McKean County Miner
May, 11th 1909

Cutlery Plant May be sold in few days

Parties have been negotiating for it for some time.

They may be here this week.

If plant is sold it well be operated here for a long term of years price is practically agreed upon if all stockholders will consent to sell.
It looks now as though the Smethport cutlery factory, which has been idle for a long time, may be sold in a few days to thoroughly practical men in this business and if this deal is consummated this plant will be started in operation in a short time with a large force of men with good prospects of its running full time for a long term of years.
For the past three months Horace H. Redfield has been corresponding with these parties relative to the sale of this plant and matters have progressed so far that these prospective buyers are expected here in a few days to look over the plant and if its proves satisfactory after inspection a deal will be closed at once.
The committee that was given power to dispose of this plant, of which Mr. Redfield is a member, has offered it at a very reasonable figure and we feel certain that the prospective buyers will realize that they have a good thing and take advantage of it without delay. On the other hand it will be a good thing for the stockholders if the plant is sold at the proposed price, because there is a mortgage against it that will be foreclosed in a short time unless something is done with the plant so that the holders of this mortgage can get their interest; and if the plant was sold at forced sale to satisfy this mortgage the chances are that it would bot bring enough to pay the claim, let alone allow the stockholders anything.
Of course if this deal goes through the stockholders will be losers on the original investment, but as half a loaf is better than none, we as one of the stockholders think it is the best thing to do.