Evening Republican, Volume 17, Number 8, Rensselaer, Jasper County, 9 January 1913 — ED. HERATH WILL ENTER BUSINESS HERE [ARTICLE]

ED. HERATH WILL ENTER BUSINESS HERE

Has Arranged to Represent Independent Harvester Sold to Local Farmers. c- - r- ’ f ’■’T ~~~~. : y Ed Herath, who has been livipg northwest of this city and who recently held a public sale, has arranged to engage in the farming implement business in Rensselaer, representing the Independent Harvester Co., of Plano, Hl. Mr. Herath visited the factories of this company at Plano last week and it is understood purchased two carloads of machinery. For the present it is intended to rent a room for the business, but if the plans of the Independent company work out the company will itself erect a large building here later and have the business installed therein. For the past six months E. E. Plimpton, of Plano, has been in Rensselaer selling stock in the Independent Harvester Co. to Jasper county ftrmers. In an interview which he gave the writer today Mr. Plimpton states that he has sold stock to 34 persons here, a total of 191 shares. The shares have a par value of SIOO. Prior to January Ist, this year, they were selling sls above par and on’January Ist the x price was increased to $25 above par. Something like $20,000 worth of stock has already been sold to local farmers. Mr. Plimpton states that the company has sold about five and threequarters million dollars worth of stock and is building a plant of great magnitude at Plano. Last year the manufactured product of the company was $2,500,000, which was more than the value of the product during the six previous years of the company’s existence. Walace’s Farmer, a reliable agricultural paper, has recently been tearing into the Independent Harvester Co. and charges that the money is not being properly used and that thefre has been crookedness among the higher-ups. A recent issue of the paper stated that a committee of lowa stockholders of the company had visited Plano and made a thorough investigation with the manner in which things were being conducted. Mr. Plimpton charges that the International Harvester Co. is behind the movement to discredit the Independent Co. He says that any person is welcome to visit the factory and that he does not, want to invest until they have made the fullest investigation of the thorough responsibility of the company.