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Plant Sells for $25,000.Lafayette, Aug. 12.—The old Sterling electric plant, at one time one of the leading industries of Lafayette,' has been sold on a foreclosure proceeding to Walter J. Ball, the purchase price being $25,000. Ball represented a committee for the bondholders. When the works was incorporated an issue of bonds amounting to $100,000 was placed on al lthe properties, and those bonds were taken by the stockholders for the purpose of furnishing capital for the running of the business. Afterward the Sterling Electric works was sold to the Lafayette Electric Manuaftcuring company and that company assumed the payment of the bonds. The Lafayette Electric Manufacturing company undertook themanufacture of an electric brake and the venture was disastrous. The sheriff had charge of the foreclosure sale.
Newspaper Details
Russiaville Observer
Russiaville, Indiana, US
Fri, Aug 15, 1913
Page 2
Full Page
Clipped by
Anonymous
USA 20 May 2021
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