The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-02-18
NOV1HE RUBBER TRUST
Is Being Investigated by the
Lexow Committee.
A REMARKABLE CAPITALIZATION.
On Properties Capitalized at s5.10O,O00
There Was sec, 900, 900 Issusd-"By Cen
tralixatIbn the American Wage Earner
Can Compete Against China and Japan"

On Properties Capitalized at sS.100.0oO
There Was zee, ,00O, 900 Issusd-"By Con-
tralixatitn the American Wage Earner
Can Compete Against China and Japan"
New York, Feb 18.-The examina-
ton of Charles r. Flint, treasurer OF
the United States Rubber company,
was continued yesterday before the
Lexow COMMITTEES. He explained that
the capitalization Of the companies
consolidated by the rubber trust was.
$5.lO0,O00. Mr.. Flint was questioned as
to the part he took in the organiza-
tion of the company. but he parried
the question: which was aimed at ex-
tracing an admission that he was at
the head of the combine.
do you mean to be understood" he
was asked, "as saying that. as treas
urer of the company, you have never
made any effort to discover whether
proper price had been paid for the
properties. and for which $26,oOo,ooo
was issued?"
1.-THE newspapers were not accessible
to me. THE appraising committee
were men Of the highest standing. and
had the utmost reliance in their re-
port"
Mr.. Flint said he had been instruct
ed legally that it would be within his
province to abstain from testifying be-
fore the committee. Instead of doing
that" Mr.. Flint said, II have come
here voluntarily to testify"
Did not the New Brunswick factory
close down in the dead of winter in
1895, throwing all its employees out Of
work. when 1t was offered contract
to produce what is known as third rate
goods, which could have kept the fac
tory going all the wlnter?'
"I don't know"
Asked if the price Of goods in 1888
was raised from $50 to $3.50, witness
claimed ignorance of this matter, say
ing 1t was not his business, and add
ing that he was engaged in different
line from that of salesman.
Witness claimed that the United
States Rubber company Is an indepen-
dent organization, whose governing
board is not drawn from sub-com-
parlies, and has no connection with
them, Witness said that the Para
Rubber COMPANY, in its competition
with the other companies, lost $750,OOo.
The failure of number Of rubber con-
Germs was due to the fact that they
made counterfeit goods, which failed
to bring the required price.
He continued: THE American wage
Garner is enabled to sustain his rate of
wages by the existence of superior
organizations of manufacturers. BY
means of Capitalization the American
wage Garner can compete against cheap
labor countries like China and Japan"
Asked how it was that the United
States Rubber company almost doubled
the price of rubber shoes since 1893,
witness said he was unable to explain
and claimed that the company he rep
resented turned out the best shoe in
the country today.
William /. Walker, a treasurer of the
soda syndicate, which was incorpor-
ated July L. 1896, with capital stock
of 81 900 000, was next examined. He
said there were only six stockholders
in the concern all of whom were Off
GERS, and admitted that the jobber
| who sold below stated price would
be deprived of his rebate. Charles e.
Pope of a New York firm, said this
arrangement had cansid derahlx affects
| nd his bIisinpSs