The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1916-01-06
NO CHANGEIN OFFICIALS MADE
Company Will Have It's Central OFFICES
In Dover But Kenosha Will Continue
to Be Location of Great Plant-Big
Increase in the Capital Stock.

The Simmons Manufacturing com.
pany, Kenosha S largest Wisconsin in
corporation in the industrial line, is
going out of business today and a
retinue of clerks, attorneys and ac-
countants are busy transferring the
assets of the great Kenosha manufact-
uring concern-the largest bed making
plant in the world-to a new company.
The new company is Simmons Com
pany," incorporated in the state of
Delaware
The new company has an authorized
capital stock of $S,000000 of which
$1,000,000 is preferred and $7000.000
common stock. Of this amount
$5,300,000 of the common stock has
been issued. All of the preferred stock
of the company has been placed in the
treasury of the company to take care
of future development of the business.
By the vote of the stockholders of the
Simmons Manufacturing company on
Tuesday the entire property of the
Simmons Manufacturing company was
sold to the new company and the new
holding company also assumes all liza
bilities of the former company. The
consideration in the transfer of the
vast assets of the Wisconsin company
was not made pnAAe, The rev com
9any sss eapitaF sto, I3tie of
$1,300,000 more than The corner
company.
We have organized a new company
under the laws of the state of Della
ware, (" said President 2. G. Simmons
of the company, in order to get the
advantage Of laws which make it
easier for use to carry on this great
business. The home office of the com
pany will be at Dover, Delaware, but
Of course the business of the company
will continue to be done from the Ke-
nosha office. The transfer of ali the as
sets of the Simmons Manufacturing
company to s'Simmons Company will
be made just as soon as the red tape
in connection with so large a transfer
can be carried out.
The new organization will not mean
any change in the policy of the com
pany or in its attitude toward Keno
sha. The vast increase in the capital
stock of the company under the new
organization will make possible the
advancement of the business. The same
men who have directed the policies of
the Simmons Manufacturing company
in the past will direct the affairs of
the Simmons company.
With the announcement Of the trans
fer of the plant to the new company
announcement is made of the opening
of three new branches at Indianapolis,
Ind, Cleveland, o., and Atlanta, Ga.
This will give the company selling
agencies and branches in eighteen of
the leading cities of the United States
and it is probable that other selling
branches will be built up during the
coming year.
The officials of Simmons Company
are announced as follows:
President-Z. G. Simmons
Vice President and Treasurer-A.
ID. Lance.
Second Vice George Il.
Milne.
secretary-Alfred Terrell.
Assist. Secretary Morgan w. Price.
The directors of the company in
clude: 2. G. Simmons, A. H. Lance,
Arthur F. Towne, G. H. Milne, Alfred
Terrell, Otto Rudd, Frank T. Truax,
John F. Gail and Harry NJ. Vail. The
last two directors were added to the
board at the meeting on Tuesday
afternoon.
Chester D. Barnes Of the firm Of
Cavanagh, Barnes and Cavanagh, was
named as general counsel for the COM
pany and he will remove his offices to
the Simmons Offices within few days
and give much of his time TO the legal
affairs of the new corporation.