The Providence news. (Providence [R.I.]) 1891-1906, 1895-09-17
M0SLER-C0RLlSS SAFE co.
Consolidation OF the Three Largest
Safe Companies In America.
Event that Marks an Era I'm Safe Bus,-
RESOLUTIONS Back of the New Co.

The contemplated consolidation OF the
Mosler Safe q Lock Company of New
York and Hamilton, Ohio, the Mosler
Safe Company of Cincinnati and the Cor
liss Safe 4 Vault Door Company of Prov
idence, X. L., has reached successful
issue, and the above companies are now
in operation under the name OF the Mos
Ter Safe Company OF New York.
This Is a natural affiiliation, not a trust
and Is by far the most important event
that has taken place in the history OF the
safe business. 1t marks radical change
in safe construction, com bining the only
two which have scientific and intrinsic
merit In their systems. IL seems TO seal
the doom, long impending, of all square
door, so-called burgiar-proof safes, and
practically ends all the bitter and un-
seemly contests OF the past.
The new company is organized under
the laws of the State OF New York on a
sound financial basis, and, contrary to
the custom OF watering, too prevalent in
syndicated companies at the present
time, the assets taken over are much in
excess OF the capital stock and bonds.
The capital OF this company is 81 800. 900,
divided into bonds OF $500, 900, preferred
stock 5000, 600, and common stock $780, =
0O0.
The largest interested parties are men
worth many millions, all of whom are pre-
pared TO leave no stone unturned in ad-
vsncing the business OF the new corpora.
ton.
The officers are: President. M. Mosler.
formerly president of the Mosler Safe &
Lock Company; vice-president, Francis
W. Carpenter, president of the American
National Bank and president Of the
Rhode Island Perkins Horse Shoe Com
pany, Providence; secretary, Gardiner G..
Sims OF the Armington q Sims Engine
Company, and vice-president of the
Globe National Bank OF Providence; treas.
urer, William Mosler, late vice president
the. Mosler Safe d Lock Company.
The directors are: Joseph Bsnigan, the
multi-millionaire, president of the United
States Rubber Company and president of
the American Wringer Company of New
York; M. Mosier, Francis w. Carpenter,
Gardiner Z. Sims and William Mosler.
To the keen observer Of events, espec-
tally to one conversant with the safe busi-
ness, 1t Is easy to foresee the power and
influence of this aggregation OF intelli-
gence and wealth on the future destiny
o; safe manufacturing.
The manufacturing plants of this COM
pany are the largest, most modern and
best equipped OF their kind in America.
The head Offices and salesrooms are situ-
ated corner Broaoway and Duane street,
Nev York. Large stores are also oper-
ated in Chicago, Boston, Philadelphia, 81.
LOUIS, Kansas City, San Francisco, Gin
cinnari, London, England, the cities OF
agencies i'm all the important cities of the
United States, as well as recently estab-
ished agencies In the Leading cities OF
South America.
The above plan of consolidation and its
successful completion as outlined was
consummated through the efforts OF j.
A. Shibley OF Dean Il Shibley, bankers,
a n H.. 90 Il
placed privately, not a share being offered
on the public market.
Mr.. ". Mosler, the president and gen
eral manager OF this company has given
the safe Business his undivided personal
attention for over 30 years, following in
the footsteps OF h;s ia ther, Mr.. Gustav
Mosler, and il has been through his
practical knowledge as 20 the market re-
qulrements and processes OF production,
together with his genius of inyeoIlon
that places hirn today inquest onSGly ut
the head OF the safe industry Of America.
For some years Mr.. MOsler used al his
endeayors in the Insaotacture OF Gre
proof safes and vaults. thereby building
up a largo and lucrative business and
having the proud distinction of never
losing the contents of one OF bis safes
by fire. Later on he recognized the fact
that no particular attention vas being
paid TO the manufacture of burgiar-pTDof
safes, for the average burglar was be-
coming more skillful and daring and in
many cases opened the best makes OF
safes as II they were mado OF pastebOard.
Mr.. Mosler found that the day of the old
square door construction OF burglar-proof
safes had gone by, so he went 10 work
and after many experiments built his
now famous screw door safe.
The Corliss safe, i'm the mtan time,
the inventive genius OF Mr.. viii
lam Corliss, OF Corliss steam engine fame,
was rapidly becoming an important fac
tor and the competitive fight became
bitter and expensive Mr.. Mosler saw
that the brains and merits OF the safe
business were pretty much all within the
circle that contained the Corliss and
MOsler group, and reasoned that an ANAL
gamation of interests woald place the
special construction OF safes under one
head aud thereby make a great saving to
the investing public. Hence the consoli-
dltion.
The works at Auburn will soon be put