South Bend news-times., 1917-07-24
MILL CO.
IN RECEIVERSHIP
One of MiShaWaka'S Oldest
Industries is Forced to
Wall.

The Perkins Windmill Co. one Of
Mishawaka'S oldest industries, went
into the hands of "a receiver Mon
day afternoon. William Holland OF
the Sibley Machine CO., South Bend,
being appointed receiver. The la
bilities are placed at $15G,O00 and
the assets at about 100000 The
reasons given for the failure are the
high cost of material difficulty in
securing labor and the excessive
wages demanded by skilled work
men. In addition IL is claimed that
war conditions have reduced the pro-
duction considerably. The company
did a very large foreign trade. Eu-
ropean countries being extensive
buyers of the wjndmills which made
the company somewhat famed
throughout the world. South Africa
had been a heavy buyer of the Mish-
awaka made windmill, but after the
outbreak OF the war this trade was
cut off altogether. South America
was also a prolific customer of the
Perkins company. when the war
started a heavy consignment OF
windmills was at the docks in New
York awaiting shipment to Europe,
but was eventually returned TO
Mishawaka owing TO the scarcity Of
steamship space.
Reasons for Failure.
The failure was precipitated by the
refusal of the banks with which the
company was doing business to ex-
tend further credit. It is claimed
the concern is solvent and that its
affairs can be adjusted. The fact
that it could not raise sufficient ready
cash to carry on business is given
as the primary reason of its having
gone into the hands Of a receiver.
The company has been managed
by Ralph w. Smith since Dec. II,
1915. at which time he was appoint
ed treasurer and general manager.
Although Mr. Smith made every ef-
fort to successfully finance the com
pa the burden was too great The
f. dre in no way effects the four-in-
one ladder which is manufactured in
the same building and is passing
through one OF its most successful
periods.
Has Interesting History.
The history of the Perkins Wind
mill Co. in Mishawaka dates back
10 1864 when in the spring of that
year Palmer c. Perkins came 10 the
city from Clayton. Mich. on his
arrival he esta blished what was
known as the Axe factory, having
run a similar business in Clayton.
He afterwards bought out the Be
ment Axe concern and combined the
two In 1857 he took his brother,
Pardon J. Perkins, into partnership.
the concern being known as 2. G.
Perkins < Co. In 1859 Palmer
Perkins patented the windmill, leav-
ing the axe and tool part of the bust
ness in the hands of his nephew.
Newman Perkins. He devoted all
his time and energy TO the develop
ment Of the windmill. the name Of
which is widely known in all parts
IF the world. After being in charge
OF this part of the business for two
years the T. G. Perkins & Co. took
over the windmill. which was man
ufactured in connection with the
companys other lines. In July,
1873, the Perkins Windmill & Axe
Co. was organized and incorporated
with p. .. Perkins as president. He
retained this position until his death,
which took place Feb. ;. 1896.
Appoints New Board.
VI. NJ. Fisher was next elected
president and superintendent of the
concern. r. r. Perkins, as admin
istrator. in June. 1900, sold the ma
jority of stock in the concern to
George NJ. Fountain, at that time
county clerk g., South Bend. and
William r. TLudson Of Lagrange,
Ind officers were elected as fol-
lows. NJ NJ Fisher. president; G.
r. Hudson. secretary; George NJ.
Fountain. treasurer, and w. b. Hud-
son. superintendent. At this time
A. f. Perkins. who had been secre-
tary- treasurer Of the company, sew
cred his connection with IT,
Up 10 the panic of 1896 the COM
pany did a most prosperous business
making shipments TO all parts of the
country.
ON the appointment of Mr.. Smith
as treasurer and general manager,
Mr.. Fountain retained the presiden-
cy. but ovins TO failing health was
not active i'm the business. He made
a trip east. where he has since re-
sided with his family. making an oc-