New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-19
PLANS OF THE PROPOSED WIRE IRtH!'

TT 10 HOPED TO SECURE TIE ENORMOUS FoREIG%
TRADE BY LEssENING COST OF PRODUCTION.
Chicago. Dec. ls-Wlth the view OF largely in
creasing the export trade in wire. wire nails ana
other products and also OF materially REDUCING 'he
cost of their manufacture and sale, certain men
who for many years have been idehNheo Win dhu
su,cesstul in the business. have. after careful
study Of the situation. decided 20 organize ne"
corporation which will Immediately engage In these
lines and will also acquire oy purchase the prop
critics Of the leading mannfaC OF wire through
out the United States.
The new corporation has not vet oeen orSan'%eu
hut steps will soon be taken for that purpose Inc
amount Of Its capital stock will be sufic.e't 10
pay for the properties 10 be acquired ana aiso -
furnish ample funds for doing the business After
negotiations covering the period OF many Hon'ns'
agreements have been made with the owners oil the
largest and most prominent plants FOR Inc pur-
chase OF their properties including tho lards build
ings ma chnery and patents. at prices whch are
considered reas onabe but winch are subject 10 eN
animation and verication by expert mcchahi'al
engineers and accountants. Three or the most coH-
petent engineers have been selected. ana are no"
examining the different plants; and one o' the
largest and best-knowH houses OF expert account
ants in Europe and America is now examining 'he
hooks and auditing the accounts OF the different
companies for the purpose or accurately ue'ei-
mining their earning capacity Inc prices u W.
paid by the new company will largely depend upon
he these
will fully Justify the prices which have ALREADY oeeh
named As soon as the reports have been maze
and the prices fixed and the titles examined. the
purchases will be closed and business commenced
by the new company.
A large part OF the capital stock OF the new com
oany will he subscribed by those who are now ac-
,ivey engaged in the business and VINO VIII De
nersonally connected with the management. AT
raneenoents will De made with J. P. Morgan q 90
n underwrte the balance so that under all con-
t,ngencies the necessary cash capital shaii De
forthcoming When the capital stock ia all SUD-
scribed the stockholders Will meet and eject a
BOARD OF Directors. and the latter VIII oesiena.e
a president and other officers. 1t is intended 10
seact officers generally who have had the greatest
exnerience and have produced the best results III
The manufacture Of wire. and who VIII retain large
interests. 90, .... u..o ara do
sirols OF selling their plants TO the new corhpah!
and n Is probable they will be purchased oHersu
AZ fair prices 1t IL not proposed TO antagohlzc the
interests o. any other manufacturers IN any re-
snec nor TO Increase the manufacture or steer Dl-
let's; nor is the intention TO Increase prices 70 's
consumer The company VIII be managed on
an economical basis. and IL Is expected ina, lhg
large Increase IN manufacture and trade VIII
cheapen production and result in fair profits. ihei
~ M dour that the United States can oDtaif,
and hold the enormous foreign TRACE now enjoy u
Inv some OF the foreign countries Dut tiiS cai w
done only by manufacturing In unison. ana on
such \ large scale as will reduce the COST OF pro-
ductiOn.