The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1916-02-01
CARTER-PAELPS
PLAN APPROVED
Industrial Association Directors Put
Their O. K. on Project Which
ls Ready to Offer
Stock.
RESOLUTION rs PASSED
Stock VIII Not be placed on Market
ProniscuousIy, But VIII
Be Offered
Investors.

Plans of the Carter-Phelps Manu-
4acturtng company were given the ap
provaI Of the directors of the Keokus
Industrial association, and the com
pany which is now all ready to offer
its stock is given the support of the
association. The stock Is to be of.
fered to investors and will not be
placed on the market promiscuously.
The Carter-Phelps Manufacturing
company Is the latest addition to the
List OF Keokuk industries. The prod
uct which will be manufactured Is the
Phelps refrigerator show case. The
article Is being taken up readily by
the butchers and all who have perish
able goods to display and the merits
Of the case, wherever introduced, are
such that 1t finds ready sale.
The Phelps case differs from all
others in that the air in the case is
dry. To keep 1t such is the secret
sought by manufacturers OF retigera-
tors from the earliest time. The air
In the Phelps case does not come in
contact with the ice. The air is kept
dry at any temperature OF cold.
The Phelps case allows lower tenn
perature with less ice, than any re-
IL
big item in maintenance, ana the fact
that less ice is needed than in other
cases commends 1t to the butcher
or the grocer, in fact any one who
uses cases for the display of perish
Able goods such as meats and yege-
tables and the like.
The authorized capital of the Car
ter-Phelps Manufacturing company is
$3.50 0O," Mr.. Phelps said. This will
be divided into common stock amount
Ing to s150,000 and preferred stock
amounting to 100000. The stock Of
fered for sale viii not exceed $50
shares of common stock at par value
of 800, and $50 shares of preferred
stock at 800 par value"
Stock IL Turned In.
The present s. G. & s. Carter COM
pany has turned In its entire plant and
the assets, and will receive 525 shares
of stock. The assets have been ap-
praised by an impartial board and
amounts to 1000 according to the
figures given. o. E Phelps is to re-
cetve rs shares OF stock for the ex-
elusive right OF manufacture.
"In addition to the money paid In,
the preferred stock has back OF 1t the
assets and property Of the old Carter
company, making practically surplus
Of $50, 900, as guarantee above the
price paid. The stock will be seven
per cent cumulative and will De pay
oble annually and preference is given
as to dividends and distribution OF
assets.
Can Investigate Plan.
THE investment is considered to be
%ha$ &c y
of manufacture is something which Is
being taken up readily and it is felt
that the possibilities are almost unlim-
dted. 1t is felt that there are few COM
panies with a better future, and that
none with a brighter outlook has been
launched in Keokuk," a member of
the company said.
Persons who wish TO Investigate the
status Of the company will be given
access to the facts at the office-of the
industrial association. They may al
so talk with Mr. Phelps or Mr.. Carter
1f they will make arrangements for
an appointment at the Office OF the
company or with the Industrial asso-
citation.
Resolution Passed.
Whereas, The S. C. & s. Carter
Co, and Mr.. o. z. Phelps have
made an agreement whereby they
are to work together in the manu-
facture of the Phelps refrigerator
in the Carter company plant, Keo-
kuk, Iowa. Have re-incorporated
under style Of The Carter-Phelps
Manufacturing Co. Are arrang-
ing to increase their capital stock
to s25O,00O. One Hundred and Fiji
ty Thousand $3.50, 100000 Dollars
of same being common and $780,
10000 preferred-7 per cent stock
$50, 5CO00 worth OF the common
stock being issued to the Carter
company for the property which
they turn into the new CORPORA
ton and s7,50O00 to Mr. Phelps
for the manufacturing rights
which he grants to the company,
and
Whereas, The agreement men
toned has been carefully consid-
cred by the directors Of the In
dustrial association-the value Of
the property and rights which are
being turned into the company
in exchange for the 100000 of
common stock being believed by
the Association to be fair and
acknowledgements for bust
ness good at a good manufactur-
ing profit-and that the estab-
lishment OF this industry will
doubtless mean much to Keokuk.
Now, Therefore Be It Resolved,
That the Keokuk Industrial asso-
citation gives its hearty approval
to the plans of the Carter-Phelps
Company and commends them to
the public as worthy of all conf
dence.
There have been inquiries ALREADY
regarding the case, and the one which
was built here is giving great salts
faction, It is reported to the associa-
jtion.