The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1921-09-27
BOTTOM + ALLS
OUT Of SALE Of
RUBBER PLAN I
Philadelphia and Pottstown
Men Fail To Make An
Acceptable Proposal
JUDGE LEVERINC HAS A
SURPRISE FOR J. G. FEST
Holds Stock In Company In
Which Visitor Was Treas
urer-Now Worth $40

urer-NOW Worth SZU
That a tangible and entirely accept.
able proposition for the purchase of
the property Of the Knox Tire G. Rub.
ber Co. may be looked for from
Messrs. j. G. Feist and c. A. O'Neill |
Of Philadelphia and Pottstown, Pa,
appears to be a relatively remote
probability, II not entirely improbable.
This appears to be the net result OF
the visit made by these gentlemen to
Mt. Vernon on Friday.
Those who met and conferred with
Che gentlemen carefully refrain from
imputing to them any improper mo-
tive but they smile broadly when
questioned respecting the proposition
coming from them. 1t is understood
that several tentative proposals were
sidered, to say nothing of being ac-
cepted.
One such proposal, made in the
presence of Trustee Paul M. Ash
baugh. contemplated the payment of
certain of the debts of the Knox T.
& r. Co., approximately $4,000, the
carrying of the remainder, and the
purchase of stock in the company of
the Philadelphia and Pottstown gen.
tlemen. The proposition was dropped
when Trustee Ashbaugh limited at the
impossibility of handing over to them
property costing $65O,OO0 for mere
$4,000
No reply even/was given to an in
quiry by Trustee Ashbaugh to the ef-
feet would the gentlemen come into a
sale involving the highest and best
p bid"
he visit of Messrs. Feist and
ill to Mt. Vernon proved interest
In a personal manner, wholly un-
cted, to Judge F. o. Levering.
IN he read in The Banner the
l es of the gentlemen visiting Mt.
ION Friday, he was Immediately
ok by one that seemed familiar.
6 ral years ago he had some stock
est in a company developing the
territory of Kentucky. Subse-
4 lily this company sold it's interests
q stockholders receiving in ex-
3 be blocks of stock in the National
4 Ser Co. of Pottstown, Pa. Look.
d through his papers Judge Levering
K the stock certificate for 20
81 es issued to him and bearing the
81 iture of Jacob G. Feist as treas
u The National Rubber Co. is
il porated under the laws of the
81 of Delaware for $25OO,0OO.
o stock now is considered worth.
II by Judge Levering. He never
h Received any dividends on it and,
81 as he has been able to discover
II no negotiable value.
thout loss of time and armed
his certificate of 20 shares of
in the National Rubber Co.
! lowering made it his business
{ sit the office of the Knox Tire
hbber Co. where Messrs. Feist
O'Neill were in conference with
ver Severns. He was not dis
pted in finding them talking ex-
pansively of the concern they repre-
sent. it's magnitude and Importance
in the tire industry, and detailing how
nicely and completely the Mt. Vernon
plant under certain conditions, would
fit into their general plan of opera
tions.
Judge Levering introduced himself
to Mr.. Feist and proceeded to make
inquiry touching the present condi-
ton of the National Rubber Co. and
at the same time exhibiting his stock
certificate. He was told that COM
pany is not doing much at this time,
to which the Judge replied he was of
that opinion inasmuch as he had re-
ceived no dividends. He inquired fur
ther touching upon the possibility of
selling his holding. He was given an
offer of $50 but not with particular
enthusiasm. He declined the offer
and still holds the stock.
This episode appears to have been
the virtual turning point in the me
gotiations." Mr.. Feist appeared to be
taken by surprise to discover any one
In Mt. Vernon with whom he had had
prior dealings. II he had recalled
the matter at all, II had been quite