The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-11

of shoes will advance owing to the for
nation of the trust.
One or two other concerns are likely
to be taken in in the near future, but
not many. The firms in the list given
above hold most of the patents of any
value. One other concern holds valu-
able European patents, and 1t is al
most certain that that firm will be in
vited to Join for the sake of insuring
the control of the foreign market. AS
the Mckay company alone sent to Eu-
rope on an average of one machine a
day last year, it is felt that the Euro
pean field is growing too important to
disregard. But the directors are disin-
clined to share the benefits of their
organization with any concern that
will not add appreciable strength. They
feel themselves strong enough to dis
regard small manufacturers. The di-
rectors claim none of their stock Is
watered, as has been the case with
several other recent organizations.
A remarkable feature about the COM
bination was the remarkable dispatch
and secrecy with which it was con-
summated. Until yesterday not man
in the trade outside of the principals
involved knew of the deal. Just as
they began vaguely to suspect some
thing was happening it was announced
tails were arranged within the last
week, and for quickness Of formation
this trust is undoubtedly record
breaker S. w. Winslow, of the Good
year Shoe Machinery Company, and
the Union Lasting Company, was the
prime mover. He had his first CONFER
enee with Mr.. Clarke only a week ago
Tuesday. Evidently all the prlnclpa ;
interested We're in accord from the nrst
hf1f a few conferences
to arrange all the details OF the per-
manent organization.
j. ii. Clarke when visited by Spy
reporter last evening, was evlqently
much pleased with the turn things had
taken. THE news of the combination
is now public property, and l am Will
ing to tell all l know about the mat
ter" he said. = think no better ar
rangement could have been made for
our stockholders, under the circum-
stances. In some respects, l should
have preferred to have the deal come
year hence rather than now, but per-
haps it is better now. We certainly
have no cause for complaint when we
are enabled to sell out our S5,00o,00O
worth of stock at rate considerably
above par
1.-THE people of Worcester are Of
course vitally concerned In this trans
fer But I do not think they suffi-
GENTLY realize what an immense bust
ness we have. If i should tell them
our business is larger than that OF
Washburn & Moen, they would hardly
believe me. But our capitalization
was s5,OO0,000, and we paid a dividend
of per cent on that amount. How
many other firms, ] should like to
know, pay per cent on that amount.
We have one mill in Maine. another in
Winchester. and still another in Vir-
GINA We manufacture nearly every
kind of machinery needed in the shoe
trade.
'aThe deal was concluded late Thurs
day night. Nearly all the principals
interested were in attendance. / was
greatly struck with their appearance.
They seemed to me to be as intelligent
and intellectual set of men as l ever
saw. There was not dude among
them. They were representative bust
ness men. One has only to glance
down our list of officers and directors
to see that it includes the leading men
in their line in America. The venture
can be no failure when controlled by
such men,
After paying all the properties, it has
absorbed, the new company will have
In the treasury 100000 cash, $50, 900
shares of preferred stock and 100000
of common.