The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-08-10
MASTERS co,
is CONSIDERED
!. AT MEETING
Tractor Motor Manufacturing
Company President Pre-
sents His Proposition to
Richmond.
MAY COME TO CITY


citizens met in the high school audi
torium Monday night to investigate
a proposal to move the plants of the
Masters Motor corporation, traction
engine manufacturers, to Richmond
The meeting was called by the it,
dustr1al fund committee of the former
commercial club. D. H Palmer, pres
ident OF the motor company, gave p
detailed report of the corporation and
discussed the tractor business in gen.
eral.
The committee Of five men to be
appointed by Mr. Dill will have the
responsibility of examining all the
statements made by the officials Of the
company.
ut will be necessary" Mr. Dill said
Tuesday ''for this committee to find
out whether the statement made on
Monday night that there are just five
companies manufacturing traction en-
gines is correct.
Must Investigate Personnel.
TT will also be necessary to inves.
tigate the personnel Of the organiza
tion and find out just what type OF
men are connected with the company
1t was not brought out whether Mr.
Palmer was connected with the Erd
Motor company before it was absorbed
by the Masters corporation.
"The first question asked when q
company is considering moving its
plant" Mr.. Dill said, Tuesday, "is.
Why do they want to move?
This question was answered right
at the outset of Monday nights meet
ing. 1t appears that the present plant
Of the company occupies city block
and is hemmed in on all four sides,
without any possibility of expansion.
Another very good reason for NOV
ing is the fact that shipping facilities
at the present plant are very bad.
1t appears that Saginaw is not on the
main line of a railroad and that the
shipping must be done through two
branch lines.
Causes Them Much Delay.
"Since the materials used by the
factory are shipped largely in less
than car load lots, it has caused n
great deal Of delay to bother with
branch lines. According to statements
of the company's officials, it has been
necessary many times to truck sup
plies as far as 100 miles.
These conditions at Saginaw make
Richmond, centrally located as it is.
with splendid railroad facilities, a
much better location for factory
than the presnt site Of the Erd Motor
company.
'It will not be difficult, Mr. Dill said,
to get q factory site for the company,
in case arrangements are completed
for them to move here. The company
will require a site Of approximately
Il Iiyoev
territory so that it may expand.
1t is proposed to build the plants on
the unit system with future expansion
by the duplication Of units. The an
nual capacity of the individual unit
will be 10000 to $4,000 motors.
May Employ 500 Men.
With an annual production Of ap-
proximately $4,000 motors. Mr.. Dill
said, the company would employ about
500 men.
In case arrangements are completed
for the company to move here the next
problem to come up will be the ques-
tion Of housing the workers. 1t will
be up to Richmond people, Mr.. Dill
stated, to get behind the industrial
committee ard do their share to re-
Heve that problem.
In case the Investigations OF the
committee appointed by Chairman
Dill reveal satisfactory status on the
part Of the company, Richmond people
will be asked to show their confidence
in the company by subscribing for
stock.
The company sets out as its reason
for relncorporatiOn the facts that 1t
must have a largely increased capac-
ity to keep abreast Of the demands
Of its existing customers and primarily
to make possible an attractive. invest
ment for purchasers OF the corpora
tion's stock.
May Sell Stock Here.
The company does not ask Rich
mond to give 1t a bonus, furnish a
factory site, or give them a factory
building 1t will be necessary. how
ever, If the company moves here, to
issue $750,000 worth Of stock In that
case Richmond people would be asked
to show their confidence by subscrib-
ing for approximately $150,O00 worth
of stock.
According to Mr.. Palmer there are
only five companies engaged in manu-
featuring tractor engines. The Erd
Motor is said to be the oldest Of these.
The Masters Motor corporation has
purchased practically all of the out
standing stock Of the Erd company,
with the purpose of increasing the IA
cilities and working capital.
Based Upon Physical Values.
Mr.. Palmer stated that the outstand-
ing stock of the corporation is based
upon physical values only properly
verified by disinterested chartered ac-
countants with no capitalization Of in
tangible values. All Of the proceeds
from the sale of treasury stock are to
be employed directly in the business.
The Erd motor is a vertical, four
cylinder. four cycle, valve-in-head
motor for tractors and trucks. 1t op-
crates with either gasoline or kero-
sene 1t is said that 90 per cent Of
those in service are operating on
kerosene and are rendering a superior
performance. The entire present out
put is absorbed by the tractor indus.
try. The Erd company does not man.
ufacture any parts of a tractor nor
even ignition systems.
In his talk to the mass meeting Mon