Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1898-03-16
A BIG DEAL.
Maine Sardine Factories May be Sold
to an English Syndicate.

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syndicate deal involv ing some 90, Co.,
600 of English capital is now in progress,
with a fair chance OF being broug ht to a
successful issue.
The deal, il completed, means the con-
solidation Of all the sardine factories in
Maine. S. G. Stevens, of the BROOKLYN
Packing Co., is the leading spirit in the
movement. He has secured an option on
all he factories in the State, and is now
in New York city. He left Ellsworth last
Saturday, confident that the deal would
be closed in very short time.
There are tifty-three canning factories
in Maine, and Mr.. Stevens has an option
on every one of them at figure
amounting TO about S1,5OO0OO. The fac
tories are located at Milbridge, BROOKLYN,
PASSPORT, Lubec, Jonesport, Robbinston,
Southwest Harbor, Green's Landing,
Swans Island and Rockland Mr.
Stevens's plant in Brookin is the largest
in Maine. Mr.. Stevens has been working
on this deal for the past year, and he has
most successfully carried it out.
The output of all the factories amounts
to bout 1000 600 cases per year, and there
are now about 100 600 cases on hand The
selling of these factories to big syndi-
cate means that more business will be
done, and that the market for all goods
canned in Maine will be stronger. Mr.
Stevens factory at BROOKLYN employs dur
ing the canning season, about 200 people,
and in eleven factories in Maine there are
employed an average OF $50 people EACH
The factories are all located on he coast,
covering strip of about eighty miles.
There are only two factories west of
Brooklin, at Rockand and Boothbay
or the tifty-three factories in Maine,
the following are located in Hancock
county: AT Brooklin, Brooklin Packing
Co.; at Southwest Harbor, A. $. Farms
worth; at Green's Landing, Thurlow,
knowlton & Co., Flye Bros, Potter,
Wrightington & Co.; at Swans Island, j.
Joyce.
The new concern will be known as the
American Sardine Co. 1t will be organ
ized on the plan of the New York Bis
cult Co., form of organization which
has been pronounced by the courts of
several states not in contradict ION of
the antitrust laws.
The terms of purchase of the sardine
factories included in the deal coutem-
plate the payment of half the purchase
price in cash, aud the other half in the
stock of the proposed new company,
The several manufacturers turn over
their factories, stock on hand, machinery,
trade marks, and good Will, and receive
therefor the stipulated price, which in
each instance Is large enough so that the
amount paid in cash is estimated to be
about the auction value of the Whole
plant
II is so agreed that at least one of the
owners Of each factory shall be retained
as manager undet tie aew regime.
The fifty -three factories in Maine have
valuation of about 100000. The
total number of hands employed i, about
1000 with a yearly pay roll of about
s75O,0OO
The value of the boats employed in the
business is estimated Mt about 20 600, and
the value OF catch 1886
All manufacturers who sell to the COM
bine agree not to engage i'll the bus mess
of packing fish within 500 miles of East
port during the next twenty years.