The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1923-08-23
WHITTIER PLANT
Is STILL UNSOLD
Two Active Bidders Appear
But Referee Holds
Up Sale.
FINAL BIDS THURSDAY
Wisconsin Manufacturing Co.
of Racine and Stockholders
Committee Only Bidders.

The assets of Whittier Motors In
corporated, are still on the market.
After an hour of wrangling at the
office of Referee in Bankruptcy Mil
ton ]. Knoblock, in Racine, during the
noon hour, the referee adjourned the
hearing until Thursday morning at
eleven o'clock in order to give rather
persistent bidders a last opportunity
to present their "last bids" for the
property.
The bids offered today showed that
the assets of the company would
bring in the neighborhood of 100000.
Combinations of bids were necessary
in order to secure this sum out of the
assets. Two active bidders appeared
at the last hearing in an effort to
secure the assets of the bankrupt
company. The recently organized
stockholders committee was on hand
with a bid of $4,000 for all the
assets, including the interest of the
company in the earth boring machine.
This was put up against a bid of
$105,000 made by Attorney Wallace
ingalls, of Racine, in behalf of the
Wisconsin Manufacturing company of
Racine. This bid excluded all mem
ton of the property connected with
the earth boring machine for which a
price of S7,250 had been offered.e Dur
ing the morning the stockholders COM
mittee raised the bid to $4,000.
Would Move to Kenosha.
It is understood that the Wisconsin
Manufacturing company plans to re-
move It's BUSINESS TO efrUsfra- IF -rfiTe'
company is successful in buying the
main building of the WHITTIER plant.
It is understood that the company
can utilize the plant Immediately. 1t
is understood that the stockholders
organization also plan on the opera
ton of the plant, but no announce
ment has been made of the plans of
the company other than for the TAX
ing over the plant and personal prop
erty. The stockholders proposed 70
pay S27,500 today and the remainder
Of the purchase price was to be paid
in a period of four months. The
offer made by the Racine parties
was cash offer on delivery of the
deeds to the property.
Neither of the bids included what
is known as, the MARVIN plant, but
both included the personal property
in this plant. A. Dasso, of Sheboy-
gan Falls, one of the larger stock
holders of the company, made an Of
fer of $4,000 for the Marvin plant
and it was understood that this bid
was regarded with favor.
Sharpen Pencils and Re-bid.
Over the protests of some of the
men who had made purchases at the
recent auction of the personal prop
erty the two main bidders were given
the chance One of the men who had
bought the Service rights at the
auction, asked for permission to with
draw his bid, but this was not al
lowed. Judge" Knoblock declared
that he wanted to get all the money
possible out of the assets and that on
this account he would adjourn the
final sale for twenty-four hours.
After adjournment was taken there
were many conferences, but none of
them brought any definite statements
as to what might be expected on the
morrow. 1t was regarded as possible
that the referee might confirm the
sale of the personal property and a
part of the real estate and have the,
remainder left in the hands of the
referee for a more advantageous sale.