The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1908-11-26
Sale of Last Assets Of Visible
Typewriter Co. Show Cred
itors Will Get Nothing
BADGER TO USE OLD PLANT
Lamp Making Company Plans to In
clude This as Part of Their
Plant When Sale is Con-
firrned by the Court

Creditors of the Visible Typewriter
company scattered ali over the United
States will get practically nothing for
their claims against the company, as
the sale of the old plant, formerly
owned by the company by the referee
in bankruptcy in Milwaukee Friday,
practically disposed of the last asset
Of the company. Trustee in bank
ruptcy Carroll A. Atwood after the
sale of the plant declared that in his
opinion there would be absolutely moth
ing to divide among the creditors and
|if there should be anything the credi
tors will not get more than a few
cents. Before the sale of the plant
assets to the amount of 5000 were in
the hands of the trustee and while the
plant Melted the trustee $4,000, when
the expenses Of the bankruptcy are set
tied there will not be enough funds
left for even the creditors to make q
respectable fight over and it is proba-
BILE that the creditors will accept the
few cents on the dollar, possibly five
cents, and put the rest Of their claims
to profit and loss The total liabilities
of the company reached the high sum
of $4,000 and there was nothing to
balance these save the plant and the
materials on hand. The patents of
the company brought nothing and the
plant brought considerably less than
had been expected by the people in
terested in the settlement. It was
claimed by the trustee that the plant
represented an expenditure of $4,000
and if this is a fact the Badger Brass
company in purchasing it for e$25,500
got decided bargain. The claims of
the creditors vary in amounts from
100000 down to few cents and there
will be no sense Of a fight by preferred
.creditors as the total assets Of the com
pany when the expenses of the settle
ment are made would not be enough to
pay the interest due on the claims.
The sale of the plant to the Badger
Brass Manufacturing company must be
approved by the United States Court
before the property can be turned over
to the Kenosha company. The plars
Of the Badger for the new building
should it be awarded to them by the
court on the bid made Friday have
not been fully completed, but it is the
plan Of the company to ultimately
make it part of the big lamp-making
part Of the company w. L. Yule had
a characteristic answer ready when
asked in regard to the plans of the
company. "You see, 'said Mr.. Yule,
"all the people who have attempted
tc operate this plant have gone at it
from the wrong side. A half a dozen
companies have attempted to make a
success of this plant by going in at
the front door and they have failed,
We are going to see what can be done
with it from the rear"
The property adjoins the present
property of the Badger Brass company
and for some time the company has
seen g demand for an enlargement of
the plant in order to make = large
pressroom possible. with the new
property it will be possible to extend
the pressroom to the cast until it is
united with the plant purchased Fri
day. 1t is thought that this plant
as well as the present plan of the com
pany can be operated on the same
power, It is thought that the pur-
chase of the plant will make it posi-
BILE for the Badger company to largely
increase if not double it's output if
the demand for the product is seen.
It has been limited that the company
would bring the New York plant to
Kenosha, bat this is not included in
the plan now made by the officials.
1t is expected that the court will
hand down an order either approving
or disproving Of the sale of the plant
within the next few days