The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1910-04-28
DETROIT FIRM TO
Be IN RADIATOR
MtR GER +
United States Heater Co and -Four
Other Large Heating Plants 10
Combine - Headquarters
Will Be in Buffalo.
Plans For Consolidation OF Concerns
Will Be Completed About
June /.

PITTSBURG. Pa. April 27.-A mer'
ger OF i've OF the largest radiator
works III the country. 10 be known as
the United States Radiator Co, Is
being completed here today ana VIII
probably begin business June /. Inc
companies affected are the Cnited
states Radiator Co, OF Pittsourg; the
United States Radiator Co. or Dan
kirk, y. Y: the United States Heater
Co. OF Detroit, and the Herrend. d
Manufacturing Co, OF Geneva. y. l.
Including in the producing power of
the company is the radiator depart
ment OF the j L. Mott iron WORKS, OF
New York city. the product OF whieh
Is controlled by the local radia'cr
company.
Eight millions III stock are author
lied and a million in bonds are being
written. The preferred issue VIII D"
81. 600 900 seven per cent cumulative
or Which S3.2Uu,uUU- hus afrrettr- st-e-Tf
issued. The common stock is $4,000.
900 and So. 2o0 900 of this issue is also
outstanding. Six per cent oohuH
amounting to Sl,000,000 are beng uh'
derwritten by the First Nationa' oanN
OF Detroit and the Citizens wings
and Trust Co. or Cleveland.
K. G.. Gross, OF Dunkirk, y. \, VII
be president OF the new comla any
Henry T. Cole. of Detroit, vice-pres.'
dent. G. c. Blackmore, head or tue
local radiator company, secretary
A, the plant Of the United States Hea,
er Co, Nos. 251251 Campbell-aye., inc
announcement OF the merger was con
firmed BY Henry +. Cole, Nce-presi-
dent. secretary and general mahager
OF the local company, who mas Dee1
Kicked for the ice-preside1cy o. the
consolidated corporation Mr. Cole,
however. takes exception TO the re-
port that any stock is now outstand-
ing. No stock has been issued as yet
he saws, as the company has not re-
ceiyed it's charter In fact, the organ
izaton has not been completed. me
general Offices. Mr. Cole announces.
II. be in Buffalo.
The consolidation cannot tail u
benefit Detroit said Mr. Cole TO The
Times. 1T will undoubtedly mean the
building OF a large extension to the ID
cal plant and the employment OF a
large number of additional men II will
sales branch at No 1873 JeffersOn-ave.
with a consequent increase IN the
working force employed there
THE merger Is in no sense stock
iob0ing proposition. The stock -olders
in the individual companies will be
given new stock in the consolidated
concern and each OF the PLANTS will
have two representatives on the board
of directors
The purpose OF the merger was 70
secure greater economy in operation
7 no cost OF production will re minim-
lied and Implications in the matter OF
branch Offices, freight shipments etc,
will be eliminated Then, too, the in.
dividual plants will be able TO profit
by each others experiences. Good
features of one plant Will be ldoptet
b. each OF the others. while undeslr-
able features will be eliminated. There
will be no material changes in man
ag, ment. and there is no intention 10
advance the price OF the product. Thar
is not the purpose of the corso ldation
The preferred stock of the {, rpora
ton will be represented b. appraised
property values after depreciation
charges have been taken of. The
isaue will not amount to S3,2Oe 600 as
as 81 100000 will BE- in bonds
Outside OF the bonds the company
will have no floating indebtedness aud
will have working capital as ,arge as
the entire investment.
George A. Ducharme IS president
We.N Il enF
Heater Co; Myron G.. Person : assist
ant secretary and Charles 81 Garrett.
assistant treasurer. +. z. Lyman Is
superintendent The plant vas estao-
lishcd mere many years ago.