Marshall County independent. (Plymouth, Marshall County, Ind.) 1897-1902, 1901-05-24

day and VIII Wreck building UnIes.
an Acceptable Proposition Is Presented
at Once.
Things went wrong for Plymouth
Wednesday. The Novelty works were
sold to the very men whom Plymouth
could least afford to have come into
possession. After accepting bids on
parcel lots Of machinery, the entire per
sonsl property WAS Knocked off in q
bulk for 81 ,265 This was $50 more
than the aggregate of the parcel sales
The real estate, including engines, boil
ers, pulleys and shafting; was bId in by
Wm. 0'keefe for $500. Trustee Sny-
der then asked bids on sll the personal
property and the real estate together
VIM. O'keefe bid $4,000, which WAS
considerably IN excess of the aggregate
bids Mcdowell, StocGer Il Co., of Chi
csgo, bid $1,000 and after cODsiiers BILE
waiting and deibersiing on the part OF
several Plymouth citizens. the property
was permitted to sell for $1,000.
The three chief outside bidders
pooled their interests and the success
tul bid was really triumph of the
American Bicycle Rim trust. BY the
arrangement entered into by these con.
Germs, the rim trust gels one half the
real estate, Mcdowell, StOcker & Co.
of Chicago, one-fOurtb and the Ma
chine Exchange company, of Chicago
one-fourth. Mr.. Lobdell, representing
the bicvcle rim trust, takes all the bicy-
Gle machinery at the figures that he bid
it in when offered In parcels. The
other two concerns divided the other
machinery
They commenced moving out the
machinery yesterday, and, according tC
their statement to representative OF
the Independent, they contemplate
selling the building at once to the Chi
cago WreckiDg company unless an &C
ceptsble proposition is forthcoming
from parties desiring. TO occupy it.
They will move the boiler and engine
unless they can be more advantsgeously
sold to parties who may desire to oc-
cupy and purchase the plant.
There have been various rumors az
to prospective purchasers Of the resl
estate, but there is at present nothing
certain. 1t has been said that the
Heinz company wants the building. II
Sc, now is the opportunity. 1t can be
bought of the successful bidders fol-
less than what was paid for 1t.
Our citizens should never permit the
wreckage of this mammoth factory
institution. They have erred IN per
mitting it to be sold Wednesday to the
parties that now possess 1t; they GER
tainly should take steps to prevent q
second and worse chapter.
The gentleman representing the Chi.
cago Machine company said to the pub
Usher of the Independent that Plym.
outh certainly had cheap lot of men
of means. Says he, "they would have
better paid $4,000 for the property
than permit it to be wrecked. SO long
as you have men that are more willing
to sap the vitsls of your community in
interest charges Than they are to place
their funds in some concern that will
employ people and draw in outside
money, just 80 long," says he, "may you
expect to have city unsccustOmed to
progress"
Plymouth certainly has men who
who should have walked up and defied
the outside bidders, men who are worth
as much, perhaps, as all the institution
represented at the sale. This was their
opportunity to display their public
spirit.
Ii is understood that the purchasers
will sell the building, boiler engine and
electric light plant for $6,000 If this
is true, our citizens should not per
NIT the building to be wrecked.
In conversation with James A
Gilmore yesterday he gave it as
his opinion that we certainly ought to
find five moneyed men in Plymouth
who would be willing to raise the
amount and take chances of disposing
of it to some one who will operate q
factory of some kind.
Mr. Snyder expressed himself as feel.
ing that there is still good reason to
believe that the plant will be disposed
of to some concern that will operate it
The present owners don't want real es-
tate. They want to turn the property
into money quickly and of course will
sell it to manufactures who will Oper.
ate a factory, if they can by so doing
get more money out of Il than by sell.
ing to a wrecking company. 1t Is bare
ly possible that the building can be
bought of the purchasers for less than
they paid for it.