Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-02-19

the LeXOW Committee Yesterday.
New York, February 1S.-Charles R.
Flint, treasurer Of the United States
Rubber Company and some of his bus
mess associates were early on hand and
awaited the arrival of Chairman Lexow,
who was late, as usual, in arriving.
! The directors of the American sugar
Refining Company met yesterday alter
noon, said Mr. Parsons, and the re-
quest Cf the committee that they fur
nish agreements in regard to the pur-
3 chase Of the Philadelphia refining con-
/ Germs and certain figures regarding Ia
! Dor, and the amount of taxes paid by
/ the company in the State Of New York
was considered.
Il was authorized by the directors and
do now present the agreement in regard
to the purchase of the Philadelphia con-
Germs, and the information regarding
labor. and the taxes paid by the COM
pany."
Mr.. Parsons handed in the document
When Mr.. Flint took the stand he was
asked if he had provided the data prom
ised at yesterdays hearing to produce
to-day. He said he only had part OF II.
Concerning the purchase of the Sc
tauket plant, witness said labor there
was paid % per cent less than In the
United States Rubber Company. SEN
ator Lexow asked if this was the case,
why the trust had bought and closed the
Setauket mill.
The witness did not give direct an
swer to the question. but entered on an
explanation. showing that the United
States Rubber Company mad paid and
was now paying higher wages than was
any other concern in the rubber busl-
ness.
Witness said that the company since
its consolidation had paid only little
over one per cent. on its common stocK'
Now. does not a great deal OF your
stock represent only water, which your
directors expect some day to develop
into something which may pay diyl-
dends?'
we have our trade marks and pa
tents-they are very valuable, just as
valuable as brick and mortar
rs it not just this practice OF issuing
a large amount of stock for what is
called good will that has brought these
individual combinations into dlsre-
pute?" ..,
Mr. Flint denied that the United
States Rubber Company was IN dlsre-
"sHow do YOU explain that your stock
holders increased in five years from 3" 10
/ a. rUlY'
81 desire to say that the present exc
cptive committee of the United States
Rubber Company, hold about Nooy0VJo OIL
the stock ....,.-.
.That is to say that the original insiders
hold s1o mo- 900 and tina, S2so00oOo has been
disposed of. the capitalization being $a''-
. 10000o'
Mr.. Flint said that the amount of com
mon stock issued representing Eoou WILL
was equal to S2oooocoo.
Henry Burn. president Of the National
Wall Paper Company was then called.
The witness said that the National Wan
| Paper Company was composed OF y dill
fercnt companies.
How many companies were left out or
the combination?'
About H.
What amount Of business did the COM
bination secure:
About 65 per cent. judging by the ma
chimes we employ. We have lN> machines
as against IS of those not i'm the combina-
ton"
what was the capital stock issued?'
.oThc original issue was $l4.owo". sub
sequeutly raised to S27ooo.oOo or $2S ooo.oOo.
1t was all common stock. the witness
said and the corporation was not organ
ized I'm the State of New York.
THE consolidation brought about the
increase of labor i'm the various concerns
Mr. Burn said.
I The witness further testified that wall
kraper 1ad been reduced ten per cent and
that wages had not been reduced, but We're
more continuous since the consolidation.
ADoes the agreement you have with
the,seners or jobbers restrict them to the
salesof your product
"Y6s, sir
Mr.. Burn was excused until 10 o'clock
to-morrpw morning to- which hour an adj