Source: North Manchester Journal, April 18, 1895
NOTICE to intending purchasers of FARM IMPLEMENTS Such as
Threshing Machines, Self Binders, Mowers, Hay Tedders, Hay Rakes, Grain
Drills, Broadcast Seeders, Cultivators, Spring Tooth Cultivators, Sulky Harrows,
Plows, Corn Plows, Carriages, Wagons, Etc. And In Fact Every Implement Used on
It will be to your advantage to write to us for particulars and other information before making any purchase.
N.B. -- All goods manufactured by us are sold direct to the Farmer. We are the sole owners and manufacturers of the well-known REX WIND MILL.
AGRICULTURAL IMPLEMENT AND SUPPLY CO.,
North Manchester, Ind.
Source: North Manchester Journal, August 1, 1895
The Agricultural Implement and Supply company, of this city, seems to be in a bad row of stumps. For some time rumors as to the unsoundness of its financial condition have been afloat, and on Tuesday Robert Matler, one of the stockholders, made application for the appointment of a receiver on the grounds that the company was insolvent. It appears that the concern, which began business here several months ago with a flourish of trumpets, had very little capital to do business on, which, coupled with a very poor trade, has swamped the concern. So far as we have been able to learn the liabilities of the company are about $8,000 with only nominal assets. The Lawrence National bank, which holds claims of $2,000 or $3,000, is the largest as well as the only secured creditor, the bank holding a chattel mortgage on the stock and manufactured goods on hand. It appears that the assets will only about satisfy this claim if they do that. This, of course, ends the career of the factory under this management. The real estate and mill revert to Aug. C. Mills and the purchasers of the lots according to the agreement made when the lots were were sold. Dayton C. Harter has been appointed receiver.
Since the failure of the company M.L. Butterbaugh and Robert Matler are perfecting arrangements to continue the manufacture of the cultivator made by the company. The cultivator is pronounced one of the best implements of the kind ever put on the market and is coming rapidly into demand. These gentlemen are not decided yet where they will have their factory, but they will begin business as soon as arrangements can be perfected. Both have been heavy losers in the factory deal and the JOURNAL trusts that they will be successful enough in their new business venture to recoup their shattered fortunes. Both are enterprising young men and deserve the utmost public encouragement.