Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-01-04
ALLEN & GINTER SELL
THEIR cIeARETTE-woRKs BOUGHT
BY A NORTHERN SYNDICATE.
The Trade Greatly Exercised Over tho
Important Dcal-A Gigantic
Combination.

They have Sold thelr extensive Cigarette
and tobacco-plant here, together with
their entire business and oil franchises, TO
q northern syndicate, and the understand
ing now is that the transfer of ownership
will soon be made.
Only meagre information can yet be OBJ
tanned in connection with the transaction
which is fraught with so much interest
to our people, but that there has been
sale is quite certain. and it Is among the
possibilities that the chief manufactory of
this firms goods, which have found favor
IN all the markets of the world, may soon
be located elsewhere than at Virgjnia's
capital.
The rumor of the sole began to take
shape Thursday night, and there were few
persons to be found who would believe it
and no one could be found who would
give credence to IL: but the deal was an
open secret on 'Change yesterday and the
trade became greatly exercised when
the actual truth dawned upon them.
BUYERS and dealers of all classes mani
tested deep interest in the matter and
diligent efforts were made TO get at the
bottom facts, but all attempts alike proved
fruitless.
While the trade generally Will be affected
by the transaction the hundreds of en-
ployes whose families are dependent upon
the fair and in many cases liberal compen-
sation received from this concern are the
ones who are most yitally Interested, and
for the sake Of these it IS to be hoped that
the large factory at the corner of Sixth end
Cary streets will continue to give them en-
ployment for many years.
CERTAINLY SOLD.
A representative Of the Dispatch called at
the Office of the Allen q Ginter Company
Yesterday afternoon TO ascertain whether
the sale had in reality been made.
Mr.. Ginter, the president, was out at his
country home. but Vice-President John
Pope was seen and talked with for some
little time. 1T is true, as you have
beard.n he replied, "that we have sold out
and we will soon give possession OF the en-
tire business. which ! am sure is larger
than that done by any one house IN Rich
mond."
THE PURCHASERS.
MAY I ask who the purchasers are ?"
inquired the scribe.
"A New York syndicate" replied Mr..
Pope, who was very courteous. but insist
ed that he was not vet in position to give
GU anything for publication.
Was the purchase made by the Ameri-
can Tobacco Company, rs has been ru-
mored on the street," was asked.
CHI OIllN TtlifIdit, Sdlu iut fiNt-
President. THAT we have sold ont to q
northern syndicate, and further than this
l am not prepared to say. We could not
make % statement at this time even If we
wanted TO. The negotiations have not
been concluded Though the general terms
have been agreed upon and will not be
for week or ten days: then you Will
doubtless hear more about it,"
Are not the persons constituting the
syndicate practically the same as those
who would have formed the American To-
bacco Company had it been chartered
without trouble?" pressed the news-gath-
ercr.
"That l shall have to decline TO say.
We have made clean sale, end the busi-
ness will soon pass into new hands"
SOME MAY CONTINUE.
"Will not the members Of the Allen Il
Ginter Incorporated remain in the con-
Germ and hold a controlling interest, as
understand would have been the case with
the American Company"
Some of those now interested IN the
business" answered Mr.. Pope. may be
embraced in the new concern after awhile,
but the SALE as have said before, Will be
q b0ad-tiCie one ard the business will soon
be conducted under different auspices
from what il now L."
MIR. Pope would not commit himself fur
ther than this, though he was exceedingly
pleasant and seemed inclined to give all
the information that he possibly could
being situated as he Is. Mr. rope was was
sorry. he said, that any publicity should
be given to the subject as yet. though he
did not blame the newspapers to labor IN
their legitimate sphere to serve their pa
irons with all the news.
WHY IT'S DONE.
Mr.. Pope thought the General Assembly
had acted unwisely in attempting to repeal
the charter of the American Tobacco Com
pany, and while he did not say so in so
many words, the inference might be
drawn that had not this charter been
antagonized after being granted there
would have been n reorganization
different from that which will now occur.
The bill, he insisted, contained not the
slightest germ of trust, and of Ail tho
objections that had been raised against 1t
not one was well-founded. The fifty-year
clause should be no bugbear, for if the act
could be done equally as we'll
ten years hence. Besides, under the
general law the company would be entitled
to enjoy the franchises granted them TOR
thirty wears. and it could do no more harm
to give them fifty years than TO give II to
other enterprises which are chartered.
Railroads, he said, are given perpetual ex-
istence and they form combinations Just us
well as any other enterprises.
no TRUST DESIRED.
81 have heard il intimated." remarked
the Dispatch man. that the object sought
in getting the American Company charter
ed was to keep out of the National Ciga-
rette Trust. Is or is not this fact Z"
THAT is the case exactly. We had
made arrangements that would enable us
to continue our business as IL Is now con-
Quoted and retain our identity with Rich
mond and had the capital secured to re-
inforce US 50 that we could compete with
any combination. Since there has been
manifested disposition not to grant rs
what we considered simple protection we
have made different arrangements, and
that is the whole story SO tar IS l can tell 1t
now."
ANOTHER MEMBER.
Mr.. Cayce. another member Of the pres
eut firm. when approached by representa-
tive of this paper and asked about the deal,
gave practically the same statement given
bv Mr.. Pope. He said that if the American
COmpany's bill had not been adversely le-
gislated upon the gentlemen now conduct
ing the business would have retained q con-
trolling interest. but the company had now
sold out to different organization which
would not work under the Virginia charter
if it was given to them. but under busi-
ness style obtained in another State.
Mr. Pope also said that the American
Company charter was no longer valued
even if not repealed. though the company
did not admit the right of the General As
sembly to revoke it and reserved the right
to test this question.
A Gigantic Concern.
1t was learned last night upon the best
authority that the new company will in
clude the establishments of Allen Il Gin
ter, in this city; those of Duke in Dur
ham, N c., and New York city; Kinney
Brothers, Of Richmond and New York /;
Kimball. of Rochester, n. y; Goodwin,
of New York, and Bonsack's Cigarette-Ma-
chine Works, whose headquarters are in
Lynchburg.
They have s25. 900, 600 in capital, most Of
which is English money.
CHARTER IN NEW JERSEY.
A charter has been procured from the
New jersey Legislature. This was quietly
done while the Virginia Assembly was
wrangling over the act to incorporate the
American Tobacco Company.
As spon as the persons interested IN this
great Undertaking saw the effort OF our
Legislature to defeat their purpose they