The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1920-05-27
OFFERS BIG
BOND ISSUE
Kenosha Co. Offers to In
vestors Bond Issue Of
Half Million Dollars.
SHOWS BIG GROWTH
President of Co. Issues State
ment Showing Advancement
of Kenosha Industry.

The MacWhyte company, formerly
che Macomber and Whyte Rope com
pany of Kenosha, has announced that
It will offer for sale to the general
public on June 1st of this year, an
issue of first mortgage serial 70 sink
ing fund gold bonds to the amount Of
half a million dollars. The bonds
promise to be one of the most inter-
esting investment securities ever of
fered to Kenosha and already a large
amount Of the issue has been sub
scribed The bonds are issued for a
ten year period and the money secured
is to be used in taking care of the big
program of the re-organized company.
The serial bonds are made payable
from year to year until 1880 with
the understanding that the last Of
them will be paid on June /, 1880.
The bonds are being offered and
recommended for investments by some
Of the best financial companies in this
section of the country. In connection
with the offering Of the bonds for sale
the company, through its president,
George s. Whyte, has submitted a won
derful statement of the growth of the
business in its quarter century of work.
History of the Business.
In the statement, President Whyte
says: "This business was established
in 1896 by myself and associates, all
Of whom have sold out to me and my
friends since that time, Our original
capital was $4,000, which was increased
from time to time. The total amount
Of capital actually paid in does not
exceed $4,000. As our net worth at
this time is about S1,750000, you can
see that the bulk Of our earnings have
been left in the business. AS a mat
ter of fact, this has been our policy
from the start and accounts for our
good credit and excellent financial
position.
Originally we were organized to sell
rope manufactured by others We
gradually drifted into the manufacture
ing end Of the business, so at this time
we have two complete manufacturing
units, one for the drawing Of wire from
steel rods, and the other for the manu-
facture of wire rope Our raw ma
terial is purchased in the open market,
our product being used principally in
connection with drilling oil wells,
Nh2isting coal from mines, logging and
skidding in the lumber regions, on
passenger and freight elevators, and
all sorts of transmission machinery
Ind cables, used for haulage and tow
ing. In a general way, any user of
rope of any kind is prospective Gus
toner for wire rope, which we claim
should supplant hemp rope, chains,
link belt, and rods, on account of its
greater efficiency and economy. We
have expanded our manufacturing
plant during the past few years to
meet current demands, but our pro-
gram for the present is now completed,
and with this financing, we believe we
will be in very independent position.
Security.
The $50O00O bonds which YOU have
purchased are direct obligation of
MacWhyte company, which company
has a net worth as per report Of your
auditors and appraisers, Of about
S1,750,0O000. The deprecated value of
the land, buildings, machinery and
equipment alone, which is covered by
this first mortgage, amounts to about
two and one-third times the amount
Of the bond issue, and, in my opinion,
could not be duplicated for this amount
Our plant is located on a fifteen
acre tract Of land, lying along the
northern city limits of Kenosha, and is
connected by our own siding with the
Chicago and Northwestern railroad
Our buildings, twenty-one in number
are all of modern steel, concrete and
brick construction, and our insurance
rate is fifteen cents. We have agreed
to carry the maximum amount of fire
insurance and deposit the policies with
the trustee for the benefit of the bond
holders, One of our buildings consists
of new two-story Office building, 10.
Gated directly across the street from
the main plant containing eighteen
thousand square feet of working space
This building was put up last year anc
contains lunch room and all modern
conveniences for the executive and
the Office force.
taken all III all, we De1eVe Inat we
have the most modern, convenient ant
efficient plant in the country for tbs
manufacture of the products nance
and that BY following conservative
financial and manufacturing policy, al
we have always done, our business vii
continue stable and satisfactory.
Purpose of Bond Issue.
We had accumulated certain floating
Indebtedness during the past year Of
two in finishing up our construction
program and the proceeds of the pres
nr4 hnnh issr1n IRE 20 he risnd 10 ,.oAirl