The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-10-12
Big SHOE COMBINE.
Would Control the
Markets Of the
World.
REACHING FOR LOCAL FIRMS.
1t viii Have a Working
Capital Of Over 49,
100000.
REACHING FOR LOCAL FIRMS.

New York, Oct 1.-THE incorporation
of the Standard Shoe Machinery Com
pany marks the practical completion OF
a deal for the consolidation of a number
of shoe machinery concerns not includ-
ed in the United Shoe Machinery Com
pany, organized earlier in the year
The properties included are stated and
described on the preliminary prospect
us of the company in part as follows:
THE Woodward Manufacturing Com
pany, including it's patented machines
for heel work, consisting of heel loader,
heel attacher, slugger and patent
rough head collar clinch steel nail. The
Bay State Shoe Machinery Company,
including its patented machines. con-
sisting of welt and turn machine, lock-
stitch stitcher, welt beaten, welt ski
yer, bebbin winder, welt beveller and
grower, rough rounder and stitch in
denting machines; also, sole-laying and
sole-levelling machines. The Shining
Lasting Machine Company, including
its patented lasting machine; also, pat
EulSd III Ell5 puALCll > pdlG1lS lOI
a spring heel machine and for heel
breasting machine. McDowelPs pat
ents for heel and sole trimming ma
chine"
The $4,000, 600 capital is divided into
$2,000,000 I per cent cumulative pre-
ferred stock, preferred as to assets as
well as dividends, and 100000 COM
mon stock, OF which 100000 preferred
stock and a similar amount of common
Stock are to be retained in the treasury
Of the company for the acquisition Of
additional facilities, or for other corpor-
ate purposes, while the balance, $780,
600 of preferred and $2,500,000 of COM
mon stock are to be used for payment
to the vendors and to provide a work.
ing capital and to cover expenses Incl
dent to the formation of the company.
The Woodward company. it is stated,
was secured by the combine in compe-
tition with the United Shoe Machinery
Company the latter having been out
bid. The profits from royalties and
other sources are estimated in the pro-
spectus as follows: Woodward system,
So, 600, Bay State, $3.50 900; lasting ma
chimes, SAC, 000; smuggling and mEscella-
neous machines, $S5, 900; total, s275, 900.
The directors will include F. B.
Beecher Of the Diamond Match Com
pany, Westville, Conn; B. F. Spinney
of B. F. Spinney & Co., shoe manufac-
turers, Norway, Me-, also of Faunce &
Spinney, shoe manufacturers, Lynn,
and president National Security bank
of Lynn; J. N. Smith, retired shoe man
ufacturer and capitalist, Lynn; w B.
Hosmer, president Bay State Shoe Ma
chinery Company, Boston; H. E. Both
field, treasurer Woodward Manufactur-
ing Company, Boston; Thomas G.
Plant, president Thomas G. Plant Com
pany, shoe manufacturers, Roxbury
Crossing station, Boston; w. w. Spaul-
ding of w. w. Spaulding & Co., shoe
manufacturers, Haverhill: ]. Stuart
Rusk of Gilman & Rusk, lawyers, Bos-
ton: R. F. Spencer Of Hamilton Brown
Shoe Company st. Louis, Mo-; Eiihu
Thomson, General Electric Company,
Swampscott; F. w. Curtis of Curtis,
Jones & Co., shoe manufacturers, Read
ing, Pa; E. P. Reed of E. P Reed &
Co., shoe manufacturers, Rochester, N.
Y; F. C. Pingree of Pingree & Smith,
shoe manufacturers, Detroit, Mich.
Beginning at Boston, the promoters
are gradually moving westward
Throughout the state to prevent the
other Independent companies from fall
ing into the hands of a rival combine
which has been threatened.
The Bay State Shoe company is al
ready in, and options are fast being
secured.
No answer has yet been given by the
Worcester firms. 1t is understood that
efforts are being made to reach the
following: Goodyear Shoe Machinery
company, 1913 Front street; Bay State
Shoe & Leather company 6S High
street; Haywood Boot & Shoe company
Il Winter street; C. s. Goddard & Sons,
so Austin street; David Cummings
Shoe company, 60 King st.
THE CHICAGO MARKET.