Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-22
THE BUSINESS WORLD.
New York and Other Eastern Flour
ing Millers to Pool Issues.
A LITTLE SENSATION In SALT
Tho st. Louis Exchange Refuses to Kill
Antitrust Quotations.
FIRES, FAILURES AND RAILWAY NEWS

NEW YORK, July 21.-There was to-day
completed an organization of the city -four
millers which it is claimed will do away
with the sharp competition that has ex-
listed for some time, and which had forced
prices to an uncertain and low basis. The
mills that have agreed to consolidate are
Heckers, or Croton Mills, the Jewell Mill
ing Company, the Kings County Milling
Company, the Staten Island Mills and
Jones & Co. s Mills. The capital of the Or
ganization is 81, 100000
The new company will not seek to COM
pete with the Western trade, it is said, but
will confne its efforts entirely to New York
and its immediate vicinity. John Hecker,
in speaking of the matter to-day, said: ''The
proposed company Is in no sense q trust.
The price of flour will not be increased.
The reduction will be made in this way:
Where we now employ five sets of buyers,
one will be found sufficient and this will be
held good regarding statesmen, bookkeepers
and Office employees OF course, the force of
work in any one of the mills, but nothing
like the force employed in all five mills"
viii you try competition with the East
II do not think so. Our trade in the East
Is well-establiJhed one, and we have
enough work to do to supply the homo
supply"
a dispatch from Albany says: A confer
ence between representative rye flour mill
lers of the East has been held here. The OBJ
Ject OF the meeting was to take action which
would better the condition of the milling
business. Reports showed that not a single
miller had made dollar ofprof1t in his bust
ness during the last six months. A basis of
profit was discussed, and 1t was finally
adopted as the sense of the meeting. that
the millers might reasonably expect an
average profit Of 80 cents a barrel on the
rye flour they make. 1t was also adopted as
the sense of the meeting:
"That it Is not the purpose Of the rye mill
ers to fix, from time to time, the price to be
paid for rye, nor the prices at which the
product from milling rye shall be sold.
Neither is it their purpose to attempt to pre-
scribe methods OF carrying on the business
OF rye milling or interfere in any way with
a miller as to how he shall run his business,
but the sole purpose ts to endeavor to make
the business pay profit commensurate with
its risks"
The fact that many millers were adulter-
ating their products with wheat and other
mixtures, which lessened the price, came in
for severe censure.
naturally ground an increased amount of
flour last week. The weeks output was
1ss,970 barrels, averaging 81, $50 barrels
daily, against H7 $50 barrels the previous
week; l33, $50 barrels the corresponding time
in 1891 and 1900 barrels in 1890. There
were 10 mills running to-day, and the weeks
work promises to exceed that Of last week.
The flrmness in wheat has still further
helped the flour trade, and for week back
the sales by local mills have been q good
deal In excess OF the manufacturer. Prices
have been marked up 10 cents to Is cents
per barrel. Foreigners show the most inter-
est, ana at Sd advance they are quite free
buyers. The best feature of the situation is
that bakers are being bid for more.