Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-03-23

The official announcement OF the compile
tion of the organization of the Northwestern
Car and Manufacturing Company at Still
water, is made in the columns of the GLOBE
this morning. This mammoth in
stitution was conceived last sum-
mer and commenced work In q
moderate way at the works Of Seymour, ga
bin & Co., last September Since that time
six hundred box freight and fat cars have
been made to fill orders from the Northern
Pacific, the st. Paul 81 Omaha and the
Minneapolis IS st. Louis roads, and the
company now have orders ahead for twelve or
fifteen hundred more.
The rapid progress made caused hon. u.
NJ. Sabin, who is the master spiflt OF Inc III III
Germ, to determine upon charging the capital
and capacity of the works. To accom-
plish this end the new organization
WIS made with a capital OF hve
millions, three millions being In
preferred stock and two millions IN com
mon. Few men would have had the energy
or enterprise to undertake such an enterprise,
and fewer still the ability TO carry !.
forward to q successful conclusion. That
Mr.. sabin has accomplished this in few
brief months is an achievement of which ne
may well be proud.
For many years the firm of Seymour,
sabin & Co. has ranked high among
the business establishments of the state,
being engaged in the manufacture OF thresh.
ing machines, horse-powers, engines and
other branches of industry. This of itself
grew to be a mammoth institution, over
1000 threshers and several hundred engines
being made last year, and formed the nucleus
of the new company, the Old
firm being now merged IN the
new. Mr. Sabin enlisted large amount
of capital among railroad men and capitalists
1T kl.o 1rsfx @f fha HyroYy
stock is owned and controlled by the members
of the old company of Seymour, Sabin d Co.
The three millions preferred stock is sold
at par, the purchasers to receive
a bonus of fifty per cent. of their
subscription in common stock and half
million common stock is to be held in the
treasury.
and its kindred industries will be pushed more
vigorously than ever the great work
of the new company will be the
manufacture of railroad cars. Over twenty
cars arc now being turned out per day. Over
1000 men are employed, and the
pay roll alone amounts to over one-half mil
lion dollars annually. Inside OF SIX
will be doubled. Only freight cars arc now
made, but orders are alreadyin for passenger
coaches, and these will soon be produced.
The company have so acres of ground which
they have cut into 400 lots, and on which they
propose to erect at least 200 houses for
sale or rent to their employees, as they may
desire. They make their own castings and
will soon add boiler works and forge for the
manufacture of car axles. The new company
is differed as follows:
D. NJ. Sabin, president.
C. D. Gilfillan, vice president.
r. F. Hersey, secretary.
E. l.. Hospes, treasurer.
Directors-N. w. Kittson, G. D. Gilfllan,
A. Fl. Wilder, C. Gotzian, j. s. Fogg, G. T.
Cogswen, j. G. New, j. G. Pierce, j. 4.
Meagher, F. B. Clarke, Thos. Lowry, A. B.
Stickney, E. L. Hospes. Isaac Staples, ID. NJ.
Sabin.
The1eople of Saltwater and OF the whole
state are to be congratulated upon this great
enterprise Mr.. SIbin is appropriately made
president OF the great company he has so
skillfulIy organized and under his energetic
management success is certain.
The business already done renders handsome
dividends certainty, and the stockholders
have reason for feicitation.
The new company have secured elegant
quarters in the new Gilfllan block In
this city in connection with the g. N. Nelson
lumber company and the treasurer VIII be To-
Gated in St. Paul. This organization is a mann.
moth step forward in the development OF
this rapidly advancing section OF country.