The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-08-25
-u S GLASS COMPANY
q stockholder Gives Away Some
81 the idsnssse Thereof
new FACTORIES CONTEMPLATED.
The Old onleers Re-eleeted-.The In-
diana Gas Fields in View for an
Extension of thc company's FaeilI.
ties..About the Finances Of the Big
Combine,

Hon. N. B. Scott attended the meet.
ing Of the board Of directors Of the 2. S,
Glass Company, Of which he is a mem'
Der, at Pittsburgh Tho old officers
wore reelected.
II Is stated that tho company - con
tcmplating erecting several new facto'
RIGS, probably with tank furnaces, in
the Indiana gas fields.
A communication printed in a Pitts
burgh paper, is said to tell a good deal
ottruth about the finances Of the Z. s:
Company. 1t is signed @stockholder,H
and is as follows:
Many interested people wonder why
the United States Giasa Company did
not earn as much the past fiscal year
as the factories composing it earned in
similar period before the combination
was formed. They cannot understand
why the United States earned only a
little over 6 per cent when the Same fac.
tories running Independently earned IL
por cent per annum. Part OF the rea-
son undoubtedly is that the United
States have now about 500, 1000 more
capital on which 10 earn q dividend
than had the separate factories run irl-
divldually. Here are the figures that
do notlie, although liars do figure IN all
our papers but the LEADER.
Good will on is factories, SSSS75, 600;
paid William p. shinn for organizing,
$50, 600; increase valuation paid on
molds, $4,000; increase valuation
paid for presses, $1,000; just paid
Ripley" for patent rights, SS5, J;
total, $685., 000-excesa capital IN the
new company above what the same
things aggregate on the books Of the
old companies. The ymold item
looks distorted, and vet It is not The
average factory credited 1noIds at q
fixed sum, and did not change it at all
from year to year. II was generally the
cost per year Of running the mold
room, and varied with different fact
cries from 1000 to $4,000. The Uni
ted States company paid each factory.
two and a half times the yearly cost Of
running the mold shop, or about $685.
900, ,for what they valued at Sl50, 600.
They rightly regarded old molds as
scrap iron. Presses were put in at
$50 each. Any press builder could re-
place the whole outfit with brand new
style ones at little more than 500
apiece. Good will" Providence
knows We all got enough We
very sensibly kept real quiet, for fear
they would wantto trade back again.
One factory got; 81, 900 for their earn
ing power, and just before the election
they got $S5, 900 more for patent
that really was the foundation OF that
earning power; total, $4,000. Com
Imerit unnecessary. The 5000 item
was payable in common stock. This;
stock was bought on the exchange floor
at the highest price It was possible to
pay for Il, because here was aichance
to bull the market on somebody else's
money and at their expense. They
went at it like genuine stock jobbersi
'ahd bid for 500-share blocks and
whooped Ter up from IS to ~ before
anybody got a chance to fill them up.
They finally got flled. This stock has
served its purpose. II was voted all
right. Who can say it was not badly
needed? Somebody got only 5000
votes while others received $4,000. It
iwasla narrow escape and carries with it
= 49, N1lmN 4