Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-11-17

WILLIAM II. GRlEFIIH, OF
WASHINGTON, PA, TELLS THE
INDUSTRIAL COMMISSION OF
THE OVER CAPITALIZATION OF
THE TRUST - TRUST STOCK
HOLDERS AND WORKMEN NOT
SO WELL PLEASED WITH THE
OUTLOOK.
WASHINGTON, November 16.-Mr.
VIM. H. Griffith, a tin-plate maker of
Washington, Pa, was before the In
dustrial Commission to-day. He told
the commission that his company,
which has since disposed Of its plant,
cleared 20 per cent in profit last year,
when the price Of tin was $3.50 per box,
the lowest ever known for plate. He
also said that just previous to the pas
sage of the Mckinley bill and for a
year or SO afterwards, when the price
was $3.50, the profit was fully 100 per
cent. He said that while his company
had sold its plant to the trust, the tram
saction 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 con-
solidation was necessary to prevent
competition and there had been a fear
that if they did not go into the pool
their business would be injured He
had not accepted this opinion and con-
sequently was preparing as rapidly as
possible to re-enter the field. Nor did
he accept the view that a large COM
bination 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 secur-
ing machinery, the American company
having control of the makers of tin
plate machinery as well as of the man
ufacture of plate itself. In substantial
ton of this statement, he said that a
manufactuflng~co company which had en-
tered into an agreement with him to
supply him for five years had already
refused to fill an order after an Off
cial of the trust had become a large
owner of the stock of that company.
The restriction, he said, also extended
to the Independent manufacturers of
sheet iron, the American company re-
fusing to sell to them except upon the
stipulation that they should not sell
their product to the makers of tin plate.
Furthermore, the combination refus-
ed to supply jobbers and others with
their especial brands except upon con-
dition that they assign their brands to
the trust. There was a similar restric-
ton upon black plate and half the dip
pers" in the country had been forced
out of business.
the different plants in the trust were
growing restless under these restric-
lions, as they were not running so
steadily as before the combination was
effected. OF the 272 mills in the COM
bine, eighty had been closed.
Mr.. Griffith said that since the trust
had been organized prices Of tin plate
had advanced from $3.50 to $4.65 per
hundred. This advance was out of pro-
portion to the advance in wages and
raw material. He made a calculation
to show that 1884 would be profit
able price under present condh ion.
However, he said that notwithstanding
this advance in prices he had reason to
believe some of the members of the
combination were woefully disappoint-
ed in the results. He also understood
that the employees in the trust mills
were becoming apprehensive, which
he thought was illustrated by the fact
that of the 500 rollers employed by the
combination, no fewer than $50 had
made application to him for places in
his establishment.
Mr.. Griffith said that while the Amer
lean company was capitalized for $780,
100000, the plants comprising the COM
blnation could have been bought at the
time the combination was effected for
100000. He therefore considered
the company over-capitalized. He had
understood that the promoters OF the
combination had received $4,000, 900 in
common stock for their services. The
standard price paid for mills in form
ing the trust was $4,000 each. His
own company had received an advance
Of Is per cent upon 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 ex-
istence.
Mr.. II. F. Going, a tin can manufact-
urer, who was for several years also en-
gagged in the canning OF fruits in Bal
timore, said that in recent years, there
had been much complaint among can