The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-28
PROSPECTUS.
Air Power Company to Ex.
plot Stock.

i Lawyer Henry w. King, as counsel
Tor the International Air Power Com
pany, has sent out prospectuses in re-
| gard to the treasury stock of the COM
| pahy which is now on the market and
| many business men in this city who
have been watching the progress made
by compressed air, have received cop
les. Mr.. King states that the stock
was placed on the market last Thurs
day, and it sold at 66, now selling at
81. 1t is stated further py Mr.. King
that ne feels confident that the treas
ury stock will soon sell tor 15O. Under
no circumstances, will the remaining
STOCK be put upon the market until af-
Ter the treasury stock is fully sold.
ne STOCK at the present time comes
uIloer outside securities at the New
AorK exchange, but an application viii
pc made at once to have it listed Mr.
hlng believes that the stock is more
promising than Bell Telephone.
Inc prospectus recites the develop
ment Of compressed air during the past
years. 1t is said in the circular that
the rapidly increasing demands for
compressed air apparatus and the lack
OF any organized equipment for It's
manufacture makes it necessary to
concentrate this industry in one cen
tire" the air power company owning
all the patent rights. Mention is made
or the fact that the company has pur-
chased the American Wheelock
Engine Works of this city and
the Rhode Island Locomotive
works Of Providence. Regarding
the Worcester works, the prospet
tus says: The plant itself covers two
acres in the heart of the city Of Wor-
cester, with modern buildings, and the
latest and most approved machinery"
The International Air Power Com
pany Will manufacture, flrst, station
airy steam engines after the Wheelock
Greene, and CorlisS patents; steam To-
comotives at the Rhode Island Loco
motive works, with their capacity for
go per year; air locomotives for which
there is growing demand; auto trucks
of every description for haulage and
carriage, for which the company owns
exclusive manufacturing rights; omni-
buses and carriages controlled by the
same patents; air cars, both for street
railway and suburban for foreign ship
ment under the Hoadley knight sys-
TEN; air compressors, to furnish com
pressed air to auto trucks, dir locomo
tlN co anu all CARS.
1t is stated that a prominent feature
OF the company will be the manufac-
ture of auto-trucks adapted to handle
load of from TO 10 tons at speeds
greater than those of a horse. In the
words of the prospectus, "a complete
line of vehicles has been developed and
application for over 10000 of them has
already been made. A conservative
estimate of the profits arising from the
business in it's different departments is
summarized as follows: Steam locomo-
tive works, $250,000; stationary steam
engine works, including the Worcester
plant, known as the American Wheel
ock Engine Company, $500, 900; air mo-
tor business, $2,O00,000; total, 50, 100, 600
There is a probability that the test
of the new auto-trucl5 which is being
perfected, will be made this week or
next, and it is expected that with Hen
ry w. King, there will be present to
witness the test, Richard Croker, JOS
eph Fl. Hoadley and Mr.. Knight. The
new company promises that the local
works will do a greater business than
in the past, and at the present time the
works are running until 8 o'clock on
regular shifts, and then extra shifts
work throughout the entire night.