The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1896-11-25
The Nail Trust Broken.
Expenses Exceeded the In
come and the End Came.

CHICAGO, Nov. % "A morning pa
per says: The great wire nall trus;
which has levied tribute on the people
Of the United States aud Canada siuce
June /. 1885, has collapsed aud will
endeavor to wind up its affairs Dec. l
Sale agents representing mills within
the pool were yesterday scrambling to
sell nails at S1.70 per keg in Chicago,
which is precisely 81 per keg below
the trusts circular price. aud jobbers
we're ceiling 10 lots of from one to
one thousaod kegs from stores at 81
per keg Before the end of the present
week prices will undoubtedly be dowo
to S1.25 per keg or within 80 cents Of
The lowest prices ever sold here"
The trust has thrown up both bands.
and in circular to che jobbers gives
them liberty to sell al any price they
please. Troubles have multiplied on
the trusts head very rapidly during
the last eight moosbs. Ia that time
she stream of dollars which poured into
itsscofers during the early months Of
its career had TO be used to buy up at
round prices the opposition mills which
sprang up on all sides, as we'll as to
meet a multitude Of other expenses.
Not the leas: of these was the maiote-
nance of regular force of inspectors
almost as large as the government
secret service to keep all the members
of the pool .'totiog fair
For this and kindred purposes the
trust imposed poll tax of 81 50 per
skeg on all the oails sold by its mem
bers and yebated to them the difference
after the objects bought we're accepted.
a fund Of 81, 500, 600 vas returned to
members on the showing made four
months ago, but siucee that time the
trusts officials and committees have iD-
cured liabilities of much more than
this in their desperate fight to keep the
trust going. These liabilities will have
70 be met by the individual mills con-
posing the trust, and long period OF
litigation is highly probable.
The advance of Is cents per keg Or
aered by the trust at its last March
meeting in this city vas the last scs
which marked the trusts doom. This
pus the base price of nails at Pittsburg
at $2.55, which, under the peculiar
terms Of It's nail card, meant that the
lowest figure at which any nails could
be bought there was $3.05 per keg.
This meaBt So 20 10 Chicago and made
the range of commercial nails to west
ern consumers 81 to S. per keg This
resulted in an immense curtailment of
the demand and in turn forced the trust
10 close up 80 per cent of its mills and
throw Its workmen out of employ
and reduce the output to comply with
consumers needs.
The entire sale of nails BY the trust
mills duaing July we're $4,000 kegs,
in August bus 5000 kegs. though the
output agreed upon for those months
was $4,000 aud $4,000 respectively.
The March output reached $50, 900
kegs.
). P. Parks of sos Sears building,
Bostoc. was the origioator of the pool
and was its com missioner To him was
delegated the task of holding the asso-
citation together and for this service be
collected / cent per keg on each keg of
nails sold in this country.
Besides an application for secretary's
salary and maintenance of the 'ospec-
tion bureau, the association now has on
it's hands large collection of leases OF
factories which it closed up, also numer-
ous contracts with manufacturers OF
nail-makiog machinery, who were pre-
vented from selling to the trusts com
petitors.