Rensselaer Semi-Weekly Republican, Volume 36, Number 81, Rensselaer, Jasper County, 3 June 1904 — Its Babcock & Hopkins Company Now. [ARTICLE]

Its Babcock & Hopkins Company Now.

The proposed temporary transformation of the grain and elevator firm of Baboook & Hopkins is now fully completed, and its name for some time to come will be the Baboook & Hopkins Company. Tbe articles of association have been recorded here and filed with the secretary of state, at Indianapolis, and the deed for all tbe elevators and other property has been put on reoord, Tbe capital stock of tbe company is 150,000 divided into 500 shares of slooeach. The directors of the company are Wm. C. Babcock, B. F. Fendig, Geo. A. Williams, Emory B. Sellers, and Jesse E. Wilson. Each of the directors bolds one share of tbe stock and the other 495 shares are held by Jesse E. Wilson, as trustee for tbe Biboook’A Hopkins Company. B iboock & Hopkins will operate the business and pay at least $6 500 per year, and probably more, to the trustee, who will distribute all such payments to tbe various creditors pro rata with the amount of their claims. As fast as the trustee is paid, he transfers a share of the stock to Baboook 4b Hopkins for every SIOO he receives. No definite period is set f r r the termination of this trust corporation, but if it extends more than one rear, the yearly renewals must each be approved by the Judge of the circuit court. It is not thought likely it will need to continue more than one or two years.