JOPLING, Thomas Barbed Wire Consolidation The Indiana Democrat 21 Nov 1889

tomjopling Member Photo

Clipped by tomjopling

Barbed Wire Consolidation
The Indiana Democrat 
21 Nov 1889 - and called morning, was J. on gave Scanlan...
and called morning, was J. on gave Scanlan pending testified answers Sampson, the Koch, a that Carlson about in for 8th or had a introduction show name; to be arrested, tho MILLIONS IN STEEL. .DETAILS OF THE BARBED WIRE CONSOLIDATION. CONSOLIDATION. An Illinois Charter Secured and n Capital of 812,OOO,OOC--It Is Not a Trust in the General Meaning of tlie Word, bat n Partnership Among tho Different Bar- ucd Wlro Mailing Concerns--Names of tlie Men In It. JOLIET, Ills., Nov. 18.--The details of the consolidation of all the barbed wires mills tire about completed. The Federal Steel company has an Illinois charter and a capital of £,12,000,000. It is said the plan of organization is not a trust in the general meaning of the term, being simply a partnership among the different barbed wire making concerns on something something like the plan of the Illinois Steel combine. The principal office oE the new concern will bo in Chicago, with branches in Pittsburg, Cleveland, New York, Omaha, St. Paul. San Francisco, New Orleans anil St. Louis-. The plan is to buy up all tho plants now manufacturing manufacturing plain wire, barbed wire and wire nails, fixing the price at a fair cash value an* giving the owners the option of disposing of their property tor stock in the new organization. As regards the rod and billet mills, where the new company have been unable to make a purchase, they have made arrangements to buy the products on contract at a certain price above the cost of pig iron. By this plan the company virtually has control control of this industry also. Allot Washburn, Washburn, Moen Co.'u licenses will doubtless doubtless come into possession of the new organization. organization. It is understood that the Federal Steel company will take charge of tho different plants on Jan. 1. Details of tho Barbed Wire Consolidation. will competent testimony on to and Kunze him two Coughlin the tho but Witness view of millionaire Kunze was refused notes of the of the horse, on private unwilling" statements been told How tile Schema 1» to lo Arr · £Uil. CLEVELAND, Nov. 18.--It is " newhat ifficult let obtain the inside d ' ds and plans for the organization of tlu lederal Steel company. Later details have made public something of the minor details ot the consolidation. Tlie nominal capital stock will be §13,000,000. Of this §0,- 000 000 will represent the value of the real estate, buildings, machinery and cood will of the absorbed companies. From 84,000,000 to §5,000,000 will represent represent the cash paid in by investors. It is believed that enough stock m new company will be issued before the Chicago meeting this week, so that the corporation can be formally organized and the directors elected. The directory will consist of nine persons, and a slate has been arranged, it is said, which go through without opposition. The gentlemen who will, in all probability, be chosen to administer the affairs of the company are Stewart H. Chisholm and Thomas"Jopling, of this city; J. w. Gates, of St. Louis; George S. Douglas, of New York; George T. Oliver, of Pittsburg; George C. Baker, of Des Monies; Mr Eatonbon, of St. Louis; the president president of the Salen* Wire company, of Salem, O., and a representative of one of the three large barbed wire factories of Jpliet, Ills. Mr. Gates will be elected president. . A Booillcr Makes » Confession. Mr. amazed her said pecuniary applied asked that crops stored income that them she her this a her a married the the Mr. a some Jackman She Mr. two of to an of UUI

Clipped from
  1. The Indiana Democrat,
  2. 21 Nov 1889, Thu,
  3. Page 2

tomjopling Member Photo
  • JOPLING, Thomas Barbed Wire Consolidation The Indiana Democrat 21 Nov 1889

    tomjopling – 25 Jun 2013

Want to comment on this Clipping? Sign up for a free account, or sign in