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Mn.i"s A* tto UMlian sad MMtnotlca ef tt* plant hivi bnn MVirtd bgr prrrUss r*p*rU, this detail is saittsd* Location Is excellent fr track distribution la the Metropolitan arse and itee Jersey because if nearby ferries and the vehicular Ua> nel* flOgS ef shlpaente ass move bj track hat coed facilities and raise are available fer rail shljpaent late the eastern states* has aterials are readily available at las asst and freight* Merchandising The present reefing aershaadislag plan ef selling le sealers* jobbers, spoileaters and even eensonere has resulted in bellding no establishment ethleh scald be ef advantage te ear seasag, gales are neatly snail ia aneoat and the fev large sales found ia Augoat sere at special discount prices* There are ns veil* established brands ef products and ns one nans except that ef the eenpaajr is associated eltb all prodsetc* a soaplete nee plan ef sales aoald be neoeaaarjr end ear eon dealer eetablishnent bailt up the sene aa if a nee plant nsre bailt* pips severing sales are te hardsare stores and plashing supply house and scald net interfere elth oar dealer eetablishnent if continued ea present linen* Plant buildings and equipment are excellent and storage epaee la aepia* though poorly used* plant capacity la ancle for present eatpat cf about 1600 rail aqaarespar 9 tier day* Beef nee hi ns capacity ean be lnereased to 4900 rail squares per day by doable shift and te 6000 roll Squares per day by additional cooling equipment and doable shift* The paper aaehlns baa 34 tea capacity* 80f used for reefing felt* 80g far building paper and to< fer pips severing papers. This allsee only aosagh felt fer 1800 eqaqrs* per day and ecoaalenal sndajri era run te nuke additional quantity needed far present reef* lag business* By el ininoting neaafaeture ef building papers (vhieh la expensive) there mould be enough fait paper far 1980 rail squares per day and by speeding paper mill ulth additional equipment te 60 ton par day rate enough paper for 6800 roll squares per day eeuld be node, galea beyond this scald require purchase cf felt paper* This plant could act be scanted ea te produce felt paper for cor ether reefing plants as its capacity 1c net great enough. Quality ef products appears goed bat ia motrailed by rale ef thumb nsl hade * Beoantly redactions ia the neight ef products have been mmm wnwnitm patents Vs patents of s nejer shorestor eeali be sbtstnsd nitb Uis property* potent for fill dahlbelt shingles has boon assigned to 8Shares th* bat nyaltles af %r par sgiara ulth a sin less of flOOO CS003 0814  par jmt an paid t ibt fimr mbit, ir, vhltner*. Xexagan and allthaler shingles and brisk siding ara aanafestured under Umbm from the no. Carp* All sUer reefing predusts ara nea pstented gsods* xr* sdamtii am patent* <a his pyrsbeataa pi pa MftriAK, all ether plpa HTtriofi ara nea-patented Itew* lanageaanl la a/ vary la* srada* All direction la la iha hands af uTomTad iha departnsat heads and foreasn have lliila knotl* edge af ar Interest la ass is sad soatrsl sxsspi is asst require ments laid do*& hj aaaar* Thara la aa asa eepahXe af directing ibis plaai la iha erganlaaUsn sad la event af acquisition by uso a nansgar aoold haws io ha ahialasd* . casts Ho aasi figures aars svailabl# hai dais aars gstharad sad costs oalaalsiad* Thasa figures indiesia aoaia ie ha abnormally high la aplie af Is* saga ratal aad ihs raasaa la fewnd la poor nanagsaoat, high handling costs aad iaprspsr ss of etorugs faciliUaa* Roofing conversion Mata ar* fully &G higher than at south Bond* hoi ara posoiblo of reduction to that level under proper aanagamoot and with the expenditure of asveral thoueanrt dollars for handliag equipment* paper conversion to aot high hut 1a a aoapoaite of felt and ashestoe paper aoaia which la difficult to break down* Un der proper aanagoaent this conversion aaat should bo reduced from 1*V7 to 11*00 per ton hat an Increase ia poreontag* of felt paper aoold offset this redaction* Costa af pipe covering and liquid roofing ar* also somewhat high and eeald be rodaoad 10 ta Xfijf# Betarn af the high eoat af natorlals labor oonstltateo only about COg af final aoaia and therefor substantial aaat reductions aoold re quire careful us* af raw materiel and proper buying* prices paid at Escent appear In lino with market conditions* vasts at present la gh* vaiaatlsa - A 0*osa plant valae of approximately 1,400,000 was arrived at* This at present seats would probably ba replaced for 11*100,000 ta 1,100,000* Baaed on Mr* 8shareslh*a Idas af welling for 1/S lees than replacement value (aa doteralnsd by cutelde appraisers) would fix a price an above values at 710,000 ta 600,000, It Is doubtful If a paper all! and roofing plant with stills and adequate storage scald be belli In the Xetrepell taa area for leas than 710,000 and XT* Maid astlaates 1,000,000* In the saneldarmtlan of the acquisition af this plant the following shooId ba borne in alnd* vs would asquire only a good aaanfacturU| plant without dealer establishment ar goad will and with little ar no aanafmaturing and tnsgaaspt ability and super!sows* It lumv then a qaeetlea af the ralatlva narlta aad eeaaany af this plant versus a ace ana* glnoa It appears the senstrusties af a new plant weald east nearly aa wash aa the asquisitlea af this ana and sines this plant appears ta have the narlta af goad bonding* and eqalpnant sash aa as weld plaaa In a new plant the acquisition af this plant is dssirahla. It ssald give aa practically everything ** weald have la a new plant and sen14 permit aa ta start building car CS003 0815 mm auUni mfiag acUUiilMQi taMdUUlj ratter then te te lijr*d fr tte mmItmUm tf ami plant* rertter, It if ptflMi ttet ander tte reefing eeda m mid Mi te ptrailM te ereet fleet* If Udf plant eeeld te perateeed far $760,000 tte --ant if noney lavaa tad In th pipe severing teelneaa eeeld te relatively eeall end this line eeeld be dleeentlneed altteat ereet capital leae IX It ware farad te te amrefliable* XX Xeend profitable, lie sale eeeld te expended threegh addltlenal epeelaltj nan vitbeet eenflie* tlee eltb rufiac er etter beildlng eaterlal ealee* SSBr&MWZ Free tte above it eeeld appear aaanaale te perehaae thle plant for tte leeatlen and aamfaeterlng faellltlee and te expedite use entry late the eastern reefing Held, provided tte perehase eeeld te aade for $760,000 or leee* It le eaggeated ttet eeeb an offer te aade te tte eeaara ratter than reeert to aaa of eetelde appralaero* Detailed axblblta eX seats, prloea and otter Inferaatlen ere attatted* Report by j & Davie