Inter-Mountain Republican | 1907-04-21 | Page 13 | Groendyke of Chicago Buys Utah Implement

GROENDYKE OF CHICAGO BUYS UTAH IMPLEMENT PLEM ENT J. J G G. of Chicago has hou bought ht the thc Utah Implement company for fol Such was the tho announcement of Manager John Q Saturday Satur day upon his return from Crom the time East liast where he went to attend a meeting if the tho company's compans directors Mr 11 dlee will come to Salt Sall Lake in a a. short time and will reorganize the Iho company with his own anal local capital and barring unforeseen barriers time the business bustness bust busi I ness will win bo he carried on as smoothly as ns when it was first established The Time troubles of lie tho Implement company date dato from last fall when sev sov- several several eral oral of oC the stockholders who were not satisfied with the m management of or the I company's affairs asked that a arc receiver be appointed for the tho concern A A. compromise com com- com I promise was wa effected and Mr Ir was appointed manager of or the limo company with Instructions to bring about a settlement of or the difficulty that thal would as near nearly as possible be he satisfactory to the thc creditors the stockholders and nil all concerned it was believed pd that th the company's s assets were above Its liabilities lia Iia- and that by judicious manipulation tion the bu business could be made mode to J pull Itself out of or the time difficulty into which It had fallen n But l money W was WS S not forthcoming fast enough to suit stilt some of oC the creditors who threatened to force tho the concern Into insolvency and Manager Critchlow Critch- Critch low was Instructed to dispose of the business at nt the best figure uro obtainable Local Lucal parties partie bid bill for tor tho rho company's compan com com- pan pany's s holdings 8 but Mr Critchlow be be- lieving that he hc could get Jet a better price looked for bidders In the East Bast with the thc result stated above c It Is 18 said that tha th the price received will fall sin short rt of or the company's liabilities by about t but tho the directors of or the company compan when the they were ver made tho the offer by Mr r Groendyke were glad slad to accept it i