The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-08-11
roo MUCH FOR THEM.
The Moore Brothers of Chicago Lose
Their Vast Fortunes.
MILLIONS ARE INVOLVED.
Ehe Diamond Match Company and Now
York Biscuit Company Say tho
Failure viii Not IDjuro
Them at All.

CHICAGO, Aug. 4.-The speculative
deal in Diamond Match and New York
Biscuit stocks has ended. The Moore
Brothers have failed The greatest
speculative deal ever known in Chicago
has eliminated in tho failure of the
people who are behind the deal.
The speculative deal of which the
failure is the elimination is by all odds
the most important in the history of
Chicago Stock Exchange affairs. II
began carly in this year. The stock of
the Diamond Match company had boen
soeling all along at 1870 for quite time,
and there had been special activity in
tho market Just prior to the Venezue-
Ian incident the tip had gone out on in
side circles that there wero to be some
important European developments i'll
connection with Diamond Match affairs
and the buying of stock commenced by
strong people
The Venezuelan panic iItacrfcrcd with
the speculation and the stock dropped
during the general decline at that time
to 1I5.
From then the rise started, which is
the most remarkable in IT, history of
the exchange. A strong group of spec
ulators headed by James III. Moore and
William II. Moore began buying the
stock. 1t moved up with scarcely %
halt.
In time came the announcement that
the Diamond Match company had
closed contrct with the French gov
ernment under which the patents and
machines controlled by tho match com.
pany were to be sold to the French
government for royalty Of 100000 q
year.
Tho capital stock of the Diamond
Match company is $ll, 600, 900 and of
New York Biscuit $9,000,000. 1t is said
that the Moores have purchased half of
tho capital of the Diamond Match COM
pany and their purchases of New York
Biscuit stock perhaps bears as large u
proportion to the total.
Since the formation of the Diamond
Match company its success has been
phenomenal and out of 1t tho MOores
have mado fortunes for themselves and
others
o. s. Barber, president of the Dfa-
mond Mutch company, has had control
of its actual working, though tho
Moores have been recognized us the real
people behind the company. Mr. Bar
Der Ia a practical match man and no
owned large factories in Akron, O.
These factories were taken in IA part
of tho assets of the old Connecticut cor
porntion and Mr. Barber, who had been
the ruling spirit in the first corporation,
became the working head of the new.
The finances of the company, however,
have always been in the hands Of the
Moorcs.
In 1888 the Moores organized the
American Strawboard company under
tho laws of Illinois to control the man-
ufucture OK strawboard and wood pulp
The company acquired some 90 paper
mills, locateS.iu eight states, and for u
timo it practically controlled tho output
of strawboard. The American Straw
boaril company has capital of SG,0o0,-
600.
The last of the companies organized
by the Moorcs was the Now York Bis
cult company, which was incorporated
in 1890. This was rival concern to
tho American Biscuit company, and
bakeries in number of states were pur-
chased. 1t owns bakeries in nine states,
three having been purchased this year.