New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-06

. s,s. the National Cordage Company out
~ t,cic,,,ic. but said that overtures had
to, made 10 him for assistance. Tile directors Oh
~" ,oI,r Good Company held a meeting in the after
noon. and appointed COMMITTEE cohsiS""s v,
,ann q J,nlIus. Controller Theodore ". Myers and
,m.. ID Ieary to receive any proposition tilat
,,. -, made by the National COrrage Company
, -, make any preliminary arrangements that might
w. ocessory Nr. jenkins went TO the Office OF
lanes n waterbury, No. 49, Fron,-S In the after
noon Ger the purpose OF opening negotiations, but
nc wa, unable TO see Mr. waterbury.
ur Good when AT his Office by Tribune
n,oor,er late In the afternoon said that, although
IN. National Cordage people had not as yet appnel
70 him he thought that they would do so in a day
- ,o >. In fact It is the only thing for them to
do" he said 49,
:. What terms would you be willing to make WIFI
tho National Cordagc Conpanyl asked the reporter.
The ONLY arrangement that could be made would
no n practical absorption OF that company by inc
one | represent. We would, however, make the
terms liberal"
I'm, .oss to tie stockholders OF the National
cor,,cc Company wtuld not be great, them was
sugge ted. .
II d, ltt tl-Ih that they should lose anything
q, nil \ consolidation 81 the two companies wouid
destroy the competition which, has ruined the Nauoha
GO npany and tue prize, void go up 10 their HOT
nal pla,,s The torla.e br Is one OF the best
If carried Oh under favorable conditions. VINE
lighting the National Cordagc Company we ioI ,rSa
the pice Of Irvine down 10 . II cents pouhu. ine
price. was too low and no profits could DE maui. ;
owing to our improved machinery We cn"lc va.
neurl; even bui the National tOrdage company
,nuld not do -. II consolidated t' conipahi''
he price would b. put up about / cents pound,
which il a fair price for the product anu "m'"
would allow for substantial profit -. v,,,ono,
f. l.. Bach. former cmpoyc ol the ; .sn,!o" 80
Coriaee Company now with Jchn Good. intclcs 10
push hi, suit against III" National COrdhge company
Mr. Balch. as minority Stockhold"r, began Plooc'u
ING, against the National tordngc company over Il
charged The offers and directors with paving d
drud, when til, no profits, IN ORDER 10 pliEe
n fl,orlLc market for their stock. his dpphciu11h
for m order permitting lin to cAhHlu" tn' uo"N'
nf I'M. 60 n ,yinv wa, Ia h. argued on May -
The developments Of the last day or Two ne
said ,c,irIday, entirely support my belief tiit me
affair, Of the company have not been MAJ 10
they should have been. / studied the market pretty
carefully. and knew that ia" company was nov nl,h
Ing money enough 10 pay the DIVIDENDS ".ph 1t "r,
ciar,d. The din ldend> on Tie Pr'irri'N ,y1s" ,
nil rirht q the SloO0o 900 common Stock aoout
W U.,OOD Wa held bs those In Ill" pool. aild W..
di, idrud, declared this portion were merely tuin'u
hack into fl. stock II th" company. Ihr dlNlu.IIu
ou The .JppD.OOO held los the puihic W'f" paul: oi
,o,r.. An order T. keep MP Appearances seven diVl
demo, have been declared III all ihoiuuiS '"c 'S'
one ia Nay ,t A., o,,
pany made about $1O,O0lD oh binding tNihc. IVY is
t,L,,i.s vrr,. over :s;UUO,OOO. A. an example OF
Nm. great drains made upon the company, IL WIS
obliged Ia bay one HO,t0n factory worth ABOUT NV
~, for .i.2cO.oro. . g..
According 10 tie statement OF the company Il, us
last meeting In January, it, original capilai WIS
~ 10000 and II lad bad Two SURPRISES oi 81 fuo'
90 aud ~ 10000 rc-pccuN ely There mus nav
been then u free capital % si,jOO.OO). What has
IN Judge Howard ". Hayes Of Newark Mr. Halch :
datcly 10 have tie receivers brought into The SUIT Is
defrndaufs,