The times. [volume] (Richmond, Va.) 1890-1903, 1899-08-26
viii Be Completed in a Few Days
and Property Turned Over.
NINETY PER CENT. OF ALL DUCK
Made i'm the Unitcd States Is Manu-
factured 10y These Mills-Tbey say
They VIII Not Raise Prices, a.
the Savings in Other Ways
VIII Make such Course
Unnecessary.

BALTIMORE AUS. 25.-The cotton con-
soldation. which s one OF the most inn
pouant industrial combinations Il tie
South. has been completed and the iour.
teen mills acquired are now m the hands
OF The Continental Trust Company OF this
city. the syndicate manlger awaiting
their transfer tl tle Mt. Nernon-Wood-
bury Cotton Duck Company. which has
been inc0r grated under the laws of tho
state of Delaware. the permanent orglni-
cation of which VIII Dee completed with
in the next few days when the properties
viii be taken over by that company.
THEIR CAPITAL.
The total capitalization of The new com
pany Is S-l11n0 as follows.
First m0rfgase pDr cent nfty-year
gold bonds COZ which sioo0.0o0 is to be- re-
served I'm the treasury for tho purposes
OF the company 100000 6 per cent. ac-
cumulative income bonds $500 oo. stock
s95ooooo Payment for the properties be-
gan Tuesday a. the Continental Trust
Company Settlement for the last two
mills having been arranged by The Con
tncntal Trust Company to take place to-
dag in New York 40 Messrs. Yermyic ana
Company banking house
THE MILLS ACQUIRED.
Tho properties acquired by tho new
company are as follows. MI Vernon
Company four mills. nos. L. and
DruiO. Baltimore and Phoenix" Bal
tlmore county. Maryland; Woodbury. Nan.
uflcturing Company (Wnlau A. Hooper
* S1u~j. live mills Woodbury. "Cip-
per-" Meadow" park ana Mt Wash
ngt0n." Baltimore. Maryhnd: Laurelvillo
and Frsak'lu Mills. Maryland; Talassee
Falls Manufacturing Company Tai'as-
see. Alabama. Groenw0Ods Company.
New Hartford, Conn; Columbia Mills
Company. Columbia. S. g. Tho brands or
trade marks controlled by the new COM
pany are. "Ait. Vernon Woodbury.
"Druld." "Onfa-fa." "Arlsta." Green
woods" Columbia" "FmnMinville" and
Laurel"
THE NJ. Vernon and Woodbury. brands
have been in existence considerably over Sd
years and have worldwide reputation.
The mills consolidated manufacture over
eo per cont OF au the cotton duck man
uflcurel in the United sntes.
WILL NOT RAISE PRICES
Mr. S. Day. Wirde'd president ~ tho
Continental Trust Company who con-
ductod the negotiations. ana who was
mainly Instrumental iu bringing ABOUT iie
cosolldauon. when asked tonight 1s to
the policy of the new company stated
that there WINS no disposition on the
part Of tho mill owners to make 1n nd-
vance in che price OF cotton duck Tire
saving gained from various sources oy
uniting these intsrests he said WAS s'f'f-
factory. and @ would. therefore Dee the
uolicy of the now company to eiTo ihe
consumer au benefits possible through
the consolidation.
THE MANAGEMENT
"It is generally conceded said Mr.
Warde,d "that Mr Richard Cromwell
president OF tho NJ Vernon Company viii
ho the president OF tho corporation. Th'
affairs Of the new company win he man
agod by "a board off directors of twenty.
on which win he the lending cotton duck
manufacturers and late owners of th'
absorbed properties.
There wlu also De- three vice mro .d 1'H
ana Il secretary and troasurtr and 900
executive committee 0f hve The board
of management has NOT a'l boon mode np
and w.U not be announced until after fhe
permanent organization has been Effected
which will Hkcly Be By tho middle OF the
coming week"