Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-08-08
big TOBACCO TRUST.
Something Like One Organized by
Cincinnati Dealers.
THE WAREHOUSE COMBINATION
Which Has Been So Much Talked
OF Is Effected-An Large Ware
Houses in the City Included in
Deal-A New Corporation and
Increased Profits-An Iron Glad
Agreement.

CINCINNATI. o., August The big
tobacco combine is al last definitely ef-
fected. The managers OF all the ware
houses interested met yesterday In the
Office OF the Globe Warehouse Company
for final consideration OF the articles OF
agreement. There had been some diff
ferences of opinion regarding the de-
tails, but these were reconciled, and
when the time for signlng the compact
arrived every one Of the six firms placed
It's signature TO the paper. The ware
houses so doing were the Globe. the
Bodman, the Cincinnati Warehouse, the
Morris Warehouse, the Miami Ware
house and the Walker Warehouse.
Respecting the charter IL was decided
that the laws OF New Jersey secured the
most favorable conditions TO the consol-
idsted houses. and the charter was ac-
cordingly ordered secured from the
State. A small assessment only Is re-
quired TO be paid yearly TO New Jersey
for the charter. 10 is expected that the
charter can be had by the end OF this
week. TIL that time the election OF
officers is deferred. In the meantime,
the business OF the six houses Is 10 be
left in the management OF two trustees,
who will have sole control.
II was settled that each house is TO
keep working along under the combine,
just as before, with the exception that
IL will be subject 10 the government OF
an Executive board 10 be composed OF
one member from each house. The de-
cislon OF this board Is TO be given on all
disputes arising, and it IL 10 be final In
every case.
IL is
ONE OF THE MAIN ARTICLES
OF agreement that every warehousemAn
entering into IL thereby binds himself
not TO go into the business on the out
side for perlon OF five years after with
drawing. This applies 20 all territory
within distance OF 200 miles from Gin
cinnsti. This Is counted on 20 give tha
combine absolute security against any
trouble arising from members with
drawing in the future for any reason,
and IL is looked on as one OF the bull
warks Of the consolidation.
The capital stock Is TO DO placed a.
81, 500, 600. IL IL the calculation that
the six houses will take about all but
$500, 900, and the latter amount only
will go upon the market. Some OF the
combine managers affect to believe that
they may not even allow that amount 20
go among the investing public, but will
keep IL themselves. The men who
managed the deal are quite exultant In
the success they have achieved. They
say that by the economies effected they
will easily clear 8 per cent. and be able
besides TO lay aside 100000 surplus
profit every year.
The com mbine, IL Is expected, will dis
pense with u number OF agents and em-
ployes that the rivalry OF the individual
houses made necessary. Many OF these
are in Kentucky and will be among the
first TO feel the effects Of the combine.
There will be economy all along the
line, however. wherever II Is possible 20
secure Il, and 4: is on this saving OF et-
pense that the managers rely largely 10
obtain these expected profits. Mr.. Loe
Brooks is looked on as likely 10 become
the President Of the combined company.
He says, however, that he does not de-
sire that position and expects merely 20
be member OF the governing board.
Mr.. Hoffman, OF the Bodinan, and
Henry Feltmsn are named as likely %
be chosen In case Mr. Brooks refuses
10 serve.