Chapman Mfg. Company Reorganize.
The stockholders of the Chapman Manufacturing Company, Indian Orchard, Mass., are considering a plan proposed by a committee of their number for a financial reorganization of the business, which includes the creation of a new corporation of similar name which would take over the entire stock and business of the present company. The proposition includes increasing the preferred stock from $300,000 to $500,000, but also the decreasing of the common stock from $1,000,000 to $500,000. The action is taken at the instance of President Adolph W. Gilbert. The consummation of the plan will place the business on a more advantageous basis.