St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-08
WORK TO BE RESUMED IN EAR
NEST AT THE WOOD HAIR
VESTER WORKS.
MAY MAKE $4,000 MACHINES
DURING 1896, UNDER THE ORDER
OF THE COURT TO THE RE-
CEIVERS.
ABOUT 500 MEN WILL GET WORK
Operate Fully on the YEARS.
Contracts.

Peter S. MacGowan, vice president,
general manager, and one Of the re-
ceiVers Of the Walter A. Wood Har-
vester company, has just returned
from the East, where he was pur-
chasing material for the manufacture
Of machinery in the factory this year
When seen by Clio b e reporter last
night, Mr.. MACEDONIAN expressed salts
faction at the action of the court in
permitting the receivers to carry on
the business for another year. Still
this was the, only reasonable thing
the court could do, he thought, for the
protection even Of the creditors, as the
plant would not sell for enough to
pay off the debts, whereas by running
1t the receivers will be able to liquidate
every dollar before the close of the
year
Did you purchase enough material
to manufacture all the machinery the
court has given you permission to
maker" was asked
mo, did not purchase all of it yet, -
answered Mr.. MacGowan, but 1 con-
tracted for large part of the iron
material necessary in Pfttsburg"
How does the price Of material COM
pare with what it was year ago?"
ut is a little higher, though not quite
as high as it was last fall
When will the factory be started ?"
We'll, we have been working a few.
men in the malleable iron foundry
right along, but next week the foundry
will be started up with a full force
This will give employment to about
$50 men in all. Then the other depart
ments will be started right along after
that as rapidly as the progress Of the
work may require. The whole num-
Der of men employed when we get
everything going will be about S00.''
The receivers sold about $4,000 ma
chimes last yer, and could have sold
nearly one-third more if they had had
them made. This year they are authoriz-
ed by the court tomake 5000 binders, G, 60
mowers and 1000 rakes, bringing the
total up to the same as last years
sales. But Of the amount sold last year
large part had been carried over from
the previous year, whereas, this year
hardly any have been left over the num-
Der being 1876 binders, 500 mowers and
80 rakes, SO that practically all the ma
chinery to supply this years trade will
have to be made, which means the en-
ployment of a far larger force of work
men than was employed last year. This
will be good news for those Wage-earn-
ers who have been anxious1y looking
to the starting up Of the factory to fur
n1sh them with something to do.
Last year the receivers were allowed
to borrow $275,OO0 to carry on the bust
ness, and this was paid back, besides
the liquidation Of $410, 600 Of the indebt-
edness. On Jan. l the assets and liza
btlities of the institution stood as fol-
lows: Bills receivable, 81, 000 900; ac-
counts receivable, 100000; stock on
hand, $35O,OO0; cash, 100000 making a
total of $1,750,000 assets, aside from the
plant. The total liabilities were then
$756,O00, and this was reduced to $716,-
900 since.
The Eastern creditors who were at
first opposed to permitting the receiv-
ers to carry on the business another
year withdrew all opposition as soon as
they learned the progress that had been
made during the past year, and practi-
cally all the creditors are now doing
everything in their power in the line Of
cooperating with the receivers to pull
the business, out of the, hole. The peo-
pie of st. Paul, therefore, have reason
to feel gratified over the promising out
look for the future Of an institution
that is Of so much Importance to the
city.