomfield H., Mrs.
Religion
Keely and His Discoveries: Aerial Navigation
Moore, Bloomfield H., Mrs.
Keely motor; Keely, John Ernest Worrell, 1827-1898
Admitting all that has been said of the difficulties attendant upon
the comprehension of a genius by the age in which he lives, it does
not require genius to understand the blunders which, perpetrated
by the managers of the prematurely organized Keely Motor Company,
have placed Mr. Keely, as well as themselves, in false positions with
the public; leaving him since the winter of 1880-81 to bear the whole
burden of the infamy brought about by their having offered stock for
investment which could possess no tangible existence in the shape
of property until the laws governing the unknown force that he was
handling had been studied out and applied to mechanics in a patentable
machine. To those informed that this company ceased to hold annual
meetings as far back as 1881 it will be a matter of surprise to hear
that, sitting up in its coffin, seven or eight years after its burial,
it called another annual meeting, and that now its managers are again
applying the thumb-screw, as in past years; pressing their claims and
threatening a suit for obtaining money under false pretences, unless
Mr. Keely renounces his plan of progressive research, and gives his
time to the construction of engines for the Keely Motor Company. This
requirement, as was said in 1881, of a similar effort, is as sensible,
under existing conditions, as it would be to require Keely to devote
his time to growing figs on thorn trees. It is from the "Minority
Report to the Stockholders of the Keely Motor Company from the Board of
Directors" (made by a member of that board in 1881, John H. Lorimer),
that the material is gleaned for disclosing facts which it is due
to Mr. Keely should now, since this last attempt to intimidate him,
be given to the public. The stock of that company is not lessened
in value by the mismanagement of its officers and directors; for
Mr. Keely's moral obligations to its stockholders are as sacred to
him as if the company had not long since forfeited its charter. When
Mr. Keely became financially independent of the company last March,
speculation in the stock of that company received its death blow,
and the "Keely Motor Bubble" burst, leaving to the stockholders all
that ever had any tangible existence in the shape of property in a
more valuable position than it had ever been before. Mr. Lorimer is
a gentleman of Scotch birth, who was elected a director of the Keely
Motor Company in 1881, and who resigned in 1882, because he was "unable
to carry the enterprise," and unwilling to fall in with the policy of
the old directors. Before resigning, he set himself to studying the
position of affairs with a view to forming for the Board a definite
plan of action which ordinary business principles would justify.
Public-domain text, read in full here on John Shaqi.
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