The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1904-05-19
TWO FACTORIES
CONSOLIDATED.
HANNA CO., OF THIS CITY, Alb
soR5s DAVENPORT PLANT.
BIG THING FOR osKALoosA.
Capital Stock Increased From $4,000
TO $4,000, TWO Hundred People
to Be Employed and Busi-
ness Greatly Enlarged.

it much promise for the future gooG
Of Oskaloosa has just been made ii
the reorganization Of the Hanna
Manufacturing Company Of this city
The capital stock of the company has
been increased from $4,000 to $75,
000 and the company has absorbed
the big garment manufacturing plant
at Davenport. In the changes made
DR., III. G.. Pape, a leading dentist oi
Davenport, purchased the interest
of the late J. w. Hammond estate In
the local factory. A consolidation
was then erected, and one of the big
gest concerns of the kind in the west
is the result. Both factories will be
operated to their full capacity and
the, work will be so divided that the
trade can be better cared for. The
Oskaloosa factory will devote its en-.
tire energy to the manufacture of the
famous Penn Garments" or engin'
eers' and workmen's suits. The fac
tory at Davenport will make spe,
cialty of work shirts and overalls
w. r. Cleaver, who has led the local
factory to such phenomenal success,
win be manager of both plants. The
Davenport factory will employ about
rs, people, and the Oskaloosa plant
from, 100 to 125. The headquarters
for both remains in Oskaloosa, and
there will be mo change of residence
by any proprietors or employees.
!. More travelling men will at once
be put out and a larger territory COW
cred. The goods are not only in de-
mand now all over the United States,
but in Canada and Old Mexico as well.
The work at both plants will continue
under the auspices of the Unions,
sHVhaeh means good goods and good
fsSsi ices to all employees.
~ yEES remarkable showing in the
grown of local industry is tribute
20 the men who started it and nursed
it, through a long season Of disap-
pointemnts and reverses, and it is
regretted by his associates that the
late Col Hammond did not live long
enough to witness the great future
that now seems in store for the con-
Germ. He was the life of the enter
prise in its infancy and to him and to
j. G.. Hanna, w. P. Cleaver, ]. E.Whit-
aler and w. o. Nugent, is due the
gratitude of Oskaloosa for one of the
leading enterprises of the city, and a
factory that is spreading the fame of
Oskaloosa for thousands of miles in
all directions. The new men in the
enterprise are among Davenport's
leading citizens and capitalists.
They add great strength to the COM
pany, and unitedly the Hanna people
will have ample means to push the
plant forward to its most promising,
successful issue.
The changes noted above are thus
told in an official way by the amend
ed articles of Incorporation filed for
record today:
Amended Articles of Incorporation.
In q special stockholders meeting
OF the Hanna Manufacturing Com
pany, held in Oskaloosa on May 1917,
and attended by all stockholders in
person or by proxy, the following
was adopted:
To amend Article so as to read
"The authorized capital stock shall
be $4,000 divided into shares of S100
each. OF these $4,000 shall be pre-
ferred stock, entitled in preference
to the common stock to cumulative
dividends at the rate of Z per centum
yearly, and in distribution of assets
to payment of its par value and the
amount of such cumulative dividends
then unpaid, but TO no other diyi-
dends and payments. The other $685.
600 shall be common stock and shall
be entitled to the additional net
earnings of the corporation. The
corporation reserves the right in and
after ten years from date Of these
amendments to retire the preferred
stock or any part OF same by paying
therefor the par value and any un-
paid cumulative dividends. Bal
ance of stock to be raised as ordered
by the board of directors"
To amend Article z SO as to read !:
THE officers of this corporation
shall be a president, vice-president,
secretary and treasurer, who shall be
elected by the board of directors from
their own members, and hold office
until their successors shall be elect
ed and qualified. One person may
hold Offices of secretary and treasur-
er. The officers to perform the usual
duties belonging to similar offices,
and as directed by the board Of direc-
tors or by laws passed by the board
or corporation"
To amend Article so as to read:
D "The affairs Of this corporation
shall be managed by board Of direc-
fCsonf{nr,ad -. roo.~ rA