Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1889-08-10

those taking the lead in the organization,
and il took much IN the way OF conferences
and no little show OF diplomacy and sTgu
ment to finally get matters in proper
shape. This has st last been accomplish
ed, and il is alleged toe project is a 80 be-
yond the possibility Of failure.
An interesting matter is the way this
important deal came about. II has been I'M
der advisemsnt for months. Originally it
begsu with q scheme on the part OF a
number Of manufacturers. They wished
to form a trust so that they could control
the table glassware trade Of the United
States. The proposition was submitted
for legal advice. Il was debated pro
and con for : long time. The good tea-
lures of the syndicate plan were warm
ly Sc. forth by its advocates, and
its influence and weight in numerous cases
in the past referred to. Then the English
syndicate came 10 the fore in this instance
a well az in many others. The English
syndicate was willing aud anxious TO pur-
chsse the table glassware factories Of any
size. recapitaliza them and conduct them.
A representative Of the British syndicate
was in Pittsburg some weeks ago. He
visited number of the manufacturers, aud
the result was the old hitch caused by the
American companies being expected to
mansge The works, yet on the proposed ba-
.is receive a much lower rate Of profit than
they are doing q. present. The local firms
considered this objection SIS very serious
one Like the brewers, they did not or
iect 10 the prices offered for the plants,
which were fair enough, but did object to
the re-capitslizAiiOn OF the stock, which
they said would hardly make it worth
while TO stay in the business. While the
proposed profit on the investment might
be considered very good in mOney-laden
England, it was not up to the American
standard. There were numerous and
lengthy conferences on this point.
The English syndicate in its usually
comprehensive manner talked Of taking in
several other States besides Pennsylvania,
Ohio and West Virginia. But when it
reached the climax the American manu-
facturers retreated from even their most
unfavorable position, and decided point
blank to refuse any and all Overtures
They reasoned that what's good for the
British goose is equally acceptable to the
American gender. If Eoglishmen can make
money out Of manufacturing concerns OF
the United S.atGs, they argued, natives OF
the latter country who know the business
can certainly do as well. So the negOtia-
dous were declared off and the representa-
tive Of the English syndicate returned to
the East, his mission unaccOmplished.
The home syndicate was sgain discussed,
and this time was urged as a prime neces-
sity. There was a possibility Of the dis
satisfied English people going quietly to
work aud buying tsble-g glassware plants
siugly, bat the trust plan was rot adopted.
IL was feared that a syndicate, while ap-
parently strong, would not stand the test
that might be applied either by British
gold or the possibilities Of the future.
There was nothing strong enough to bind
them closely together beyond the possibil-
ity Of shaking them apart. Uaanimity
vas necessary. Finally the corporation
plan was suggested as being the most
equitable, sssily managed and profitable,
and then the work Of carrying out the
project was undertaken.
Yesterdays Pittsburg Post had the fol-
lowing exposition of the details OF the aP-
praisement and allotment of stock;
ION October 1st appraisers will be ap-
pointed to estimate the values OF the va
rious plants The seller appoints one ap-
praiser, the corporation the other. To IA
ciila,e the operation and make it an tquit-
able one the property has been divided into
/ five classes. The first class is real estate;
the second. tools and mOlds and general
machinery; the third, material and manu-
/ factured stock on hand; the fourth, or ers
and contracts held by the selling firms;
the fifth, good will Plain sailing Is
ahead as far as appraising the
first four classes is concerned. The
only difficulty 20 be experienced would be
In adjusting the value Of the good will
which is, 10 a great extent, en- unknown
quantity. A simple method Of procedure
has been devised. Sons Of the manufaet-
urers make spscialties which alone yield
them handsome profits. Every one has
seen the little green glass hat that In
vetted. forms match safe on the mantel
or table. A crystal cupid with an open um-
brella. handle upward, is another exsm-
ple OF the same kind. These specialties
| have. in the case of many firms,
brought in p;ofls Of from $500 to
$40 600 a year. Their manufacture
ia 10. especially dihieult, but Inc
wide-awaks glass maker originates dc.
sign. makes it specially, advertises ard
reap5 profits utterly unattainabie from q
general trade. A firm with one or two
vel established specialties Of this nature
could not, with Justice 10 itself, bs expect
ed 10 enter accumulation without an extra
monetary consideration. 50 this plan has
been adopted to do him justice. The
profts for the past three years will be COM
puted, divided by three, and the resulting
ann will be handed in cash to the spe-
cisltv maker After the appraise-
ments is completed and the
worth OF the various plants
| escsrtained. the 10 per cent. ofthe capital
stock, above mentioned, will be paid In
The $500, GOO cash, added 10 the same
amount of manufactured goods that will
be on hand, will give working capital Ct
5000 600. This will be utilized for cur
rent EXPENSES. q certain amount retained
"a reserve fund. Zach firm will have a
representative on the Board Of Directors
and will influence the corporation IN the
same proportion as his stock is to the en-
tire stock. Active preparations for the
grand charge will, IS previously an
pouuced. he made on October l. They
will be pushed TO a speedy completion,
and the entire corporation will be IN
working order by January l, 1890.
THE object Of the company, explained
a Pittsburg manufacturer, ais to econo-
mizs and make money; more money than
the individual tableware firms ere making
now. Take, for exampls, the mere tdstte-
of clerical forces Of the various plants.
Each one is compelled to employ book
keeper and the necessary assistants and
clerks. Sapposs there are City plants.
Under the present arrangement as many
forces are required, but If they were
All under one management only one-htth
the number of Office employees would
he necessary. That is one consid-
cation. bat there are Others. Ole Gales
man undef the rev plan would do
he work Of the present nfty. lie can sell
tbs entire schedule Of wsres az easily as &c
can enc line of goods. The freight rates
forn another important point. saould an
order come TO the general Office for goocs
at q certain point in Ohio, the map Is coz