The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1921-12-29

period of its attempt TO build q fab
rieating business or through the ac-
QUESTION of plants of more limited
capacity, an experience which followed
to some extent the entrance of this
company into the wire business at
Great Falls, it was decided to UNDER
take negotiations along the foregoing
line.
During the tendency of negotiations
all plants were visited by the chair
man of the board and the president Of
your company. In addition to this a
physical valuation of plants WAS made
by Messrs. Laist, Carroll and Robinson,
respectively, metallurgical manager,
superintendent of the Raritan refinery,
and chief designer and estimator of
yOhr company. Their report shows q
valuation largely in excess of the book
value shown on the balance sheet.
Vast Liquid Asset.
In addition to the plant value the
company had on hand, as shown by
the certified audit of Messrs. Price,
Waterhouse & Co., as of December 81,
1920, liquid assets above enumerated
totalling $29010,571.44.
1t has been manifestly impossible to
take complete inventory and make
a complete audit of the books as of a
later date; but there is exhibited with
this letter a statement prepared by
Messrs. Price, Warehouse & Co., show
ing the book condition as of September
30, 1921. This statement shows q to-
tai of s24,sS5,176.sS in liquid assets of
the company. The plant value, upon
the basis of the offer which it proposed
to make, represents $20,664, s2332. 1t
will be noted that in the above figure,
good will, patents, ETC., constituting
the intangible assets of the company,
are carried at only $1,000.
In addition to the direct advantages
and elements of value embraced in
this. situation and to which the under
signed have given serious thought, the
indirect beneficial results that would
insure to the benefit of this company
have been considered.
AS an illustration, during the pres
ent year, because of the inability of
this company to market its copper and
SIM output, the necessity was forced
upon it to suspend operations, which it
is estimated will cost $6,000,00O.
During this same period the plants
of the American Brass company have
been operating upon a basis which.
with the quota of this company of the
sales of the Copper Export association.
| would have enabled this company to
have produced 100000 pounds of
copper and at least 100000 pounds
of zic per month during the entire
period Of the shutdown, without any
accumulate of metal stocks. This
would have enbaled your company to
have avoided the necessity for closing
its plants, and resulted in the saving
of the above shutdown expense, and
would have been stabilizing factor
to the entire copper industry.
Without detailing the negotiations
and the various counter tentative offer;
and propositions which have been made
1 ~ "es hNa.Iy osclosa py the board oil
utfestofs OF your company to authorize
| the chairman of the board and tht
ptesius"t o. your company to make
can Brass company, to acquire not less
than 5lb Of the stock of said company
PN' PtoO S'sH' ahe
49, F as - .re sIooA u your com,
pay y ' @se'ss@se Par Saiue o.
ASSETS
Real estate. machinery too1s a. hoo,;nn
ress-cbarcs5 off for denreo;otio,
Wood lands Observation-Disclosures.
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