The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1889-10-02
BOUGHT BY ENGLISH MONEY
THE SYNDICATE DEAL COMPLETED.
Fifty Millions of Dollars Expended in the
Purchase of American Industries by
British Capitalists-List Of the
Properties Sold.

CHICAGO, Sept. 2S.-The expenditure Of So
100000 by two English syndIcates for the con-
troll Of an extraordinary aggregate Of industrial
enterprises in the United States was completed
in this city to-day. Levy Mayer, q well-known
Chicago lawyer, was one OF the agents in the
great purchase, and TO him was left the matter
of making public summary Of the transac-
tions. or rather the extended series of transac-
tions. A pair of London corporations, headed
by the present lord mayor of London,
Sir Henry Isaacs, are the buyers. The
syndicates include in their membership
great number OF British bankers and trustees
of large estates in the United Kingdom. No
business was acquired for them in the United
States which has not paid at least f2l per cent.
a year for the past five years. Grain elevators.
Touring mills and breweries have been the fa-
vorite investments. The management of each
of the various enterprises viii be placed in
American boards Of directors, subject to the
control of a board.
Doesn't this tend to the establishment Of
huge British trust" Mr. Mayer was asked
this evening.
"Oh, no." said he. There is no combina-
ton. Each enterprise is operated separately
and distinctly. The plan is not one Of aggres-
sion, but OF conservative, sure Investments
Hostile legislation, it Is learned, has been
cleverly evaded The alien laws of Illinois. for
example, prohibits any sale Of real estate to
foreigners. lt was designed 10 prevent the
acouirement of farms in Illinois bv certain
British landlord for ''rack-renting'' pur-
poses. The syndicate got around this
statute by having the ownership Of necessary
real estate incorporated and then acquiring the
stock OF the company, which legally is per
sonal' not real property. The deal embraces
a chain OF elevators from the Minnesota and
Dakota wheat districts to Chicago; the syndi-
cate Touring mills are at Minneapolis and the
breweries are in Chicago and the East The
purchasing committee. or at least two OF its
members whose identity has not been dis
closed, left Chicago this evening en- route to the
Northwest and intending 10 60 from there to
Omaha and Kansas City. where further pur-
chases are now being considered. The titles of
the following properties have already been
turned over 10 the syndicate:
The Bemis * McAvOy breweries of Chicago.
The Nacker q Birk breweries of Chicago.
The Albany brewery OF Albany, \. Y.
The Jones brewery of Detroit. Mich.
The Hauck brewery of Newark, \. ].
The Trefz brewery Of Jersey City, y. j.
The United States breweries OF New York.
\ portion of the stock of the Schoenhofen
brewery of Chicago.
The Star elevators Of polis-seventy-
six in number.
The G. W. Vanduzen system OF elevators, of
Rochester, Minn.-ninety IN number.
The Cargill Bros elevator system Of Mime
sofa and Dakota
The Baltimore breweries of Baltimore.
The F. Rraastadt Hancock iron mines, of
Hancock Mich.
The Rochester breweries of Rochester, Y. Y.
Arrangements for the following are also con
cluded, and the transfer will take place in a
few days
The F. J. Dewes brewery, of Chicago.
The Pillsbury flour mills of Minneapolis.
The Washburn flour mills of Minneapolis.
The Syracuse brewery OF Syracuse, ". Y.
Negotiations for two extensive elevator sys-
tens in Chicago are well advanced but not yet
cOnsummated
The City contract company of London, cap
ltal, S5QOO0OO0, and the Trustees and Ex-
ecutors' company of the same city, capital,
So. SOC, 900, are the corporations or syndcates
making the big purchases. Both are reputed to
he among the most solid of British institutions.
Lord Mayor lsaacs Is president of the latter
company. Trusted agents first made lists of
desirable property. The next step was 10 OBJ
tain options contracts binding the owners to
sell for a certain sum. and giving 2 history Of
the enterprise for ten years back, accOmpa-
MED by bank deposit 70 guarantee expenses
of an investigation Expert examination by
English accountants followed; then came a re-
port from advisory committee sent to
the ground, and lastly, the work of
the purchasing committee. The examining
or advisory committee came over in July and
consisted of D. c. Macrae editor Of the London
Financial Times; II. II. Shanks of London.
and several other gentlemen. The purchasing
committee was headed by Messrs. Thomas
Stewart and Lehigh Marshall. Secrecy of the
most binding character was observed to the ut
most. The main reason for this as given by
member of the purchasing committee to-day was,
I'VE have been inclined TO look on the pur-
chases as private business which could be Of no
proper interest 10 the public"