The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-11
STOVE MAKERS TRUST
MANUFACTURERS URGED TO ENTER
INTO A COMBINATION.
Chicago Street-Car Deal Said to Have
Been Observation-Disclosures to
BE About S25, 900, 900.

CINCINNATI. o., May 10.-The twenty
eighth annual convention Of the National
Association Of Stove manufacturer con-
vened here to-day, with about six hundred
firms represented and over 30 per cent. of
that line OF manufacturing represented.
1.-THE Cast Formulas as Affected by Recent
Changes" was discussed by J.. W. Van
Cleave, st. Louis; w. H. Palmer, Philadel-
phia: George Thompson. Vincennes. Ind;
Frank A. Magee, Boston; H. W.. Buttorff,
Nashville: John A. Roe, Allegheny; George
A. Dana and others. Fred w. Gardner. OF
Chicago, led in the discussion as to who
are Our Competitors" AS the price of raw
materials has increased so much since the
recent organization of trusts there is some
talk OF all the stove manufacturers organ
izing such a combine.
The feature OF the day was the annual adj
dress of President Prizer. He dwelt at
length on the increase of business since the
last annual convention. showed that this is
the first time in many years when the stove
manufacturer were selling on a rising mar
ket and he criticised many of the members
for not increasing prices more than they had
done during the past year. The principal
part Of his address was in favor of closer co..
Optl anu SuCn d COllDllldllOn 40 WODltl
enable all to maintain uniform prices. He
made a very strong argument in favor Of
the organization of a trust.
AT 5 p. m. the convention adjourned in or
der to hear an address or rather a PROPOSE
ton. from John w. Baker, an attorney of
Philadelphia, representing Eastern and for
eign capital in the interest of a stove trust.
While this part of the proceedings was for
mally separated from that of the convention
proper, yet the change was like that of a
parliamentary body going into committee
of the whole on the condition of the stove
manufacturing business. Mr. Baker ap-
peared not only as a promoter, but as the
representative of capitalists who were
abundantly able TO combine all of the stove
manufactures Of the country il the proprie-
tors so desired. 1t was ascertained that Of
the 300 large stove foundries in this country,
only four Of them were west of the MissiS~
sippi river. Mr.. Baker outlined a plan for
the stove manufacturers first 10 cooperate
mutually and then prepare a proposition for
consideration of the parties he represented.
He held that the economy in operation thus
secured would enable them to reduce prices
so as to control the market and that there
could be no popular feeling against the COM
mission when the prices were reduced. He
insisted that the reduction Of prices was n
necessity in the operation of such d commits
sion.
The propositions in the addresses of Mr..
Baker were so favorably received that a
of seven leading manufacturer
was afterward appointed to gather data
from the stove men as to the amount of
capital invested. respectively, and in the ag>
gregate, the number Of plants that could be
secured, ETC.. and this committee is author
lied 10 confer with MIR. Baker and his asso-
ciates to agree upon a joint proposition,
when option blanks and papers will be sent
all the stove manufacturers of the country.
This committee with power TO confer with
Mr.. Baker and his associates was selected
tonight as follows: Chauncey H. Castle,
Quincy; w. 7. Bussey, Chicago; W. S.
Stevenson, philadelphia; Robert p. Shick,
Reading; E.. w. Anthony, Boston; III. w.
Butteroff, Nashville, and Frank Karnan.
Utica, N. Y.