The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-01
BORDEN'S BIG DEAL
FALL RIVER MAN THE MASTER OF
THE PRINT CLOTH MAR
KET,
A SENSATIONAL OPERATION.
DEAL BY WHICH HE BOUGHT UP
ALL THE AVAILABLE FALL
RIVER STOCK.
Forced His Competitors to Pay an
Advance the Day After His
Coup.

NEW YORK, Feb. 27.-John Gilmer
Speed once characterized as a Fall
River Incident" the realization of an
ambition to build, own and equip the
very finest Print cloth mill on the West
ern Hemisphere structure which
reared its head on the million Of profits
which a New York man secured by his
energies ard bold business operations
during 1894.
This same man sat at his desk in his
office a few days since, and those who
came in contact with him, had they not
known him we'll, would never have
guessed that he had just completed
most stupendous deal in the trade of
which he is the Napoleon. Yet he is
the same Matthew Chaloner Durfee
Borden who caused the Fall River In
,ident' referred to, and who a week ago
created a furore in dry goods circles
from one side Of the continent to the
other At fifty-seVen he is king of the
trade which knew him only as a COM
mission merchant up to 1889. He has
just taken out of the market of Fall
River 100000 pieces of print cloths, and
thereby sent trade conditions in that
Bpond to a point where prosperity will
no doubt take the place Of a years bad
business.
He purchased 1880, 900 yards of cloth,
which will soon make it's appearance in
the form of the calicoes and shirtings
which for years have had associated
Mr.. Bordens name with them, and
though he spent in his purchase some
thing over 100000, his profits will be
enormous, for he so deeply operated
in the market that his competitors
had to pay an eighth of a cent more
for similar goods the next day He
was after 100000 pieces, but found
only half of this number available for
immediate delivery; but to cinch TIL"
proposition he found himself in he
made contracts for 100000 pieces more
which he was disappointed not to find
in the warehouses.
Mr.. Borden's purchase represents
nearly five weeks short time produc-
ton of 100000 spindles, engaged on
the number Of coarse yarns spun on
the 100000 spindles whose work is
turned out from the looms Of the sew
enty Fall River mills that manufacture
cloth. No such gigantic deal was ever
before completed in one day in our
market. His deal has made history
In the trade. The sales reported from
LII
pieces, the greatest on record for one
week.
HIS EARLY BUSINESS LIFE.
Mr.. Borden has had a remarkable
career during the past nine years.
Manufacturing was bred into him. in
the forties, when he was a little
shaver, his father was the most prom
lIent man IN the town of Fall River
Matt Borden was the fourth son, while
his father was operating the print
works. building railroads, organizing
steamboat lines and serving in the state
legislature, between times Matt went
to Yale and graduated, the most pOpu-
lar man of the class Of 1852 Later he
entered the employ of Low, Hartman
q Co., and after his father had turned
over the print works to the elder son.
Col Thomas j. Borden, the younger
brother was the American Companv's
representative in the house Of Bliss,
Fabyan & Co.
IhlS business connection followed
the failure and reorganization Of the
American Printing company, in 1879
Still later Thomas j. and Matthew
Borden operated the American to-
sether as their father and uncle had
done in years gone by, and one day
Col Thomas Borden was surprised to
receive an offer from his brother for
his share in the concern. This was in
1883. and NJ. c. D. Borden entered upon
the ownership of the printing company
Since then he has built a plant of four
fine cotton mills, the output Of which
Is handled by his company.
Fall River mill men gave Mat"
Borden one or two tight squeezes, and
this led him to bend his energies to
erecting the factories which stand as
monuments to his ability. In Deem
Der of 1898 he came into the Fall River
a bot hon r~rl04 y
and, not having enough goods to suit
his desires, operated in the Providence
market and secured all told 700 900
pieces. This bold stroke simply as
founded the conservative manufactu-
rers Of Fall River, and they saw in
MIR. Borden factor Of whose import
ance to the trade they had not given
full credit. Mr.. Borden boosted a fall
ing market from two and seven-eighths
cents to three cents, and then the
Fail River manufacturers did some
thing which Mr.. Borden never quite
forgave. Instead of giving him the
protection which his operations seemed
the surplus and raised the price an
eighth of a cent-they sold off again
to two and fifteen-siXteenth cents, and
finally to seven-eighthS again.
But Mr. Borden got his revenge, and
in a novel way. The mill men wanted
" CuL uOWH wages III 1854 ana Inc
spring of 1885, but they couldn't do ii
successfully unless Mr.. Borden joined
the movement. The Manufacturers
association agreed to the reduction in
the schedule Of compensation, but Mr..
Borden was not, and is not now. q
member of this body, and his refusal
blocked the Whole scheme. This made
him popular with the twenty-seven
thousand operatives who would have
been affected, but he disclaimed anv
philanthropic motives. He said he
couldn't see the necessity for so doing
''for business reasons" for he regards
his operatives as consumers of his pro-
duct and the history of the trade has
ever been that cut down was always
followed by a falling off In the market
for goods.
HIS LATEST OPERATIONS.
Last July the silver agitation had a
most depressing effect on the print
cloth market and 1000, 444 spindles were
stopped from eight to thirteen weeks
but the market didn't mend and the
surplus stock didn't disappear, and the
only ray of hope that struck Fall River
mills was when in November Mr.. Bor-
den made a purchase of 800, 900 pieces
at 25-S cents, the lowest point in the
history of the trade. The stock of !,
500. 600 pieces was still in evidence and
this prevented printers from showing
very much interest in the market. FL
nally, on Jan. T. this year, it was de-
ciGed that another curtailment Of
print cloths was necessary. Mr.. Borden
is g>Jen the credit of making the now
famous agreement which is in opera
ton and which so materially assisted
him in clearing out the market. A pc
culiar provision was that all print cloth
mills in Fall River should shut down
before the agreement to run but forty
two ont of tho 6ftv- ei o-ht bOIlrc O uyaak