Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1892-03-07
COMBINE OF CATTLE KINGS.
Armour, Swift and Morris, Dressed Beef
Moguls, Consolidate with the
Union StocIkyards Company.
New York Heral dl

The Chicago junction railways and the
Union stockyards company of New Jersey,
which is the full name of the big Union
stockyards company Of Chicago, held a spe-
cial stockholders meeting in the Fuller
building, Jersey City, yesterday. the Chi
cago company is organized under New Jer-
sey laws and is obliged to hold its meetings
in that state.
President Fred H. Winston, ex-minister
to Paris, came on from Chicago to preside
over the meeting, which was called for the
purpose OF approving OF the recent action of
the directors in entering into an important
contract with hesSrs. Swift, Armour and
Morris. the monarchs of the dressed beef
trade. These three men control about one
half the stockyard business in Chicago.
TO RUN FIFTEEN YEARS.
The agreement which the company has
made with them provides that for fifteen
years from July l, 1891, the three cattle
kings are to give all their business of
Strengthening, packing and canning and
handling of live stock at Packington, Chi
cago, or within two hundred miles of Chi
cago, to the Union stockyards and transit
company, which is a subordinate company
to the main corporation.
The three moguls guarantee that within
six years from July last theicompany shall
collect in the usual fees for the use of the
yards the aggregate sum of at least 81, 000,-
600. The parties to the second part in the
co ntract-MesSrs. Armour, Swift and Nor
ris-pladge themselve not to establish any
stock yards of their own or in any way to
compete with the business of the company.
They will turn over to the company the
property of the Central stockyards COM
pany-a rival concern which Mr.. Armour
and the others started-and they will dis
continue all suits against the Union stock
yards company. They will convey to the
Union stockyards company the 1000 acres
at Tolleston belonging to the new Central
company and discontinue the use of the re-
naming 1900 acres.
THREE MILLIONS.
In consideration of all these privileges the
Union stockyards company transfers to
Messrs. Armour, Swift and Morris S., 000,-
600 in fifteen year per cent bonds, which
may be exchanged at any time for an equiv
alent amount in the stock of the company.
OF the 100, coo shares in the stock of the
company, @, 500 were represented at the
stockholders meeting yesterday Dy about
fifteen gentlemen OF these ~, 500 shares
the proxies for $4,000 shares were voted by
Rowland Davis of Blake Bros, brokers,
No. 5. Nassau street, this city, in ratifca-
ton of the contracts. The only negative
votes were on $500 shares Of stock. They
represent the smaller dressed meat men in
Chicago, who fear that they are going to be
Disseminated against in the matter OF
charges by this combinatiod OF the kings in
the business.
After the ratification Of the contract the
stockholders meeting adjourned.
Subsequently directors meeting was
held at the New York Office of the company
in Aldrich court. Among others present
were j. 9. Adams OF Boston, ex-Minister to
England Z. J. Phelps and ]. H Prince OF
Boston. Some minor details in the way OF
carrying out the new combination were ar
ranged for.