St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-30
ALL ON PAPER SO FAR.
The Pillsburys Mills Are Sold
for the 'Steenth
Time,
But as a Matter Of Fact, They
Have Not Been
Sold.
The Proposals for Building
The Steel Arch Bridge
Opened.
EXPOSITION Finances and Com
parative Statements Made
"A Guaranty Fund.

Regarding the reported sale OF the
Pillsbury mills and elevators, Charles
A. Pflisbury said to GLOBE reporter
last night that he had nothing to add to
what he had already said upon the sub
ject. He did say, however, that he
hoped The parties who had been negotl-
ating for the purchase of the
mills would not take them, and gave as
his reason that he thought the
outlook for the milling business is bet
ter than it has been for some years.
The manner in which Mr.. PlllsDury
said this convinced his interlocutor that
no sale has been as yet conSumnated,
butthere is probability that 1t VIII be in
the near future. How soon the ques,
ton would be settled Mr.. Plllsbury said
he could not tell. but that as soon as he
was in position to say anything upon
the subject he would not be backward
in doing so. Speaking of the alleged
details of the transaction, and the prices
to be paid. MI. Pillsbury said:
1.-The statements in the papers that
we have, or are to receive 50, DOC, GOO or
any other sum for our property, is mere
guesswork, and wild guessW0Tk at that.
We have a price, of course, but what
that price is nobody knows but the par
ties Interested"
Asked about the report in some of the
papers that the Minneapolis mills had
made immense profits for the past SIX
wears. Mr.. Pillsbury said:
"There is no truth in such statements.
| do not believe that, as a whole, they
have made any money to speak OF, ana
| know that none of them have made
any such a percentage OF proht as Is
spoken Of"
There is little doubt that if the sale
does go through, e. A. PilIsbury Will
remain in charge. This is almost, II
not entirely, unavoidable, because there
is probably no man living who could
take his place. In knowledge OF the
the milling business, from the lowest
detail TO the highest and most compre-
hensive plan, he stand at the
very head. RumOr has gone so
far as to say that this arrangement has
been made and his salary fixed at S33,-
600 per annum; but, of course, MI.
Pillsbury would neither affirm nor deny
that, as well as the other rumors. The
reported sale of the st. Anthony water
power. the Washburn mills, the Galaxy
mill and other rumOrS set at1oat by
sensational papers are not true,
as the GLOBE has been assured
upon the best of authority. Some OF
this property may be sold within few
DAYS: and again, none of it may change
hands for months, if notfyears. The
same is true in a larger degree about
the report scattered abroad that the pur-
chasers of the Pillsbury mills will build
another big mill on the East side. There
is nothing whatever in this report. 1t
has rot even been mentioned by the
parties interested. A gentleman in a
position to know said:
1.-The mills now running are all, ana
more than the water power Will carry:
In fact, as everybody knows, almost all
of them have had to have recourse to
steam to help them out during the win
ter. 1t is all nonsense to talk about
putting in another big mill.
AS to the mills of Hinkle, Greenleaf
& Co., Mr.. Greenleaf says that they
have never even given an option upon
them. although asked to do so by sew
eral parties. for the simple reason that
the WOuld-be purchasers did not put up
a cash forfeit. STILL" he said, 1--WE
have a price and if anybody comes
along and gives 1t the mills will be sold,
but we do not expect such party upon
the next train"
As TO the effect of these sales, or any
of them, upon the property of Minneap-
oils, the almost unanimous opinion Is
| that it would be beneficial from the fact
that ii would bring in a large amount
of outside capital. The parties
who would receive it, with the
| exception of the owners of the c. G.
Washburn mills, all live here and have
| other interests which would retain
them. They would be free to make in
vestments in other enterprises here,
and most of them would undoubtedly
do so. This would give a great i'm
petuS to the business interests of the
city, and il would be Immediately felt
in several directions.