Rensselaer Semi-Weekly Republican, Volume 36, Number 51, Rensselaer, Jasper County, 16 February 1904 — Barcus Company’s Big Strike. [ARTICLE]

Barcus Company’s Big Strike.

Boy a S2SM Hart for ; George thej firm of George Bt|rci# t Company* patentees apd manufacturers of the flarcus Stocks, was over at Wabash.; lasi Saturday, and closed np what ’fe; undoubtedly, the best bargain ever made by a Jasper county firm. It was the purchase, for his company, of thw plant* of the Stai* Manufacturing Company, of Wabash, which company failed some fime ago. through bad management, and was in the hands of a receiver... ' The company was organized and equipped to manufacture gasoline engines of nearly all sizes, and on a large scale If had a big new building, with 12,000 feet floor space and a very complete machine thop, and foundry in connection. The building and equipment, both new, represent a recent investment of about $27,000 When it went into the receiver’s hands last year, it was appraised at $24,000, and was expected to sell for that. Later, there being no buyer at that price, it was again appraised at $12,000. And not se ling even then, it is now sold to our townsmen for* $7,100. The creditors in general will get 4® cents on the dollar, and Wabash merchants who hold SB,OOO of stock will get nothing. Barens & Co have not fully decided what use will be made of their big purchase.ln all probability however. tbey-wiH move tha. horse stocks factory there, and. also continue the ■ manufacture. ,of gasoline for which the plant is specially wt-11 fitted.* 1 There are other lines of manufacture also, which are being considered and may be made a part of the company’s future business. But while the building and grounds at Wabash can not be moved, and while Wabash has other advantages, such as several railroads and trolley lin s, there are several reasons why the B reus people' would prefer to stay here, if they can without too great a financial sacrifice. B ere they are nearer to Chicago, the great distributing center; apd to Joliet where their horse-stocks castings are made. If they stay here they would expect to move the Wabash plant here, and develope a big manufacturing businedk. But they will not stay at too large a financial sacrifice.