The evening tribune. (Pawtucket, R.I.) 189?-190?, 1897-02-26
BORDEN'S BIG DEAL.
,THE NEW KING OF THE PRINT CLOTH
MARKET.


Sensational Operation by which He Has
Msde Enormous Profits - Forced His
Compctitors To Pay nm Advance the Day
!, After His Coup-His Remarkable Career.
| John Gilmer Speed once characterized
rs "a Fall River Incident" the realiza-
tion Of an ambition to build, own and
equip the very finest print cloth mill on
the western hemisphere-a structure
which reared its head on the million of
profits which New York man secured
by his energies and bold business opera
tions during 1894.
This same man sat at his desk in his
Office few days since, and those who
came in contact with him, Ind they not
known him we'll, would never have
guessed that he had just completed
most stupenduus deal in the trade OF
which he is the Napoleon. Yet he is the
same Matthew Chaloner Durfee Borden
who caused the Fall River Incident"
referred to and who a week ago created
a furore in dry goods circles from one
side Of the continent to the other. AT
81 he is king of the trade which knew
him only as commission merchant up
to 1880. He has just taken cut Of the
market Of Fall River 750, ,0O pieces OF
uint cloths and thereby sent trade con-
ditions in that bustling city from the
slough Of despond to point where pros.
perity will no doubt take the place Of q
years bad business.
! He purchased 81, 100000 ysrds Of
cloth, which will soon make its appear.
ance in the form of the calicoes and
xhirtings which for years have had as
sociated MIR. Borden's name withsthem,
and, though he spent in his purchase
something over 5000, 900, his profits will
be enormous, for he SO deeply operated
in the market that his competitors had
to pay an eighth Of cent more for sim
liar goods the next day. He'was after
l., 200, 900 pieces, but found only haH OF
this number available for immediate
delivery, but to clinch the position he
found himself in he made contracts foI
$50, 900 pieces more, which he was dis
appointed not to find in the warehouses
Mr.. BNden's purchase represents
Aearly five weeks short time production
nf ., 800, 600 spindles, engaged on the
numbers of coarse yarns spun on the
2, 500, 600 spindles whose work is turned
out from the looms of the 20 Fall River
mills that manufacture cloth. No such
gigantic deal was ever before completed
in one day in our market. His deal has
made history in the trade. The sales re.
ported from the Fall River market were
/, 108. 600 pieces. the greatest ON record
for ono week.
Mr.. Borden has had remarkable ca.
reer during the past nine years. Manu-.
facturing was bred into him. In the
furtiea, when he was q little shaver, his
father was the most prominent man in
the town of Fall River. Matt Borden
was the fourth son, and, while his fa-
ther was operating the print works,
building railroads. organizing steam.
boat lines and serving in the state legis
laturc, between times Matt went to Yale
and graduated, the most popular man
of the class of 1862. Later he entered
the employ of Low, Hartman & CO..
and, after his father had turned over the
print works to the elder son, Colonel
Thomas J. Borden, the younger brother
was the American company's represent
ative in the house Of Bliss, Fabyan & Co.
This business connection followed the
failure and reorganization Of the Amer
lean Printing company, in 1879. Still
later Thomas j. and Matthew Borden
operated the American together, as theiI
father and uncle had done in years gone
by, and one day Colonel Thomas Border
was surprised to receive an offer from
his brother for his share in the concern
This was in 1888, and M. @. ID. Borden
entered upon the ownership Of the print.
ing company. Since then he has built 0
plant Of four fine cotton mills the out
put of which is handled by his company.
Fall River mill men gave Matt Border
one or two tight squeezes. and this lee
him to bend his energies to erecting tn,
factories which stand as monuments tt
his ability. In December Of 1898 h,
came into the Fall River market bought
everything in sight, and, not having
enough goods to suit his desires, operated
in the Providence market and secured, al
told, 700, 900 pieces. This bold stroke
simply astounded the conservative man.
ufacturers of Fall River, and they saw
in Mr.. Borden factor to whose impor
tance to the trade they had not giveI
full credit Mr.. Borden boosted falling
market from 21s cents to 3 cents, anc
then the Fall River manufacturers die
something which Mr.. Borden never
quite forgave. Instead of giving hin
the protection which his operations
seemed to warrant-for he had cleaned
cut the surplus and raised the price III
eighth OF a cent-they sold off again tt
y lb-l6 cents and finally to seven-eighthi
again.
But Mr.. Borden got his revenge, ant
in a novel way. The mill men wanteC
to cut down wages In 1894 and tn,
spring of 1895. but they couldn't do i,
successfully unless Mr.. Borden joinee
the movement The Manufacturers as
sociation agreed to the reduction i'm tn,
iscbpdule ~ cotppapsat,on bc. NGu n.