At 1:30 p.m. on November 6, the founding committee was called to a meeting by Norman to tie up legal loose ends. First, to qualify the new corporation as a “restricted dealer” in its own stock (from the beginning Norman had pledged that no commission was to be paid to anyone for the sale of stock), to register securities of the corporation (the stock), and to designate one person at each of the banks, clubs or other places of business where the stock subscriptions will be taken, as liable for all subscription forms. It was determined a prospectus should be issued.
“The men designated will become temporary officers in the corporation, probably carrying the title of vice president,” said Norman
The next day sports writer F. M. Williams announced the new officers of Vols, Inc. Herschel Greer was named president, Eddy Arnold, secretary, and Joe C. Carr, treasurer. Ten vice-presidents were selected: Joe Sadler, John U. Williams, Harold L. Shyer, J. B. Coarsey, Dr. Cleo Miller, Vernon Williams, Al Link, Jr., Bill McCarthy and Dick Sisler.
“These offices will serve until the entire stock issue of 50,000 shares, to be sold at $5 per share, are disposed of. Then stockholders will vote on a board of directors, which in turn will name permanent officers,” reported Williams.
Local businessmen rallied loyal supporters to commit to purchase $5.00 shares to form Vols, Inc., and save the Nashville franchise from folding. A total of 4,876 investors purchased shares and became stockholders in the team. Included on the board of directors were country music star Eddy Arnold, John A. McPherson, and Herschel Greer.
The board of directors of Vols, Inc. included Dick Sisler, Bill McCarthy, Al Linx, John U. Wilson, Vernon Williams, Dr. Cleo Miller, Jimmy Miller, Nashville fire chief John Ragsdale, Bill Lambie Jr., J. R. Coarsey, Al Greer, Jack Norman, Joe Carr, Eddy Arnold, Joe Sadler, and Herschel Greer.
Greer, McCarthy, Eddy Arnold, Dick Sisler, and Bill Lambie visited every event, every company, every opportunity throughout middle Tennessee selling the stock.
“They, along with countless others who were interested in keeping baseball here, raised the $250,000 15 days before the Jan. 7 deadline.”
By November 18, the sale of stock totaled $100,000.00. “One of the biggest problems we have now,” said Bill McCarthy, general manager of the baseball club,” is getting our representatives around to all the people who have said they want to buy some stock.”
Some stockholders received their certificates on January 20, will the remainder to receive them in the mail the next day. Included was a notice of the first stockholders meeting to be held in the city council chambers at 1:30 p.m. on Monday, January 27.
“And, not missing a trick, there was included a ticket order blank, informing each stockholder that he can buy tickets at a cut-rate price before the start of the season,” wrote Nashville Tennessean sports writer Raymond Johnson.
This is Part 6 of the ongoing story. Read more about the events that led to the sale of the Nashville ball club in 1959 in the next installment.
Note: This Nashville baseball history was presented on Saturday, March 3, 2018 at the 15th annual Southern Association Conference at Rickwood Field in Birmingham, Alabama.
© 2018 by Skip Nipper. All Rights Reserved.
 F. M. Williams, “Stock Sale to Save Vols Will Start Monday Morning,“ Nashville Tennessean, November 6, 1958, 33.
 Eaves, Yvonne and Eckert, Doug (2011). “Nashville’s Sylvan Park”. Charleston, South Carolina: Arcadia Publishing
 F. M. Williams, “All the Minor Leagues Should Follow Vols,” Nashville Tennessean, August 24, 1960, 16.
 F. M. Williams, “Greer To Head Vol Operation,” Nashville Tennessean, November 7, 1958, 48.
 “Stock Drive Nears $100,000,” Nashville Tennessean, November 18, 1958, 19.
 Raymond Johnson, “Vols Change Hands Today,” Nashville Tennessean, January 20, 1959, 11