The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-01
PAPER MAKERS COMBINE.
They Organize an International Com
pany, with $45,OOO.OOO of CaDitaI.


ALBANY, n. Y, Jan. 81 The Interna-
tional Paper Company, of Corinth Sara
toga county, New York a combination of
all the big firms in the country filed arti-
cles of Incorporation to-day with a capital
of $45000,O00 The company is formed 10
maintain conduct and manage in the State
of New York and elsewhere all kinds of
paper, including the manufacture and pro-
duction of any other fiber, and as part of
an incident to such business, the mining of
iron pyrites clay, sulphur, COAL agolite and
any fibrous minerals and materials, the pur-
chase, lease and development of wood lands,
and to purchase and to hold merchandise in
other States of the United States and Can
ada. The capital stock of $45. 1000 is
divided into Sc. 600 900 preferred stock and
$50 COO common stock. The power is re-
served to increase the preferred stock by
issuance of 100 00G shares of the par value of
500, if the same shall be required for the
conversion Of the mortgage bonds of the
company to be issued for the aggregate
principal sum of $10,000000. Among other
things the company is authorized to pur-
chase, acquire, hold and dispose of the
stocks, bonds and other papers of indebt-
edness of any corporation, domestic or for
eign, engaged in a business similar to it's
own or which is in any way connected with
the manufacture of any of it's component
parts, or 1t may issue its stock or bonds in
ty of any corporation which it desires TO
absorb.
The directors are: Ogden Mills. D. O.
Mills, William Dillon Judson T. Francis,
Hall Park Mccullough Melville Edgar In
gals, jr., of New York city; Alonzo N.
Coolidge, of Glens Falls; Warren Curtis, of
COrinth: l. w. Drew, of Lancaster, N. H. :;
Frank T. Bonner, of Newton, Mass; David
" SNOW Of P9rtand Me- Edward R.
corporation tax of $50, $50
The new company, It is said; will take
heavily interested in the Niagara Falls Pa
per Company is reported as having said:
"All the large paper mills of the east are
in the combination and some of the largest
Western mills. do not think the consoLda-
ton will result in any material change IN
prices Its chief advantage will be concen-
tration of management and the reduction of
expenses.
1t is said that there are now sixteen COM
panies in the combination, with a possibil-
ity of five more coming in.
The mills represented are included in the
following, with their capacity per diem:
Otis Otis Falls = Pulp Company, Livermore
Company. Berlin, KY, 135 tons; Rumford
Falls Paper Company, Rumford Falls, Me.
100 tons; FAN Mountain Paper Company,
Bellows Falls, VT. 105 tons; Winnpesogee
Paper Company, Franklin, N. H., 20 tons
Webster Paper Company, Bangor, Me-, 26
tons; Montague Paper Company, Turner's
Falls. Mass IL tons; Russell Paper Com
pany, Lawrence, Mass, 20 tons; Falmouth
Paper Company, Livermore Falls. Me-,
50 tons; Haverhill Paper Company,
Haverhill, Mass, 40 tons; Glens Falls
Paper Mill Company, Glens Falls. N Y,
275 tons; Hudson River Pulp and Paper
Company, Farmers Falls. N. Y, $50 tons
Niagara Falls Paper Company, Niagara
Falls, N Y, 120 tons; Lake George Paper
Company, Ticonderoga N. ", so tons
Herkimer Paper Company, Herkimer, N.
Y. % tons. There are five other mills which
will eventually come into the combination
|! The time which would be necessary for
them to make the arrangements will delay
the formation of the trust, and it was
thought best to go ahead Immediately with
the organization. These five companies are:
The Pierce-Ffeld Falls Pulp and Paper
Company, Pierce Field Falls, N. Y, so
tons: Gould Paper Company, Lyons Falls,
KY. 40 tons; Ontario Paper Company
WATERFOWL, n. Y, 126 tons; Remington
Paper Company WATERFOWL n. Y. 30 tons
Wilder Company, Olcott Falls, VT. 40 tons.
This will increase the total tonnage to
1543 tons per day. For the first year each
plant will be operated under the present
owners, but when a general manager is
elected he will have power to appoint his
assistants for each plant.