Clipped From Butler County Democrat
Very Pro m i n Is The Big Works Combine, Â»THE 1MB The Leading Trade Journal's Comment Concerning The Deal between at of the Davis The Commercial and Financial 1 World .of New Yorlc, a recognized authority in tlw business world, Ims the following of much interest to Hamilton people, Involving as It docs our leading Industry: "None of the great consolidated corporations formed during the current year has before 11 better prospects of success, or a better justification for existence, tliiin the Xilcs-Ilcinont-Pond company, which was incorporated the other day under the laws of New Jersey, w i t h a capital of $8,000,000, In $3,1)00,000 of 0 per cent, cumulative preferred stock and *.j,000,000 of common slock. "This is a consolidation of four of the leading tool and machine making concerns of the i'nltcd Stales--The NilcsToolWorks company of Ilamil" ton, 0.: the Pond Machine Tool com. puny of Pluitiiield, N'. J.; Bcment, Miles \- Co., of Philadelphia, mid the Philadelphia Engineering works of Philadelphia. "These arc all solid, prosperous, going concerns, employing in the aggregate some :i,000 hands and turning out Immense quantities of first class work. "At a meeting held on Tuesday, August 15, Col. Robert C. McKinncy, of Hamilton.O., was elected president, on the otlice in for No. 7, Now it at ted. and Mr. C'has. L. Cornell of the same place, treasurer. The Iwarcl of directors is made up as follows: Alexander Gordon, president of the Miles Tool works company; C'has. A. Moore of Manning, Moorc Maxwell, of New York: Clarence S. Bement iincl Frederick B. Miles of Dement, Miles Co., Gordon Sliillito, Tlios, T. Gaff and Daniel JI. Holmes, of Cin cinnati; Frederick AV. I"!onion, o: Philadelphia: (!co. T. Rciss and Jnincf K. Cullcn, of the Nilcs Tool Workt company: E. C. liurke, of Cleveland O.; Walter L. Clark, of the Niies Too Vorks company-, A. C. Stebblns, of 'ond Machine Tool company; W. 'IcKlmicy, of Httshurg and Col. iobertC. M c K l n n e y . "Tlio other olllwrs of the company are J as. 1C. t'lillcn, lirst vice-president: \. ('. iStcbblus, second vice-president; iV. L. Clark, third vice-president; M. C. Davis, secretary; F. lJ.Milc.sand licoi'gc T. Reiss, engineers. "This Is a nulably strong tody ncn, as all competent critics of natters will be aware, ant) there be no question as to the complete success of an undertaking under such control. "This company has been brought into existence along lines t l w t quo. There have been no promoters, ind no promoters' fees. Xo stock Ijccn offered to the public and none will he. The whole is taken by parlies interested in the various plants, and ihe management will remain In practically the same us heretofore. The new company will practically control, as the old concerns have controlled, the heavy machinery trade of the country. Col. McKlnney and Col. Gordon have principally instrumental in bringing about the present arrangements. N i l e Tool Works company ami Philadelphia engineering works have been under the control of the Gaff tatc, Col. Gordon and C'ul. McKlnney. The Pond Machine Tool Co. was controlled up to .lime, 18()S, by .1. Rogers Maxwell,of tlieNew Jersey Central railroad, but In that month control purchased by the owners of the Tool works company. "From every point of view the organization of this new company is thing of great importance and f;iil to bo of great benefit to all consumers of tools and machinery in long run, as well as to the parties more immediately concerned."