Saturday, October 28, 2017

Additional memo from Mr. Gumbinner 11 Polychrome stock and the first graining machine

Before this Mr.  Mr. Halpern sold me and my wife Kay  some shares of Polychrome stock for three dollars a share.  We needed more space.  To raise money we made a public offering of twenty five percent of the Polychrome stock. It was sold by a brokerage firm in Ohio.  I believe it was Hayden-Stone.  The price was either 7 or 9 dollars a share.  We hired Joe Roth who had designed a building around the corner to be the architect for a new building on the lot.  Mr, Halpern through one of his wife brothers who made purses connected him with Century Engineering which was owned by Ed Harris and made brushing machines to polish the back of the mirrors used in the purses.  .  He built first a one brush machine to experiment with.  He then built a six brush machine in which an aluminum plate was carried by a belt under the brushes.  After which rollers carried the plate through a series of tanks and the solution and rinses were sprayed on. Then the plate went through a squeeze roll coater and infra-red bulb drier.  Unfortunetly we could not process the 4 and 6 inch thick plates.  Even with hold down rollers the ends would curl up’