St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-05-10
A FAVORABLE EFFECT
Likely to Be Produced Here
by Eastern Cordage
Failures.
Their Northwestern COrdage
Works Expects to Feel
a Benefit.
It's Manager Descants on
the Probable Outcome
Thereof.
Orders Booked Far Ahead OF
the Output Of the
Plant.

The closing of cordage factory at
Brooklyn, n. Y, causes renewed in
terest among those connected with that
line of business. The suspended con-
Germ proves to be another member or
the National Cordage company. or trust.
Charles s. Rogers, president of the
Northwestern Cordage company, inter
viewed yesterday concerning the effects
of the failure of the c0rdage trust upon
the business of the company, said: I'm
the first place, this ST. Paul concern
has 10 possible connection, near nor re-
mote, with the trust which has failed.
The National Cordage company, or
trust, owned or controlled forty Irvine
and cordage manufactures in the
United States and Canada. There are
about seven independent companies,
like the Northwestern, outside OF The
trust. 1t is Impossible to cleary detne
the probable effect OF the failure Of the
trust at this time, but lnasmuch as
it is we'll known that their last attempt
ed issue of preferred stock indicated
they wanted money. it seems to be un-
derStood quite generally that a large
part of their stocks Of raw and wrought
material were hypOthecated at their diff
ferent points of storage. and as it will
take some time for any kind OF an adj
justment of their affairs in order TO re-
sumo the manufacture and sale of their
goods, the effect on the outside, such as
ours, cannot be otherwise than favora-
bic.
The Northwestern Cordage company,
Of st. Paul, is owned and controlled by
some of the leading business men and
capitalists of Central Ohio and the
Northwest. Their basis of credit has
been thoroughly investigated and pro
nounced absolutely sound. Their paper,
by the bankers Of st. Paul and those of
the East, stards as gilt edged" Their
machinery and entire plant is superior
to any other cordage plant in the world,
for it is the most recently built plant
and possesses improvements that can
be found in no other. Their raw product
was purchased early at low prices. and
their sales at good profit have been
made far in advance of their manufact
ured product. Orders are coming daily
in carload to tive-carload lots,
not only from as far south
as Kansas City. but also from the
Northwest as fax as the Assinabolne and
Saskatche van valleys. Up to this time
most of our product has been binder
Irvine, but our rope machines, making
rope from one-eighth to three inches
technically known as nine-inch haw-
ser) are nearly all in place and running.
We find very generous disposition on
the part of our st. Paul wholesale trade
to extend us business in our depart
ment. in compliance with the promises
they made when our company was in
augurated. On the other hand they
realize that our promises to the size and
capacity have been added to by more
than 25 per cent. We are giving en-
ployment to daily force of 425 hands,
and are distributing i'll the Como dis
trict $4,000 per month. It. benefits the
local trade of that locality, and the gen
tlemen there will tell you that good
times prevail with them. We have dis
eliminated in selecting our employees in
favor of those living in the immediate
vicinity of our plant, and the favorable
effects of that course upon real estate
and the rental Of houses have been very
marked"