The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-11-22
THE RICE MILL COMBINE.
TIE DEAL EXPECTED TO BIB CON
sUMMATED IN TWO WEEKS.

The Negotiations Being Conducted by
Agents Of a Foreign Syndicate with
the Utmost Secrecy as to the Back
ers OF the consolidation-The Basis
OF the Deal and What 1t VIII Mean
to the Rice Industry.
The rice mill combine. intended 10 con-
solidate all the mills in the south under one
control, will probably be contaminated
within the next three weeks. The last op-
ton secured was to run ninety days, and
sixty days Of this time have already ex~
PRED.
The report Of the deal caused considera-
bic talk several weeks ago, but nothing fur
Their was heard OF it, and it
was generally supposed that the
capitalists who were looking into
the investment had given up the idea. It
has been intimated, however, by some of
the rice men here within the last day or two
that there was still something in it.
ABOUT FIXED NOW.
A gentleman whose personal relations are
very friendly with the prime movers in the
scheme, told a MORNING NEWS reporter
that from information he had receiv ed he
was satisfied the deal would be con-
summated at an early date. The agents
of the capitalists who are backing
the move have been quietly at work for
| several weeks investigating matters aud
arranging details, and now everything is
| complete for the deal. The agents cabled
full reports Of their investigation in Europe,
and these reports are said to have been very
favorable.
A strong firm Of German bankers is
| backing the move, and the negotiations
hax laa rnoAa fhrnuyh thu Grrr1fa. TOndOT,
branch. Their movements have been made
with the greatest secrecy, and the outside
public has been kept in entire ignorance Of
their intentions.
DON'T KNOW WHO THEY ARE DEALING WITH.
The rice mill men themselves were iguo-
rant as to the parties with whom they were
dealing and knew nothing of them except
through their agents. and many OF the mill
men had little idea that the deal would be
consummated. The best known represent
alive Of the enterprise was Mr. Pembroke w.
Jones OF Wilmington. Mr. Jones is intimately
associated with II. n. FIagler, which has
caused the name Of Mr.. Flagler and that OF
the Stardard Oil Company of which he is
a vice president, to be associated with the
move.
It is not known that Mr.. Flagler or any
other American capitalist is interested Ia
the deal. which is believed to be entirely in
Ine uauuS VI Lu6 EnRllen anu herman Capl-
talists.
BACKED BY HEAVY CAPITAL.
The movers in the matter have ample
capital 1t is understood that their first de-
clsion was to pay half cash for the mills,
and the other half in certificates of the con-
solidated company controlling all the mills
They concluded, however. that they pre-
ferred to control the mills entirely, and
decided to pay cash for the whole. If the
deal is consummated, as it is believed it will
be, they will pay cash down for the prop
erty. This will bring large sum of money,
amounting to several million dollars into
the south.
The MORNING News informant, who is
a well posted business man, said that he be-
Ieved the deal will be of great benefit to
the rice industry in this country. He said
if the capitalists bought the mills they
would want rice to pound, and great deal
more of it than is now handled by the mills.
NOT LIKELY TO INCREASE THE PRICE.
On that account they would not use the
trust 10 raise the price of milling on the
planters, but would offer them liberal in
ducements to increase their acreage, and
would doubtless be willing to make adj
vances to reliable planters. 1t would be to
their interests to increase the production
of rice as much as possible.
The name of Hamilton Disston has not
been mentioned in connection with the deal,
but it is known that Mr.. Disston was In
Savannah about ten days ago, and that
while here he received several long tele-
grams from New Orleans about rice, or the
rice mills. After spending q day or two
here he left, going directly to New Orleans.