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HREVIEW
V O L X X X I V . N o . 16. Published Every Saturday by Edward Lyman Bill at 3 East Fourteenth Street, New York, April 19,19M.
KRELL-FRENCH IN NEW CASTLE, IND.
A Great Plant to be Built For Them—More Lib-
eral Inducements Offered Than at Springfield —
Incorporate in Indiana With Capital Mock of
$ 5 5 0 , 0 0 0 All Paid In—Will Continue in
Springfield Temporarily.
[Special to The Review.]
Springfield, U., April 14, 1902.
The Krell-French Co. have definitely de-
cided on locating in Xew Castle, Ind., and
have issued a formal notice to the people of
this city to that effect. They express thanks
for and appreciation of the many courtesies
extended before and after the fire and state
that self-interests alone compel them to part
from Springfield. It appears that the prop-
osition made by Xew Castle was much more
advantageous and favorable than that of-
fered by the people of this city.
Of the new move Albert Krell, president
of the Krell-French Co., said to-day: "We
will re-organizo under the name of Krell-
French, under the laws of the state of In-
diana, with a capital stock of $550,000 all
paid in, of which $300,000 is common stock
and $250,000 preferred stock, said preferred
paying six per cent, semi-annually. Our
buildings there will not only be larger but
will be built according to our plans and
specifications, and the equipment will be as
fine as we had at Springfield prior to the
fire.
"This new building will be a tliFee story
brick, which will be in four parts, divided by
fire walls, laid out as follows: No. 1 build-
ing, 60 x 250, No. 2, 60 x 200, Xo. 3, 60 x 200,
Xo. 4, 60 x 350 boiler house on the outside,
50 x 75, with kilns 50 x 100, capacity 500,000
feet monthly, with switch connection from
three truck lines entering Xew Castle ; Pan
Handle, Big Four, and L. F. W.. with am-
ple fire and water protection.
"While this magnificent plant is being
built, we will continue to manufacture here
on a limited capacity of about twenty per
week. We will have pianos ready for the
market toy the ioth of May.
"Our entire force are enthusiastic to join
me at my new location and our stockholders
and directors are one and all in accord with
this new organization.
"Xew Castle is a city of about 5,000 inhab-
itants, beautifully located and is called the
Paradise of Roses. The greatest industry
centered there is green houses, raising the
finest of American Beautv and other roses."
Papers of incorporation of the re-organ-
ized concern have been forwarded to the Sec-
retary of the state of Indiana, and the of-
ficers and directors will be as follows: Al-
bert Krell, president; Jesse French, vice-
president; Otto Bollman, second vice-pres-
ident ; E. B. Pfau, secretary, and C. L. Den-
gler, treasurer.
PROTECTS CREDITORS FROM FRAUD.
New
Law Requires Seller and Buyer to Warn
Them—Secret Deals Declared Fraudulent and
Void, When Warning to Merchants Interested
in the Businesses Sold is Not Given in Time.
Honest merchants feel they have cause for
jubilation about the new law framed to
thwart dishonest dealers who are in the habit
of selling out suddenly and leaving creditors
in the lurch. This law, known as Senate bill
Xo. 818, has just been signed by Governor
Odell and took effect immediately. Hereafter
an owner of a business must give five days'
notice to as many creditors as can be reached
in that time. When this is not done the sale
is fraudulent and void. Even the sale of a
large portion of merchandise composing a
business must conform to the provisions of
the new law.
AIMED AT RASCALS.
The bill was urged by the New York Credit
Men's Association, whose members, as one of
them said Tuesday, have been annoyed greatly
in the past by the "rascality used by dishonest
men to make a rapid fortune. The honest
man has no fear if obliged to sell out his busi-
ness in having his creditors know the inten-
tion, but the fraudulent dealer by this law will
be obliged to show his hand, and the fraudu-
lent buyer will take a great risk in making his
purchase without informing the creditors of
the seller."
THE LAW IN FULL.
The law in full as enacted is entitled "An
Act to Regulate the Sale of Merchandise in
Bulk" and is as follows:
Section 1. A sale of any portion of a stock
of merchandise other than in the ordinary
course of trade in the regular and usual pros-
ecution of the seller's business, or the sale of
an entire stock of merchandise in bulk, shall
be fraudulent and void as against the credit-
ors of the seller unless the seller and pur-
chaser shall at least five days before the sale
make a full and detailed inventory showing
the quantity, and, so far as possible with the
exercise of reasonable indulgence, the cost
price to the seller of each article to be in-
cluded in the sale, and unless such purchaser
shall at least five days before the sale in good
*3.oo PER YEAR.
SINGLE COPIES, io CENTS
faith make full explicit inquiry of the seller
as to the name and place of residence or
place of business of each and every creditor
of the seller and the amount owing each
creditor, and unless the purchaser shall at
least five days before the sale in good faith
notify or cause to be notified personally or
by registered mail each of the seller's credit-
ors of whom the purchaser has knowledge, or
can with the exercise of reasonable diligence
acquire knowledge, of some proposed sale and
of the stated cost price of merchandise to be
sold and of the price proposed to be paid
therefor by the purchaser.
Section 2. That, except as provided in the
preceding section, nothing therein contained,
nor any act thereunder, shall change or affect
the present rules of evidence or the present
presumptions of law.
Section 3. This act shall take effect imme-
diately.
ESTEY ORGAN CO. EXPANDING PLANT.
[Special to The Review.]
Brattleboro, Vt., April 14, 1902.
The Estey Organ Co. will erect a large new
factory for their pipe-organ business. The
work will be begun in a few days. This new
branch of the Estey industry has grown
with unexpected rapidity.
WILL REMAIN IN LIMA.
From present indications the Piano Truck
Manufacturing Co. which it was thought
would remove from here to Findlay, will
very probably remain in South Lima. While
there was some consideration given to the
proposition to move it is quite likely they will
remain. The working force has been in-
creased and the concern is prospering.—Lima
(C).) Times-Democrat.
THE MASON & HAMLIN ORGAN.
Georg Aleff, Jr., Conductor of 'Music at
St. George's Church, Hamburg, Germany,
writes as follows of the Mason & Hamlin
organ:
"I have the pleasure of informing you that
1 have carefully'examined the Mason & Ham-
lin organs here in Hamburg, and beg to say
that they have pleased me in every point of
view. The instruments excel in fullness of
tone, beautiful timbre, and especially by the
highest individuality of the various sets of
reeds. The exterior finish is very fine and
promises great durability.
"It gives me real pleasure to congratulate
you on the perfection of these instruments.
T certainly shall recommend the Mason &
Hamlin instruments as the best I know."
The Shoninger warerooms on Fifth avenue
are now replete with new styles in uprights.
The case-designs and veneers are exception-
ally attractive.