The times. [volume] (Richmond, Va.) 1890-1903, 1896-10-09

country Having got the capital b'cdLtd
the promoter turned his atteni'n ~ &C.
Quiring the properties. lie sot "'uvhs
from some OF the manufact AZ srs OF u
tobacco. but the largest Two cC.icrns.
the Drummond Tobacco Company AID ire
Light az Myers Tobacco con,'s.iy. ttth
of ST. Louis. fatty refused even 10 cen
slider any oifer whatever for tnsir ;'tJp-
critics. 1t was believed that u woiid pe
unavoidable TO investors 10 iosm Pug
tobacco trust with tie Two ctn-tah'es
ON the outside and so the scheme VIZ
abandoned.
Discuss,on OF Il was not given W. row
ever. By either the manufact arr rs ttIc or
the capitalists on the other siue Oh hs
water AoOut a year ago, r. u h'us
more. the manufacturers OK piuS 'So"eeo
began nghting among themselves ,'nu
everybody was ready TO Sniie efe'yhooy
else. commercially sped gag. Ing
trouble ori..na ed when me Ahe,'@an
Tobacco Con pany. made W Ok the saa-
ing cigarette manufacturers. BEGAN tns
manufacturer OF plug tobac,o. ms ma %
some OF the old makers OF plug TOBACCO
verv angry. They proposed TO the man
ufacturers who were less excited aoo".
the matter that the plug tobacco meu
should retaliate upon the American 10
bacco Company by going into the eis-
arctic business. TINS was suen1o'o's
opposed by the more conservative Oh
the plug tobacco manufacturers, ana the
,noefing laN August, at which the matter
was discussed. was one OF the liviest thas
even the oldest OF the plug tooacoo n'ea
had ever attended. The result Oh 'ns
agitation was that the Drummond SoM-
many and the Light q Myers Sonp'n1
cigaretts anyway and they ala anu a's
doing so now. .s.s
The report went abroad after thae
Meeting that some OF the plug topacco
manufacturers were so disgusteo e"a'
they would like TO dispose OF thef
properties. This report had no iou''oa-
ton In fact. but II got TO the ears Vi
one of the best known law nrms IN thiS
city. a firm that has done the legai "orA
necessary in the formation OF sever
combines, and the ola scheme OF FORM
ing a plug tobacco combine with Engiisn
capital behind II was revived.
rhe situation was gone over quietly
TO find out II the properties couio Dc
acquired. All inquiries were mace III
the most guarded manner, ana throuBn
persons who had no connection with inc
law firm. What was learned/was con-
sicered TO be encouraging enough Ior
one of the firm TO pack of TO Euorpe
10 see what chance there was OF secur-
ing the necessary capital. II was found.
NJ first that England CAPITALISTS would
not look at American investments
through a telescope. Trey feared tha'
Brvan would b. elected. ana were tah-
ing no chances. More recently. however,
the feeling that Mckinley will be elected
has gone abroad in London. ana now,
l. is said on the authority OF one vi
the manufacturers interested In the zeal
enough money has been subscribed 10
float the enterprise.
The story comes from CINCINNATI Una.
Charles NJ. Lindley, Of that city ana
Colonel Joseph 3. Hughes. or haniton.
O.. are the men who have been intrusted
with the work OF securing tho opuohs
on the properties. Neither OF thcae MON
IS known to plug tobacco manufacturers
in this city, but II was learned yes.ei-
dov from a man connected with the law
firm mentioned-the real promoters OF
the deal-that two Western men have
teen engaged to secure options on 'he
Drummond and Light & Myers proper
ties. 1t was said yesterday mat Llggitt
4. Myers had practically named a figure
M which they would sell. but that the
Drummond Company had declined an OF
fer OF s.. 100000.
Aside from these two plants the one
that II was difficult 10 get an option on
was that Of tbs Pierre Lorillard Tobacco
Company. II was not possN 10 until re-
Gently for any one 10 acquire this prom
crty even If the owners cared to sell.
When the preferred stock or the comp my
was put on the market a few years ago.
the agreement was that the Lorilliards
should retain the common stock for az
least three years. That time has now
expired. so that should the cyrers care
10 sell there Is nothing TO prevent them.
IL was said Yesterday that an option on
the Iorilard plant had been obtained.
This was denied. however. at the factory
in Jersey City.
A sun man learr cd yesterday from one
Of the parties 10 the transaction. shouls
IL 60 through, that the whole deal hinges
on the ability OF those Interested In ac-
ouiring the properties 70 get an onnon
on the Drummond property. II Is under
stood that the representatives OF The
caritaIis,s will offer the Drummonds ~
nm ono for their plant. and not cent
more should this offer be accepted the
deal viii 70 through. II not. Enlgishmen
stand little show OF being able 10 en-
bark I'm the tobacco business In the
United States.
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