New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-25
DENIED BY CHARLES r. CRAMP.
THE REPORT OF A UNION OF THE CRAMPS
WITH AN ENGLISH sHIPBUILDIN0 FIRM.

THE REPORT OF A UNION OF THE CRAMPS
WITH AN ENGLISH sHIPBUILDINo FIRM.
Philadelphia May "a Carbohydrates n.
Cramp. president OF the Cramp Shipbuilding
Company when seen at his home this evening
in regard to the rumor Of deal whereby his
company had formed alliance with Viokers
Sons & Maxim. Of Bsrrow-in- Furness. England,
positively denied the rumor He said that there
was not a particle OF truth in the report
The rumor was that the Cramps capital stock
would be increased from 100000 to S1O.0O0.0O0
or more. the increased stock to he issued to the
vickers firm. Mr.. Cramp refused to talk upon
the subject. more than 10 say that the whole
matter was false. He remarked. however. that
the sale OF shipyards not an uncommon
thing But whether or not that can be taken
to mean that there is more truth in the report
than Mr.. Cramp wants TO admit II is hard to
say. Mr.. Cramp said he could not imagine how
the rumor originated. AS IL was absolutely un.
true in every particular.
Reports were current IN this city yesterday to
the effect that the great corporation known ss
Cramp 4 Sons Ship and Engine Building Com
pany before long TO have its capacity largely
increased and its resources doubled by an eliance
with the big shpbuildng concern OF Vickers Sons
4 Maxim Of Barrow-in- Furness England The
negotiations between the Cramp company and the
English Arm It said. had been conducted by
William NJ. WINS, the lawyer, VINO Is Que TO mr.
rive in this city to-day from England on the Teu-
tonic and Il was further reported that meeting
OF the Cramp company's directors would be held
in Philadelphia tomorrow consider and take ac-
ton upon the details OF the project The general
scheme II was added. had been before the direc-
tors for several months. the first proposition hav-
ing come from the Vickers. The plan as outlined
provided for an increase OF the Pennsylvania cor
norations capital stock from the present 100000
% 80 90 OOO or possibly larger sum- the add
tional s. capital be supplied by Vickers
Sons g. Maxim which Arm would receive In return
stock IN the enlarged corporation. and the holders
~ common stock In the present corporation would
receive new stock. 1t also said that seven
hundred acres OF unused land owned by the
Cramps and lying adjacent 10 their shpyards
would be utilized for the projected extension OF the
sb,nbuilding plant Several well-known hnanciers
Of this city were mentioned in the reports in
terested In the scheme but those who were
Tas ardaV WOUND neitner a..irm nor oeny Ifutn
OF the story 1890
refer YOU to WINS" he said 10 The Tribune re-
norter Yesterday He will be here tomorrow and
YOU had better get your Information from him"
Ernst Thalrrann, OF Ladenburg. Thalmann Co,
who 4 n director of the Cramp company was
eouall unwilling discuss the report but his rep
tained on Friday. following Thursdays meeting OF
the directors OF the company. Isaac Seligman. or
r q " Sallginan & Co. declined 10 discuss tho
suhiect and at the Office of August Belmont & Co.
n was denied that Mr. Belmont was as had been
reported. interested In the plan.