Free trader-journal. (Ottawa, Ill.) 1916-1920, 1920-01-03
CO[[APSIB[E CRATE
COMPANY TO BOOST
ITS CAPITAL STOCK
PLANS SET AFOOT FOR RAISING
$20,0CO ISSUE TO 500 ,00O-MEE r
ING TO DECIDE CALLED FOR
JANUARY 30.

a meeting of the stockholders OF
the Ottawa Metal Collapeiblr Fox and
Basket company. was held in the
Chamber Of Commerce Office at so.
O'Clock last neyening The purpose
of the meeting, as indicated in the
call sent out to the Stockholders by
secretary J. l.. Banc, was for the pur
pose OF increasing the capital stock
of the company from $40 600 to 800.
Uu1
Attorney Clarence Grggs pointed
out the law and the necessary pro.
cedurc in order to increase capital
stock, While President J. l.. l}ano
Of the Chamber OF Commerce, out
/ lined thc financial and physical con
ditiOn OF the company. in which ne
said the prospect for some large or
ders Tor the coming year were very
bright and no plant could operate or
| fill these large orders without SUI i
Client money % buy tae material and
| pay for the labor. He said the eXper'
| mental stage had been passed and
! that the market was not now ready
| for the product He felt very conf
! dent with the support OF the business
/ interests in Chicago who were anX-
! ious to purchase stock in the com
pany. that no trouble should be. had
| in increasing and disposing OF the is
sue.
President J. j. Giseke and the city
salesman, Mr. l.. J. Leonard, were
present and told the shareholders
what the company's prospects Were
| for 1920 Most OF the big packers j.
Chicago are now using or about tc
use the basket made by the Ottawa
concern. Where il has been in ser
vice the parties are very much pleas
ed with it and many repeat orders
have been sent in showing that the
product is just what they want.
Tim CreedOn expressed the opinion
that the stock should be incrcascc
and measures taken at once 50 thai
no delays might be occasioncd in the
operation of the plant
J. NJ. Doughcrty said he was sat
isficd that the coming year would DC
a good one for the COliapsiblc com
pany, but that you can't run plan
with a shortage Of money, One cal
load If material would cost now abCu
$4,000 and sufficient money must b'
on hand to hay goods in large quaint
ties and take advantage OF the dis
counts. With the increased capita
and with the modern machinery tina
has been installed in this plant, tn
goods can be turned out at a sayinl
from - to - per cent over that /
originally cost
J. +. Shaiper and Sidney 5tioic
agreed that the plant was a goo'
one and all it required was . little
boosting and not 50 much money
Mr. SNAPPER said the goods has onl,
been sold in Chicago, where there ar
hundreds of cities that has not ic
been touched and he. like Mr.. Stoiol
believed that an amount should sci
aside to he devoted 10 advertising the
products of the company
j. r. Farrell road detailed report
showing the resources AMI liabilities
and in this report il showed the tota|
1s&s, amounting to $23,95S23, witt
liabilities including capital stock and
! bills payable Of $23.33G ST. Upward
of a dozen row machines have been
/ bought and pu. in service TO facili
! tate the ont put of the company
while at present there is considerable
supply of material on hand
Pursuant to the sentiments Of tn"
directors notice has hoca ISSUED to
stockholders for q meeting 10 be held
in the Office Of the company Friday.
JANUARY 80. 1920. at 200 O'Clock D. m.
At which time a vote viii be taken ON
the proposition to increase the cap
ital stock from $2O,Goo TO $loo,o0o