The sun., 1890-01-12
MORE FOREIGN MILLIONS.
COTTON MILLS, PAPER MILLS AND MORE
BREWERIES TAKEN BY THE ENGLISH.
Fresh Deals Representing About Thirty Mil
IIons-Some of the Hidden Wealth of AM
sterdnm to he Brought TO this Country.


Fresh Deals Representing About Thirty Mil
IIons-Some of the HiddeH Wealth of AM
sterdnm 10 he Brought TO this Country.
The latest direction In which British capi-
talists have looked for investments in this
country is toward the big cotton mills. NeRo-
tlations are we'll advanced for the purchase OF
three OF the greatest mills In America at cost
OF t2O,OOO00O. Two OF these mills are In New
England and the third is In the Middle States.
Options on these properties were obtained
some time ago. and an investigation by experts
OF their condition is now in progress. The mills
referred to mako only standard cotton goods
and no fancy products.
Mr.. Samuel Untermyer, the American rep
resentative OF the syndicate interested, says
that several woolen mills have been offered
for foreign purchase. but his principals refuse
to negotiate for such property. lie doesn't bo-
lieve the woollen mills can make much money
without free wool. The only reason any WOOL
len manufacturers oppose free wool, In his
opinion, is that they are afraid 1t might lead to
a reduction In the duties on manufactured
woollen goods.
The sale OF four Of the principal paper mills
in New York State TO a new English syndicate
is practically completed. The completion Of
the auditing Of accounts ia all that remains to
be done. Two Of these mills The Sun has al
ready said. are the Glens Falls and the Rem
ington, and the amount involved in the whole
deal is between S. 100000 and $5.000000. The
enterprise has been tioated In England under
the name of The New York PAPER Mills, Linn
ited." The prospectus announces that $780,
900 will be expended in the erection Of II sui
phide mill in connection with each OF the pa
per mills. 1t is expected that the profits will
fhu9 inpFaa q
the market lowered. Twenty per cent oil the
cost OF making wood-pulp paper In this coun-
try Is the expense Of importing the sulphide
pulp which costs 81 to cents per pound. This
same material can be made ut the mill. so say
the English investors. for IN cents a pound.
They argue that this will enable them not only
to earn larger profit. but to reduce some
with q capacity Of 100 tons rer. day,
eaSscy enS oi sS tons a'hnHs ansay with
the mills purchased are engaged in
the manufacture solely OF paper used by news
trade. manila grades. are suffering serious
depression. and some collapses, especially In
the trade made by the Epglshmen provide
that the present managers OF the mills shall
remain in charge for at least three years. and
Since the purchase OF these iour mills have
been negot tated tor more than thirty paper
can agents OF the English buyers but 1t is said
no other purchases in this line are contem-
plated.
Definite announcement will soon be made OF
the sale to an English syndicate OF the live
largest eweries in Boston. The EnRlishmen
already own Frank Jones's brewery there. and
the new purchase will give them practical con-
troll OF the lager beer produclionof of the Hub.
None OF them are ale breweries. The English
have made up their minds that this isn't much
OF an ale-consuminG country; that the weather
isn't favorable to II. Or perhaps the real
reason is that they don't want TO enter into an
Improbable competition with themselves here
by producing ale of the same quality they
make at home, and thus driving out OF the
market their own home-brewed ale. which Is
imported here in immense quantities. The
amount which 1t is proposed to invest in the
latest acquisition OF Boston breweries is
S5000.0u0.
Another syndicate is negotiating for the pur-
chase Of two great manufacturing epterprises
one in East Cambridge, Mass, and the other in
Baltimore. but nothing deiinite is made public
tident that within the next six months fully
$50 0O00 600 Of fresh English capital will be in
vested in industrial enterprises in this country.
lur in England that it is now proposed t. in
terest idle or unproduetive capital in another
OF the richest capitals OF Europe. 1t ID said
that Amsterdam has more accumulated and
comparatively idle wealth than any city on the
Continent. Extensive arrangements a. o being
made o secure the Investment OF some OF this
money In this country. and overtutes already
made have met with favorable responses. The
line which will be opened at first will be of a
more speculative nature than have been the
English inyestments. Instead OF industrial
resources in tnat section Will be offered. and
II is expected there will be "a lively speculation
in Georgia, Florida, and Alabama first, and
afterwRrd in ther States. Agents OF Dutch
capt. alists have been for weeks making quiet
esligatons OF South herni resources with
view to captali2ing and developing them.