Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-02-21

diRnapolis, have agreed to waive their
claims or rights, and they win receive
nothing for their common stock holdings.
The control Of the new corporation will
be vested in the preferred stockholders,
in which the bank interests viii predomi-
nate However, after the new company
has paid dividends on the preferred stock
for two consecutive years, the control
will be IN the hands OF the common
stockholders Of the new company.
Full power for putting the reOrganiza-
ton plan into effect when 4 sufficient
number Of stockholders and creditors
have asseuted thereto Will be in the hands
Of a reorganization committee with the
same personnel as the creditors commit
tee which has been cooperating with the
management of the company for the last
six months.
The stockholders are represented by
preferred stockholders committee con-
sistinc Of William y. Mooney. Leo Rap
paport and Thomas Taggart, all OF In
dianapous H. W Griffith, treasurer Of
the company, Is secretary to this com
mittee.
COMPANY CONTRACTS
FOR 1922 EXTENSIVE.
The company has contracts for engines
for the year 1922 with truck, tractor and
bus manufacturers whose normal require
ments total over two and oue-quarter
million dollars worth OF engines. The
officials Of the company also report that
contracts are on the verge Of being
closed with well-known manufacturers
whose normal requirements would amount
to another s. 900 600 This means that
there is enough business actually IN sight
20 give the roorgauized company an OK
cellent start In addition to this present
business, d large number Of other users
Of truck and tractor engines already
have tested and approved the Midwest
engine aud have indicated their inter-
ton 70 adopt IL as soon as general bus'-
ness conditions improve sufficiently so
that the total engine business OF the re-
organized company may easily reach, in
the opinion OF the company officials
figure Of six or seven million dollars
when It gets well under way. This, with
the utilitor business and the pumps and
turbines manufactured at the Anderson
plant. which, together will ultimately ap-
proximate 100000, is expected 20 pro-
vide profits for the new COMPANY.
The growing demand for Midwest
engines, according to thu officials OF the
company. lies in the fact that Ii Is the
only engine designed specifically TO take
care Of the requirements OF trucks, trac-
tors and brtsses The company was,
therefore. able to introduce an Ell CINE
that on q performance basis has little
or no connection and one which manu-
facturers We're quick TO see the value Of.
Many contracts were obtained at higher
prices than those quoted by competitors.
MANY CONCERNS Use
MIDWEST ENGINE.
The chief manufactures that are using
the Midwest truck and tractor engine
are such well known concerns as Allis-
Chalmers Manufacturing Company Of NIL
waukee Bates Machine and Tractor Com
pany Of Joliet, III. Huber Manufacturing
Company OF Marion, Ohio; Lauson Mann
featuring Company Of New Holstein,
Wis; Din Tractor Manufacturing Com
pany Of Little Rock. Ark; Service Motor
Truck Company OF Wabash, ind; Amer
lean Motor Truck Company OF Newark,
Ohio; Pittsburgh Truck Company Of
Pittsburgh and the Harmer Knowles
Company Of Toronto. Substantial orders
and contracts have also been received
from well known bus manufacturers in.
Guiding the Fifth Avenue Coach Company
Of New York, American Motor Bus Com
pauy Of Chicago, Trackless Transporta
ton Company OF New York, American
Motor Truck Company Of Newark, OHIO,
and the Abbott-DOwuinG Truck and
Body Corporation on Boston Mass.
The Bowen Motor Railway Car Of st
Louis. tho Burton Industrial Locomotive
Of Cincinnati and the Bickle Fire En-
Cline Of Woodstock, Ontario, are using
Midwest engines
The Midwest plant is equipped through
out with new and modern machine tools
Of the best and most approved type for
large quantity production. Before Civ
ing the Midwest Company a contract,
one of the largest truck Manufacturers
Of the country sent their technical and
manufacturing staff to inspect and in
vestigate the manufacturing facilities Of
the Midwest Company, and after the
closest, detailed examination, these par
ticular experts reported their entire salts
faction with the companys unusually
good facilities for precision manufactur
ing I'm quantities.
MANUFACTURES
UTIIITOR TRACTOR.
The Company also manufacturers
small general purpose tractor known as
the UtilitOr. Many thousands now giving
satisfactory service all over the country,
testify to the usefulness and efficiency
of this device. Chief among this years
improvements Of the UtilitOr Is a new
model on which the operator rides This
IS a very important innovation desi Ened
to increase the market considerably.
In this new model. the operator rides
in front Of the tractor and has an uIi-