The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-02-01
PAPER TRUST FORMED
Sixteen Companies in it, With
S45.000.000 Capital.
NOT TO INCREASE PRICES
But to Reduce Operating Cost,
II is Claimed.
NOT TO INCREASE PRICES

Albany, n. Y, Jan 31.-The Internation-
al Paper company of Corinth, Saratoga
county, New York. a combination of all
the big firms in the country, filed articles
of incorporation today, with a capital OF
$45. 100000.
The company is formed 10 maintain,
conduct and manage, in the state OF New
York and elsewhere. the business of man
ufacturing all kinds of paper and any
other fiber, and as a part of and incident
TO such business. the mining OF iron py-
rites, clay, sulphur, coal, argoiite and
any zbrous minerals and materials, the
purchase, lease and development of wood
lands and to purchase and hold merchan-
disc in New York and other states of the
United States and Canada"
The capital stock of s45. eeo. 900 is divided
into So, O00. 900 preferred and $4,000 common
STICK.
The cmpany is to commence business
with $50 900, 900. Among other things IL -
authorized to purchase, acquire, hold ana
dispose of the stocks, bonds and other
papers of the Indebtedness of any corpor-
alton, domestic or foreign, engaged in a
business similar to its own, or which is
an any way connected with the manufac-
ture of any of its component parts, or Il
may issue it's stock or bonds in payment
of the stock, bonds and property of any
corporation which it desires TO absorb.
The directors are Ogden Mills, D. O. Mills.
William r. Dillon. Judson 7. Francis, Hall
of New York City; A. n. Burbank, Below
Falls, Vt; Thomas S. Coolidge Of Glens
Falls, Warren Curtis of Corinth. I. w.
Drew, Lancaster, n. H; F. T Bonnor
Newton. Mass; David W. Snow. Portland,
Me; Edward r. Greene, Brooklyn.
The new company, il is said, will take
control by February Is.
y. o. Mills, who is heavily interested in
the Niagara Falls Paper company. is re-
ported as having said: "All the large
paper mills of the east are in the COM
bination and some of the largest western
mills. do not think the consolidation will
result in any material change in prices.
The chief advantage will be eoncentrat ton
| of management and the reduction Of ex-
penses."
1t is said that there are now sixteen
companies in the combination. with pos
sibility of five more coming in.
The mills represented in the combine
are six in New York four in Maine. three
in Massachusetts, one in Vermont and two
in Vermont will eventually come into the
combination.
The time which would be necessary for
them to make the legal arrangements
would delay the formation Of the trust.
and it was thought best to go ahead i'm
mediately with the plan Of organization.
The five mills to be ultimately taken into
the combine will increase the capacity to
1,5i3 tons per day.
For the first year each plant will he
operated under the present owners but
WIN a general manager is elected he viii
have power to appoint his assistants for
each plant.
Frank Sherwood was down town today,
for the first time. since he had his tussle
with cholera morbus. He says he drove
thirty miles after he was taken, and never
came so near dying in his life. After this
when he goes out in the country he will
take a bottle of Chamberlain's Collie.
Cholera and Diarrhoea Remedy with him.
Missouri Valley Qowa) Times. For sale
by druggists.