The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-02-17
RUBBER TRUST NOW
CONTINUED from First Page.l

In reply to another question the witness
admitted that The Colchester works had
been closed.
"And five hundred men thrown out of
employment"
q don,t think So"
will 0 swear that 500 men were not
discharged"
II will swear they were not discharged.
Your question is not accurate, Mr.. Chair
man."
The witness said he did not know the
exact lumber. "a
You then bought the Goodyear Glove
Company" s... 49,.
I'VE bought the stock"
Did you not then close it DOWN."
Il don't know"
rs 1t running nova"
Il don't KNOW, - 49,.
do vol mean to say as treasurer of
the United States Rubber. Company you
don't know whether. the Goodyear Glove
Company of Nagautuck is running or
nct?"
Senator Lexow then asked the witness
if it was not a fact that the United
States Rubber Company drove the Sc
tucket Glove Company of Long Island
out of existence, but Mr.. Flint said he
did not know anything about that mat
ter.
In reply to another question the witness
said that the mortgage on the stock of
the Colchester Company was purchased
in August, 1898.
And were the works not closed dow
Immediately the U. S; Rubber Co. pur-
chased the m~ortgage?"
mo, SIR; 1 think it was a long time
after"
And these works had been running un-
i~nterruptedly up to that timer"
Il think So"
ment with the bankers that, the United
States Rubber Company should purchase
the stock of the various companies from
the bankers when the latter bought them.
1.-THE bankers had reason to expect that
the properties would be taken off their
hands,"
How do you know?"
"They anticipated the u. S. Rubber
Co. wanted to get the plant"
Are you willing to swear there was
no existing agreement either verbal or
written that the stock was not to be
purchased, by the u S. Rubber. Co. after
its transfer to bankers, at a fixed price?"
II don't know of any such agreement.
The bankers offered stock, received a GER
tain price for it from the U. s. Rubber
Co. and turned it over to the stock
holders of the various companies. It was
a regular business transaction"
The purchase Of the Colchester Rubber
Co., was I, again Ia gene 81 ,+ into. ! 4 ssateW TeI,t
Stock Exchange as to the purchase was
read by Senator elm
II think that statement is correct said
why did you offer stock of the U. S.
Rubber Co., which was good for worth
sless stock of the Colchester Co. on which
THE Colchester. stock was not con-
sidered worthless"
estate what clement of value there was
which was already closed or was to be
closed on acQu.sition?'a8
Witness replied that only an expert
could pass on that.
In reply to another question he wit
ness said he did not know whether the
bankers purchased the various properties
at the figures recommended by the APP
But you ought to know, you were the
chief promoter of the scheme?' said AS
semblyman Warner.
7 don't style myself a promoter; I was
a merchant having an interest in the rub
Der business. replied Mr.. Flint in a
sharp tone.
.sWho authorized the collection of the
stock that was afterwards appraised and
turned into the United States Rubber
Company?"
There was no authorization. The Hol-
lands received the stock from the u. S.
Rubber 60. and then settled with the
rs it not a fact that the directors of
the various companies that are active
have a place on the Board Of Directors
of the U. S. Rubber Co? "k
No, sir: it is not a fact"
What company that is active and not
closed is not represented on the Board?'
The Goodyea Betting Company is not
represented on our board"
DO you still claim that the United
States Rubber Company, whose directors
comprise the presidents Of the sub
companies, does not control the policy of
tho various sub-companies? ri
claim that the United States Rub
Der Company Is an independent organiza-
ton and that some of its directors have
no connection whatever With the subs
companies
Witness said that theP Para Rubber Com