The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-05
HISTORY OF THE DEAL.
$11 100000 I'm Diamond Match and
50 0QA 900 In. Risczit

CHICAGO, Aug. 4.-Willam II. and ]. II.
Moore, the members of the firm OF Will
liam H. and J. II. Moore and Purcell, made
their first move as promoters in putting on
the market the stock OF the Frazer Axle
Grease Company. While this company has
been but little known the Moores made
considerable money out Of il. The first
corporation of any moment in which they
were interested was the Diamond Match
Company. This company was originally
a Connecticut corporation and it had been
formed for the purpose of controlling the
manufacture of matches. 1t had not been
Successful. however, and at the time the
Moores took hold of ii, it was In a dis
rupted state and competition nearly had
caused its downfall The Diamond Match
Company, of illinois, formed which
took the properties of the former company.
Since the formation of this company. its
success has been phenomenal and out of it
the Moores have made fortunes for them
selves and for others.
Q. c. Barber, president 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 q practical
match man and he owned large factories
in Akron, O. These factories were taken
in part of the assets of the old Con-
necticut corporation and Barber, who had
| been the ruling spirit in the first corpora
| tion, became the working head of the new.
| The finances of the company, however,
have always been in the hands of the
Moores. Diamond match stock was not
| speculative security in the true sense of the
word during the first two years of the
company's existence. 1t went ahead MAX
| ing money and dividends were paid regular
| ly. At the time Of the organization the
| tending its business and purchasing other
| match factories and as il did so stock
| creases in the capital stock were made
| from time to time until the last one in
February: 1885. when the stock was in
present capital. The last million dollars
was used to save timber which had been
burned in the forest fires in North Mime
| sofa and this timber was cut and hauled
to water for preservation. At the time OF
the last annual meeting President Barber
estimated the value of this lumber at $780,.
900.
In 1888 the Moores organized the Ameri-
/ can Strawboard Company under the laws
| of Illinois 10 control the manufacture Of
| strawboard and wood pulp The company
acquired some twenty-five paper mills, To-
| Gated in eight States. and for time IL
| practically controlled the entire output Of
| strawboard. The American Strawboard
Company has capital stock. of 5000. .Ooo
|
not been interested TO any considerable ex-
| tent in this corporation
| The last of the companies organized by
the Moores was the New York Biscuit Conn.,
| pany. which was incorporated in 1890. This
/ was q rival concern TO the American Bis
! cult Company and bakeries in number of
| making bread and crackers actively en-
gagged in. The capital stock of this COM
pany at the present time is 50. 100000 IT
| owns bakeries in nine States. three being
| purchased this year. The principal one or
| these was the Mason bakery in Baltimore
which was acquired by the company. in
| March, The stock of this company has
been an active speculative security since its
formation.
The present campaign in Diamond Match
and New York Biscuit was organized last
! November. 1t was the intention TO begin
| the campaign in December. but the mes
| sage OF Cleveland on the Venezuelan ques-
| ton caused postponement. The movement
| really began in March. the stock selling
| around $50. The advances in this stock
were phenomenal and day seldom passed
that the record of the previous day was
| not broken. The highest quotation reached
| was on May 4. when the stock sold at 2fs.
| From this figure the quotations declined TO
same day 10 2c6 IL. The next day the
stock sold UP to 2ls l-2. and the following
day it sold above 22o
proximately A0oo,o9o worth of Diamond
| Match stock as collateral for money
leaned VIII no not % press ',d sne s for
might precipitate panic. This the banks
are bound to avoid at all hazards just now
Another thing the banks have decided to
do, and that is TO accept the stock of Dia-
mond Match owned by the Moore Broth
ers, at cash value of no. Such was the
basis of settlement agreed upon at the
meeting OF bankers held late last evening
Probably the heaviest losers IN the collapse
Of Moore Brothers. next 10 the brothers
J (Continued son second PageJ