Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-11-11
PAPERS SIGNED
:, ,y saLs OF TIE COOPER HEWITT G
wv 90. IRON WORKS
vr,,, q Dollars 60 into the Gig Dsai.
Nv I'D and American Capitalists Will
Pa the New OwnGs-A New
Name for the Concern.

YORK. November 10.-In spite
Ne" sII-absorbing interest In the
Of 'no disturbances in Germany and
fnane,,o araiUn markets, Wall street men
OIu'ts nsnciers and capitalists In gem
snI end end time TO discuss with more tnan
ersl LIZ curiosity the transfer OF the
PssSlaH1v iron works in New Jersey and
e1'eu.,vsnia. owned by Cooper, Hew-
PeahIGy 70 Of this city, to a syndicate OF
~ and American capitalists.
bG gssara is a good deal OF curiosity to
Ia "details OF q transaction which
earn u. - the outlay Of $4,000, 900 as the
nv l.t price Of the investment including
eOss ortgsge which the purchasers as
uiOi Both parties to the sale are In
sum- sS n be reticent as to the partlcu-
eIin'Ss - the reason that the sale has not
lsl : Nv taken place, nor will the trans
49, 49, made until January l. However,
Iei 70 contract papers have already
. stoned. the bargain may be re-
Csrded as settled, II not cor sun ~ uialeu'
Abrsm 5. Hewitt, who, it Will remem-
,.-sd denied emphatically one day last
Us.Sr hat he knew anything about any
,.on5ad sale of the properties OF his
- rsfused yesterday TO make any
. 80 Edward Cooper, his part
,gss little more amiable. This Is
nS ha. bs dictated: "Some months since,
w. the application of responsible
,,oricap gentleman, we named price
.1vbicb we would sell TO him our iron
80 consisting Of the works
" The New Jersey Steel and
y,,D Company, at Trenton, the Trenton
- Comnany. and the wire mills at the
- - lace: the Durham Iron Works
sd me furnaces and mines at Durham,
pa II this gentleman purchases them
h. can. OF course, make any disposition
- hem which he sees fit. He may be
ting for an English syndicate or he
NV not. We only know him In the
. .- and we have had no deal
'aes wish any syndicate, English or
American. The sale has not taken
rIoce. and until it does had rather not
sav any more about 1t"
Mr.. Cooper declined to give the name
NJ Inc responsible American gentle
r,sr - hut IL was learned on good
srtbority that it was Senator John +.
Iones. OF Nevada, through whom the
sa'e was effected. The price to be paid
/. 3 COO 600, and the payments are to
evtepd over a period of twenty years.
Meantime, until the payments arc all
made. Messrs. Cooper and Hewitt VIII
rot give up altogether their interest
In the great works, and will De
,a.resepted In the management
under the new company by Charles 4.
Hewitt, a nephew of Abram ). Hewitt.
The first payment on account is 10 be
made on January /, and the new owners
will then take possession. Senator
Jones is at present the active represent
alive Of the syndicate, and he is now In
this city attending TO the legal and other
preliminarles necessary TO the lorna
lion OF the American branch o. the COM
pany and To the final transfer in Janu-
airy.
The new company is to be known as
the Cooper Hewitt Company. The cap
ital is fixed at 6sO,OOO pounds, plus a
mortgage of $4,000 pounds, which
makes the total capital 1000, 600 pounds,
or about S., 900, 600 in our money, The
1890 -. >,0orr organized IN London,
and nearly all of the stock has been
placed there. There are several wealthy
aud influential American capitalists in
terested in the new enterprise. The
American directors are John w. Mackay,
Senator John p. Jones, of Ne
yada; Gen. Charles Z. Dodge,
Of Colorado and New York; Horace K.
Thurber, the wholesale grocer, OF this
city; Frederick Slade and Walter Cook.
The English members of the Board Of
Directors are the Duke of Marlborough,
Col. North, the Nitrate King" Hon.
Ashby POnSonby, and James Ernest
Spencer, NJ. z. In addition to the prop
critics Of Cooper, Hewitt & Co., the syn
dicate has also arranged to purchase the
works Of the Passaic Rolling Mills, at
Paterson, n. j., and the Warren Iron
Company, Of Hackettstown, y. j.