Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-05-07


Greene. A local syndicate, thru A A
Moore, was the next highest bidder, a,
s53,50o. c. H. Scherer & Co., of De-
troit, Mich, manufacturers and jobbers
of carriage material and one of the
heaviest merchandise creditors of the
local concern, quit bidding at $4,000
which was $1,000 better than their bid
April 80.
The bidding was started at $4,000 by
Mr.. Moore, representing The local syn
dicate. Mr.. F. E. Wadsworth, for
Scherer & Co. and II. j. Howe, of this
city, were early bidders, until the s46,-
500 mark was reached. At $4,000 Mr.
Staver came in and the bids were raised
back and forth, between him and Mr.
Moore, until the latter's bid stood at
s53,5oo. Mr.. Staver went $500 better
and there were no more bidders.
The terms of the sale are. $4,000
cash when the bid is accepted by Trus-
tee Greene, the balance to be on terms
satisfactory to the trustee. Interest on
deferred payments is TO be at the rate OF
6 per cent from May 20.
MIR. Staver's Plans,
plans. He said that tie plant would
be operated temporarily. at least, or un-
til the stock is worked up. "All these
people here should have DONE" he said,
was to have bid once more, and they
would have got it. was not figuring
on buying the plant at all, and now that
l have it l suppose I should begin to
think what am going to do with It. AS
10 how 1 shall handle the property can
not tell, as / have been thinking about
buying only for four or five days. /
may yet sell it to these Marshailtown
run it up to about S56,500 or $57 900. All
/ wanted to do was to help out the
creditors a little. l think the local bid
ders made a mistake in not bidding it
in, and / think they will feel so them
selves before night. 1 will sell 1t to
them, but l didn't come out here for
pleasure, and il they buy it they will
have to pay me a profit.
when the inventory of the stock is
again taken can tell better what l
will do with the property. The ques-
ton of labor is a great one here l un-
derstand from some men who ought to
know, and there is some doubt in my
mind whether skilled labor can be
secured at the right price. In Chicago
it is different. All we have to do is to
run line in newspaper and we have
them standing outside waiting. That
is one reason. in my opinion, why car
riage companies in small towns are not
successful. l am very sorry the plan.
isn't on railroad, for the drayage is
bigger item of expense than most
anyone would imagineP Mr.. Staver
added that his principle object in buy
ing the plant was for the stock, which
he could ship to Chicago If he saw fit.
The plant is invoiced, together with
stock, in the neighborhood of $780, 0OO
On the stock. however, the term that
designates the material manufactured
and manufactured on hand, is on a
basis of 10,550.1S, which is the invoice
figure. The amount of the bid is to
be reduced in the same proportion as
the gross amount of stock now on hand
bears to that of the invoice, as some of
the stock has been used and sold since
the plant began operations under the
trustees.
With today's sale Trustee Greene
practically winds up his business with
the concern, as far as the plant is con-
cerned, he will have the accounts of the
concern and outside realty to dispose of,
before he is discharged as trustee.
Mr.. Staver, who has purchased the
factory, is one of the most successful
carriage manufacturers of the west
He is president and general manager of
the Stayer Carriage Company, but he
makes the purchase in his own name
o. w. Johnson Racine, Wis, million-
aire, is president of the Staver
Carriage Company, and f. H. Meadow,
of Chicago, secretary and treasurer.
Mr.. Stavel's son, II. b. Staver, is also
interested in the Chicago concern, and
the other director, not holding office is
Colonel Lowe Emerson, of Cincinnati.
While in the city Mr.. Staver will be
the guest Of Mr. Lloyd r. Maxwell, who
has been in his employ for the past
four months.