US Presidency
1911

The licorice companies are two one with a capital Of $ 5,758,300 and another with a capital of $ 200,000. There is, also, the British-American Tobacco Company, a British corporation, doing business abroad with a capital Of $ 26,000,000, the Porto Rican Tobacco Company, with a capital of $ 1,800,000, and the corporation of United Cigar Stores, with a capital of $ 9,000,000. Under this arrangement, each of the different kinds of business will be distributed between two or more companies with a division of the prominent brands in the same tobacco products, so as to make competition not only possible but necessary. Thus the smoking tobacco business of the country is divided so that the present independent companies have 21 39 per cent, while the American Tobacco Company will have 33 - 08 per cent, the Liggett & Meyers 20.05 per cent, the Lorillard Company 22.82 per cent, and the Reynolds Company 2.66 per cent.