Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1913-02-28
PREFERRED STOCK $4o-s65.
Machinery Discount" Stock
Offered with No Buyers.

OAAOACN Will ANO 0Qy CASs
More light on the affairs of the
Independent Harvester Co. is offered
| by Farm. Stock and Home. and in
view of the fact that this stock has
been offered for sale here, we reprint
what the Farm, Stock and Home says.
1t will be noted that preferred stock
of this concern ranges from $40 bid
to sos asked, and that the machinery
discount stock gets no buyers in the
open market because it follows both
the preferred and common stock in
case of liquidation.
Farm. Stock and Home says -:
In view of the fact that informa-
ton has come to F., S. & H. that
agents are operating in the Northwest,
selling Independent Harvester Co.
Plano, ILL.,, stock at $125. 90 share,
an Investigation was made to ascertain
the actual selling price of this stock
in the open market worth. Under
date of February third. Dudley A.
Tying & Co.. Chicago. writes:
"Re can furnish you stock of tie
Independent Harvester Co. at around
65 to 75 per share. That's the trading
at these prices in the last few weeks.
If anyone is buying this stock we can
save them money"
| e. McNeal & Company. Chicago,
write under same date:
"With regard to the Independent
Harvester Company find that this con-
Germ was incorporated in 1904 under
the laws Of Maine with factories at
Plano, H.. where they have numerous
buildings and an experimental. farm.
Acreage of property 153 acres. The
company have branch agencies thruout
the United States. They have author
lied capital of 50. 800 600 common,
$500. coo. per cent cumulative pre-
ferred and $1,000, 600 preferred
machinery discount stock. Total
| $40. 600. 600.
"Just how much, of this stock there
| is outstanding st the present time we
lare unable to sag But do know that
|, there has been considerable amount
of machinery discount stock offered
lin this market without buyerss This
lis undoubtedly due to the fact tllat
the preferred and common stock both
come in ahead Of it in case of Iiquida-
! / tion or dissolution. g
''The nominal market for the pre-
| ferred stock ranges from $4,000 bid
to $65. 90 asked and theIast sale OF
common stock that we have been able
, to find was on the basis of $40. 90 pei
share. We trust that this will give
you the information that you desire. y
The foregoing should be sufficient
to cause anyone approached by stock
! salesman fpr this company to unchair
J the dog, There is, great sdissatisfac-
tion among the stockholders of the In
dependent Harvester Co.. and ar
, investigation into the affairs anC
, management of the company By :
! large group Of stockholders is now un-
] der way. Among other charge.
brought is that of ostensiblv paying
! exhorbitant prices for patents. wher
in point of fact such payments were
mere subterfuges for dive ting stock
n holders money into the Golfers of ;
! few insiders.
Il The truth or falsity of this yer.
! serious charge, will of course come
i out during the investigation. F., S
& H. has never at any time had mucl
faith in the ultimate success of th'
Independent Harvester Co., and ha
on several occasions refused to adver
!. tise their stock and given warning
against investment in same, whic
it is hoped has been needed.
4 From the prices quoted above, it j
quite evident that many purchaser
are dissatisfied with their investmen
!. and are trying to save thernseive
q further loss. For concern that ha
. been organized nine years and neve
= paid dividend, to attempt to sell it
. stock at $125. 90 a share, twenty fiv
percent above par, indicates beauti
: fuI faith in the gullibiEity Of huma
.s nature.