Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-02-18
THE RUBBER TRUST.
TREASURER FLINT BEFORE THE
LExOw COMMITTEE.
" HE CL0UDED HIS REPLIES
The Chairman Tells the Witness
The United Rubber Company's Ger
tiGcntes In Evidence-CapitaIix
tion of stocks Explained.

| tive committee investigating trusts and
| monopoles in this State resumed it's ses-
sion this morning. Charles II. Flint.
| treasurer OF the United States Rubber
| Company, again took the stand. Before
beginning Mr. Blints examination. Mr..
Lexow announced that the affairs of the
| National Wallpaper Company would be
taken up tomorrow
Mr.. Flint was asked If he had any of
the documents concerning the organiza-
| tion Of the United States Rubber Com
pany with him, and produced the certifi-
cate of the organization of the company.
Mr.. Flint then gave the capitalization of
the various companies that composed the
| United States Rubber Company. The
| Elkan Candee he said, was organized in
| 1912, with a capital Of $500 900; the Good
year Metallic Rubber Shoe Company in
1siS, capital 100000; Meyef Rubber Com
pany in 1874, capital $4,000; New Jersey
| Rubber Company in 1870, capital 10000;
| New Brunswick Rubber Company in lSi9
| capital 100000: American Rubber Com
pany in 1877, capital 100000 Boston Rub
Der Company in 1888, capital 100000; Wyo-
ming about 1856. capital 100000; Rubber
Manufacturing Selling Company in 1884,
capital 100000.
MR. LEXOW'S QUESTION.
How much stock Of the United States
| Rubber Company was issued for these
companies?" asked Senator Lexow.
I'm round numbers about s26,C00OOO," re-
piled Mr.. Flint.
| Witness said the properties had been
valued for stock Issue purposes by com
| mittee of appraisers, whose reports had
been accepted. He had no personal know
| ledge of the matter and no suspicious tnat
fictitious values had been placed on any
| OF the plants. Witness disclaimed the dls-
tinction. assigned to him by the chairman,
of being the leader that had produced the
combination.
TOO MUCH EXPLANATION.
Chairman Lexow found much fault with
Mr.. Flint's manner of testifying, charging
that he clouded his replies by too much
explanation. Witness replied that his
| experience as a witness had been limited,
and he found 1t difficult TO give direct
| replies to involved questions.
The facts were evolved by Mr.. LeXow
| questions that the rubber plants embraced
i'm the original combination and acquired
afterwards by purchase were Dald lor
i'm stock. and that no money was useu'
| Witness himself previous to the compiha-
tion had not been engaged in the manu-
facture Of rubber, and had no interest
| in that business beyond a small amount
| of stock in one company. He could not
tell without consulting records what ne
received for that small interest.
The rubber company paid the bankers
a commission of half million dollars
lin stoclO for putting it's stock on the
! market. - l.
Mr. Flint disclaimed knowledge of de-
| nf business
| the company. He could not answer MI
Texow's questions as to the closing
| dovn of various companies at dlrerent
| times or the reasons therefor, nor ABOUT
the DISCHARGE Of employees, or the IN,
crease of the prices of manufactured
| goods by the trust.
| PRICE OF LABOR.
witness was of the opinion that the
| only way the price of labor coulu pe
maintained in this country was py the
Capitalization of labor
.oTo-day." he said, American wage
oarners are enabled TO sustain rates Of
,,.a'aes nv the existence of superior or
qanizations OF manufacturers. thlhk the
| onIv vav in which the wages can be Kept
| ~ &c nv the Capitalization OF manuiac-
trre and the economy that results from
| s,,nerior organizations in connection win
labor-saving machinery. BY means OF TINS
Capitalization. the American wage-earner
can compete against cheap-labor couh-
tries like Japan and China. -
AIR Flint also stated that they hau
r,anufactured more goods than was de-
.is II not a fact that you have ad-
,arced the price Of rubber shoes from
=, o. 20 % G0 and that the price now is
2.55?" o,,o,,. tbot"
Al this iuncture a recess was taken,
NJ T.exow excusing Mr.. Flint until ~
o'clock tomorrow morning.
THE SODA SYNDICATE.
After recess the committee took up the
soda syndicate. a combination recently
formed ..,,,,.,,
The testimony of witnesses examined
ebowed that this trust has capital OF
20 ooo coo Its methods Of business and
tba reasons for it's existence are about
the same as those Of the sugar ana ruD-
ber combines The operations OF the con
cern. however. have been confined chleny
to the States of New York ana New Jer-
sey.
The Action of the Directory.
NEW YORK, February 1.-THE direc-
tors of the American Sugar Refining Com
many held a meeting this afternoon.
After the adjournment Treasurer Searles
declined TO state what action the directors
took regarding the request OF the
Lexow Committee for permission TO eX-
anime the companys books John b.
Parsons also declined to make any state
ment saving that ii would be contempt
to the committee for him to do so.