Marshall County independent. (Plymouth, Marshall County, Ind.) 1894-1895, 1895-10-25
ASKED FOR RECEIVER
PRAYER GRANTED AND DWIGHT
L. DICKINSON APPOINTED.
To Manage Affairs of the Plymouth Wagon
Company by Order of the Court ASSETS
Greatly Exceed Liabilities.

asked III the circuit court ht1HtSudy ,
for the Plymouth Wagon Co. of this |
city. and ID. i. Dickinson was appoint /
eel to unraycl the tangled skein into /
vticl the affairs of this company have |
been wound. This move was not /
forced by creditors but has been
brought about by the action of stock
holders who desire that a more har- /
monious and systematic state OF at
fairs shall thus be developed.
The Plymouth Wagon Co. has his
tory dating back to about three years
ago when the location of this plant was
secured for this city, partly from liberal
subscriptions by interested citizens and
partly from the sale of land acquired
by the company which was sub-divided
into lots and sold out on time pay
ments. The parties principally inter
ested in the beginning were j. {. Frost
and Peter Dickman, Of Defiance, Ohio.
| They entered into an agreement with
the citizens OF this city TO do certain
| things, which was not however entirely
fulfilled on their part, with the result
that considerable dissatisfaction finally
grew out Of the deal.
1t seems that Messrs. Frost and Dick
man were not in harmony and as near
as we can learn it was alleged that Mr..
Frost was the injured partner, and that
Mr.. Dickman was somewhat at fault in
his management of affairs. The people
of this city were dissatisfied with the
outcome Of what promised in the b gin
ming to be great industry. Belie me
changing the active management i thf
factory it could be made profitable not
alone TO those financially interested but
TO the entire city, steps were taken to
see what could be done in the matter,
which finally resulted in the purchase
of Mr. Dlckman's interest by Mr.. o. +.
hetcham, of this city. y stock com
rany was then organized which a5sum-
Ell the liabilities of the old company
and it is partially cue to these liabili-
ties that the company has never been
visited with d great degree of prosper
.ty.
There We're other causes, however
which were active in preventing any
largely successful results from the efforts
of this company, prominent among
which was the fact that the same lack
Of harmony between Mr.. Frost and Mr
Dickman has continued to exist in
some degree between Mr.. Frost and
other members Of the present company
The new company was capitalized al
$50 900 which was considered to be the
actual value of the plant, but with the
debts of the old company saddled upon
1t as they were, and with Mr.. Frost
owner of one half the stock and secre.
tary OF the new company, engaged III
other business in Defiance, Ohio, and
unable by reason of his distance from
this business and the limited atteation
he was able to give to it the stock com
pany had many difficulties to contend
with from the beginning.
The debts have been a burden and
the lack Of harmony and strained in
ternal business relations have so hand
icapped the company that it is really
surprising that it has continued SO long
without some vigorous aic is to change
= =. cn i, was surround
ed having been made.
The manuiact ured product of this
company is first class i'll every respect
and has always found ready sale. The
Plymouth wagon is said to be one OF
the best, strongest, lightest running and
most durable wagons in the market
and there has never been time since
these wagons were manufactured that
the product of the factory could not be
sold faster than made. The indebted
ness of the company is now about
$4,000, and the assets, figured at so pei
cent. of the value of the plant and
stock, are nearly $4,000. There is nc
doubt that it W )uld bring this sum OF
money at forced sale. We trust, how
: ever, that it will not be necessary tC
make such sale. There is no doubt
that with the proper reorganization
and q firm, systematic business man
agement the stock can be made to pay
large dividends. The company owns
six acres of ground and the plant il
splendidly equipped with the very bes
of modern machinery. There is now il
stock almost enough material for th'
f. manufacture of 500 complete wagons
: which if made up and sold, would re
turn enough ready cash to pay the ex
! penseS of their manufacture and pa,
off the indebtedness of the company
If an organization can be effected b,
which this stock can be turned into
commercial product and sold withOu