Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1896-07-11
LINsEEO OIL COMBINATION
Efforts Made to Increase the
Prices Of Products.
Meetings Held az Niagara Falls by
All the Large Manufacturers
From tho East ard West
ITO Govern Sales.

New York. July 3.-Eforts to estabJ
lish harmony of action among the lin
seed oil manufacturers in this country,
have recently assumed much signif-
cance The condition of the linseed Oil
market has been unfavorable to profit
making for several months, sharp COM
petition having sent the price down to
a point that scarcely covers the price
OF production. Various conferences
have been held In this city and else
where within the last few weeks, for
the purpose Of forming a combination
to restore the price OF linseed oil to q
paying basis and to keep 1t there.
Nothing Of a defnit character has
been accomplished thus far. Nearly all
Of the manufacturers and dealers agree
as to the desirability of raising the price
Of the oil above its present figure OF 81.
cents O gallon. but the interests in
volved are so diversified that but little
actual progress In the way Of organiza-
ton has been made. There were two or
three largely attended meetings at the
International hotel. Niagara Falls, last
week, at which numerous suggestions
were discussed for the formation OF q
mutually protective league, such as
"pubh NV Npuia Hot CldSH Win Nv dnii-
trust Law Representatives OF all tho
leading linseed oil dealers, both cast n
west, attended these meetings.
The National Linseed Oil company,
which Is sometimes spoken OF as tho
trust" was represented by Its president.
Alexander Euston. This company on
trolls thlrty-seven mills, nearly all OF
which are In the west. Besides the Ma
tionel company. there are twenty
seven independent mills represented, in
Guiding some Of the largest concerns In
the east. These were the NationalLead
company, the Dean Linseed oil COM
pany. and the Campbell & Thayer. all
OF this city. Arthur Dean and Arnold
Tkayer OF the two last named concerns
attended the Niagara Falls meetings
on behalf of the New York city manu-
facturers. or "crushers,' between whom
n the western mills there has long
existed a bitter a~ntagon!sm. arising, 1t
Is said. from the inroads which the lat
ter succeeded in making on the busi-
ness OF the local establishments. This
warfare reached a climax May rs. when
the New York manufacturers made n
cut OF 3 cents a gallon in the price OF oil,
with the view of driving their foes from
the field. But these tactics proved un-
availlng, as their competitors promptly
met the cut by a like reduction. This
proved to be a losing game. however.
and soon overturcs came from BOTH
sides for a truce, resulting In the meet
ings mentioned.
One OF the propositions submitted was
10 form a great combination, embracing
the entire linseed oil tradei in this coun-
49,, oanl Nna 80 TIC tnapnhara IN hn
pledged to obey its regulations relative
to prices. and the governing power TO be
vested in an executive board. 1t Is as
serted that one OF the features of the
proposed agreement Is that each manu-
facturer subscribing to IL must make a
cash deposit of from 800 to $500. to be-
forfeited should ne cell below the stip-
ulated pool price. one Of the first things
that the proposed combination would do
would be to advance the price Of linseed
oil at least 5 cents a gallon.
The annual consumption OF linseed oil
I'm the United States Is about 35.000.0 900
gallons. The present wholesale price il
81 cents per gallon. against 3s cents one
YfeE,aaas th&IGaxasiins lew nsnres be
the oil Is made.
The Messrs. Dean Of tho Dean Linseed
Oil company. at Front and John streets.
in his city, said that. so far as they
knew, nothing of a practical character
was accomplished at Niagara Falls.
There was a great deal OF talk. but h a
was all. Arthur Dean attended the
meetings, but he was not very sanguine
over the prospect. He said the price OF
linseed oil was now too low, and he
hoped that some lawful mean would
be found to secure concerted action on
the part Of linseed oil dealers. so that
all might make a fair profit.