The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-12-18
In Regard TO Paint
Proposition Shows Ono Man
Who Bought Out Interests
Was Reason.
NO HITCH AT THIS END
Industrial Association Stood Ready
to Give Land and Put up
Factory Building a.
Contract Will Show.

One man stood in the way of Keo-
kuk's securing the paint factory, ne
gotiations for which were being car
ried on with the st. Louis people, by
| the Industrial association and F. G.
Stockdale of Chicago, formerly with
the power company here. Correspond
ence relating to the negotiations and
factory was made public today.
D. C. Wray OF the Rabok Manufac-
turing company of st. Louis was the
man., When negotiations had gone
so far as to have contracts prepared,
in which the Industrial association
Iagreed to give tract Of land on the
Rein tract, and to build a building,
land the two paint factories in st.
Louis, which were to consolidate, had
fagreed on the amount of capital, Mr..
Wray, according to the correspond
ence, refused to sell except at fig
ure too high, and in turn offered to
buy the shares of the other members
at par, which he did.
The men concerned in the proposed
deal were D. C. Wray, Isaac A.
Hedges, Louis NJ. Hall, l.. S. Plateau
and T. A. Wray, owners and proprie-
tors of the Rabok Manufacturing COM
pany, and NJ. J. Hurley, owner and
proprietor of the Central Paint and
Supply company and s. Reid Holland,
all of ST. Louis
Isaac A. Hedges under date Of De-
cember Q, wrote to Manager Towne,
of the Industrial association, announc-
ing the failure of the proposed deal,
through the inability to swing d. G..
Wray into line. says:
1--WE even offered to buy him out,
but he would not sell except at a fig
ure we could not afford to pay. He
offered us however, par for our stock
and we took him up, not wishing to
remain in company which would not
avail itself Of so attractive an offer
as you made us"
No Fault at This End.
This letter from Hedges together
with the contract will show that it
was through no fault on the part of
keokuk or the Industrial association
that the deal fell through. The asso-
citation stood ready to give land on
the Industrial tract and to construct
a building to cost not to exceed $500.
The consolidated companies expected
to capitalize at 100000.
When The Gate City's exclusive
-
tiations was secured from E. C. Stock
dale, they had reached the point
where Mr.. Stockdale, himself, saw no
reason for their failing to materialize.
1t was through the action of Wray in
refusing to consent to the move or
the consolidation that the deal fell
through.
stockdaIe is for Keokuk.
A letter from E. G. Stockdale dated
december 8, at Chicago, speaks of
the failure Of the factory to come to
Keokuk and says it was rejected by
Messrs. Hurley, Hall, Plateau and
Holland, although Of course the real
reason it fell through was due to Mr.
wray." Mr.. Stockdale goes on to
speak of the plans Of the company for
refining oil and the move to Chicago.
II fought as hard as could to
swing the location to Keokuk without
results" he writes. II know this
sounds like faint encouragement. but
nevertheless I can say believe that
it is only question Of time. year
or two, until they locate plant
in Keokuk."