Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-20
WENT UP IN SMOKE.
The English Brewery Syndicate Dis
appointed in Pittsburg.
PRICES TOO HIGH BY $1,000, 900.
Representatives We're Here and Made an
Investigation.
A LOCAL TRUST WILL NOT BE FORMED

The purchase of the Pittsburg breweries
by an English syndicate has been declared
of. The price that the syndicate was will
ing to paw and the sums asked by the
brewers differed by 81, 900, 600. Neither side
would relax from their figures. and ccnse-
quently all options were surrendered ana
the deal relegated to the dead past
A few davs ago eight representatives, OF
the syndicate came to Pittsburg-fve En-
glishmeu, including one London lawyer,
and three New York men-who were also
accompanied by their attorney. They MI
uutely inspected the property and business
of the various breweries, and concluded that
tbev were unable to invest their capital In
the concerns to obtain fair interest for the
cash that they were asked to invest They
made an offer, however, to the representa-
tive of the brewers which was declined.
The syndicate left the city much discounted
about the way matters had turned. Mr.. J.
j. O'Riley, the syndicate agent, speaking
to DISPATCH reporter last night, said:
THE PRICES TOO STEEP.
''The prices asked by the Pittsburg brew
ers were so outrageously high that no body
of men in their sane minds who wanted to
invest money with a hope that fair re-
muneration would result from the invest
ment, could possibly consider the purchase
of the breweries at the figure asked. Out
of the 10 properties only three asked prices
within the reach of the syndicate. The En-
glisbmen were ready 10 purchase IA out of
the Is breweries, but they would not dicker
with less number. After an investigation
into the condition of the buildings and the
business done by each individual firm, they
concl uded none were worth the figures
asked. When the books were inspected,
the yearly returns from each brewery proved
that no such Utopian figures would be con-
sidered for q moment. 1t was apparent from
the first that there was disposition on the
part of the Pittsburg brewers to hold their
places of business. If it had been otherwise,
something like a reasonable price would
have been offered.
THEY MEANT BUSINESS.
''The syndicate was sincere in their desire
to purchase the breweries. They demon
strated that by the fact that they were will
ing to pay a good price for the whole lot.
They came here and personally inspected
the concerns, and based upon their investi-
cations an offer was made which was tair
and reasonable. This was repudisted, and
the syndicate surrendered the options and
left the city.
"a report has been circulated that trust
would be formed among the brewers of the
city to regulate beer prices. No such trust
has ever been considered by the reputable
brewers of Pittsburg. / believe that one
brewer, however, suggested after the syndi-
cate declared the options off to boom local
trust, but this suggestion was secuted by
every other brewer, and you NAV say from
me that as long as Pittsburg is Pittsburg no
such trust will be formed. The men in the
trade would rather sell their beer in keen
competitive market than have the prices
controlled by trust.