New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-24
THE PROPOSED STLVERWARE TRUST.
ITS FORMATION TEMPORARILY BLOCKED ny THE
WITHDRAWAL. OF CERTAIN COMPANIES.

ITS FORMATION TEMPORARILY BLOCKED ny TIE
WITHDRAWAL OF CERTAIN COMPANIES.
There Is SIN hope that the movement 10 con-
solidae all the leading concerns manufacturing s-
verware in this country. controlling 10 per cent Of
the total output into one colossal corporation may
result H. success. The scheme has received n tenn
porary setback through the withdrawal Of some Of
the leading companies. but proposals have been
made whereby It Is hoped these companies may
renew their cooperation and make the consoliia-
ton possible.
The proposed trust has been in process OF or
ganization for the last three months About two
weeks ago II was though. that the deal had finally
been arranged II "a said that two OF the concerns
Interested the Mcrilcn Britannia Company and
the wilcox Silver Plate Company. had even gone
so far 20 send circulars TO their stockholders as-
sorting that the international Silver Company had
been formed under the laws Of New-Jersey and
capitalized ut t3oc0o1o. onc-half preferred stock
the other half common. Compensation to compa =
MES entering into the scheme o' consolidation
TO be part cash. moro than n third In some
cases 1t is said that The Meriden Britannia Com
pany was to have received .4.4oOcO FOR It's plant.
the Wilcox Silver Plate Company 81 900 and G
Rogers Bros $4,000.
A trust seemed assured. Then n hitch occurred
In the proceedings. and for time Il looked ns
though the scheme about - fan through Some
OF the principal companies had either lost conf
dence IN the promises made had decided that
there more In remaining Independent than
there WAS in merging their individuality into one
giant Organization. 1t is said that the firm OF II
Wallace & Sons, Of No. 226 rfth-ave and Walllng-
ford Conn. LED the detection. and was followed
therein by TWO other large firms.
The New-YorK manager Of r. Wallace g. Sons
was asked yesterday " this were He said in
substance. 1T Is true that 'silverware trust ia
not yet fact. Steps have been taken toward Thai
end but nothing has been perfected yet. Tho taIk
about such consolidation is. in fact. all hearsav
No knows just what has been done" He ad-
miiicd however. That such consolidation had been
seriously attempted. When asked II the firm Of
r. Wallace * Sons had not prevented the formation
Of the trust he said; Some people changed their
minds. That's about all there Of It,"
"Did not your firm constitute the some people'
who changed their minds"
We'll. made proposition. Then those who
running the affair made a counter proposi-
ton. They not satisfied We have NOT We,
come 10 understanding.
What your propositions
Now. you've asked what can't tell you" he
said. This is al heGrsay. anyhow. On Monday 7
tel You something definite"
one Of the who Is most actively engaged in
the consolidation scheme said Yesterday that IL had
assented 10 the terms meeting will be held next
Wedneaday AT the Office Of the bankers who are
managing the financial end Of the deal. at which IL
f. expected q hnal decision will be reached as -
the fate OF the proposed trust.