Hassler Manufacturing Co., Inc.
List of Deals
The Hassler Manufacturing Company was created in 1926 in order to acquire the assets and debt of Robert H. Hassler, Inc., an Indiana company that manufactured spring shocks, stabilizers, and shock absorbers for automobiles. As Hassler himself put it, "My interests have pyramided to the point that I am desirous of getting out of the manufacturing business." Hassler had been active in the early development of the automobile, working on Waverly Electric vehicles at the turn of the twentieth century. He was one of the founders of the Empire Automobile Company in 1909.
In the deal, Robert H. Hassler assigned his property, business, trademarks, and many patents to Hassler Manufacturing, an Indiana corporation. A list of the patents is included in the deal book; most of them deal with shock absorbers, suspensions, and springs for automobiles. Hassler also agreed not to create competing shock absorbers for the succeeding five years. Hassler also forgave a personal loan of $150,000 he had made to Robert H. Hassler, Inc. In exchange, Hassler Manufacturing paid $200,000 in loan debt owed by Robert H. Hassler, Inc., and acquired the company. In 1926 the total assets of Robert H. Hassler, Inc., were $1.3 million, with $380,000 in liabilities (including $200,000 in bank loans and $150,000 owed to Robert H. Hassler).
Also in 1926 the board members of Hassler Manufacturing created the Hassler Realty Company. Hassler Realty was organized as an Indiana corporation designed to acquire and rent out property in Marion County, Indiana. Hassler Realty issued 7,500 shares of no par value common stock and 1,500 shares of $100 par value preferred stock to raise money for its investments. Hassler Realty immediately leased its property to Hassler Manufacturing.
At the time of its creation, Hassler Manufacturing held $918,000 in assets and $27,000 in liabilities. These net assets were divided between Hassler Manufacturing, with $741,000, and Hassler Realty, with $150,000.