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GENEROUS EMPLOYER 1Otto Knoerzer Makes Gift of Factoryto His Old EmployeesAs a reward for faithful serviceover a period of fifteen years, OttoKnoerzer, Hammond manufacturer,has practically given a thriving business to a few of his employes, it became known when Mr. Knoerszer announced that the Hammond FoundryCo., founded in 1896, had changedhandsMr. Knoerzer sold his business tohis men for $60,000; it is said thatthe company makes this much moneyin a year or two of operation, andthat the price is only a fraction ofthe real value of the business. Thosewho benefitted by the generous giftWilliamBarney M. Surdyk of Calumet Cityand Joseph A. Manuszak. There areone or two others who received ashare, and about 25 other small stockholders. The new officers of the company are: Alfred E. Kayes, president;Samuel A. Bell, vice-president; William Cappel, secretary and OttoKnoerzer, treasurer.The Hammond Foundry Co., wasfounded in 1896 by Mr. Knoerzer asa subsidiary of the Champion Corporation, which manufactures potatomachinery and agricultural implements. The works are located in theChampion buildings on Sheffield avenue. The business has grown remarkably, and does work for about 30leading industries in the Calumet region, manufacturing gray iron castings. The men who have purchasedthe business have been in Mr. Knoerz-er’s employ for years, and the manufacturer decided to make the gift asa reward for their services. The purchase price included the land, buildings, equipment and business, and thefoundry company will not operate independent of the mother corporation.The men who have taken charge ofthe business are well known in the region and have, by dint of hard workand faithful service, more than deserved the step upward which hasbeen made possible by Mr. Knoerzer’sgenerosity.The Champion Corporation will continue to do business under Mr. Knerz-er’s direction. The plant and equipment is adequate for 200 employes,although the company has not usedthis many for hte last few years because of agricultural depression.They expect to operate more nearlyto capacity in the future, and thepolicy of employing only enough mento take care of the business will becontinued.—Lake County Times.
Newspaper Details
Calumet City Pointer
Calumet City, Illinois, US
Fri, Nov 07, 1924
Page 7
Full Page
Clipped by
Lake C.
IN, USA 21 Dec 2022
Other Publications Near Calumet City, Illinois
The Calumet News
Calumet City Star
Calumet City Pointer
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