Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-29
10 COMBINE COTToN-MILLs.
Messrs Thomas Branch * Co. said To
BE Largely Interested.


According to this weeks Manufacturer
Record, published in Baltimore, the
scheme looking to combining the cotton
mills OF the South has assumed tangible
form in the organization of a syndicate
with unlimited capital.
The announcement partakes Of special
interest in Richmond, because OF the
statement that Messrs. Thomas Branch
& Co., Of this city, are largely interested
in the undertaking. This is borne out
by New York dispatches
The Record says a syndicate has been
formed IN New YORK composed Of SONS
Of the leading capitalists and bankers of
that city, in connection with leading
southern bankers, 70 purchase and COM
bne large number OF southern cotton
mills The syndicate proposes TO pur-
chdsa outright and pay cash for good
southern cotton mills, then 10 combine
them with a view 10 developing their tfade
10 the utmost, giving special attention
to the uplifting Of the export business.
RICHMOND FIRMS INTEREST
The Record continues: Messrs. Thomas
Branch q Co., bankers. OF Richmond,
have for some time been securing options
on d large number OF leading southern
mills, and they have now made a contract
with Mr.. Charles Il. Flint, Of New YORK,
and his associates, representing the
heaviest financial Interests of that city,
who have agreed TO furnish all the capt.
tai needed for this undertaking. This
contract provides that the option snail
be deposited with one OF the largest and
strongest trust companies in New YORK.
The syndicate has agreed that II VIII pay
all cash for The stock of such mills as
are taken. The wealth and business con-
nections Of Branch x Co., who represent
the southern end of the WORK, and the
wealth and position OF Mr. FLINT and
his New York associates, IL IS SAKE 10 saw
insure success. even should the under
taking eventually repres emit No,VJ0tJJ ~
101O000o of capital. as Is now expected"
Air. John p. Branch and his two sons,
who constitute the firm of Thomas Branch
4 Co. are AN in New York. and very
little definite information could be CLEAN
eo hore tI.l.ht bearing on the relation
of this firm to the combination. Gentle
men familiar with the affairs of the con-
Germ said they had never heard anything
of the Richmond house being in the deai.
4 prominent hnancier said he knew MT.
Thomas Branch. OF Augusta, Ga, mad
long had such a scheme as this in con-
templation. a special TO the Dispatth
from Augusta confirms the Record story
and saws the Richmond firm Is at the head
of the deal. but that the Augusta mouse
az the same name is largely interested.
The special adds that the movement
looks mainly to acquiring print-cloth
mills.
POSSIBLY PART OF GREEN PLAN.
This latter view is borne out by the
foll,,-inee New York dispatch received
last night
The Tribune tomorrow will say:
Much uncertainty prevails as 10 lhe
prospect for the combination OF pI!hl-
cloth mills Two OF the three syndftale7'
which within the last few months nave
bet, enda4yorlug to effect q consolldd-
lion OF the New England mills nave
abandoned NEGOTIATIONS, but the lAlrl'
raure~entcd by Nelson g. Green OF lAl7
city. is stin, in the field. .,, ,.,.,
The New England mill-owneIs haSe
within the last few days renewed tne
nrice agreement for the sale OF thelf
output but this agreement. -Which Us
usually for six months, Us 'nla I'm ~
run only to January lsti on Whlci udtc'
II is said, Air. Green's options become
~ IL understood that the plans OF the
Green syndicate contemplate ihe lorin9-
tiou of a great corporation WIN "a cdPl-
tai apprOXimating SZWtW"1, 10 tIIioial
all inc DiiuN-Ni't+i -i4'--- "
Thomas Rrarch & CO., bankers, Of
pjchrond Va. who have secured options
~, q large number OF important southern
LIE have lust made a contract with a
i',n'i syndicate. headed by Charles X.
T'Iint vyborebv the syndicate will furnish
IN The capitaf necessary for the purchase
o. tbe mills. and the consolidation INTO
a company with a capital OF perhaps
y, VS. rumored yesterday that this
might prove 10 be only part
~ Inc general combination plan Win
y.hich Mir Green's name has heretofore
been as5Oclated. .
is A GREAT INDUSTRY
gram such Information as the Manu-
f,c,urers Record has gathered, this Wal
ronresent one Of the largest industrial
l,,iorstions Organized I'm the country, ana
~. Car the largest ever undertaken IN
70 So,th. such a combination While IN
Wv ~ interfering with independent
III those stockholders do not care 10
In win have sufficient capital TO push
~ industry to the utmost extent ana
80 ,,steriallv aid in making the Soulh
tsl,e lis rightril place in the teXule man
,,footuring interests of the Worla. IL IS
'',dar,tool that the mills will, in most
-, nrobably be run by the same men
- nov control them, but by operating
rndar one general management theie
v,ilI he = great decrease in the cost Oh
and marketing goods
Nv mills viii, n is said, be buiit.