New-York tribune., 1899-07-08

% % non AND
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BRITISH OILSEED TRUST.
,ouy R BARTLETTS SUCCESSFUL WORK
OF ORGANIZATION.
-.-o,rsTRIAI. COMBINATION TO WHICH THE
FREE TRADE POLICY is NO BAR
THE NEW CORPORATION.
my cARIE TO THE TRIBuNE1

FREE TRADE POLICY is NO BAR
THE NEW CORPORATION
lBY CABLE TO THE TWBuNE.l
london. July THE complete success of John
o Rartlett's campaign in the English oilseed
.-ode is convincing proof that Free Trade is no
,sfeguard against the new methods Of Industrial
Consolidation. When ne came to England fve
nonths ago the managers OF the linseed and cot
,onseed crushing mills and refneries were com
,st,ng sharply with one another and adopting
~ measures for self-preservation He has
srswn so per cent of this great trade into an
smalgamated company His plan OF operations
,as been adopted by majority Of the trade,
including all the strongest companies and firms
ue has made contracts with seventeen corpora
lions and firms. and purchased twenty y-eight
mills and twelve oil refineries with plant. busi-
ness and goodwill.
BASIS OF THE NEW CONSOLIDATION.
The British oil and Cake Mills, Limited. has
been organized TO carry into effect the series Of
agreements made by him and his brokers and
N conduct the business for the common advan-
tage Of the majority OF the trade. The share
capital and iebenture stock Of the consolidated
company is '2250.OOO. but f5o00O0 is reserved
FOR futur evelOpment Of the business The
first issue. amounting to fl.750OW, will be Of
fered n the public next week; fl45oW" has AL
ready been underwritten. and the remainder
will probably be covered in a few days
The British oil and Cake Mills, Limited. is an
exact reproduction of similar amaleamations n
America with the single difference in de'ah
that the stock is not watered. There mas oeen
no overcapitalization the goodwill Of each busi-
ness having been purchased on hard cash
basis Of actual dividend earning capacity
MANAGERS OF THE CONCERN.
The strongest companies in London, Hull.
1ivernool. Glasgow, Gloucester and other cen
tres Of the oilseed industry have sold out their
business and property to the consolidated COM
many OF which Hugh Colin Smith and the chief
managers Of the mills and refneries are the di-
rectors The business will be managed FOR the
common benefit by the combined practical
knowledge of the directors Mr.. Bartlett VIII
probably be vice chairman Of the new company.
Lord Vantage and Reginald Abel smith are
trustees for the debentures stockholders
The new company is neither a trust nor
monopoly. but simply one Of many Industrial
amalgamations which are formed here as readl-
" as in America English law sanctions su'h
consultations and they receive the support OF
the greatest financiers. and there is no popular
agitation against them. The promoters or 'he
reorganization Of the oilseed trade have been
Influenced by the increasing severity Of compeu-
lion in the purchase of supplies and the dls'ri-
hutton Of products. and have taken concerted
action 70 secure what they consider a fair trad
ING nroAt The consolidated company VIII De
nowerful enough to control production but the
natural effect Of economies IN the purchase OF
seed the disposal OF products and the improve
men, of plants will be the reduction OF prices
70 the English oil trade.
INDEPENDENT OF AMERICA
While allowing Mr.. Bartlett 10 carry out his
ourn nlan without modification. the British trade
&c acting entirely for itself and Independently OF
snv American trade amagamation. There is
IS vet no concerted action between the traces
~ the two countries. nor any attempt to regu-
late prices by an international trust or corhoi-
NATION Some basis Of common action may ne
arranged in the future. At any rate the COLI
soidated American oilseed trade will nave the
Crranized English trade to deal with hereafter
instead Of an unorganized trade mace UP u
Jealous and suspicious competitors. l. ~ T.
,obr p Rsrtlett is well known in hnanclai ci'
,r this city He is president OF the DIa" -
Teephone and Telegraph Company anu uau-
Nicaragua Company and has offices at NO " van ar
:. NJ par,le,, &c a member Of the Union League
and Lotos clubs. .Aor
NJ Bartlett is p past master in the ra'nTl
nAU profession OF promoting consohdatons' ny Il
Teorgsnzed the commercial business 9l tcana its
car Cotton oil Company in 1921 ana oeJa ~, CON
president Three years afterward ne Iei' Snnonanv
Germ Ia reorganize the Nicaragua Canal Comp",s rs
He also became president Of that, out sUOn sUotabiv
signed 10 look after other new interests "0'""''
the Pegamoid company 49, 49,, p-,,sb oilseed
REGARDING the effect which this Brus.. Uneeed
corsoii5ati0n might have the price OF tttsSDa
and cotton oil in the American market ld1TGHII dGaIy
renorter vas told by a member OF the "Iu7E
49,, ratrt arm Of the r W. Devoe ~ = e.;
Rsynods COMPANY that no mater cogId nST have no
s~Ac, o5 mis- market at all member OF the MN In
q Pratt Lambert No 700 wi sn6 yarrish T'1 trade
bo,b in Fnplond and America, also took thls Nie
q saving that the American 'Sn EnfIisb Ea1I oil into
tnis country and II would only he sucl1aI !o' ~,
English raise the price rud ID q nav IN exporters
here 10 send American lnseed oil over there