The times., 1899-06-27
CYCLE TRUST AFFAIRS.
An Announcement of the Formation
of the Combination.


New York. June 26-The subjoined
statement concerning the affairs of the
cycle trust was made public today by A.
G. Spalding's Offices in the Vanderbilt
Building. 1t is the first official announce
ment of the proceedings The statement
follows:
"A meeting of the cycle trade which is
TO form the nucleus of the American Bicy-
Gle Company was held at the Waldorf-As-
toria Hotel, New York City June q, 90.
and 90.
The temporary organization was effect
ed with A. G. Spalding as chairman, AMI
c. W. Dlckerson as secretary. Mr.. Spauld-
ing made a complete report of his work
in connection with this matter, which was
enthusiastically received and endorsed by
the meeting, as indicated by the following
resolution, which was unanimously ad-
opted:
Resolved, That all who are present at this meet
ing ion themselves and the corporations OF firms
which they represent desire to express to Mr.
Albert 6. spaldng their appreciation of the
ability and fairness exhibited by him in forming
this combination Of bicycle manufacturers And
further approaching the immense amount Of labor
involving persistent and unremtting efforts for
many continuous months. congratulate him
that his initial labors are successfully completed.
Mr.. Spalding reported that it had been
necessary to proceed with the concerns
already closed with, as it was an impossi-
bility to consider the other options now in
his hands until the organization of the new
company was completed
Committees on organization, manufac-
In coll
were appointed at this meeting to prepare
/ plans for the future work of the company
Each committee made reports before ad-
journment covering the various subjects
and these reports viii be amplifed by
further consideration and will be present ed
to the officials of the new company. when
elected, and viii probably form the basis
/ for future action for the company. The
committee on domestic sales recommended
4 to the meeting the concentration of branch
stores in different cities and their aban-
donment as fast as practicable from the
/ retail field, leaving this business of the
company TO be conducted by the -egular
retail agents and dealers. This committee
/ also strongly recommended that all agents
throughout the country who have been
/ identified with the trade and some par
/ icular wheel. be retained and. in fact,
/ everything possible be done that viii be
10 the advantage of the agents and make
/ their handling of the goods manufactured
/ heretofore by the different concerns that
/ viii form part of this organization
/ as satisfactory and profitable as pos
! sible. the general idea of the re-
( port being that for the coming year
as little change as possible be made in the
present method of distributing the goods
/ This will. doubtless. be reassuring news to
the trade at large, as there had been some
! apprehension that the new combination
would undertake TO sell its wheels direct
to the rider, thus throwing out of business
a large number of agents who have pushed
the sale of the brands manufactured and
earned for themselves a livelihood.
The bankers who have undertaken to
finance this company, and who will have the
selection of the officers for the first year,
desired an expression from the manu-
facturers as to whom they would recon-
mend for the oiflee OF president and ten
directors. and at their request sealed
vote was taken, which resulted in prac-
tically the unanimous choice of A C.
Spalding for president. The vote for di-
rectors has not been canvassed and was
not announced.