Evening star., 1896-08-04
success has been phenomenal and out of It
the Moores have made fortunes for them

success has been phenomenal and out Of 1t
the Moores have made fortunes for them
selves and for others.
o. c. Barber, the president of the Dia-
mond Match Company. has had control OF
its actual working, though the Moores
have been recognized as the real people
behind the company. Mr.. Barber is
practical match man and he owned large
factories at Akron. Ohio. These factories
were taken in as part Of the assets of the
old Connecticut corporation. and Mr.. Bar
Ter, who had been the ruling spirit in the
first corporation. became the working head
of the new. The finances of tho company
however, have always been in the Moores'
hands.
Diamond Match stock was not specu-
lative security in the true sense of the
word during the first two years Of the COM
pany's existence. 1t went ahead making
money, and dividends were paid regularly.
At the time Of organization the capital
stock was 100000 1t kept extending its
business and pure hasng other match fac
tories and as it did so stock was issued at
par to stockholders. The Increases in the
capital stock were made from time to time,
until the last one in February, 1895. when
the stock was increased from $1O,0O0,OOO to
81 600, the present capital.
The last million dollars was used to save
timber which had been threatened in the
forest fires in northern Minnesota, and this
timber was cut and hauled to water for
preservation.
At the time Of the last annual meeting
President Barber eSumated the value or
this timber at 81 100000.
In 1883 the Moores organized the Ameri-
can Strawboard Company under the laws
of Illinois to control the manufacture Of
straw board and wood pulp. The company
acquired some twenty-five paper mills, To-
Gated in eight states, and for a time it prac-
tically controlled the entire output of
strawboard. The American Strawboard
Company has a capital stock of $6,OO,OOO.
For the last two years the Moores have not
been interested to cOnSidera hlp extent
in this corporation.
The Biscuit Company.
The last of the companies organized by
the Moores was the New York Biscuit
Company, which was incorporated in 1890
This was rival concern to the American
Biscuit Company, and bakeries in a number
of states were purchased and the business
of making bread and crackers actively en-
gagged in. The capital stock of this COM
pany at the present time Is $9.OOO,OOO. 1t
owns bakeries in nine states. three having
been purchased this year. The principal
one of these was the Mason bakery in Bal
timore. which was acquired by the com
pany in March. The stock of this COM
pany has been active speculative security
since its formation.
Wonderful Rise in Stock.
The present campaign in Diamond Match
and New York Biscuit stock was organized
last November. 1t was the intention to
begin the campaign in December, but the
message of Cleveland on the Venezuelan
question caused postponement The
movement really began in March, the stock
selling around 13O. The advances in this
stock were phenomenal and seldom a day
passed that the record Of the previous day
was not broken. The highest quotation
reached was on May 4, when the stock sold
at 24S. From this figure the quotations Ge-
clined to 22o and then broke to 200. 1t re-
covered the same day to 1861. The next
day the stock sold up to 217la and the fol-
lowing day 1t sold above 20.
Speaking of the collapse John J. Mitchell
president of the Illinois State and Savings
Bank. said: The banks will not lose, fer
they have anticipated just such a crash as
happened yesterday. The speculation in
the stock could not last. everybody knew.
A panic in the stock was bound to result.
For some time Chicago banks decided not
to loan any more money on Diamond Match
stock than they already had loaned-say,
160 per cent. This collapse will clear the
atmosphere, and don't anticipate any seri-
Gus results outside the parties directly con-
cerned.'
What the MOOrcs Lost.
1t is estimated by those In a position to
know that the Moore Brothers have lost
between s4,0OOOOO and s. 500, 900 in the Da-
mond Match deal. Some say it has wiped
out every cent Of their fortunes.
Chicago banks and bankers, who hold ap-
proXimately AOO0,00 worth of Diamond
Match stock as collateral for money loan
ed, will not press the borrowers for a set
Element To do SO would be unwise, and
might precipitate a panic. This the banks
are bound to avert at all hazards just now.
Another thing the banks have decided to
do, and it is to accept the stock of the
Diamond Match owned by the Moore
Brothers at cash value of 170.
Such was the basis of settlement agreed
uI On at the meeting Of bankers held late
last evening.
Probably the heaviest losers in the col
1apse of Moore Brothers. next to the
brothers themselves, are the brokers who
had been doing business for them on the
exchange. Very few, indeed are the brokers'
too, who did not do business in that line.
Those most affected are BreeSe IL Cum
mings, Baldwin l. Farnum, E. l.. Brewster
& Co., and Wrenn & Co.