Telegram-herald., 1889-10-01
BRITISH DUCATS
Tcsy Esvs Been Scattered wiz
Law a. IA =
EXCHNCED F0R ylSI ENTERPRISES.
Ezglish syAaSo4tss Hsss PAID Over sse,'
s@o.S SSc s>,f fxsa1al1s1s eEessr.
~>.s@lsFs saa AsAss - sss
gnited ststSA

evening &-t14 - s-2-s -AS--e Al t~AS A'--
chase ~ sen4e - tAe eesE kn0wn aES nle'si
refnuneraIive business enterprises IL ths
lnlgso ot&tsA The s1ns pad ~ tksU pc
foss lAe4E departure sweA LAs Ist~l eK-
i,soaitlTes q tie EnElAsh syndicate Tor
American properties - SO 90 OlN 81 toQ %
Vuo e0 he properties tarssc over - tbe
British o0T per 4tlons la consideration - this
s4Ll IL &d2itted ny nlsaOeG 81 tAe
purchasing committee sEd ~ Attorney
Levy Asyer, are TIE following,
ne Benls NcAyo, brewery. 81 Chicago.
lhs 4ekel s Blr4 ~sriss. II ca.e&sc, he
albany brewery. - Alo4Ey y. \. he JoAes
brewery. 81 Delrolt. tie E4ack oresers, q
Ne~srka p. J. t~e Trei1 breseTy. q scrsey
Ctyi t1e JEltec states tfeseraes % Nee
oTk City, = porl-o- ~ he st0ck Of ihe
Scnoenhofen breSery - Chieagos TIE Star
elevators o. Minneapolis, TIE u " tEn
Dusen system OF elesators, of h0rhos Ter
Mian., the CaTg 4 BFos' elevator system. -
II hnnesots Aao D-sota the Baiumore brew
efles OF B4lt moTe. Nj h Br.astsos EAa-
cock lloa lalnes. 81 hauc0cG. M.on- t1e hos1
es- -er urewefses. II Rochester, p \
These sales h1se been cOmpsste and the
titles rest With The Ing lsh syn0icAtes
bat they are not the only deals - - made.
In a feN days tie s4.es 81, the following
properties vii probably be closed and Tie
money paid over. the arrangements having
already been practically concluded The
= Dewes brewery. OF Chicago ana Tie
syrscus- breweT.es. OF Syracuse \ y
Ia less advanced stage are negotiations
for the purchase of two extensive elevator
syste Is Ia Chicago These are 60 neces
ssry 10 perfect system, with those al
ready purchased IN Minnesota snd Dakota
that the dea seem a. sure u beiag con
.ts~
had been agresd on and paid over.
The purchasers o. these great blocks of
property are two London corporations
the City Contract Company. with = capital.
it IL said. OF 4l0. .0Oo, OOJ. and the Trustees
ana Executors Company. with a capital al
about II zoo ,OJJ Both concerns are among
the most solid OF English corporations and
number among their directors some of the
best known business men and tnanciers Of
Great Britain Sir a eury Is=scs. who Tss
elected lord mayor OF London and took Els
seat September Z, being president OF the
Trustees and Executors Company.
The corporations Ers composed OF mum
ber OF banks and the trustees OF large es-
tates who have large funds at their 6is-
posSl and are dssIrous Of making conssrv-
ative and reliable investments which vii.
be more Temunerauve than the BTtish
consols, which pay only =. per cent IL
the American purchases each com
pany pursues the same method, but acts
independently of tho other.
Since their organization each company
has had an agent IN the United State.
whose duty 10 was to look out for solid
business enterprises paying large dividend
but conducted on principles which would
present the minimum prospect OF failure.
Only such enterprises were considered, and
IL was the agents duty to obtain general
and accurate report OF the character and
quantity OF business This was submitted d
TO the home company and If the business
enterprise was considered desirable one
the agent was requested 10 secsre an op-
tion on it II possible
These options are peculiar institutions
They are contracts on the part Of the
owner TO sell for certain sum and Include
a complete schedule OF the business TO be
sold with its history, progress and the
profits lor the last ten years II the net
profits are not at least lS1{ per cent year
for the preceding five years the agent de
clares ali negotiations OF. II they are i2I<
per gent the seller is permitted 10 com
plete his schedule. which IS nothing
less than an abstract Of his books
On doing this he Is required 10
deposit in a bank a sum OF money. gener-
ally from G. 0oJ 20 e. 900. 10 defray the ex-
penses OF an investigation This arrange
ment concluded. the schedule is forwarded
to London for inspection, aud II found sat.
isfactory expert accountants are dispatched
10 the United States TO make full and
complete examination o. the books 1;
these are found as represented the nc
countants soTeport over thei, own summary
OF the book accounts
Either before or after this expert exsmi
nation a committee is in each case sent e
look at the proposed deal from q business
stand point. TO calculate on the dssad
vantages OF competition OF other
probable diminution OF prohtx If tbs
accountants and commtsees report,
are both satisfactory the matter is pu
into the hands Of ths purchasing commit
tee. which closes tn deal. pays the pgr
chase price and refunds the guarantees
money II it is found that the would -b'
sellers schedule ia mls'eading or false the
negoI tons are iInme ciately Cancelled an,
the expense Of Examination deducted from
thu guarantee fund
In spite OF all tho iepials OF the pur
chasers II fe tho general supYositon tina
tha deals have been made with an idea q
forming gigantic trust Of . large share o
tl oTeweTies IN the co1ntrv The elevate
scheme and iour-nill project seems =
have a similar tendency. chain q
elevators from toe Minnesota an,
Dakota wheat districts a. Chicsg,
would have al enormous infuenc.
on the grain business and would CIV
tie British syBdicstes immense advantages
in the export trade. which they couiS
utilize the better fOr their facilities II
nsing large quantities Of the surplus - hes
IL their own -four mills At Minneapolis
The purchasing COMMITTEES viii prooee
70 the Northwest and then % Ean-as CIT
and Omaha here. IL Ia urdsrstood n b a
the purchase % other enterprises uDds
considerst on