Tuesday, October 28, 2008


“Well, the last legal owner of the Factory was “The Peoples Mortgage Company” out of Indiana. That Mortgage Company was the sort of noisy outfit that did a lot of advertising about easy credit.
Mark Yonts was the head of it. Nobody knows where he came from and nobody knows where he’s gone to now, but what they discovered the day “The Peoples Mortgage Company” collapsed was that Yonts had sold the Twentieth Century Motor Company to a bunch of suckers out of South Dakota and that he had used it as collateral for a loan in Illinois.
When they took a look at the factory what they discovered was that Yonts had moved all the machinery out and sold it piecemeal.
So it seems like everybody owns the place, and nobody owns it. Everybody lost any money they had in the place, its like the wheels have come off except there are no wheels left to come off. And there's nothing left to own out there anyway.”

“Did Yonts operate the factory before he sold it?”

“Lord no! He ain’t the kind to operate anything. He’s not interested in making money; hes’ only interested in getting money."


petra michelle; Whose role is it anyway? said...

How many thousands of Yonts are out there? Scary, but true!
House on Haunted Hillary? hahaha!

Barbara said...

So is this what happened to our economy?