The Cycle Age and Trade Review, Vol 23, No 87
Articles in this issue
- Major report on the restructured American Bicycle Company, with capitalization cut from eighty to forty million dollars, divided between bonds, preferred stock, and common stock.
- Disclosure of the payment formula for factory owners joining the combine: thirty percent cash, thirty percent preferred stock, and fifty percent common stock, totaling one hundred and ten percent of agreed value.
- Report that Charles Flint, president of the rubber trust, has been brought into the American Bicycle Company by receiving options on the tire plants within the combine.
- Report that R.L. Coleman and R.P. Gormully, after holding out for full cash payment, agreed to accept the revised terms.
- Narrative account of the serious difficulties the combine promoters faced, including bankers unable to raise capital and makers threatening to withdraw.
- Analysis of how Flint's objections to the original combine plan contributed to the delays and the ultimate reduction in capitalization.
- Discussion of what will happen to the roughly sixty manufacturers who gave options but will not ultimately be purchased by the American Bicycle Company.
- Racing results and club news from cycling organizations.