New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-18
MR.. LEXOw. GETS ANGRY
THE LONG EXPLANATIONS OF {. H.
FLINT IRRITATE HIM.

LITTLE PERTINENT INFORMATION EXTRACTED
ABOUT THE RUBBER TRUST But THE WIT
NESS p1scouRsEs on THE BENEFITS OF
coMBrNAT IoNs-THE SODA TRUST
INQUIRY BEGUN.
The legislative Committee that is probing ih'o
the mysteries and workings of trusts comp'e'e"
the seventh day of its labors yesterday IL can
no, he said however that its Investigations yes
terday added much TO the knowledge IL hao al
ready acquired in the course OF the previous
sittings The whole of the morning session WAS
given over to the continued examination OF .ne
Rubber Trust. which was represented by Charies
r Flint. The committee had discovered on the
nrccedinC day that Mr. Flint was no more sats-
factory a witness than Mr.. Seares Both nave
the faculty on the witness stand OF saying ihuoh
but revealing little only the characteristic Is
perhaps in a higher state OF development III MI
Flint With his long explanations. his continu-
Gus qualifications of almost every answer lie
gave Yesterday. and his neatly turned evasions
10 other questions Mr.. Flint more than once
worked the usually polite Senator from Nyack
into n high state of irritation. Although the
treasurer and by many thought to be the real
head Of the trust, it surprising what niue
Mr. Flint knew Of the affairs or the company
in which he holds so high an official place
The committee was in possession Of informa-
ton showing that the price or ruoper SHOES
and clothing had been greatly increased since
the formation of the trust; that the latter had
bought factories for which 1t had no use ana
closed them down. and that 1t had thrown nun
dreds OF out of employment; out VINE"
the committee sought to confirm these facts
lll 70 n
fore he left the stand the members of the COM
mittee invited his opinion upon the advantages
OF trusts. and in pursuance of their previous
policy gave him the opportunity OF delivering
a. long homily upon the advantages and bene-
fits that trusts confer upon the consumers OF
their products and their employees
In the afternoon the Soda Trust was investi-
gated and ii was demonstrated that the Church
& Dwight Company had practically monop-
oily Of the saleratus trade In this State through
agreements with nine-tenths Of the wholesale
grocers Of the State. who had become its factors,
the company, IL was shown, had fixed the price
OF the commodity to the retail trade at oi2 cents
per pound. when. according TO the evidence OF
Charles f. Pope. Of the firm Of j. Monroe Taylor,
1t could proftably be sold for four cents pound.
AFTER THE DETAILS OF THE TRANSFERS
THE SIMMONS COMMITTEE REPORT SAID ~ Bf1
IN NEUTRALITY-SUSPICIOUS. bN THE
SODA BUSINESS.
Charles r. Flint was recalled TO the stand when
the committee resumed its investigations yesterday
morning into the affairs of the Rubber Trust Be
fore the adjournment the previous day he had
promised Senator Lexow to produce the certificate
Of the organization of the United States Rubber
Company. and 10 be prepared also with data, TO
furnish the committee the date and place Of the
oF he COnpanies comprised
IN the Rubber Trust. and also the amounts of their
respective original cap!tazations. He read out
these details as follow:
Candee Company. NewHaven, 1872, $4,000
Goodyear Metallic Rubber Shoe Company Nauea-
tuck. 1913, Sl1o0O)
Meyer Rubber Company New-Brunswick, ~ j.,
1874 $4,000.
New-Jersey Rubber Shoe Company. NewBruns-
wick y. J.. 1871 10000
New Brunswick Rubber Company, NeW-Bruns-
wick y. j. 1si9. 100000.
American Rubber Company. Cambridgeport,
Mass. 1871, sl,0oo00.
Boston Rubber Company, Boston and Chelsea,
1855 $4,000.
Lycoming Rubber Company information not OBJ
tained). organized in Pennsylvania about ten years
ago. capital about $4,000.
Rubber Manufacturers Selling Company, Con-
necticut, 1851. $4,000. one thousand five hundred
ana odd shares of this stock included in the Sim
mons committee recommendation.
Now for the acquisition of al! these companies.
how much capital stock Of the United States Rub
Der Trust was issued?" inquired Senator Lexow.
'In round figures. s26 100000" replied Mr.. Flint.
How much of the stock was issued for the pur-
chase Of the Boston Rubber Company
3. There was no subdivision of the stock. The ap-
5raisers recommended lump sum for the pur-
chase Of all these properties.
But in realizing the amount Of the capital
stock there must have been some apprasement OF
the distinctive value of each company. Can you not
inform the committee what was the appraisement
on the Boston company
II cannot: that appraisement was made by the
Simmons committee. l have never had access to
that information The data are not in the posses
sion of the United States Rubber Company.
DO you mean say that you. treasurer Of the
company have no means Of telling how much stock
was issued 10 each of these companies"
II do. / was not then the treasurer Of the COM
pany, and was not even member OF the boaro OF
Directors
How were these shares d.stributed7 Did the
companies syndicate TO receive them in lump
sum-
There was syndicate but banking house
was in a position offer to the United States
Rubber Company all the properties referred in
q lump The companys stock for the purchase Of
these properties was handed TO the bankers and
by them paid over to the sub-companies"
Now. were you not the leader that produced
this combination?
II would not like to claim that distinction. Mr..
Chairman.
But putting aside all modesty. 1t not
through your instrume ntality the United States
Rubber Company was organized?
IT was active in organizing the company"
Were you not in touch with the counsel who
drew up the rules Of the organization?"
Eyes sir
"Were the conferences that led UP to the organ-
sation not held in your Office"
mo sir; they were not. They were held IN the
offices Of Davies. Stone & Auerbach.
HE KEPT HIMSELF INFORMED.
Mr.. Flint admitted that he had kept himself in
formed in "a general way" as to what going
on and anticipated becoming an officer of the
poration,
'Was the capital stock issued in payment Of