The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1896-08-05

block of security will be underwritten.
think 40 for Diamond Match will not,
however, be the figure. That is too high.
The loans We're a good deal under that
figure. / think that $50 will protect the
people who advanced the money!
SOME ANCIENT HISTORY.
CHICAGO, Aug. 4.-William II. and
J. II. Moore. the members of the firm of
w. H. and j. II. Moore & Pursell, made
their first movement as promoters in
putting on the market the stock of the
Fraser Axle Grease company. While
this company has been but little known,
the Moores made considerable money out
of it. The first incorporation of any
moment in which they We're Interested
was the Diamond Match company, orig
inally Connecticut corporation formed
for the purpose of controlling the manu-
facture of matches. 1t had not been sue
cessful, however, and at the time the
Moores took hold of it it was in dis
rupted state, and competition nearly
had caused its downfall. The present
company was formed, which took in the
property of the former company. Since
the formation of this company its sue
cess has been phenomenal, and out of it
the Moores have made fortune for
themselves and others. O. c. Barber of
the Diamond 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 in Akron, Ohio.
These factories We're taken in as part Of
the assets of the old Connecticut corpo-
ration, and Mr. Barber, who had been
the ruling spirit in the first corporation,
became the working head of the new
company. The finances of the company,
however, have always been in the hands
of the Moores.
The Diamond Match stock was not
speculative security in the true sense of
the word during the first years of the
company's existence. 1t went ahead
making money, and dividends were paid
regularly. At the time of the reorgani-
zation the capital stock was IS, O00, COO
1t kept extending its business and pu.-
chasing other match factories, and as
it did so stock was issued par to stock
holders. 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 $40, 900, 900 to
$1l,000O00, the present capital.
Much money was spent to save timber
which was endangered by forest fires in
Northern Michigan. At the time of the
last annual meeting President Barber
estimated the value of this lumber at
$1,000, 600.
In 1888 the Moores organized the
American Strawboard company, under
the laws of Illinois, to control the manu-
facture of strawboard and wood pulp.
The company acquired some twenty
five paper mills, located in eight states,
and for time it practically controlled
the entire output of strawboard The
American StraWboard company has
capital stock of $6,0OOO0O. For the last
two years the Moores have not been in
terested to any considerable extent in
this corporation.
The last of the companies organized
by the MoOres was the New York Bis
cult company, which was incorporated
in 1880. This was rival concern to the
American Biscuit company. Bakeries
in number of states were purchased
anu ticil buSlIeSS OIL making DfSau and
crackers actively engaged in. The cap
ital stock of this company at the pres
ent time is $9000,0 900. 1t owns bakeries
in nine states, three having been pur-
chased this year. The principal one of
these was the Mason bakery in Balti-
more, which was acquired by the COM
pany in March. The stock of this COM
pany has been an active speculative Sc
curity since its foundation.
The present campaign in Diamond
Match and New York Biscuit was or
ganized last November. 1t was the in
tention to begin the campaign in De-
cember, but the message of President
Cleveland on the Venezuelan question
caused postponement. The movement
really began in March, the stock selling
around at 130. The advances in this
stock were phenomenal and seldom a
day passed that the record of the pre-
vious day was not broken. The high
est quotation reached was on May 4.
when the stock sold at 24S From this
figure the quotation declined to 225, and
then it broke to 200. 1t recovered the
same day to 20615. On the next day the
stock sold up to 2171a, and on the fol-
lowing day sold above 300