New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-27
TRYING TO BUY UP BIG FIRMS.
PROPOSALS MADE TO GREAT DRY-GoODS
HOUSES.
A MAN WHO SAYS HE REPRESENTS AN ENGLISH
SYNDICATE MAKES THE oFFER-HE
rs NOT SUCCESSFUL


Tho English capitalists to be Unsuitable
They have evidently formed plan to purchase every
available money making Institution in the country
with the surplus capital for which there seems tn DC
no field in their native land. They have secured
seventy-eight grain elevators in the Northwest many
large I'm various parts OF the country large
tracts of land I'm the West building lots In the Clues
the salt INDUSTRIES part interest in the sugar re-
fnerles. -four mills and lumber districts. Not con-
tent with all this, they have attempted recently TO
secure control of a number of prominent dTy-goods
houses of this city. Up to the present time' now
ever they have been unsuccessful and, If one may
nudge BY the declarations of members of the various
firms who have been approached on the SUBJECT
their prospects for such control by no means
bright
overtures thus far have been made to four houses
mainly in the same district, as though carefhi can
vass of the city to be made. II. H. Macy d Co.
Stern Brothers of No 32 West Twenty third ST. ::
B. Altman & Co., No. 3O1 Sixth-aves and simpson,
Crawford g. simpson, sixth-ave and Ninetcenth-st-'
have been asked TO dispose of their business III
each case the offer was made by man who repre-
sented himself to be the agent of an English syha
cate with unlimited backing, but his name oouid not
be learned despite earnest attempt TO discover H.
member of the firm of b. Altman q Co.. when
asked in regard to the AFFAIR." said that he did not
care go into particulars regarding the terms whch
were offered and the purchasers but that the report
was tine The first offer by English capitalists
WAS made several months ago." he added and
since then we have been approached In the same way
once or twice. were asked If we would entertain
proposals for the purchase of our store We did not
go into Details because We of course had no suoh
desire or intention. Who the man was l cannot Tell
you. did not hear his name"
Mr.. Simpson, of simpson, Crawford " simpson, ooi-
roborated the report also. 1t did not interest me-
however" he said "as bargain Of the Kind couin
be made with us. did not take time to allow MIN
even to 60 into details cannot say that know his
name. In fact only know that be was
staying at the Fifth Avenue Hotel, according |"
his statements and that he represented an Engish
syndicate. We wasted little time with him, because
our business IS not for SALE
The senior member of Stern Brothers admitted that
proposal had been made TO him of the same nature
in behalf of English capitalists. 1t was MINK,
six or seven weeks, or possibly two months. ago.
said Mr.. Stern in explanation, that the oner was
made We did not entertain H. however, as our
business is not on the market for sale. NO proc
was mentioned, for the reason that we dlo not 20
into details. 1 do not remember what the man
name was nor am / certain that ne was an English
man but | know that he represented. English cap
italists There was doubt about that in our
minds There was nonsense about him. His talk
was of millions showing his financial backing Our
interview was not extended, because we had no terms
10 make or accept. There seems TO be considerable
capital In England seeking investment, and the owners
have decided undertake the purchase OF dry-sood'
houses in addition to railroads They viii not pur-
chase ours" representative of Il. H. Macy q Co.,
the fourth firm 10 which the English representative
tried to mako favorable overtres, said that he had
been asked 10 sell the business several wecS ago
man came into the Office" he said, and declared
that he was prepared to make us tempting oHer
declined 10 into negotiations with him. however
and paid I'm little attention to his questions, or
the reason that the matter too ridiculous
placed little reliance upon his assertions, as his manner
and personal appearance were not indicative OF g'cae
financial backing think this craze. for such II has
become is often taken advantage of by INSCRIPTIONS
people who pretend to make such proposals, ana
at the same time upon their strength effect deal
of another kind But business Is not for sale ana
such visits are absurd and In vain" - .
There was also a report that Fl. ONel q 20, Oh
sixth.ave and Twenteth-st, had been called upon
by the same mysterious stranger with the same pro
posaI AID investigation proved that the statement
waS untrue. 1t is not at all improbable, however
that similar overues will be made to other merchants
In the near future.