The Grange advance. [volume] (Red Wing, Minn.) 1873-1877, 1876-01-12

0lS SliU 674 ~
Patterns 81, 629-dis. 1925 1904 90
Total leeds. $2,556.20 $24.s70 70
Real estate, machinery, tools and
permanent fixtures $27,526 80
Stock, extras, etc., on hand 1853 IS
Total value $4,000 "a
1t will lie seen that the proposition
of Messrs. Densmore is to put into the
stock company only the real estate,
tools, machinery, and permanent prop
erty, inventoried at $27,526.99 less a
discount OF $3,o26.99, and to sell what
ever stock may be remaining on hand
when the company is organized. Of
the real and permanent property they
propose to invest $4,000 in the COM
pany and sell to the company the re-
mainder ($2,5o0) to pay existing claims
against the firm.
PROCEEDINGS RESUMED.
The report was accepted.
Mr.. Herbert moved that the chair
appoint a committee of five to solicit
subscriptions Of stock with view Of
ascertaining the disposition of the citi-
zens towards the projected enterprise.
Hon. E. T. Wilder, remarked that no
subscriptions would be valid until the
company was legally organized, but it
might be as well to try what could prob
ably be done before mourning the ex-
pense Of organizing.
The motion was carried and the
chair appointed G. Cogel, D. Densmore,
H. B. Wilson, B. B. Herbert and J. NJ.
Hedgman to act as such committee.
Judge Wilder moved that the COM
mittee be requested to call meeting to
receive their report whenever they are
prepared to submit one, with the un-
derstanding that the company is to be
formed when it is ascertained that
$50, 900 of stock will be subscribed.
GENERAL DISCUSSION.
Some one suggested that Mr.. Dens-
more explain to the meeting the char
aoter Of the proposed business.
In reply, that gentleman stated that
they are now making speciality Of
small steam engines, and it is proposed
that the manufacture of these should be
continued and that steam threshing
machines and power for general work
should be added.
In response to an inquiry as to the
probable demand for these articles, Mr..
Densmore referred to Mr.. J. L. Hast
ings, the foreman of the shops Of the
firm.
The latter thereupon answered that
there were orders for fifteen or eight
cen engines alreadyIin prospect. The
main difficulty under which Messrs.
Densmore labor is that they have not
the capital required to carry the work
demanded. 1t is necessary, in many
cases, to give credit on part Of the
amount, generally for a year, and hence
the work cannot be extended beyond
the ability of the firm to afford these
credits.
These engines are of his Mr., Hast
ings own designing. The manufac'
ture of them was commenced last
March, and since that time eight have
been sold. They have become very
popular. One was sent to Milwaukee,
and is pronounced there to be the best
engine in that city. Messrs. Densmore
have more jobbing work demanded than
they are able to do with their present
facilities, and this demand is on the in
crease. The indications are that they
could dispose Of all the separators and
portable powers they could make with
the Increased facilities proposed. There
are now six or seven applications for
separators and powers. He alluded to
machinery the firm has recently put up
on MIR. HOWe's farm. and said that