The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-24
NEW UTAH COMBINE HAS
CAPITAL OF $G500,00
Consolidated Wagon & Machine Company Organ
lied With Salt Lake as Headquarters.
George T. Ode VIII Be Manager of the Eew Concern George
Snow Retires

The merging Of the large business
interests of the Cooperative Wagon
& Machine company and the ConsoH-
dated Implement company became an
assured fact yesterday when the
shareholders of each company in spe-
eiaI meetings, voted unanimously to
make the consolidation as recon-
mended by their respective directors.
The new company viii be ready for
business about Feb. 1. shortly after
meeting Of all the odd shareholders a
month hence. when the final auditing
report viii be presented and arrange
ments will be made for exchanging old
shares for the new.
With a capital stock of 81 500.0 900 in
500 shares, the Consolidated Wagon &
Machine company viii absorb all Of
the property and business Of the two
old companies. TwO-thirds of the cap
ital viii be preferred stock, entitled TO
Z per cent annual dividends, and the
remainder viii be common stock 1t
will require the issuance Of 100000 of
preferred stock, and 100000 of the com
mon stock to carry out the plans Of
consolidation. The remaining shares
viii be held in the treasury.
At the meetings yesterday afternoon
the articles of Incorporation of the
new. concern were adopted. It win be
observed that the identity of both in
stitutiOns is preserved in the title OF
the Consolidated Wagon & Machine
company.
Names of Officers.
The board of directors will consist Of
the following weli-known business
men:
Joseph F. Smith. president W. S.
Mccormick, vice president; George Il.
Odell George Romney, Henry 3. PrOut,
Gilbert G. Wright, James H. Moyle,
George A. Snow, Frank r. Snow, He
Der J. Grant, Charles S. Burton. John
Henry Smith. Lewis S. Hills.
Melvin D. Wells, the present score
tary Of the Cooperative Wagon & Ma
chine company. is to take the position
of secretary Of the new company, while
Frank r. Snow. the present secretary
and treasurer Of the Consolidated I'm
plement company, is to take the pO-
sitiOn of treasurer Of the new company.
George T. Odell is to assume the gen
sral manag ement-
On the report of the committees APP
pointed to take inventories and valua-
lions will depend the amount of stock
which the old stockholders will re-
ceive in the new company. but it can
DC stated that it is already certain
that the stockholders of the Coop.
Wagon & Machine company will re-
ceive stock or the basis of s130 I'm pre-
ferred stock for their present holdings,
and the common stock at something
like $50. It is stated that the new COM
pany will retain all the important
/ agencies of the two concerns and that
all the big manufacturers were unau-
I imOUs in approving the combination.
Members Of the new board stated
that there viii be no disposition to adj
vance prices. the main idea being to
save the heavy cost of operating two
/ separate concerns.
viii Have Several Branches.
! The present house and general Of
( fees viii of course be in this city. but
/ it Will start out with large branch es-
/ Establishments at the following points;
] ogden. Utah: Logan. Utah, BlackfOOt
/ Ida: Idaho Falls, Ida; ReXburg. Ida;
/ St. Anthony. Ida; Montpelier Ida; Al
/ ton. WyO.. and Nernal. Utah.
In addition to which it viii have a
/ considerable number of warehouses
and distributing stations Throughout
/ the territory it covers. which now en-
/ braces all of Utah. the southern hall
of Idaho. the eastern half Of Nevada
/ and the western half of Wyoming
while its trade extends 10 Montana
/ Arizona and even to old Mexico.