An apparatus for folding paper-like objects utilizing a housing which supports a tray. The tray includes a surface which is angled downwardly relative to a horizontal plane to permit gravity feed of paper objects along the tray. A first roller fixed along its axis is supported by the housing while a second adjustable roller is also mounted to the housing. The adjustment is determined by mounting the axle of the second roller in an eccentric collar which moves the axis of the second roller when the collar is rotated.