I See by the Papers...

On September 4, 1915, Luther Burbank met his destiny - or rather, he met the man who would eventually write the book which would define history's view of his life's work. Had Burbank somehow enjoyed a miracle of foresight to know that, he might have spent considerably less of the afternoon grousing about how he was being victimized.

"Burbank was thoroughly angry; his resentment had been growing for months," his biographer Walter L. Howard would write some three decades later. "With flashing eyes he declared that the Company had swindled him out of everything he had, which, of course, was an exaggeration but he was crippled financially, with his normal income from sales having been cut off for two or three years."

"The Company" was the Luther Burbank Company, which had been formed back in 1912 to completely take over the sales wing of his business, giving Burbank a guaranteed annual income and allowing him to concentrate on plant breeding. “I have no time to make money,” he told the Press Democrat. “I’ve more important work to do." (More background can be found in "BURBANK INC." - and by the way, have you read, "THE UNDOING OF LUTHER BURBANK, PART I"?)

But by that late summer afternoon in 1915 the company had only paid Burbank a fraction of what was owed, and that only after he had repeatedly twisted arms. The business was on the verge of collapse; that same month, top management was replaced in a last-minute bid to save it from bankruptcy. Another clue that the company was in serious trouble during the summer of 1915 was that a letter went to stockholders offering to sell them more shares at half the $25 face value, as long as they paid for the stock in cash. But even that was too expensive, commented the San Francisco Examiner, as brokers were offering shares at $8 and not finding buyers.

Looking back, it's no surprise the Company was circling the drain by then - the real mystery is why it was even formed; there was really nothing in its prospectus except for the exclusive right to use the respected name of Luther Burbank.



The rest of this article can be read at the SantaRosaHistory.com website. Because of recurring problems with the Blogger platform, I am no longer wasting my time formatting and posting complete articles here. I will continue to create stubs for the sake of continuity, but will be publishing full articles only at SantaRosaHistory.com.

- Jeff Elliott