Morning journal and courier., 1882-10-20
NEW YORK.

Tine Corner in Rubber-An Effort to l
 Break 1t by the Manufacturers.
 NEW YORK, Oct. 19-When the representa- l tives of the vast industry in India rubber as- ! sembled to discuss the present demoraliza- tion in the trade there were sixty-fve firms present representing capital of $50, 900, o0o. Mir. A. O. Bowen presided and Mir. Charles L. Johnson, of New Haven, acted as secre- tary. Among those present were E. D. Con- verse, treasurer of the Boston Rubber Shoe company; J. c. Balderston, president of the National Rubber company; A. O. Bourne, treasurer of the same; R. D. Evans Ameri- can Rubber company, Boston; B. F. Good rich, Goodrich Rubber company, Ohio; J. J. Haley, treasurer of the Boston Elastic Fabric company W. H. Fenbsr, treasurer of the Boston Betting company Joseph Ban igan, president of the Woonsocket Rubber company J. H. Cheever New York Betting and Packing company; Thomas Sawyer, Easthampton Rubber company; F. M. Shep ard, International Rubber company; J. D. Vermiiye, Goodyear Rubber company ; A. Spadone, Gutta Percha Rubber company, and others. The chairman announced that the meeting should take action in regard to the extreme high prices of crude rubber. After some discussion the following resolutions and agreements were adopted:
 Whereas by the ipulations of certain operators the price of crude rubber has adv dvanced within the past two years from 65 cents to $1 20 D. pound, and higher prices without ther" being necessity fo t as it be prodtably produced for 65 cents per pound and the laborers wh do tho work of gathering it cure no b. neft frem the advance; and
 ! "hereas, as many articles manufactured from it
 Reso,ved, that 1t is the duty of the rubber manu- ! ia turers of this country and Europe do ali they ! this gigantic speculation, and for this the ' m inc advIs all cir ers to refrain from endeavoring to keep down the price goods by undue aduteratton of them and in making the neces advance in prices to advance the standard of qualities.
 convention held of rubber manufarturers in all lts branches It ought 10 put upon it's record that charles Goodyears genius and in laying the foundation of this world wide industry.
 The following agreements were arranged in committee and adopted by the meeting: ! Frst-That we, the acturers rubber boots and shoes hereby agree to close our respective faeto
 closed until the price of rubber shall fall to point which warrants ns in resamtng, Tho time when that meeting called by the chairman or secretary, the meeting to be called up ,n the request of five
 b rs who manufacturers of rubber boots and l shoes
 second-we manufacturers of rubber good. other
 the assumption of crude rubber so that after No
 vember l, 1884, it will bs 25 cent less than at ! present. and not to again increase said nsumpsion
 until such time tho cost of crude rubber fallen ! to a point which warrants the increase
 ! It was also resolved to appoint a committee five
 by the chair, whose duty 1t shall be plan
 for the organization of an mpor ing company with
 capital of not less than s5oo00oO and the
 to meeting of manufacturers to be called ! practicable.
 ! It is claimed that the ''corner" organized
 by William k. Grace & Co., was the first step
 toward the present demoralizat1on of the
 rubber trade, and that another ring having
 been formed the Grace Alden Earle combina
 tion were caught on the short side of the
 market and started cry against the new ? corner, which has locked up the supply actual and visible and put the prices so high that the manufacturers cannot get enough ot , the raw commodity to complete their con tracts. This artificial famine in the market
 originated by the Grace combination was
 taken advantage of by number of unscrupu lous spectators who adulterated the rubbe,