The Detroit times., 1910-04-27
DETROIT FIRM TO
Be IN RADIATOR
MERGER
United States Heater Co. and Four
Other Large Heating Plants To
Combine - Headquarters
Will Be in Buffalo.
Plans For Consolidation of Concerns
Will Be Completed About
June l.

PIT1SBURG, Pa, April IA nel
ser OF five OF the largest radiator
works IN the country, TO be known aS
the United States Radiator CO., ~
being completed here today and WIKI
probably begin business June /. me
Companies affected are the Uhileu
states RadiatoT Co. OF Ptttsbats i--he
United States Radiator Co, OF Dan
MIX, y y. the United states heateT
CO.. OF Detroit and the Herrehd.n
Manufacturing Co, of Geneva. \ !.
Including in the producing power ol
lie company is the radiator depart
ment OF the ] l.. Mott iron WORKS. OF
New York city, the product or "h'' n
Is controlled by the local radla'"r
company.
Eight millions in stock are authof
ized and million in bonds are being
written The preferred issue VIII o'
$4,000 900 seven per cent comulatlNe
Of which s3.20V.0o0 has ALREADY peeA
-4-s+44.4l-4.he-e common STOCK Is 81 Q0O.-
900 aud 50 .2c0, ono OF ;his Issue Is also
outstanding Six per cent bonds
amounting TO $l.O0000J are beng I'M
dcrwritten by the First National bank
% Detroit and the Citizens wings
ard Trust Co OF cleveland
Il G. Gross. Of Dunkifk, \. l.. VII
be president OF the new COM any
Henry T Cole. OF Detroit, Ylce-pres'-
dent. G &. Buckmore, head Of the
local radiator company secretary
A.the plant OF the United States Heat
e., Co Nos. 25l.251 Campbell-aye., the
announcement OF the merger VA con
Gnned bN Henry + Cole. 'iCe.presl.
utnl secretary and general mahaSe'
Of tho local company. who mas beei
licked for the prcSdenc\ o. the
consolidated corporation. Mr. COie.
tuSyeNer takes exception TO the re
pert that auy stock is now outstand-
irE. No stock has been ISSUED as yet
~ says. as the company mas not re-
c.!yed its charter Ia fact. The orEan
ization has not been completed Tn
general Offices Mr. Cole announces,
II. be in Bunalo.
The consolidation cannot tail u
benefit Dcuoit. said Mr. cole to The
Zines IT will undoubtedly mean the
binding al large extension 20 the 10
cal plant and the employment OF I
l4.2e number of additional men II viii
also increase the importance o. our
sales branch AT 30 l59 JeftereOn-ave"
Win a consequent increase IN tn
poIkine force employed thare
The merger Is in NO seine stock
joboing proposition The stock olders
in the indiyidual companies will be
eivcn new stock in the consolidated
concern and each OF the iauls will
tave Two representatives on the board
u directors
The purpose OF the merger was TO
1 secure greater economy in operation
! he cost OF production will ne minim-
p, ized and Implications in the matter o.
Wrench Offices freight shipments etc,
lvnl be- eliminated Then, too. The in
,diy idual plants will be able TO profit
,hv each others experiences. Good
ageatures OF one plant will be idopte 1
~. each of the others. while undesir-
~lblc features viii be. eliminated There
ywili he no material changes in man
ment and there is no intention TO
taGyance the price OF the product THAI
tia rot the purpose OF the cor3o idation
II The preferred stock of the G, rpora-
Alton will be represented b. appraised
! property values after depreciation
J, cLarges have been taken of. The
F, issue will not amount 10 $500, 900 as
I stated. as 81 100000 will BE- in bonds.
Outside Of the bonus the company
viii have no floating Indebtedness and
I, will have "A working capital Is arge as
(. The entire investment
! George A Ducharme g president
aud treasurer OF the Uni,ed States
Heater co. Myron G Pierson : assist
ant secretary and Charles IS Garrett,
assistant treasurer. r. r. Lyman Is
superintendent The plant was estab-
lished mere many years ago.