Title

Letters regarding Hesston Manufacturing Company employment

Subject

business

Description

First, we have a letter dated April 25, 1966 to Mr. Milton R. Miller from Ray Schlichting, Director of Finance at Hesston Manufacturing Company, Inc. discussing the stock certificate representing the Hesston Manufacturing Company Class A Common Stock that Miller had recently purchased. The original stock certificate together with the signed option agreement had been deposited with the Escrow Agent. As a point of information, Schlichting mentions that at a meeting of the Board of Directors several weeks prior, the value of the Class B Common Stock was reviewed and set at $7 per share. The price of Class A stock is not mentioned in the letter.
Next is the photocopy of the stock certificate, which was enclosed in the April 25 letter. It states that both Class A Preferential Common Stock and Class B Common Stock had a par value of $1.00 per Share.
Following that is Milton Miller's copy of a letter dated May 24, 1966 from Miss Marilyn A. Oyer with Mutual Security Life insurance company to The Hesston State Bank. Oyer says that the assignment for a policy for Milton R. Miller has been recorded in their records. She also says she returned a copy of the Collateral Assignment form and completed the Life Insurance Questionnaire, however these items were not saved with this letter.
Next is a letter dated May 26, 1966 from a Secretary whose initials are W.E.D. to The Hesston State Bank. This letter acknowledges receipt of the copy of the Assignment for policy number 144967 on the life of Milton R. Miller to the bank. A completed Questionnaire Form was also enclosed, but not saved with this letter.
After that, we return to stocks. There is an inter-office memo dated May 17, 1966 from Carl Wohlgemuth to Milt Miller to say that stock certificate #101 had been issued and was in the custody of the Escrow Agent. Miller would need to go to the main office and sign the certificate sub to acknowledge receipt. A handwritten note at the bottom of the memo says that he went in and signed the stub on May 18.
The next document is a letter dated January 7, 1965 from Ray Schlichting (Director of Finance at Hesston Manufacturing Company) to Participants in the Profit-Sharing Bonus Plan. The letter was sent with an enclosed check for the recipients' share of the operating profit for the fiscal year which ended September 30, 1964. Schlichting states that the consolidated sales volume for the year had reached a total of $12,557,000 and net earnings reached the objective of 5% of sales for the first time in several years, so bonuses were more than normal for the year. He was also optimistic about the prospects of the 1965 year. The check was not saved with the letter. Two amounts are handwritten in the upper right corner of the page, but it is unclear what each number represents.
Finally, we have a letter dated January 14, 1964 from Ray Schlichting (Director of Finance at Hesston Manufacturing Company, Inc.) to Participants in the Cash Profit-Sharing Bonus Plan. The letter was sent with an enclosed check for the recipients' share of the operating profit for the fiscal year which ended September 30, 1963. Schlichting noted that during the past year most things had been in favor of an economically successful operation, thus in spite of sales of the cotton harvester having been disappointing, overall earnings were still excellent. The check was not saved with the letter, and no figures are noted on this letter.

Publisher

Hesston Public Library

Date

1960s

Contributor

Miller, Milton (Milt)

Rights

Materials in this collection are made available by the Hesston Public Library. To request reproductions or inquire about permissions, contact: hesstonpubliclibrary@gmail.com, 620-327-4666

Format

application/pdf

Language

English

Type

Correspondence

Ephemera

Identifier

coh_F3ltr_010-010f.pdf

Coverage

1960s

Kansas

Hesston (Kan.)