The evening times., 1898-11-21
Trust Magnates, Moore Bros.
Oh their Feet Again.
CAN PAY ALL THEIR DEBTS
Banks and Big Corporations Gang
in Their Collapse.
In the Speculative World Again
With "A TinpIate Syndicate of
Fifty Millions Capital.

Chicago. Nov 2l.-The business world
here has received severe but pleasant
shock in the announcement that Moore
Bros, who failed TWO years ago through
their wild speculations in Diamond Match
Trust and Cracker Trust stock, are on
their financial feet again and viii pay all
their liabilities. They have given notes TO
their creditors for the amounts due, and
these notes are regarded as equivalent 10
cash.
The firm, whose disastrous deals
brought about a S2l, 900. 900 collapse, con-
slsts Of Judge William H. Moore and
James Hobart Moore. The first named
is a shrewd lawyer who. through his
knowledge of corporation law in different
States, was able TO gObble up competing
companies and create the Diamond Match
Trust a monopoly based on the lines OF
the Standard Oil Company. The trust
was capitalized at $l0000,0oo, a proportion
Of which was water.
The stock was at 100 on the Chicago
stock exchange when the Moores started
by manipulation u put up the price. They
hoisted it up TO % and the bears, con-,
siderlng that ridiculous figure, pounded
il and sold il by the thousands OF shares.
The Moores took all that was offered at
high figures. Suddenly the bottom drop
ped ont Of the speculation, the banks be-
came scared and threatened TO call their
loans on the stock. The firm went To The
wall, the stock tumbling almost At once
10 lis a share.
So great WAS the panic that the Stock
Exchange here closed and kept closed
for nearly a month. 1t has never recoV-
cred from the blow Fortunes Of whole
sale size were found to be paper tor
tunes. The closing of the exchange WIS
an effort TO protect these fortunes from
being wiped out in a wild bear campaign.
Pullman. Letter and q dozen banks were
caught in the smash and were compelled
10 take match stock al a price away be
low that at whieh they had made heavy
loans. The MOores lost personally s. ,nJo,-
600.
Another trust which they had organized
and operations which We're Jumped with
Diamond Match dealings, was the Crack
ur Trust or New York Biscuit Company
which never had much luck from the
start. II was doomed up, however, by the
same methods that made match stock
climb 50 high. Edwin Could who has a
match outfit Of his own. was one Of those
who helped to pound the Moores, in both
deals, it is said. The Cracker Trust col
lapSed completely.
swept up the Armours. Pullmans and
Letters took charge of them and began by
conservative management to try and get
their money out. The NoOres dropped
temporarily into obscurity, though they
Were popular and We're most leniently
treated by their creditors. 1t was felt
that they would never get on their feet
again.
But time brought many changes. The
Al. gr.F o.,
ly due TO a destructive rate war which
it was fighting with the American Bis
cult Company. which interested folks
feared would end very sadly for both.
The MoorcS.. true TO their original in
stinct Of consolidating and trust making,
conceived the idea of uniting them under
one management
Heavy Eastern financial interests were
solicited TO underwrite stock for new
company 10 purchase the assets of both
The deal worked successfully and the
Moores got a bonus of s., 010,O00 in stock
This has increased in value by 40 per
cent
Since then the Moores have formed a
tin-plate trust with a capitaE Of $4,000
90 This deal promises TO suTpaSs the
biscuit deal a money maker for the
Moores and the other insiders as the
subscription rights to the securities are
selling at Is per cent premium in spite
of the large amount of water in the cap
italization. ii is believed that when the
chips are Cashed in the Moores viii pay
on All their debts with certified checks.
They have not only restored them
selves TO s0lvency and reEained SubStan-
tial business credit said one of their
friends today, but probably they have
made large personal fortunes besides -
The new tin-plaJe trust viii close out
mills, put up prices and pursue the usual
method Of warfare against competitors.
especially new ones, that makes the trusts
what they are.