Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1913-02-07

4
It was apparent from the first,
however. that there was no disposi-
tion to meet our inquiriers with full
and complete answers. No very de-
finite estimate was made as to the
tcompany's output of machines for the
present year, excepting that there was
a substantial increase. Questioned
concerning the cost of the output of
last year. Mr.. Rayston elaborated on
the necessity of cost system, and
the length of time required to put
one in. saying it would take about a
lyear. When pressed as to the per
lcent of profit in the manufacturing
lend Of the business nothing definite
Twas forthcoming except beads of
Eperspiration on the brow of the audi
tor.
We do not know whether the busi-
mess is on paying or losing basis. SO
far as figures obtained. 1t develops
Ithat there is now nearly six millions
of dollars Of stock issued and outstand-
ling. about two and three-fourths mill
Hons being sold during the current
Iyear. One of the stockholders pre-
i Isent was asked what he paid by a
Representative of the company in an
insinuating manner. The answer was
Igiven by Judge Cover: AS much,
J at least, as President THOMPSON paid
] for his"
A little side light worth mentioning
was that two of the members of the
committee were charged by insinuation
of one of the company's representa-
tives with being grafters. This was
: presumably because a subscription
] fund had been raised by them for con-
centrated action in the interests of
. Isteckholders. Let Us say t. this :
: tfOh consistency, thou art a jewel -
. Think of the heinous crime of stock
8 holder and representative of other
t stockholders insisting upon knowing
something of the financial condition
r of his company Think of the criminal
: instincts in the minds of committee
appointed to represent hundreds OF
r stockholders of the company. when
a they insist upon learning facts con-
Icerning their own company
z Meanwhile, it seemed to occur tc
ll-ors lals,s gr4zentatiyes Of the CON-
e lpany tlat this committee representing
5 whom they did. coming as they di:
: in response to an appointment made
: by the president himself. were per
: haps justified in their desire to see
t the president in person. At least
one of the men slipped out and upor
.t his return a moment later, the com
# mittee were informed that Mr.. W
/; c. Thompson was on his way to th,
conference.
= When Mr.. Thompson appeared h
was not entirely composed. He j
J. generally genteel and suave in ri
ID demeanor, but for some reason h
sr appeared, and remained, "ruffed. ;
W He hegan by bemoaning the fact tha
at constantly his time is being taken u
q to rebuild what ill-intentioned person
II are per3istentIy tearing down. Fl
y used language that would not rea
9. we'll in Y. M. C. A. publication
He intimated that only two points
"a Kankakee, ILL.,, and Eagle Grove. Ia.
20 were making complaints but in tn
,e preceding breath had lamented that
- great portion of his time was bein
n. taken up in adjusting complaints.
r. Upon our suggestion that stock sell
10 ing be suspended until the factor
ne end be more fully developed, we re
" ceived a reply showing that tn
r. thought. in his estimation, was nc
en- worthy of consideration.
at When we suggested that our stock
in holders desired director from thei
Ill own midst. Mr.. Thompson countere
E. by saying that as soon as the stoC
i'd was sold-meaning the entire ten mi
W lion-it was the intention to take
at director from each state. OF course
w these promises for the future do NJ
It. appeal to the stockholders who hav
be been continually side-tracked for som
years by similar glittering prospects
ce This is too much like the chase fC
he the pot of gold at the foot OF the rail
bow. @ -
it's Mr.. Thompson stated that be oWne
le- seven hundred and eight shares
,e. the stock of the company. Upon b
N. ing question as to his salary as pr
,er sident, said: "One thousand dollar
tie per month, and that is not enough.
alf The committee, on further invest
at CATION. outside of Plano. have found
ar new method cf action. WI ich, if use'
at. would undoubtedly shake the con
We pany from top to bottom. For Il
m present we believe that conservati'
action rather than drastic measure
L.. I;a 4ho host noiicx far fha inferests