New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-05
RUMORS ABOUT A GUN TRUST
p1s1NCLIsATION TO DISCUSS THEM.
WILL THE LARGER COMPANIES coMBINE-wHAr
Ex-GovEDNoR SQUIRE SAYS ABOUT THE

WILL THE LARGER COMPANIES CoMbiNH-""Ni
EX-GOVERNOR SQUIRE SAYS ABOUT THE
SALE AT IIIoN.
Dispatches from Boston published yesterday gave
credence TO an interesting that gigantic arms
manufacturing trust was absut to DO perfcet"u
70 include tho largest concerns OF tno
kind in the United States. Tho facts
pp,n which the runner was founded appear to be tho
ab.orpton OF the Whitney Arms Company py ths WIN
chester Repeating Arms Company and tho purchase Oh
FIN Psmingten Works at lion by Hartley Grahan Oh
this city.
There WINS an evident disncnation In this city to an
aver questions regarding the establishments the trust
by beth the Winchester Company ana baruey ~
Graham At the offices OF the Winchester Repeating
Arms Csmpany in Broadway the fact Of the purchase
Of the whitney Arms Comranys Interests was Freely aa
mtted bit the manager said that 1t was simps bus
ness transaction which he thought had 10 objects
beyond obtaining greater facilities for the
manufactures Of the Winchester Company.
Mr. whitney had been wanting to sell fer many month";
but the purchase Of tho whitney Works by the Win
chester Company did not by means indicate that
a gun trust was to be formed The manager did net
think that any such combination was nnder way.
Mr. Graham, OF Hartley Graham, in Maiden Lane,
sad that lie had heard nothing OF the formation Of gun
trust and that supposed the rumor had its origin In
what might to some coincidence in the buying
out of the whitney Arms Company by the winchester
Company following closely uDsn the purchase OF the
Remington Works at lion. N " by Ills firm For his
part Mr. Graham was wholly unaware, he said, OF any
union Of interests. Tho Remington purchase was
purely business venture which concerned nobody but
his firm All beyond that 80 far as Hartley Graham
were concerned was purely imaginative
more disinteros ed witness. however, was
found in Ex-Governor Watson c. Squire.
Of washington Territory. who was for
many years o member Of the Remington firm .
in its extensive manufactures Of and is connected
by marriage with the family. He IL at the Hoffman
Heuse said last evening that although II was nearly
tan wears age since his active ectisn with the Rem
in.ton company had been severed he stll felt good
deal at home where gun questions were discussed.
much depends in this matter OF gun trust he said,
"sn whether the sale Of the Remington property 10
Hartley & Graham is confirmed by the Supreme Court
was for thirteen years OF the management OF the
Remington establish nent During this time business
OF more than $35 900 900 done-rearly s300OOOo
annually. II Hartley & Graham can get that
immense business fer 2,2O0, which was their
bid. thsy will get great deal for very
little I was at Hon at the sale last
Wednesday and have hesitation In saying that there
ever was such financial slaughter In this country
Why, the appraisement, which was $l,2oo'ooo. was
and less than that great property consist
ing OF factories, guns and sewing machine patents
costly machinery of endless kinds water and priv
leges real estate, etc. worth. do not say that
there is trust formed or form
ing, but there no antassnism at
the sale. The Winchester Company was represented
there and the fraternal relation: between them and
Hartley x Graham were entirely apparent The work
men others at llisn whs will be ruined II the WORKS
arc removed there and the Utica creditors formed
sn all imprs nptu combinations but they were able to
carry their bids ne higher than $4,000. Hartley q
Graham went y, 200 better.
"A gun trust would not be great step
BEYOND the cartridge trust which has existed Tor
many years with the late Charles Taylor as me
coRnis sisner in this city Mr.. Taycr regulated the
basis prices OF cartridges and he undoubtedly has
successor the cartridge trust the Union Metallic
Cartridge Company, 81 Bridgeport. owned by Hatch
Graham the Winchester Repeating Arms Company ana
the United Cartridge Company OF Massaohusetts
in which General Benjamin IT, Butler Is largely inter
ested. The Romingtons cartridge manufacture was I'm
portant, so large either of tho others
There strong fer trust 10 Dc 1eunu
in the low prices at which arms arc now sold
How far 1t will extend is question doubt
If the Colt Company which makes fine
article OF repeating rife. or the Smith Wesson
company whose operations confined entirely TO the
pistol trade, will 20 int such combination at present
Both these companies financially strong but when II
remembered that the prodts On all those classes Of
goods have been very materially reduced In the pas!
years and that considering the amount Of skill ana
capital invested the remuneration Is much smaller than
1t ought TO be, anything that will iegitimatoiy
advance the prices will prove very seductive Tas whse
matter however hinges the confr sasn OF the sale
at Ion The creditors may make some weghty oblsc.
and IL be shown that tho properly has Deen
sacrificed the sale may be set aside