The representative. [volume] (St. Paul, Minn.) 1893-1901, 1898-02-09
GIGANTIC BREAD TRUST
Some Trust VIII Next Corner Air and
Water.

CHICAGO, Feb. ALI the biscuit and
chacker companies between Salt Lake City
on the West, Portland, Me-, on the East.
ST. Paul in the Northwest and New Or
leans on the south will today be under one
management.
The name of the new corporation which
was incorporated in the state of New Jer-
sey with a capital of SIS, 1900 of preferred
and $30,0OO,O0O of common stock Is the
National Biscuit Company.
The actual transfer of the deeds of the
various plants controlled by the companies
merged into the national company took
place Yesterday in the office of the Illinois
trust and Savings Bank in this city. Benz.
+. Crawford, of Mansfield, Ohio, was
elected president; w. H. Worries. Of Chi
cago vice president; Frank y. Lowden,
Chlcago, second vice president; 9. E. Rum
sey, Pittsburg, secretary and treasurer.
The following beard Of directors was cleo
ted Benz. F. Crawford, Mansfield Ohio
H. F. Worries, Chicago; Thomas 8. olliver,
New York; David F. Bremen, Chicago
s. $. Marvin, Pittsburg; Henry ]. Evans,
Chicago; Lewis D. Dopier ST. Louis; Nor
man b. Ream, Chicago; VIM. +. Baker
chicago; Joseph S. Losee, Kansas City;
:. r. Rumsey Pittsburg; James w. Hazen
Garrettson, Morristown, n. j.. A. W.
Green, Chicago.
Inc ne" company has purchased for
cash all the assets, bills receivable and
operating plants of all the bakeries, which
We're controlled by the American Biscuit
ana manufacturing company, United
States Baking company, and New York
Biscuit company. 1t also assumes all the
Indebtedness Of these companies
Practically all the stockholders of the
old companies subscribed for stock in the
National company. The amount Of mon
ey paid in stock and cash by the National
company for the holdings in the various
companies which have been merged into
the National is exactly 1923, OOC, 900. 1t was
determined at the inception of the deal to
limit the amount to this and 1t was de-
clared last night that any stockholder in
any of the old companies who has not
subscribed for stock In the National COM
pany will not now be able to subscribe FOR
new stock, 1t being all taken up Such
stockholders will be offered cash for their
holdings in the old companies, at any time
they may elect to sell. If they do elect
to sell. their stock will be taken at the
market, rice. If they do not choose to sell
they are out of 1t.
The new company now has complete con-
troll of the cracker and biscuit trade be-
tween the Atlantic ocean and the Sierra
Nevada mountains. 1t controls 139 different
plants, which is about 80 per cent of all
the large bakeries in the country. No
change Will be made in prices and no such
move is contemplated. The announcement
of the consolidation was carefully guarded
until s o'clock last night when Mr.. Green
made the announcement at his office in the
Home Insurance building.
All the details Of the transfer were con-
Quoted in a locked room in the building of
the Illinois Trust and Savings bank
The headquarters of the National COM
pany will for the present be in the Home
Insurance building of this city. The actual
working of the plants of the company will
be directed from an office in the state of
New Jersey.