The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-08
CAPITAL INVOLVED ENORMOUS
WHISKY TRUST AND INDEPENDENT
DISTILLERs SEEM UPON THE
EVE OF TROUBLE
AN ULTIMATUM IS PREPARED
Latter Insist That the Production
Of Spirits Must Be Confined to the
Needs of the Market-WiI Ask the
Trust to Cooperate, and In Event
OF Refusal There Will Be War
in Earnest.

NEW YORK. Aug. THE formation
OF glove trust is assured. 1t will be
organized on different lines from other
combinations of capital, and its creation
will mark new era in the glove trade Of
the country, because not only will the
members engage in the manufacture of
ladies' fine gloves, not heretofore at
tempted in this country on a large scale,
but they will make strong bid for for
eign trade, which they believe will be
successful.
Quite a number of out-of-town glove
manufacturers are in the city, including
Lovington Ross. Of the Hall & Ross
Husking Glove company, of Chicago; A.
L. Eisendraet, of the Eisendraet Glove
company, of the same city; A. L. HaIIock
of Columbus, O., and several from the
Mohawk Valley district, of this state.
Others are expected. Charles E. Payne,
of Chicago, attorney for the American
Trust and Savings bank, Of Chicago,
which is furnishing the capital and ac-
cepting the options for the organization
of the glove trust is in New York. He
said to a reporter:
glove trust, and matters are so far ad-
vanced that while the contracts do not
call for the taking over of the property
before Jan. l, 1900, we shall take it over
in November. The capital stock will be
$2O,00O0OO, of which $S,0OO,OOO will be pre-
ferred, representing the actual cash value
of the property taken. The common
stock will be distributed in the nature of
a bonus.'
Our plan Of organization will be en-
tirely different from that Of other COM
btnes. We have been at work for six
months, and our main aim has been not
only to secure the biggest concerns in the
country, but to retain at the same time
the services of the persons now operating
them. We have succeeded in interesting
the manufacturers, and all of them re-
gard our policy with great satisfaction.
Many of them have already signed con-
tracts The financial headquarters of the
trust will be in New York city.
Nearly all the fine gloves of the coun-
try are produced in Fulton county. New
York. What are known as working
gloves are made mainly in Chicago and
Columbus. Then there are what are
known as fabric and wool gloves. and
these are made in Chicago, Milwaukee.
Mlchlgan City, Indianapolis and San
francisco. Whether these last named
VIII De taken into the trust has not been
declded definitely, because the plants
produce stockings, mittens and other ar
ucles that cannot be classed as gloves
Inc manufacturers, however. are anxious
10 come IN. The Saranac Glove COMPANY
OF L1ttIeton, N. H, probably will ioin
ana am going to see the owners tonor.
row. '0i0i
BAD FOR TRAVELLING MEN.
The formation of the trust will make
an Improvement in glovemaking in New
| YORK For years We have been importfne
| LADIES' gloves, very few of which have
been made here, to the value of 81. 600. .OOO
| year. We believe we can make lust az
| good, II not better article, and hope to
obtain nearly all that business. We pro.
| pose also to build up an export trade.
! only lew years ago the idea of export
Ing leather, steel, locomotives and MANY
| other products were laughed at, but we
! are doing 1T, very successfully, and are
| satisfied we shall have no difficulty in
| selling them abroad If we make the prop
| er kinds Of goods. We are not only sat
| iShcd we can make the goods to satisfy
those who have bought the imported goods
here, but can undersell the manufactured
|
| pose Of the trust is to reduce the cost of
manufacture and to sell wherever posi-
| BILE. Instead of sending fifty drummers
| to one small town we shall send one
Instead Of running four stores in New
| York, one will be enough. Just now from
800 to 1,20c different styles of gloves are
made. Under the consolidation this num-
ber can be immensely reduced and vast
sums can be saved. For years the manu-
facturers have received less than 10 pei
cent of the net profits of the glove trade
! The balance has been divided between the
! jobber and the retailer. The jobber, too
has been a source Of much expense, as tr
many cases the manufacturers have ha6
to advance the capital to carry him along
and this has been a great hardship. Prof
it's which heretofor have gone to the
| non-producing middlemen will be saved
and we believe that the trust will result
in saving to the consumer at least 10 pei
cent in the price paid for goods"