New-York tribune., 1897-08-05
MALTSTERS PROPOSE TO COMBINE.
LEADING FIRMS MEET AND EFFECT A
TEMPORARY ORGANIZATION FOR
4 RI1; TRI"ST

Despite the outcry against trusts and combina-
tions Of capital these 10 be days OF centraza
tion, and the latest proposed trust promises TO
become a rival in scope and size OF the largest
trusts now In existence. The new combination Is OF
the naltstcrs and it is hnted that the great Sugar
Trust Is materially Interested In effectng the pro-
posed combnition OF capital Seymour Scott, Of
LYONS Y is looked upon the active pro-
moter OF the proposed trust. lie represents inc
Scott Mailing Company. and 1t Is said that largely
through his efforts a meeting was held at the Man
haitian Hotel on Tuesday, at which the preliminary
steps were discussed.
The following firms aggregating s25. 10000 In cap
ital were represented the meeting: The Mil
waukee Malt and Grain Company, the kraus-
Merkel Mailing Company. the fansel hop anu
Malt Company and William Gerlach Co, OF
Milwaukee: the William Muchheit Mailing Com
many of Watertown Wis; the William Rahr Sons
Corpanv and the NJ II. Petit Mailing Company.
also OF Wisconsin; the W. II. Purcell Company
Rice G. Bullcn the Brand Bullen Gund Company,
Hales e. Curtis. John Garden jr.. the carmen Malt
Ing Company. l.. j. Aaron & Co. ana schwlH
Co OF Chicago: J. Weyl e Co.. of Pttsburg Jacob
Waschler of Erie Penn: the Curtis Estate. OF
Buffalo: the c. NJ Warner Mailing Company, OF
Syracuse. and the Sohngen Mailing company OF
Hamilton Ohio. Charles A. Stadler one OF the
largest maltsters In this city, is said TO be inter
ested In the proposed plan.
The firms mentioned control about 50 per cent
OF the malt output OF the United States, which ag-
gregates 3OcN0o bushels. One Of those interested
said yesterday: The first plan will be 70 control
the market so that there will be no marked ana
ruinous huctuation. AS the trade now stands there
IRE a large number OF smaller maltsters who are
practically IN the hands OF the banks. When dun
times come usually In the summer months. the
banks call on them for money and they are forced
10 sell at any prico and the result Is that the
market Is upset and the whole trade Is affected
Moreover a corbirat. on such ~ is proposed VIII
cause a reduction Of from seven to ten cents a
bushel. The brewers viii thereby be benehted:
and through therl the puric This fall in price VIII
bc caused by the fact that, all being under one
ma ma cement a great saving can be made on coal;
the necessary equipment for manufacture and
freight rates "
The first meeting Is reported as satisfactory In
every way. All firms invited 10 combine gave de.
tailed statement OF their output and the value OF
their real estate. A committee was appointed 10
investigate the holdings OF the various firms. and
Will begin work az The next meeting is sub
jcct 10 The call Of the chairman upon the receipt
Of q report from this committee. Mr.. Merkcl VINO
! deeply Interested. that fully ~ per cent OF
The stock will bs taken by the matsters themselves.
which will demonstrate their confidence In the
soundness OF the organization. II Ia proposed 10
have a working capital Of S.J01n. and to Issue
both common and preferred stock to be vouched for
by the United states Guarantee Company. The
preferred stock is TO have guarantee or per cent
and the common is expected 10 pay from TO A.:
per cent The banks which have undertaken 10
float the scheme will also, so Is announced, have
thorough accountants investigate each plant. and
tho scheme will be worked ont carefully and placed
upon "a safe and sound hasis