Bridgeton pioneer., 1898-01-06
BIG GLASS SYNDICATE.
A Thirty Million Dollar Syndicate to Owr
the Glass Factories, Including
Those In BridgefOn.

Before the present year has been far
advanced, it is quite likely that all of the
glass factories in this city, as we'll as
those East of the Alleghany's, will be
owned by syndicate of English capital
lists. The details are known by the Pro-
NEER, and sufficient of them can be
given to the public to acquaint the people
with what is likely to occur.
A few days since, the PIONEER inti-
mated that an English syndicate was ar
ranging to buy the glass factories of this
city. That is literally true, and the same
syndicate will control not only the
Bridgeton factories, but all the factories
of the East.
The syndicate of English capitalists
started in with thirty millions of dollars
as capital. They were underwritten by
two of the most prominent broking firms
of London, and Immediately one hun
dred and fifty millions of stock was sub
scribed, five times as much as could be
procured.
Immediately the syndicate established
an agency in this country, opening an
office in New York City, and employing
one of the greatest of New York law
yers. The agents of the syndicate then
began to obtain options upon the glass
manufacturing plants of the East, in
cluding window, hollow-ware and flint
plants. Then an Office was established
in one of the biggest buildings in Phila-
delphia city, and John T. Woodruff, of
Camden, was engaged to look after the
legal affairs of the syndicate on this end.
The agents of the syndicates continued
to obtain option upon plants in this sec
ton, and it is said that with one excep-
ton, possibly two, all the factories here
have entered into the agreement to sell
outright for cash, the present manage
ment retiring Immediately from all con-
nection with the glass business. The con-
cern here mentioned as not having agreed
to sell, is not one of the large ones, but
rather one of the smallest and most re-
Gently organized
That the syndicate means business is but
illustrated by the action of one ofthe most
important firms of Millville. One of the
heads of that concern refused to sell.
Finally, when it was learned that all the
other iactoiles were going in, this par
tlcular member communicated with
his London correspondent and the syn
dlcate was sinvestigated. The report made
TO the firm by that correspondent caused a
number of book-keepers to come to Mill
vile Immediately, and an accounting of
plant and stock was made that price
might be fixed upon the big concern.
Fires have been blocked from time to
time in that concern, as we'll as in other
factories, but not because of dull times
particularly, but that stock might be
taken and no more production made
while the stock taking was in progress.
Fires have been blocked in local factories
for the same reason.
The gigantic syndicate has reduced
everything to the most minute system.
In some instances the syndicate has not
been able to agree with owners on figures
for plants. A Board of Appraisers then
steps in. This Board is composed of
three glass manufacturers, one from
Quinton, one from Clayton and one from
Bridgetop.
1t is further said that a Bridgeton
manufacturer will have an important
position with the syndicate.
1t is also said that the syndicate has an
option upon the three soda ash factories
in this country.
"A prominent manufacturer who has
given an option to the syndicate on his
plant, and whose name is withheld at his
own request, said: "Our firm did not
care to sell it's plant, but there wasn't any
thing else to do. When all the other
firms were getting in, we simply had to
get in with them, or be crushed out of
existence. It's one of the biggest combi-
nations ever effected in this country, and
Will have absolute control of the entire
glass trade, in all its branches, in the
East.v
Asked what he thought the effect of the
change OF ownership of the Bridgeton
factories would be, this manufacturer
SAID: 1T will mean boom for Bridge
ton. All the factories operated will be
run by one Superintendent, and only
one office will be required for all the con-
cern. 1t means less contention among
the men. All of the factories owned by
one syndicate. will pay the same wages,
and there will be no advantage for the
blowers and others to go from place to
place. That will give Bridgeton more
stable citizenship among glassworkers.
Bridgeton having big, complete, modern,
plants. will be operated when the smaller
factories may be idle owing to no de-
mand for ware. 1 am fully convinced
that the syndicate will cease operating
small factories in places like Fairton,
Elmer, Williamstown and other similar
! places. Manufacturing will be concen-
trated in the more important towns, and
thus, Bridgeton is bound to be benefited.
Pm quite sure that there are three
factories in Bridgeton that will not be
operated, on hollow-ware, but the larger
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