D. M. Steward acquires company
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[Trade Journal] Publication: American Electrician New York, NY, United States |
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BUSINESS NEWS. · · D. M. STEWARD, Chattanooga, Tenn., who is the owner of all the patents under which the D. M. Steward Manufacturing Company has been operating for years past, has purchased the entire plant and business of the company. There have been for some time serious differences between the Stewards and some of the other stockholders of the D. M. Steward Manufacturing Company, in order to eliminate which Mr. Steward made several very liberal offers for the holdings of the other stockholders. These offers being refused, and it being impractical to operate in harmony, the company was placed in the hands of a receiver, for the purpose of winding up its affairs, and sold at auction by the receiver, with the result mentioned above. These occurrences have not interfered in the slightest with the filling of orders or other transaction of business by the Steward factory, nor will the purchase of the plant by the Steward interests produce any change in business policy or management. There will also be no change in name. · ·
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