New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-05
COMMENT on THE FAILURE
LITTLE EFFECT OF THE TROUBLE ON
NETWORK INTERESTS

THE BUSINESS OF TIE DIAMOND MATCH AND
NETWORK BISCUIT COMPANIES ALLEGED TO
BE NEUTRALITY-SUSPICIOUS. GOULDs WAR
ON THE FORMER CORPORATION.
The effect In this city of the failure Of the Moore
Brothers and the closing in consequence OF the chi
cage Stock Exchange was not great, and further-
more was only temporary. There was slump IN
prices on the opening Of the New-York Stock Ex-
change, The declines for the stocks on the active
lis: ranged from TO 3f per cent. The STOCK that
suffered most Burlington and quincy. Inc
others that were most conspicuous for their weak
ness were the so-caled Granger and Southwestern
railroad stocks and the industrial shares
As soon as II became known that New-York finan-
cial interests were not concerned In the Moore
Brothers affairs there was general Improvement
I'm prices The stocks OF the Diamond Match Com
many and the New-York Biscuit Company are not
dealt In on the New-York Exchange.
The Moore Brothers had sought no accommoua-
ton IN -he way OF loans from the banks or other
lenders of money in New-York Furthermore pracu-
cally no paper of the Diamond Match Company anu
the New-York Biscuit Company Is held mere. Inc
paper Of the Moore Brothers and the two corpora
tions il reported to be held principally in PROVIDENCE
BOSTON and other England cities James a.
poradto, note broker at No 20 Wall-st.. used TO
seu tho paper OF both companies. but he has not
done so for a long time.
Judge w. II. Moore was In New-for on Moiuas'
at the Office Of H. l.. Horton & Co. stockproKers.
No &C Broadway. representative of that firm SAID
that Judge Moore was perfectly calm and gave no
sign Of the impending failure. The speaker did MOI
Lnov q, the failure until his arrival at his Office
Yesterday morning He said there was no truth IN
the report that Horton Co. had organized d poor
in Diamond Match and New-York biscuit company
stocks Both companies. he declared were oo''s a
profitable business. 1t was absurd 10 say ne aN.
nv the competition Of the Continental Ma'o' |o
Many, The embarrassment Of the Moorcs' II was
thought, would prove only temporary
THE MATCH COMPANIES RIVALRY.
Tho eont which the Continental Match Compan!
bos been carving on against the Diamond Ma'ch
Company Is reported TO have interfereo too" u
with the plans of the Moores Edwin Gouid son
Of the late Jay Gould. is the president ana ina'cih
hacker MS is generally known, Of the CONTINENTAL
Cornpany and he has fought the Moorcs' VINO o'
san,zed and directed the affairs of the Diamond
Company The Moores relied on the sale OF their
patented matchmaking machinery IN f"ioi'''''
countries where the match industry Is ca'iieu vi
nv the Governments TO advance ana ii'ne " mar
FOR Diamond Match stock. AS the creators ana
,oruos, bo,ders Of the stock they wanted TO make
solcs Of IT. Edwin Gould appeared as competitor
for the European contracts and apparently coh-
neteIy upset their calculations In mat d'rec'oh'
The Continental Company has a matchmaking
GOOD as the Diamond machine. In placing machines
IN I,,rone the profit would not be on the machines
themselves but In the royalty collected on theih'
Mr. Gould has the money TO conduct the heh. III
definitely and 1t is believed that sooner or ia'el
tbsre win he a consolidation Of the Diamond ana
Continental companies which, pecuniarily, woulu
doubtless be an advantageous thing Tor both' IL
wound create an almost complete monopoly In the
parlor- match trade.
Edwin Gould said yesterday: In my opinion 'he
Moore failure will be n severe blow to the DIAMOND
Match Company as Judge Moore was the principal
hacker of the stock on the Chicago market, anu
although stock prices do not always reflect condi-
tons yet the very high price at which ne Kept MS
Diamond Match stock undoubtedly gave great pres
tige to the company in business way IL If ohiy
another case Of where the public has been misied
in the value Of stock account OF the high point
TO which speculation has carried 1t. / sI mpathZe
with Judge Moore in his misfortune and also with
the stockholders Of the Diamond Match Company.
| A business associate of Edwin Gould said When
young Gould started In the match business the
| Diamond Match Company made fun OF MIN and re-
sorted to every conceivable method to annoy and
harass him and make his attempt at manufacturing
matches a failure. This aroused his lighting abli-
| ties He remarked to me that he did not propose
! TO be run out Of business. and would hght 10 the
! last ditch He therefore buckled down TO work
and mastered all the details Of tho business. lie
4 has taken from the Diamond Match Company many
of It's best customers and he has prevented 1t from
obtaining the much coveted French contract. He
/ left no stone unturned to make the Continental
Match Company q success. While II is true that
he has the power OF the Gould name and influence
back Of him. his success In this transaction marka
him as O Of unusual ability.
AFFAIRS OF THE BISCUIT COMPANY.
The following statement was made by an officer
of the New-York Biscuit Company:
The failure of Moore Bros. In Chicago will in no
way affect the business Of the company our concern
II Mo Moore Carried more stocks than he was able TO
! ha ndle and the crash came. We had no knowledge
o Of Ire at n The failure Of the Chicago concern has
/ nothing more do with our business than the failure
OF any since h Company has been
Always earned from TO 10 per cent annually on the
IN rbe last Ave quarters 10 July because the
money was used in the construction Of two new
buildings which represent to-day between $3.OoOVV
and 100000 We declared dividend for the
last at the rate Of per Ge and we 90
sets.
William H. Moore was in the city when the failure
of the firm was announced yesterday morning. but
started for chSaso eary in the s Is
Moore. and Is counted among the shrewdcst OF
operators in the stock market He has been president
he was at the office of the company In the large build
At and MSes hS Se Is Rs 5n.
city he usually stays a, hs Mosnd m0nss Of the
s oEe s and his time be-
tween the Offices at No 90 Elizabehst and the Of
fees at Ten:h-ave. and Fifteenth-st. When he was
seen Yesterday afternoon the latter Offices by d
Tribune reporter he said:
The failure of Moore Bros. Will not affect this
company although Judge Moore has been the presi-
dent OF the company for several years and The Moores
owned large blocks of ;he companys stock. There
are several hundred stockholders. and the stock is
distributed widely The failure is the individual fat
Of the company. The affairs Of the company are
prosperous and should continue 10 remain prosper
There is reason why the failure OF Moore
Bros. should cause any Of the stockholders In the
company wish TO part with their stock, although
the failure Of the Chicago firm will have the effect
10 lower the price OF the stock FOR time AS the
go on transactng business just as II there had been
no failure by the who organized g. the decline
in the price Of the stock should lie for long The