The times. [volume] (Richmond, Va.) 1890-1903, 1898-04-20
TO MAKE No MORE
PLUG TOBACCO.
The American Company to Absorb
Opponents.
A BIG DEAL IS ON THE TAPlS.
The Old Company VIII Confine Itself
to the Manufacture of Cigarettes,
A new One, THE Continental"
viii Take Up Plug Business.

BALTIMORE, MD, April l9-The Sun
prints the following from St. Louis: A
gigantic deal has been practically com
pleted in this city whereby the Contin-
entail Tobacco Company, with a capital
stock OF 100000, is being organized TO
absorb all the plug tobacco factories III
the United States.
1t is understood that Harrison /. Drum
mond. president of the Drummond Tobac-
co Company of st. Louis IS TO be mace
president Of the new company; j. Is.
Duke. OF New York. vice-presldent' ana
Pierre Lorllard, OF New York, secretary
and treasurer.
Under the new arrangement the Amer
lean Tobacco Company Will take III All lhe
factories making smoking tobacco ana
cigarettes and return 10 It's original Hslu
and the Continental will assume the eN-
elusive manufacture Of plug TOBACCO.
The trust. through the manufacture or
brand Of plug tobacco. Is said 10 nave
| lost on an average 100000 a year.
THE CONTINENTAL COMPANY.
The Iipgett a Myers Company, 1t IS
said. may be merged into the Continental
Company as soon az the latter Is organ,
! lied and under way and that the caplIal
stock was placed az SJO.WOOV, 40 as 10
cover the Liggett & Myers property
When this Is done the understanding
| is that Col. NJ. G. Wetmore' presiuenI
| of the Iiggett & Myers Company, VIII
he elected president of the Continental
Harrison Drummond will become wee
| resident and j. =. Duke Will step OUT
| and give his entire attention TO the al
| fairs OF the American Tobacco Company
CHANGES EXPECTED.
NEW YORK. April 20.-The New YORK
Sun Of to-day says.
at the annual meeting OF the American
| Tobacco Company on May 18th II Is eN-
pected that a partial change will be made
| in the management The transfer books,
which closed on Friday. show extensive
transfers OF stock Colonel oliver ii.
Payne has acquired n large amount OF
| the stock and other considerable
amounts have been transferred 10 John
| g. Moore. G.. b. Schley, and their bust
ness associates.
1.-THE policy of the new interest will be
| 10 terminate the Improbable warfare be-
| tween the company and the manuf1ctur-
| ers Of plug tobacco. Advlces from St. Louis
received yesterday say that new COM
| pany TO be called the Continental To-
| bacco Company. IS planned TO absorb all
the plug tobacco charters Of the country.
| The now company will have a capital OF
| So 100000 President DrummOnd. OF the
| DrummOnd Tobacco Company Will be its
| president: James 3. Duke. OF this city,
who is president Of the American Tobacco
| Company vice-presideut. and Pierre Lo-
rillard. treasurer Plug tobacco and Gig
arctic and smoking tobaccos, n IS pro-
posed. shall be manufactured separately
! I'm the future. The American Tobacco
Company will keep out of the plug 40
bacco field and the new Continental Com
| pany will make no smoking tobacco. The
| ST. Louis advices state that the important
firm OF Liggett < Myers had not yet
| signed the plan FOR the new company
but would do so. The DrummOnd To-
bacco Company has annulled all its
agency appointments ana notified It's
former agents that It will henceforth
make them fixed prices with no commits
| sion or rebates.
END OF WARFARE.
| The Herald says:
In some way or another. the details
OF which are not made known, Ii Is said
that the pyrotechnic moves in the stock
| OF the American Tobacco Company dur
| ing the last week are connected with
coming changes I'm the directory Of the
company
AS a result Of possible changes in the
board II is said that there will be an
end Of the warfare with competing COM
panles in the plug tobacco trade and as
heretofore minated. the Cigarette Trust
will give up the manufacture of this
kind Of tobacco and devote itself entirely
( 10 its specially
AT the same time, II the reported plans
are carried out, the American Tobacco
Company will continue to take an inter-
est in the plug tobacco trade through its
interest i'm a new company TO be known
as the Continental Tobacco Company
some details OF which project have Deen
heretofore given in the Herald.
| How soon this vast project IS likely
10 be carried out cannot now be stated
since it's success depends upon the rais-
ing OF a large amount Of money IN order
10 effect the consolidation or the chlet
interests throughout the country and the
furnishing Of working capital y wall
street man. who is acquainted with the
plans OF the proposed new company sald
Yesterday that it was very douottui Ihat
| anv attemept would be made 10 place
the new organization upon its ieet until
| after the war scare Is over.
"As an indication that the plug to0ac-
On companles have settled their diileT-
| ences the circular Of the Drummond
| company TO its agents is significant J,
notified them that after April loth @l
agencies would be abolished. the oh'y
oilowance hereafter 10 be made to deal
ers Is n discount Of two per cent. Tor
cash"