The record-union., 1899-07-09
BRITISH OIL SEED COMBINE.
SUCCESS OF J. r. BARTLETTS
CAMPAIGN ASSURED.
The American Succeeds in Drawing
60 Per Cent. of the Trade Into
an Amalgamated Company.

The complete success of John r
Bartlett's campaign in the English oil
seed trade is assured. When he came
to England five months ago the man.
ayers of the linseed and cotton seed
crushing mills and refneries were COM
petlng sharply with one another and
adopting no methods for SELF -prese1va,
ton. He has drawn 60 per cent. of this
great trade into an amalgamated COM.
pany. His plan Of operations has been
adopted by majority of the trade,
including all the strongest companies
and firms. He has made contracts with
seventeen corporations and firms ard
purchased twenty EIGHT mills and
twelve oil refineries with plant, bust.
ness and good will.
The British Oil and Cake Mills, Lin.
tied, has been organized TO carry into
effect these agreements made by him
and his brokers and to conduct the
business for the common advantage OF
the majority of the trade. The snare
capital and debenture stock of the con-
solidated company is f2,250,OO3, bit
t5OO,O 900 is reserved for future develop
ment of the business. The first issue,
amounting to 81 100000, will be offered
to the public next week; FL 45O. 600 has
already been underwritten and the re.
mainder will probably be covered in a
few days.
The British Oil and Cake Mills. Linn
tied. is an exact reproduction oe SINH
lar amalgamations in America, with the
single difference in detail that the stock
is not watered. There has been no
over capitalization, the good will Of
on hard cash basis of actual dividend
earning capacity
The strongest companies in London,
Hull, Liverpool, Glasgow, Gloucester
and other centers of the oil seed in,
property to the consolidated company
of which Hugh Colin Smith and the
chief managers of the mills and refin-.
cries are the directors. The business
will be managed for the common bene-
fit by the combined practical knowi,
edge of the directors Mr. Bartlett will
probably be Vice Chairman of the new
company, Lord Vantage and Reginald
Abelsmith are trustees for the deben-
ture stockholders.
The new company is neither a trust
nor monopoly, but simply one OF
many industrial amalgamations which
are formed here as readily IS in Amer
lea. English law sanctions such con-
solicitations and they receive the sup
port of the greatest financiers. and
there is no popular agitation against
them. The promoters of the reorganf.
zation of the oil seed trade have been
Influenced by the increased severity OF
competition in the purchase of supplies
and the distribution of products and
have taken concerted action to secure
what they consider fair trading profit
The consolidated company will be pow
erful enough to control production, but
the natural effect of economies In the
purchase of seed. the disposal of prod.
ucts and the improvement of plants
will be the reduction of prices to the
English oil trade.
While allowing Mr.. Bartlett to carry
out his own plan without modification,
the British trade is acting entirely for
itself and independently of any A,nesi-
can trade amalgamation. There is as
yet no concerted action between the
trades of the two countries nor any
attempt to regulate prices by an in
ternational trust or combination. Sorne
basis of common action may be ar,
ranged in the future.