Norwich bulletin., 1911-07-22

ga4ding the rumor that the plant would eventually be taken away from here, Mir. Brewer said that would never han- pen. It was started as a Norwich con- cern, and it will remain so, he said. The men, he said, intend to operate the present plant and will come here to live. In tflo first place it was desired to purchase the plant with the idea of taking it out of town, said MT. Brewer. That proposition, he said, was turned down cold. and the entire deal was at first thought of unfavorably by a mum Der of the large stockholders because of the chance of it's going out of town.
 Capital is $3oo,oOo.
 The plant at the present time is one of the best in the country. There are over 400 hands employed there anI business is good The capital stock is $300,000 and there are bonds out to the amount of s200,000.
 Not to DismantIe.
 It has also been rurnored that the securing of the control was for the purpose of turning it over to one or more of the large firearms factories for the purpose of taking it out of the way as a competitor, but President Brewer denied tha. there was anythi lg to such a statement, as far as he knew. MT Brewer stated that he had agreed to dispose Of his entire stock. As it
  to act upon except individually there will be no meeting, said the president, that he knew of until the reorganiza : tion meeting after Aug. 2d
 New Haven Men Interested.
 It has been reported that r. T. Max well, William Maxwell and M. C.. Ma son of Rockville. G. E. Avis and s Avis of New Haven, as well as other New Haven and Connecticut men, are interested in the deal. MT. Maxwell stated on Friday that he is not one cf the men who is backing the propo- sition and he felt that his brother was not. s. R. Avis of Nek Haven wa5 unwilling to give out any information ccno erning the deal and would not confirm the report of his connection with if. Mir Avis until a few years ago was a contractor in the Wincheste. factory.
 c F. Avis was unwilling to give out the nan es of the prospective owner s until after the entire matter had been put through, and the brokerage firm was likew ise silent relative to whom they represented.
 No Companies Concerned.
 It was stated, however. by one in q position to know that it is not the in- tention of the new controlling owners to take the business out of town and t was also stated with the same degree
 
 Repeating Arms company and no other firearms concern is back of the deal. The new owners, or part of them. in tend to come here and run the factory. They desired only to secure 51 per cent. of the stock, but by the terms of the agreement they will take all that $ rendered at the given figure, or one half the par value.
 A New Haven man stated on Fridas that the matter has been quite pub- licly discussed in that city for the past few days in certain circle. A num- Der of people have become interested in the possibilities of the factory, there being none better, and they have raised suffi cient money to gain the control desired. It is possible. he said, that former employees of the Winches- ter company are interested in the deaf The names of the buyers have been kept as quiet there as here and it was impossible, he said, to learn who are backing the deal.
 The present company has been in eX istence for the past eleven years. sue ceeding similar company which was burned out. the business havin~ been started in 1868 by men experienced in the gun and pistol making business.