The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-11-23
TROUBLE ovERTskES sTRUST.
THE WIRE NAIL COMBINE GOING
TO SMASH.

An Effort to BE Made to Wind Up 1t
Affairs by Dec. 1-Protts Swallow
ed in the Purchase at kound Prices
of the Opposition Willis Constantly
Swinging Up-A Mig star of In
snectors Another Expansive Lux
ury.
Chicago, ILL.,, Nov. GA morning pa
NOR saws: 1.-The great wire nail trust,
which has levied tribute on the people of
tbe United States and Canada since June
, 1895. has collapsed and viii endeavor to
mind M its affairs Dec. l. Sales agents, rep
rasenting the mills within the pool, were
Yesterday scrambling to sell nails at $.7O
VOC keg in Chicago, which islprecisely 81
oer key below the trusts circular price.
IA iobbers were selling in lots of from
o,o m one thousand kegs from store at 81
,or keg. Before the end Of the present
rock the price will undoubtedly be down
20 q % per keg, or within 80 cents of the
Lowest price they ever sold at here.
aThe trust has thrown up both hands
ord in a circular to the jobbers gives them
liberty to sell at any price they please.
nTroubes have multiplied on the trusts
boad very rapidly during the last eight
r,orths. In that time the stream of dol
,ors noured into it's Golfers during the
oorlv months of it's career, had to be used
n buv up at round prices the opposition
mills which sprang up on all Sides as we'll
As 10 meet a multitude of other expenses
Mt the least of these was the maintd
nance of a regular force of inspectors q
moA as large as the government seq
service, TO keep, all the members offs
pool 'toting fair For this and kiTeu
purposes the trust imposed pool t OIL
$50 per keg on all the nails sold us
membersA and rebated to them the
ence afterthe objects sought werq
pished A Nfund of $1,500,00O was flurhea
10 members on the showing me- Iour
months ago, but since that me the
trusts officials and committed nave IN
Cured liabilities of much NOR IMAM thls
in their desperate fight to keAfshe trust
going These liabilities wiz nave 10 De
met by the individual mills composing the
trust, and long period nelsatloh IS
highly probable.
THE advance of 15c pc keg ordered by
the trust at It's March s1rSlutA6 II ehAS ny |
was the last act which r3rked the trusts
doom This mi the Ia J price of nails at
Pttsburg at S256 whio under the pecu-
liar terms of its nail cfd meant that the
lowest figure at Whicany nails could be
bought there was So O5B Ter keg. This meant
e "a in Chicago sndlnade the range of
commercial nails 10 lestern consumers 81
to IS per keg. ThBresulted in an i'm
mense curtailment the demand, and In
10 oil 0t,pr
of its mills and thJw its workmen out OF
employment in orer TO reduce the output
TO comply with pnsumers needs.
1.-THE entire secs of nails by the trust
mills during Juy were 10000 kegs and in
August but 25QO kegs, though the output
agreed upon fl those months was 5000
and 5000 leg respectively. The March
output reached $4,000 kegs.
~. H. Paris of Cos Sears building, Bos-
ton, was tic originator of the pool, and
was its commissioner To him was dele
gated the tssk of holding the association
together and for this service he collected
one cent pei keg on each key of nails
sold in this country.
Besides large appropriation for sec
retaries, saaries and maintenance of the
Inspection bureau, the association. now
has on its hands a large collection of
leases of Factories, which it closed up, and
also numerous contracts with manufac-
turers of mil making machinery to pre-
vent them from selling to the trusts COM
petitors."