New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-01
PAPER MILLS COMBINE.
LARGEST INDUSTRIAL ENTERPRISE IN
CORPORATED IN NETWORK.
ITS CAPITAL STOCK AMOUNTS TO $4,000 900
NAMES or TIE CONCERNS THUS con-
sOLdDATED - FIVE OTHERS TO

JOIN THE COMPANY SOON.
Albany. Jan 3l-The International Paper Com
pany. Of Corinth. Saratoga County. was incor-
porated to-day with a capital stock Of H5.o)o0oc
This is the largest industrial company over moor
porated IN this State. and Is the organization OF
what has been termed the American Paper
Trust" 1t vii! be listed in the New-iork Stock
Exchange
TIE company. according TO the articles OF incor-
poration is formed 10 maintain conduct and man
age in the State OF New-York and elsewhere all
kinds OF paper business. including the manufacture
and production OF any other hbre. and. es a part
OF and incident TO such business. the mining Of
iron. pyrites. clay sulphur. coal agolite and any
hbrous minerals and materials. and tho purchase.
lease and development Of woodlands. and TO pur-
chase and hold rrerChand.s c In New-Iork and other
States OF the United States and in Canada
The capita! stock OF 100000 IS divided into
81 $1,000 OF preferred stock ana 100000 OF COM
mon stock the shares being Of par value Of 800
each The power Is reserved 10 increase the pre-
ferred stock by tie issuance OF 10000 shares OF
the par value Of 500 each. II the same shall be
required for the conversion OF the mortgage bonds
OF the company. be issued for the aggregate
sum Of S0V9.OOo The preferred stock is TO be en-
titled out Of tho profits 20 dividends not exceed
Ing per cent year. beginning on April !, 1928
PAYABLE quarterly. in preference 10 any payment
Of any dividend on the common stock. The com
mon stock. after the payment OF quarterly diVl-
dcuGs on The preferred stock. Is TO he entitled to
sucb 6iyid, ids as ma, be declared out OF the net
surplus Of The earnings Of the company. The com
paIy Is to begin bus ness with 5000 II paid a
corfora ton tax OF &6-JO
The directors and tho number Of shares OF pre-:
GoItnth, .S5 SHARES iliT l. ". Drew. Of Lancaster
X IL. - shares: David W snow, of Portland
To a. g shan W M b ~ pi Hs2-S Of EeT 70
shares. Frank T. Benner: OF Newton, Mass, -
shares. Thomas S Coolidge. Of Glens RAILS. 10
SON r Francis. OF New-York. 3 shares Edward r.
Greene. OF New-York. shares; Melville Edgar
ingalls, IT.. Of New-Yo'k, shares. ana Hall Park
McCuiloUsh. Of New-York. shares.
The comPany W Is saJ wi" b ,aki c9nr0 by
in the Niagara Falls Paper Company. Is quoted as
- 10 not think that IN the placing Of the Sc
curlties the public Will be applied TO- All The large
paper mills Of the East are in the conbination
think the consolidation viii result In any material
ceutratIon os management and the reduction OF
II j. said that the company will have as officers
n president four Vlce-presidcEts. who will be heads
Of departments a secretary and treasurer
There will b. an executive committee and a finance
committee besides p sales department and a manu-
featuring and construction department
include the following: Otis Falls Pulp Company
Liyermore Falls. Ne. $50 tons Glen ManufactIr:
"a o PIPER company Rumford Fails Me- 10
tons FSH Moun'"iT pap9r CSnpau ~ beows Fa.ls
Franklin. y. H.. - IONS. Webster Paper Company
Turner's Fails Mass. II IONS Russell Paper Com
pany. LaUrcnce, Mass 20 tons Falmouth Paper
COMPANY.
Paucr Coiurany Iiaverhi.L Mass, 20 tons. Glcns
Falls Pape. Mil Company. Glens Falls y. Y. 2I5
tons Hudson River Pu? and PAPER Company
Farmers Fails y. Y. 80 tons: Niagara Falls Pa
per Company. Niagara Falls, y. Y. i2) tons Lake
George Paper Company. Ticonderogd. y. Y. %
tons and Herlsimer Paper Company. Herkimer y
Y % tons. The aggregate capacity Is 1881 tons 4
day.
There are five other mills which viii eventually
come into the combination. Tho time IL would
have taken. for them 10 make the legal arrange
m,nts would have delayed the formation Of the
trust. and it was thought best to go ahead imme-
diatey with tho plan Of organizaton; These five
compauics are the plerccheid Falls Pulp and Paper
Company Picrceneid Falls. y. Y, 80 tons. Gould
Parer COMPANY l. ons Falls. y Y. 81 tons; On
taro PAPER Company. Watertovn. =. Y. IS tons
Remington PAPER Company. WatertOwn. y Y. 20
tons and Wlldec Company. Olcott Falls. ", 20
tons This Will increase the total tonnage to .543
tons per day.
For the first year each plant Will be operated
under lis former owners. but when the general
manager Is elected he will have power to appoint
assistants for each mill.