From Rochelle IL and doing Whitcomb Research

machinehead61 Jun 13, 2012

  1. machinehead61

    machinehead61 TrainBoard Member

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    This and the following 2 pages give background history of the Whitcomb Company not known to me before.

    Very happy to find this.

    Steve
     
  2. machinehead61

    machinehead61 TrainBoard Member

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    Paragraph 2 is very important and I believe it to be true. William C. Whitcomb did allow Carl Heim to basically take over the financial operation of the company. This turned out to be a huge mistake.

    Paragraph 3 answers some other questions I had.. I didn't know how or when Baldwin came into the picture before this document.


    Stevce
     
  3. machinehead61

    machinehead61 TrainBoard Member

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    Paragraph 4 accuses both Heim and Whitcomb of illegally issuing themselves "old common capital stock".

    Paragraph 5 states the total amount that Baldwin was invested into the Whitcomb Company for was $537,500. THAT IS A CHUNCK OF CHANGE FOR 1928.

    I read in this case that George Houston didn't become president of Baldwin until 1929 - so this means that Baldwin's initial interest into Whitcomb was started before Houston came to power.

    Steve
     
  4. machinehead61

    machinehead61 TrainBoard Member

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    The last paragraph on this page shows how bad business was for Whitcomb.

    1931 - lost $64,383.09
    1932 - lost $128,501.07
    1933- lost $69,090.03
    1934 - lost $45,068.41

    Total operating losses from 1931-1934 = $307,043.19

    Then add the $537,500 initial investment and the $257,000 they paid in the bankruptcy to buy the company and you get . . .

    $1,101,043.19

    Baldwin had sunk over $1.1 million into a losing company by 1934.

    1935 Baldwin declared bankruptcy.

    Steve
     
  5. paperkite

    paperkite TrainBoard Member

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    How fitting to take the METRA to research another road... great follow up .... and I bet the ride was pretty cool ... Great work following the trail ....
     
  6. machinehead61

    machinehead61 TrainBoard Member

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    Thanks paperkite.

    I forgot to add the $125,000 promisory note to the money sink hole called Whitcomb.

    Total Baldwin sunk into the unprofitable Whitcomb Company through 1934 was $1,226,043.19 - give or take a penny :startled:

    Over $1.2 million and no profit. The Great Depression was not kind to locomotive builders.

    Steve
     
  7. machinehead61

    machinehead61 TrainBoard Member

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    This is an internal memo from the Chicago office of Baldwin to the home office alerting them that W. C. Whitcomb has dicovered that Mr. Heim has been stealing from the company. For months Heim had been delaying a Baldwin audit of the Whitcomb finances and for very good reason. Mr. Whitcomb and family had been gone on yet another European trip while the Fox was left guarding the hen house.

    Another side note is that by this time a Mr. Guest had been the office manager of Whitcomb and had suspected that someone was stealing from the company. He was fired by this time - most likely by Mr. Heim.

    Steve
     
  8. paperkite

    paperkite TrainBoard Member

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    Good grief , no wonder Baldwin filed ... nice work Steve , Mr Heim looks to be the scoundrel indeed . He, Mr. Heim , must have been pretty smooth talker to have gotten that far ( four years ) that's assuming he is the one responsible for the losses .
     
  9. machinehead61

    machinehead61 TrainBoard Member

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    Note that on the first page in the second paragraph it states that Whitcomb had phoned Heim in Knoxville (he wasn't sure). Later, Heim was arrested in Tennesssee according to the Rochelle newspaper story. What and why Heim was down there I don't have a clue. My next search will be the Ogle County court house and the arrest/extradiction order for Carl Heim. I hope that the police photographed him when he was processed and posted bond. That will be my first photo of the infamous Mr. Heim. I hope to find the criminal prosecution case for Heim.

    Curious enough, by the 1940 census, Mr. Heim is listed at his same Chicago address as the filing member for the census. He listed his occupation as a vice president of a company!!! 4 years of college education. I hope to find out more on Heim and his background.

    Steve
     
  10. machinehead61

    machinehead61 TrainBoard Member

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    This add printed in January 1944 in a Rochelle newspaper shows that by then Whitcomb had been unionized. I have no idea when.

    http://www.fi.edu/learn/case-files/baldwin/breakdown.html

    It appears that Baldwin had been unionized early and when they gained contol over Whitcomb I wonder if the union was instituted in Whitcomb as part of the Baldwin/union contract? But would that have to wait until after the bankruptcy was finally discharged in 1938?

    Steve
     
  11. machinehead61

    machinehead61 TrainBoard Member

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    From the Rochelle News, Thursday January 21, 1932 comes this story that is following the criminal case against Carl Heim.

    Monday I'm contacting the Ogle County Court archives and see if I can request this case.

    Steve
     
  12. machinehead61

    machinehead61 TrainBoard Member

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    Just found this add from 1950 on the net.

    Steve
     
  13. machinehead61

    machinehead61 TrainBoard Member

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    A very productive day. I have located a grandson of William Card Whitcomb. He has informed me that one of W.C. Whitcombs' daughters married into the Harvey family of Harvey Girls fame:

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    The grandson and his cousin both live in the Greater Chicagoland area. I plan on getting together with them in a couple of weeks and swapping notes.

    Steve
     
  14. machinehead61

    machinehead61 TrainBoard Member

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    In 1929, Whitcomb laid claim to building the largest gasoline locomotive in the world - 100 tons. This photo came from the Rochelle museum and I believe it is of that 100 ton gas locomotive.

    Steve
     
  15. BoxcabE50

    BoxcabE50 HOn30 & N Scales Staff Member TrainBoard Supporter

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    That one does look quite chunky. The ladder and walkway are certainly unusual.
     
  16. machinehead61

    machinehead61 TrainBoard Member

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    Pretty darn ugly.


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    The Rochelle News, Thursday January 28, 1932

    I find it hard to believe that Mr. Heim wasn't convicted, but he still faced another charge.

    I've been playing catch-up around the house and research hasn't seen much time.

    Steve
     
  17. machinehead61

    machinehead61 TrainBoard Member

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    Today I stumbled across this find given to me by a man whose father worked at Whitcomb. Baldwin magazine Third and Fourth Quarters 1949.

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    A great find.

    If anyone wants, I can scan the entire 32 pages.

    Steve
     
  18. machinehead61

    machinehead61 TrainBoard Member

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    I finally got around to editing the Wikipedia article on Whitcomb:

    http://en.wikipedia.org/wiki/Whitcomb_Locomotive_Works

    I'll add some more later. Now I have a comprehensive history to write by next June and the annual Rochelle Railroad Days. Some people said they will buy a copy if I write it.

    Steve
     
  19. BoxcabE50

    BoxcabE50 HOn30 & N Scales Staff Member TrainBoard Supporter

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    Quite a job you have done. I never had a clue there was so much to know on this subject.

    Also, looking at the second picture in post 117, you can easily see why many folks are attracted to modeling in scales such as On30, HOn30, etc. Those little critters are sure neat!
     
  20. machinehead61

    machinehead61 TrainBoard Member

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    When I started, I had no idea either.

    I think that a very large volume of these smaller builders has gone unnoticed by the modeling community. I eventually would like to build a large scale model of the very first Whitcomb IC mine locomotive if drawings/photos are available.

    If none available, a large scale model of their WW II 65 ton military locomotives sent to Europe. These had armor plate and I've never seen a model of one built.

    Our local gift shop has a builder's photo of one of these armor plate locos.


    Steve
     

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