Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-03-23
THE SARDINE TRUST.
The Syndicate Is Backed by
S5,000,000 Capital.
Will Not Compete With the Newly
Formed American Syndicate.
Sketch Of tho Organization and What The Bust
ness win Embrace.

Eastport, Me-, March 21.-When the
carefully prepared plans of the we'll
known sardine syndicate were consuni
mated, last week, followed by the de-
post of $4,000 in the Frontier Nation
al Bank and the signing over OF the
by their respective owners to the Chi
cago promoters. it was generally sup
posed that the question of combines,
trusts and syndicates would be at an
end.
The attention of all the coast can
ners has been directed to this island
clty--the home of the American sar-
dinc--for many weeks past and the re-
suit of the convention held at the
Ouoddy Hotel. last week, was of course
surprise to many OF the leading
packers of herring. especially those
who had refused to enter the syndi
cate 1t was generally known that the
large commission house Of Wolff &
Reessing or New York City, had been
asked TO enter the combine, being in
formed by S. g. Stevens of Ellsworth.
in connection with Messrs. Killick and
looked after the plans. last week, here.
The refusal of this widely known firm
TO join hands with the syndicate occa-
stoned considerable surprise and com
ment and IL was later learned that all
the packers would not sell out to the
Western capitalists who We're repre-
scented here. Without the name of
Wolff 4 Reessing on the list there
we're many who decided that Ii might
not prove as successful as anticipated
and when Mr. Wolff arrived in East
port recently with several moneyed
supporters. there was a revival Of the
prospects of second company being
formed among the packers then out
OF the fold. The News correspondent
is in possession of the facts relating
to the visit here OF Mr.. Wolf and his
party OF friends. which were secured.
early in the week
IN the first place Mr.. Wolff stated
that he will not form syndicate, COM
bine OF the like. such as was formed
here several days ago. but the stand
ard Sardine Co. is the name given t.
the new industry. 1t is started for the
purpose of bringing inc the market a
and packed in the French patented
rolling top key cans for the first time
on this side Of the Atlantic.
The Standard Sardine 60. was or
ganized under the laws of the State Of
Maine. with capital of 5000, 900 pre-
rerred stock s.. OO0, 600. and common
stock sS.o00.000. The president of the
company is George Burnham, Jr., of
the Portland firm of Burnham 4 Nor
rill. who is reputed to be one of the
richest men in the State. Mr.. Burn
ham was here several days recently
and visited the plants here and al
North Lubec. The treasurer and Sener-
al manager of the new company is
Julius Wolff, Esq.
The directors of the company are
William 3. Dudley of Hugh A. Dudley
x Co.. Adolph Goldmark OF Rosen-
stein Bros. & Co. also Mr.. Frothing-
ham of Steele. DeFriese & Dickson. dll
well known commission merchants Of
New York City. Besides these are
Jasper Wyman of Wyman Bros, Mil
bridge. and Elias Lawrence of Law
renee Bros. North Lubec. each beinf
prominent sardine factory owners al
the above towns.
Several of the larges, wholesale gro
Gerry houses at New York City are
among the subscribers. prominently
among them being mentioned Frances
II. Lccgett. Austin Nichols x Co., and
II. c. Williams.
The company has capacity with
the improvements they are now putting
into their many factories in this vlcin-
i.y. to pack about 100000 cases this sea-
son. The Standard Sardine Go. has
four steamers besides a large fleet OF
sail boats which will carry the supply
of herring from the weirs To the fac
tories along the Maine shore. 1t can
be stated here on unimpeachable au-
thority that the Standard Sardine Co.
will in no way compete with the re-
Gently formed American Sardine syn
dictate.
The Standard Sardine Co mas at
present Is sardine factories for imme-
diate operations along the Maine coast
which can pack nearly 100000 cases.
and when enlarged later in the year by
the addition of the new can shops will
pack fully 100000 cases during the sea-
son.
Mr.. Wolff will build factory at Sea
street mere. Oh the spot where HIS ipi-
mer large canning plant was. up TO the
severe fire of Sc. which burned several
other factories. Only a few feet away
is the wharf of the Washington County
Railroad and the terminus of the road
passes along this street to the mterna-
tional s. S. wharf. 1t is also stated on
the same good authority that the Stand
ard Sardine Co. has paid 10 per cent.
cash down for all the factories on
which they have options and the bal
ance of the money will be paid when
all titles are searched and found corr
rect. .- .-..t .....-
From this latter transaction it would
seem that the new company meant
business and intends to carry out their
plans before the opening of the can
ming season in May. and not organized
to antagoniZe the former syndicate
alone or make spread for effect as
was given out by many factory owners
who went into the combine last week. |
Mr.. Wolff went to North Lubec recent !
ly in company with Mr.. Durham of
Portland and.in remarkably quick time. |
less than half an hour. closed trade |
for a quantity of lumber and logs |