The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-11-17
He Says the Advance I'm Price Is out OF
Proportion To the Increase I'm
Wages and Raw Material.
CHANGE In A BUSINESS FIRM
EDITOR HARVEY ELECTED PREsI-
DENT OF HARPER & BROS.
The WelI-known Publishing House
Not to he onsolidated with Double
y & Mcclure, as Reported.

WASHINGTON, Nov. 16 = William H
Griffith. a tin-plate maker Of Washington.
Pa was before the Industrial Commission
to-day. He told the commission that his
company, which has since disposed OF its
plant, cleared % per cent. in profit last year.
when the price OF tin was s2.eo per box.
the lowest ever known for plate. He also
said that just previous to the passage or
the Mckinley bill and for year or 50
afterward, when the price was S.e5. the
profit was fully 100 per cent. He said that
while his company had sold its plant TO the
trust, the transaction had been without his
sanction and that he had since undertaken
the establishment of an independent plant.
also located at Washington, Pa, which he
soon would have In operation.
The sale OF the old plant had been made
under the representation that the consolida-
tion was necessary to prevent competition.
and there had been fear that IL they did
not go into the pool their business would be
injured. He had not accepted this opin-
ion, and consequently was preparing as
rapidly as possible to re-enter the field. Nor
did he accept the view that large combina-
tion had any advantage over an individual.
| but believed the advantage was rather with
| the individual.
In re-establishing himself he had found
| that he was hampered in securing machin-
| cry, the American company ihaying control
of the makers of tin-plate machinery. as
well as of the manufacture OF plate itself.
| In suhstantiation OF this statement he said
| that manufacturing company which had
| entered into an agreement with him 10 sup
ply him for five years had already refused
| to fill an order, after an official OF the trust
/ - h. 30
| that company. The restriction. he said. also
extended to the independent manufacturers
| of sheet iron, the American company refus-
| ing to sell to them except on the stipulation
| that they should not sell their product to
| the makers of tin-plate. Furthermore, the
combination refused 10 supply .obbers and
others with their especial brands. except
on condition that they assign their brands
| to the trust There was a similar restric-
ton on block plate, and half the 'dippers"
| In the country had been forced out OF busi-
| ness. He thought the managers OF some OF
| the different plants in the trust were grow
| ing restless under these restrictions, as
! they not running nearly steadily
as before the combination was effected. or
| the 272 mills In the combine" eighty had
| been closed.
| Mr.. Griffith said that since the trust had
| been organized prices of tin-plate had ad-
vanced from $3.50 to si.5 per box. This adj
vance was out of proportion TO the advance
| in wages and raw material. He made a CAL
| culation TO show that 1884 would be profit
| able price under present conditions. How
ever, he said that, Notwithstanding this adj
| vance In prices, he had reason 10 believe
some of the members OF the combination
were woefuly disappointed in the results.
He also understood that the employees in
the trust mills were becoming apprehensive.
which he thought was illustrated by the fact
4 that of eight hundred rollers employed by
the combination no fewer than 80 had made
| application to him for places In his estab-
| lishment
Mr. Griffith said that while the American
| company was capitalized for s50.00o0oo. the
plants comprising the combination could
have been bought, at the time the combI-
nation was effected, for sl2,eo0.o0o He there
/ fore considered the company oyercapital-
| lied. He had understood that the promoters
| Of the combination had received $1,000 900
| In common stock for their services. The
standard price paid for mills in forming the
| trust was $4,000 each. His own company
| had received an advance OF - per cent.
upon the cash valuation.
| The witness said he considered the tariff
essential TO the protection OF the tin-plate
| industry in this country, but he would not
| say that so high a tariff as the present
was necessary to its existence.
| Mr.. II. F. Going, un-can manufacturer.
| who was for several years also engaged in
| the canning OF fruits in Baltimore, said
that in recent years there had been much
complaint among Gamers on account OF the
| thinness OF the tin coating OF the cans. and
| this had been especially noticeable since
| the organization OF the tin-plate trust.
| Previous to this deterioration the American
plate was regarded as superior TO the Welsh
| article.
Mr. w. L. Sawyers. secretary of the Cor
poration Trust Company. OF Delaware. ex-
planned 10 the commission the operation or
the Delaware corporation laws and the
methods OF his company, which acts as the
transfer agent for a number OF trust COM
| binations.
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