The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-03-15
ELECT AEN DIRECTORS
STOCKHOLDERS OF WALTER A.
WOOD HARVESTER WORKS
HOLD A MEETING
RECEIVERS MAKE REPORTS
Feature of the Gathering Was an
Emphatic Statement of His
Position by Receiver
A. H. Lindeke.

The stockholders Of the Walter A. Wood
Harvester Works company met yester-
day afternoon at the Chamber of Com
The financial affairs of the company were
worked over at length. and the receivers
made verbal reports. Action was taken
towards winding up the receivership by
selling the plant and disposing Of the
assets. The features Of the meeting were
an emphatic statement of his position by
A. H. Lindeke Directors were elected as
follows:
Col. w. P. Clough. Kenneth Clark, C.
w. Hackett, r. L. Schumacher w. A.
Wood Jr.. T. 8. Mcgowan. Danforth Ger.
j. Wool Griswoid. Seymour Van SAINT
voord.
ly one of the receivers OF the concern, was
objected to on the ground that he has
removed to Paris. France, and has left
the country. 1t was stated, however,
that the Eastern stockholders desired his
name included In the list, and the choice
was made.
OF the 25,000 shares of the company, 49,
$50 were represented either directly or by
proxy Col. W. P Clough acted as chair
man, and James J. Early as secretary
pro tenn. When the report of the board
Of directors was called for, c. w. Hack
EFT explained that during the past year
there has been nothing In the way Of
business up for consideration before the
board. and that for this reason no meet
ings were held and nothing done The
verbal report was accepted.
The financial report OF the affairs of the
company showed that from nearly 50 00e,-
900 in assets, the values have shrunk to
less than q quarter of that sum on the
market, leaving the company in very bad
shape. The book values of property own
ed by the company stand at 81, $3.50, 102 a.
AS an instance of the shrinkage of values
one piece of property, the works of the
Appleby Binder company in Minneapolis
purchased several years ago for SIPS, 000
was recently refused when offered at $40
900 by the receivers. This and other facts
were brought out in the discussion of the
situation. The works and machinery are
carried on the books of the company at
$67S.6S3; bills receivable. $25O5Sl patents
owned, $l25.000, and other assets proper
tionately high.
The company has cash in hand, $50
64l.55. A statement of liabilities given out
at the session shows S45,34614 while the
statement was made in answer to a
question by Receiver Seymour that the
company owed in interest accrued and
other matters approximately $19S, 900 on
March /.
A. II. Lindeke, another of the receivers.
made statement in which he reviewed
In detail the course Of the receivership.
Little actual business was accomplished.
The receivers outlined their plan for the
termination of the companys affairs,
and stated that in their opinion 1t is best
to sell for the best that offers, and wind
up the receivership as soon as possible.
Acting on Mr.. Lindeke's suggestion, the
stockholders appointed the four local d.
rectors, Clough, Schumacher, Clark and
Hackett, with d. r. Noyes a committee
to act in an advisory capacity with the
two receivers, Messrs. Seymour and
Lindeke, in the matters vet 10 come up.
most important of which Is the hearing
on the application before the court to sell
the plant and dispose of the assets at
once The hearing occurs March 20.