Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-09-28
SAFE COMBINE.
ELEVEN BIG CONCERNS ABSORBED By A
WEALTHY SYNDICATE
To Freeze Oai Compaddon-Ihe Trust VIII Gloss
Up at Least Six Of the Eleven Factories They
Now Control aad are Expected in the End
to Consolidate With the Combine.

PHILADELPHIA. September 27.-The
rumor that has been In the wind for the
last few weeks relative 20 a second safe
combine is now known TO be an actual
fact. The trust has been contaminated
bv Griswold & Gillette, the New YORK
bankers. and will take effect on or be-
fore January 1. 1893. This combine Is
one OF the richest in the country, being
backed by over $4,000, 900. There Will
be eleven concerns Incorporated IN the
trust. They are the MOsler SAFE ana
Lock Company, Of Hamilton, Ohio; the
DiebOld Safe and Lock Company, OF
Canton. Ohio; the National Safe aud
Lock Company. of Cleveland; the York
safe and Lock Company, Of York, Pa;
the Barnes Safe and Lock Company, OF
Pittsburg; the Miller Safe aud Iron
Works, of Baltimore; Mcneil & Urban,
OF Hamilton, Ohio; the Cincinnati Sale
and Lock Company, OF Cincinnati; the
Carey Safe Company, Limited, Of Bui-
falo; MOsler, Bachman a. Company, OF
Cincinnati, and the Damon safe and
Lock Company, Of Boston and Philadel-
phia.
Outside of the Observation-Disclosures
combine there are no safe manufacturers
OF any importance not included in this
new deal. The statement that has been
made by Mr.. GriSwold that the new or
ganizatiOn will not be a rival OF the
Herring al-Maryin trust is true, but
its truth lies IN the fact that they will
be one and the same company having
two different names. In speaking on
this subject to-day the manager OF
one Of tue companies going into the
combines said;
THE TWO COMBINES TO COMBINE.
"There isn't the slightest question
but that the two viii be under the same
management It is only four months
since GriswOld & Gillette arranged the
Herring Hall-Marvin cOmbiue. IL mas
been a success, and now they are gath
erlng up the other large concerns under
new name. The name is only a
sweet morsel for the public tongue.
Eventually there will be but one great
combine under one name"
''Why do the private companies go
into the trust?" was asked
Because 10 ia 70 their advantage. AS
matter Of fact the safe companies
have an been losing money, or at least
have not been making any. They are
sick of the business and want to get
out and this syndicate gives them a
golen opportunity. For instance, here
is certain firm which has a large stock
Of safes, new and secondhand. To get
them out Of the competition the syndt-
cate will pay them the full value of
their goods and great deal more for
the good will, as we say.
''Will the different concerns continue
business after the cOmbine?"
SIX FACTORIES WILL CLOSE.
"I understand that Of the eleven six
win be closed up so once, and probably
most Of the others will later"
do you think there will be an ad-
vance In price as a result of the COM
bine2"
'.No, / think not. The new arrange
ment will cut down expenses about sew
enty-fve per cent, and this reduction
will enable the manufacturers TO make a
good profit. AS things now are, the
selling expenses OF each company are
about the same. Now If there Is only
one safe company one man can cover
the territory that now requires dozen
men. One salesrOom In city would
be enough. The Herring Hall Marvin
trust IS closing up all the rooms in town
but one This is an immense saving,
and this would at present prices place
the safe business upon a paying basis.
BY this move competition is done away
with.
''But without competition there will
be fewer safes sold, was suggested.
ayes, that is true, but what are sold
will be more reliable parties, and the re-
duced expense Of collection and loss by
poor sales will fully compensate for the
decrease in sales"
"What surety has the public that
prices will not be advanced as soon as
the combine is 10 full operation"
"NOne that / know. They will GER
taiuly control the entire field. Danger
Gus rivals will be bought up and all
small concerns will be frozen out. II
looks like a monopoly. The capital
stock. I believe, is from five TO eight
millions"