New-York tribune., 1899-06-22
A VAST COMBINATION.
wHTSKEY, SPIRITS AND ALCOHOL IN
TERESTS TO UNITE.
THE DIsTILLING COMPANY OF AMERICA
EXPECTED TO BE INCORPORATED AT
TRENTON WITH A CAPITALI-
zATTON OF st25 00 Ono
ZATIoN OF s125. 900 900

! Announcement was made yesterday OF the
/ completion Of arrangements for another vast
industrial combination. that Of the whiskey.
spirits and alcohol interests Of the United
States. The consolidation. the chief agent In
efectng which was Henry D. Macdona. brings
/ into one central company. the Dstng Com
! pany Of America, which will probably be incor-
/ pOrated at Trenton this week. and which Is TO
/ be capitalized at S125OO0OoO the American
Spirits Manufacturing Company, consisting OF
/ eighty-fve separate concerns the Kentucky
Distileries and Warehouse Company, consisting
of ffty-six concerns; the Standard Distilling
and Distributing Company consisting OF fifteen
concerns: the Spirits Distributing Company
and number Of the most important rye whis-
key concerns. The State Trust Company and
! the Central Trust Company 10 finance the
| consolidation fact which lends color to the
/ report that the rev company will be controlled
/ by Whitney syndicate interests as Mr.. Whitney
and his associates in that syndicate. Thomas
, T. Ryan. P. A. b. Widener. William l.. Elkins'
/ Thomas Dolan and Anthony y. Brady. have
/ for some time controlled the State Trust Com
pany and Mr.. Ryan is associated with Fred
/ eric p Ocott president OF the Central Trust
! Company In many important enterprises.
AGGREGATING so, 10000.
The companies going into the consolidation
have securities aggregating S94jO0O0O but un-
der the plan Of consolidation there is to be
| contraction Of these securities to SiG5ooDo TOT
which amount in addition TO the old securities
the new company will acquire certain OF the
new important rye dsteries. among them the
Hannis Distilling Company. owning the Mount
Vernon and Hannisville properties, and the dlf-
ferent distributing plants Of those concerns.
The working capital Of the existing companies
! TO be absorbed is about S6ooOro The
| new company is TO have additional working
| capital of 5000 Oc0 Of which S1.JoOWO VIII
be supplied at once The capitalization OF the
new company is SO 100000 I per cent cumu-
! lative preferred stock and S10.O00,0oO common
! stock. OF these amounts 1t will retain in its
! treasury, for the purpose OF future acquisitions
when deemed advisable. S23. 10000 preferred
stock and S23 10000 common stock
! The basis proposed by the organizers for the
purchase OF the stock Of the constituent com
panes is as follows: For preferred stock OF the
| manufacturing company 20 per cent in pre-
| ferred stock Of the new company; for Its com
mon stock % per cent in new common STOCK
! For preferred stock OF the Kentucky Company
S5 per cent in preferred and 10 per cent IN COM
mon stock OF the new company; for It's COM
mon stock 20 per cent in new common STOCK
For preferred stock OF the Standard Company
So per cent in preferred and 10 per cent in COM
mon stock OF the new company, for its common
stock 90 per cent in new common stock For
first preferred stock Of the Spirits Distributing
Company 80 per cent in preferred and 10 per
cent in common stock Of the new company: for
ts second preferred stock 20 per cent In new
preferred and 20 per cent in new common stock.
Several Of the large shareholders have already
deposited their certificates with the Central
Trust Company and the proposed basis has re-
ceived the approval Of the officers and directors
of each OF the companies
ORGANIZED IN 1898.
The American Spirits Manufacturing Com
pany was organized under the laws OF the state
Of New-York in 1895. and the outcome OF
the reorganization Of the old Distllling ard
Cattle Feeding Company. which was the owner
Of elghty-three spirits and alcohol plants.
The Spirits Distributing Company. which was
organized under the laws Of New-Jersey in 1896
controls the Rverdale Distlery and the Shu-
feldt and ST. Paul distributing houses for the
product Of the manufacturing company. The
Standard Dsting and Distributing Company
was organized in 1898 under the laws OF New
Jersey. and took what were known as the
'independent distillerles" Chose not embraced
in the American Spirits Manufacturing Com
pany) and all the principal distributing houses
controlling the distribution Of spirits and alco-
hOl. The fourth group, the hentucky iJlSliitIIes
and Warehouse Company was organized IN
February 1899 under the laws OF New-Jersey.
taking over distillaries controlling % per cent
Of the standard brands OF whskey produced in
that State
The so-called whiskey and alcohol business
OF the country is embraced under four great
heads: Alcohol and spirits. Bourbon whiskey.
rye whiskey, and the distribution Of those prod
ucts Through its constituent corporations the
Distilling Company Of America already has
practically complete control Of the countrys
output Of alcohol, spirits and Bourbon whiskey
and also OF the machinery for their dstribu-
tion-an extremely important consideration
and il is treaty for the acquisition OF the
most desirable of the rye whskey companies
not yet taken over by II. as well as for their
distributing plants II is estimated that. put
ting together the plants already embraced in its
constituent companies ard the rye Whiskey con
Germs which II is soon 70 absorb. the new com
pany will produce and distribute more than B
per cent OF the total yearly output Of whiskey,
alcohol and spirits in the United States
LOCAL DISTlLLERS COMBINE