Workmen's advocate. (New Haven, Conn.) 1883-1891, 1890-03-29
IN THE WORLD OF TRUSTS,l
POOLING THE BRTTEST.

About the first that was heard of the
| operations of English syndicates was
when some two or three years ago the
Alsopp brewing establishments in Eng
land were turned into stock company
and the Allsopp family paid the snug
sum OF 5000, 900. The prospectus de.
monstrated that the profits of the bust
ness had been II per cent on that CAPT
talization. The British public was quite
beside itself with eagerness to subscribe
to the stock, and application for three
times the entire capital was made within
few hours after the books were opened.
The dividend has now fallen to per
cent, and there are the best of prospects
for it going still lower. Such is the re-
suit of the first venture at the syndicate
capitalization of industrial properties by
the Englishmen. The investment had
the advantage of being made at home.
where there were the best opportunities
for investigation. Since then this form
of investment, extended mainly in Amer
lean industries, has become SO popular
as to fall little short of a craze. In their
eagerness for profits prices have been
paid that were counted by people here
AS fabulous. Is it to be supposed that
the American owners of properties have
been less shrewd at driving bargain
than were the owners of the British
breweries? Whatever fear there may at
first have beeu because of the owner
ship of industries that was in this way
being transferred to foreign hands, it is
now becoming evident that Americans
need waste no nervousness over the
invasion of British gold. Chicago Tri-
bune.
SUGAR.
The Sugar Trust is paying regular
quarterly dividend of about 81 $50. 900.
making rs, 600, 600 year, or 10 per cent.
on a capital extensively watered. This
is the net income of the stockholders as
such. We have no means of knowing
how much of the running expenses goes
into the pockets If the managers as
wages of superintendence and per-
quisltes of all kinds. 1t is safe to say.
however, that the business of refining
sugar is annually yielding at least 25
per cent. of the capital originally in
vested, although it is claimed that the
margin Of profit per pound is but
small fraction of one cent.
BEEF.
The announcement is made that the
proposed sale of the Hammond Dressed
Beef Company to an English syndicate
has been completed. The business will
hereafter be conducted under the title of
the c. II. Hammond Company, Limited.
The total new capitalization. SO, 400. 900,
it is reported, has all been placed in Lon
don. To maintain the rate of profit on
this enormous capitalization our farmers
shall have to make themselves thinner
and their cattle fatter.
WHO PAID IT?
After the destructive flood in Pennsyl-
vanla last summer which destroyed
Johnstown it was estimated by officials
of the Pennsylvania Railroad Company
that damage 10 their road from washed
out tracks and bridges, the destruction
of locomotives and rolling stock would
amount TO not less than So 900, 600. The
report issued by the company now
shows that the system is in better con-
dition than ever before, and that it has
been made so without the stockholders |
having 10 sacrifice cent of their divi-
bends. This is remarkable showing,
and 1t might be asked who paid the |
Isl, DOC, 900 loss Eek.