The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1908-09-05
Rahn-Carpenter Company and
South Side Improvement
Association Agree Upon
Terms Covering Deal.
CASH INDUCEMENT OF
100000 AND STOCK ISSUE
Plant to Employ 800 Men And
Be Located in BeaIIvieW-
Sale of Lots Will Secure
Needed Funds.

BY the terms Of a contract entered
into between the n-Carpenter cons
pany of Cincinnati, o., and the South
Side Improvement Association. the
company will locate in this city. An
nouncement was made today by w. r.
Haughton, local agent of the United
Industrial company of Indianapolis,
that all preliminary arrangements are
completed. The factory will provide
employment for $50 to $50 men and
will be located in the Beallview addi-
ton between Oakland Place and
Eighth street Machine tools will be
manufactured The concern will rep
resent an investment of 100000.
In the contract it is stipulated that
there shall be three brick buildings
in the original plant. One is to con-
tain $4,000 square feet of floor space,
another 10000 square feet of floor
space and the third will be known as
the office building. The plant will
be equipped with thoroughly modern
machinery and operated by electric
power. The South Side Improvement
association offers the company 100000
in the way of an inducement to locate
here, besides providing the location.
Issues Capital Stock.
1t is provided that one fourth OF
this amount is to be paid when the
foundations of the buildings are laid
one fourth when the buildings are un
der roof, one fourth when machinery
is ready for operation and the remain
ing quarter when $50 employees have
been given continuous work for thtr
ty days. In exchange for the cash
compensation the company issues the
Improvement association $4,000 in
capital stock divided into four equal
installments and exchanged when the
money is paid.
AS a means for raising funds, the
association has decided to place on
sale 800 lots in the Beallview addi
ton. The prices will be based on the
location of the lots and will be low as
the association wishes to secure a
large number of investors in order to
create interes st in the factory proposf
tion 1t is probable the sale will be
| commenced about the middle Of next
week. During the period that the In
dustrial company is connected with
the affair, it's headquarters will be
with the Beall & Coffin agency or
South Eighth street. Mr.. HaughtoI
will be in charge. Conveyances viii
be on hand during the period Of sale
to convey prospective purchasers tc
tho location nf the lots
Is Pioneer Plans.
The factory will be the pioneer o.
| it's kind in Indiana. There are bu
few similar concerns in the country
At present the operation of the plant
at Cincinnati is proving successful
and progressive Messrs. John Rahr
and w. H. Carpenter, the member:
of the firm. will remove to this city
and become residents and property
owners.
In regard to the plant, Mr.. Haugh
ton said this morning:
The entire world has been its mar
| ket, for in addition to selling machines
In all parts of the United States, in
cluding the various railroad shops
steel mills and government navy yards
the Rahn-Carpenter lathes have beer
shipped to foreign countries, embrac
ing Germany, France, Spain, England
Italy, Sweden, Japan, Mexico, Soutl
America, Russia, Denmark, Belgium
Australia and South Africa.
"The increased business havin,