Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-07-27
APLETHORA OF GOLD.
Plenty Of English Capital Floating
Around in America Just Now,
SEEKING PROFITABLE INVESTMENT
The Proprietors Of Large Drygeods Houses
the Latest Approached.
NO HEADwAY MADE IN THAT DIRECTION
ESPECIAL TELEGRAM TO THE DIsPArcHi

ESPECIAL TELEGRAM TO THE DIsPATcEI
NEW YORK, July 26.-There seems to bt
plethora of uninvested English capita
going a-begging in this city just at present
Having obtained control of some Of tht
largest brewerles In America; having
'scooped" the salt industries, so to speak
invested heavily in nearly all the railroads
secured control of certain iron and steel
mills in Cleveland; made overtures for the
purchase of the largest tobacco factories and
Delmonico's restaurant; obtained an inter
est in the sugar refneries, and purchased
nearly enough flour mills and ranches to in
fuence the price of bread and meat
these English investors, or theil
agents, are now trying to buy ur
some of the largest retail drygoods
stores in this city. So far as could be
learned BY q reporter of THE DISPATCH to-
day, their efforts have not yet been success.
ful, but some of the negotiations are not yet
ended.
ALL OFFERS DECLINED.
Three large firms admitted this morning, in
reply to the question of the reporter of The
DIsp ArcH, that they had been approached
by the representative of some English capi-
talists with an offer for their business. In
all cases, however, the offer was declined.
A member of the firm of Simpson, Craw-
ford g. Simpson said: eyes, we have been
approached for such a purpose. A gentle
man whose name I forget now Gf, indeed, I
ever knew it), who was stopping at the
Fifth Avenue Hotel, asked us If we would
sell our business. 1 did not waste a mo-
ment's time over the matter. The PROPOSE
ton was too absurd for us to consider for
one moment Life is too short. We are
not selling our business"
A member of the firm of B. Altman q
Co., No. 301 Sixth avenue. said: Eyes, We
were approached with an offer of that kind
from English capitalists. We were asked
if we would entertain proposition for the
sale of our business. No details were gone
into. do not care to say any more. A
party asked us if we would accept PROPOSE
tion of that kind. guess he got his answer.
don't care to say any more than that We
were
APPROACHED WITH AN OFFER
for our business. Yes, you can say if you
like that it is understood the offer was de-
clined."
Mr.. Stern, of Stern Brothers, No. 80 West
Twenty-third street, promptly admitted
that an attempt had been made by someone
on behalf of English capitalists to buy the
business Of his firm. He said: eyes, we
seven weeks ago, but no definite offer was
made or price suggested, because I did not
go into the question to any extent, and for
the reason that we wouldn't sell our
business, anyway. do not RENE m
Der the name OF the gentleman or
do know whether he was an Englishman or
not, but know he represented English
capitalists. There was no nonsense about
him; he talked millions. He asked if I
would be inclined to dispose of our business
to an English syndicate told him that
our business was not on the market. The
offer was undoubtedly genuine. There
in England for investment which they do
not seem to know what to do with. They
seem to be
TIRED OF RAILROADS
and anxious to put their money into some
business which they can control themselves,
and be reasonably sure of some return"
Mr.. Strauss, of. r. III. Macy & Co., said
he had been approached by a mysterious
strange, who represented himself as the
agent Of some English capitalists who de-
sired to purchase the business of the firm.
81 did not pay much attention to the ques-
tion," added Mr.. Strauss, because 1 con-
sidered it too ridiculous The gentleman
said he was prepared to make me a
tempting offer, but I declined to enter into
any negotiations with him at ALL 1 placed
no reliance in his talk, as neither his man
ner nor his appearance bore out his asser-
tion that he represented some capitalists.
Moreover, our business is not for sale. This
English syndicate business seems to be a
sort of craze here just now. Much of it. 1
think, is talk. 1t enables some. men to go
round, however, and try to get offers to buy
or sell certain properties. as the case may
be, and on those terms perhaps efecta deal"