The times. [volume] (Richmond, Va.) 1890-1903, 1892-01-31
AMrRIcAN qOBAccO CO.'S AFFAIRs.
Good Showing Made at the Corporations
Annual Meeting.

From the New York Tribune. Jan. 29thJ
The annual meeting ofthe American Iobac-
co Company was held on Wednesday at tho
company's Offices in Newark, n. j.. under the
laws Of which State the company 10 organized.
The old officers were elected with the eAcep
ton of some few changes and additions.
The success OF the company during the last
year. the second OF lts existence, has been
most satisfactory. In addition 20 the cigar
cite and tobacco manufacturing concerns,
which originally formed the company, mo
factories of Marburg Bros, CAL. Ak ~ Co.
the National tobacco Company OF Louisville
and the Whitlock Company of Richmond,
all OF whom manufacture either smoking
tobaccOs snuff. plug tObaccOs or cneroOls,
have sold their business to the company:
Now that the theory and methods OF the
American Tobacco Company arc becoming
better known 20 dealers and purchasers, that
old and unfounded objection 10 "A tobacco
trust. as IL was sometimes enormously styled
bv the ignorant, has died out. 10 10 now
thoroughly understood that this is OH IN
dustual corporation. pure and simple, carry
ing on a vast business ia the most Intelligent,
liberal and progressive manner. 10y cnee'u =,
OF unnecessary expenses and also beng IN
n position TO purchase supplies IN I'M
mepse quantities at the lowest prices,
il is. therefore, enabled not to
raise prices-which IS really the hrst
object of a Genuine trust: but, furthermore,
duct of It's business. The Mall-street marke
has not been used 90 boom the price or the
stock. create an immense speculation ana
then as suddenly drop It again. IN order that
the insiders may reap immense dement's lhS
evaten has been pursued by weil-known
trusts. and is in direct opposition 20 the con-
duct and policy Of affairs as carried on IN the
| business of the American Tobacco COMPANY
The tendency Of this age IS toward consoll-
/ dation and Capitalization. and the toOaeco
/ and cigarette manufacturers have simply loi-
! lowed tine drift OF public policy 10 use
| fo~iiiar simile. a trust is a despotism. like
! Russiq. while the American Tobacco Com
/ any il a gigantic industrial corporation.
! with nearly a thousand stockholders, employ
| inc thousands of operators, who, IN tner
! turn support more thousands depending on
| them and IS. in reality, republic. Ike the
/ United States. .
some figures we're presented at this meet
/ inc which show the large interests involved,
and give some slight idea OF the employment
tbis company gives 20 Il large number OF
neople. who are paid high wages. while at tue
! serne time the stockholders who provide tho
capital by which the business IS carried on
receiye n fair and reasonable dividend. IL IS I'M
/ donhtedlv true that great many people VINO
have become dissatisfied with the railroad Sc
! curities. Western mortgages ana other forms
! Of investments. which are haDie 10 eInel
| e,ddan market changes OF absolute deprecla-
Years ago in England by investing IN tho
stocks and bonds Of the large industrial cor
porat ons for two reasons one tney Obtain
a seourity virtually equivalent TO the best rail-
Toed stocks NJ slightly higher rate OF inter
az ard where these companies have been
formed and are conducted on strict business
principles they have a better ihges YES. .sl'.
another reason - IN reality the tact that the'e
ierge Industrial corporations are IN many
cases virtually cooperative. That IS to say. as
in the case of this company much OF tne stoS
il held by the employees andits customers VINO
tbnsl ecome corporate partners ~ the business,
aud not only seek to extend the business Zines s but
80 thew do with the concern and are thus en-
49, 40 ~ so many unpaid agents. These cor.
,,S are destined within the next few
Years undoubtedly e become not only m re ss
popa =, he same way that they are ID
Europe to-day where most Of the large
public works and great com,nerc,al uiura'
tsE,nss are conducted by industrial corpora