The times. [volume] (Richmond, Va.) 1890-1903, 1897-02-18
INVESTIGATING RUBBER.
TREASURE FLINT BIFORE mr.
LEGISLATIyE COMMIITEE.
Chairman Icxow Finds Fault with His
Manner of Iesiifying and Mr.. Flint
Replies in Kind.

NEW YORK, Feb. 1.-THE Legislative
committee investigating combinations and
monopolios in this State resumed its ses-
sion this morning aries X. Flint,
treasurer OF the United States Rubber
Company again took the stand. Before
beginning Mr.. Flints examination Mr..
Lexow announced that the affairs of the
National Wall Paper Company would be
taken up tomorrow.
Mr.. Flint was asked If he had any Of the
documents concerning the organization
of the United States Rubber Company
with him. and produced the certificate
OF the organization of the company.
THE COMBINATION.
Mr. Flint then gave the capitalization
of the various companies that composed
the United States Rubber Company. me
Elkan Candec. ne said. was organized m
1872 with a capital Of 100000 the Good
year Metallic Rubber Shoe Company m
1872 CAPITAL 100000: Meyer Rubber Com
panv in 1874. capital S20o.O00; New Jersey
Rubber Company in 1870. capital S-VV'""'
New Brunswick Rubber Company I'm 1919.
capital ,2o0O. American Rubber Com
panv I'm 1871. capital 81 10000; Boston Rub
her Company i'm ISIS. capital 10000. Wy
oming about 1856 capital 100000; Rubber
Manufacturing Selling Company In lEl'
capital 100000
How much stock OF the United States
Rubber Company was issued for these
companies?" asked senator LcXow
In round numbers, about $2b,@oe>
replied Mr.. Flint.
Witness said the properties had heen
valued for stock issue purposes by
committee Of appraisers. whose reports
had been accepted. He had no personal
knowledge of the mater. and no sus-
picions that fictitious values had been
placed on any Of the plants. Witness
disclaimod the distinction assigned 10 INN
by the chairman Of being the leader that
had produced the combination.
Chairman Lexow found much fault
with Mr.. Flints manner Of testiiying'
charging that he cloudcd his replies by
too much explanation. Witness replied
that his experience "a a witness had been
limited and he found It difficult 10 give
direct replies TO involved questions.
WHAT WAS LEARNED.
The facts were evolved 10y Mr.. Loyow $
questions. that the rubber plants om-
braced in the original combination, ana
acquired afterwards by purchase. were
paid for I'm stock and that no money
was used. Witness himself previous 10
the combination. had not been engaged
i'm the manufacture Of rubber. and had
mo- interest I'm that business beyond a
small amount Of stock In one company.
He could not tell without consulting re-
cords what he received for that small in-
terest
The Rubber Company paid the bankers
p commission OF half "a million dollars
Gin stock for putting its stock ON the
market.
Mr.. Flint disclaimod knowledge or de-
tails Of the working Of the business or the
company. He could not answer Mr..
Loxow's questions as 20 the closing down
of various companies al different times,
or the reasons therefor nor about the
| discharge OF employees or the Increase OF
the prices Of Manufactured goods by the
trust.
witness was OF the opinion that the
only way the price Of labor could be
! maintained in this country was by the
Capitalization Of labor
To-day" he slid American wage
| oarnors are enabled TO- sustain rates ol
| wages by the existence of superior or
| ganizatiOns OF manufacturers.
81 think the only WY I'm which the
| wages can be- kept mp IS by the centralza'
| ton Of manufacture and the economy
! that results from superior organizations
| I'm connection with lahor-saving mchinery
| Bv means Of this Capitalization. the
| American w1ge-earner can compete
against cheap labor countries Ike Japan
| and china"
Mr.. Flint also stated that they had
manufactured more goods than was de-
| manded
"Is il not fact that you have adj
vanced the price OF rubber shoes from
$3.50 10 $3.50, and that the price no"
Is 81 55?'
81 don't know anything about that
At this juncture % recess was taken
Mr. Lexow excus.ng Mr.. Flint until ID
o'clock tomorrow morning.
SODA SYNDICATE.
After recess the committee took mp Tho
Soda Syndicate. 10 combination recently
! formed
The testimony Of witnesses examined
showed that this combination has capt
| tai OF two million dollars. ITS methods
OF business and the reasons for its exist
| ence are about the same as those of The
sugar and rubber combines. The opera
! tlons Of the concern. however have beer
confined chiefly 10 the States OF New
York and New Jersey.