Evening Republican, Volume 16, Number 48, Rensselaer, Jasper County, 24 February 1912 — LOOKS LIKE WE HAVE BEEN BADLY BUNCOED. [ARTICLE]

LOOKS LIKE WE HAVE BEEN BADLY BUNCOED.

Recent Match Factory Developments Indicate That We Were Easy and That Factory Is Dead One. For some time there has been a growing suspicion that we had been buncoed by the match factory people. This feeling has grown until there is scarcely a person in Rensselaer Who does not think so. It looks as though the cleaning up was just about complete. All the money derived from the sale of lots, all the land except five acres where the buildings are located, including all acre property and all lots platted but not sold to the patriots who purchased the lots, seems to have gone into the hands of the smooth promoters and it looks as though there would never be a match manufactured in Rensselaer. The condition has not broke suddenly upon us; it has been coming on gradually and we have all felt tolerably certain what was going to happen. Last week W. W. Sterling, the president, dropped into town to say that he had purchased the interest of his partner, P. T. Longachre, in the concern. He had' a scheme of consolidation with the Pan American Match Company, of North Baltimore, Ohio, on foot He asked the Commercial Club to send a committee of three over there to look the project over. The Commercial Club promised to do so; they promised like a dying man grabs at a straw. Tuesday Mr. Sterling telegraphed and wanted the committee to go there Wednesday. They could not arrange to go. It became positively known that the consolidation and removal of the Pan American factory here depended upon Sterling’s ability to Sell stock here. There were no suckers in sight. It also became known that all the various schemes and promises of Sterling to get the money and to put the concern on its feet had fallen flat and that there was nothing worthy of the hope of a man of business judgment. Several months ago J. C. Gwin & Co. and the Rensselaer Lumber Co., .filed mechanics Hens on the building to secure themselves for Unpaid lumber and cemenL Other outstanding accounts have not been paid. The credit of the factory promoters has been of a very low order. The money has been spent and much of it not very wisely and the land has been deeded away. This morning part of the cement block machinery was loaded on a car and will be shipped away. Everyone is talking about the way we have been played for suckers and unless we get busy and bring suit to prevent a transfer of the hand and bring suit on the bond, it is probable that the loss will be complete. The Republican is learning of a number df shady aiqi a complete exposure will be made within the next few days.