Rotary Industrial Committee
The Rotary Club of Yanceyville took the initiative to begin the industrialization of Caswell County. In 1938, when the club was just in its second year, an industrial committee was appointed under the chairmanship of John O. Gunn, and it reported some specific plans to the club. The result was the organization of the Caswell Development Company with Gunn, T. E. Steed, and S. A. Malloy as incorporators. When the company was organized C. C. Cole became president while T. E. Steed and Hubert H. Page were vice president and secretary-treasurer, respectively.
An intensive campaign was begun to raise funds to construct an industrial building, and with the full cooperation of the Rotary Club and other citizens in the county a substantial sum of money was raised to begin construction. Additional money was borrowed and construction was completed very early in 1939 so that the Caswell Knitting Mill opened in late February. Artie Glenn Holt of Burlington (Company Shops) had recommended this particular type of industry and he became the operator of the mill, which gave employment to around 150 people. This was a significant beginning and it was symbolic of the future.
Source: When the Past Refused to Die: A History of Caswell County North Carolina 1777-1977, William S. Powell (1977) at 304.
Newspaper Article:
Four members of the Rotary Industrial Committee are pictured above, as follows: Jn. O. Gunn, chairman, upper left; T. E. Steed, upper right. Clarence L. Pemberton, lower left; Dr. S. A. Malloy, lower right. This committee, with the cooperation of the entire club and other county citizens, has been working on plans for the industrial development of Caswell county, and it is expected that an important announcement concerning this activity will be made at an early date.
The Caswell Messenger (Yanceyville, North Carolina), Thursday, 22 September 1938.
Caswell Promotion Unit Stockholders Vote to Dissolve
Yanceyville, Sept. 19 -- Stockholders of the Caswell Development Co. have voted to pay off the shares of the stockholders and dissolve the corporation, according to J. O. Gunn, secretary-treasurer.
The company was organized here some 20 years ago to promote the industrial development of the county. Shares were sold and the corporation erected the building for the Caswell Knitting Mills here, which later purchased the building from the corporation. The company then erected the building for Atwater Hosiery Mills. Shares of stock were sold to finance the operation.
Later, Gunn [John Oliver Gunn] and Clyde C. Cole bought the mill and changed the name to Cole-Gunn Hosiery Mill. During the past 10 years the company absorbed the taxes and other expenses connected with the building and paid the stockholders of the Caswell Development Co. six per cent on their investment.
In bringing two new industries to Yanceyville, the development company has aided in doubling the population of the town and bringing thousands of dollars of extra income to the county.
The Herald-Sun (Durham, North Carolina), 20 September 1957, Friday, Page 36.
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John Oliver Gunn (1892-1992)
Clyde Caviness Cole (1903-1969)
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