The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-01-29
New Thread Concern
Buys One
ON GOLD STREET.
Active Operations Expec-
ted By March l.

The Wachusett Thread Company,
which is soon to start up in opposition
to the thread trust and whose forma-
ton was announced exclusively in
yesterdays Spy, has secured a factory
at 116 Gold street. The building form
erly occupied by the Worcester Steam
Heating Company, has been rented for
Wood Dyeing Company.
The building will be completely over
hauled and reconstructed to accommo-
date the new machinery and fixtures
necessary for the thread plant. Orders
are being placed for all the necessary
machinery as rapidly as possibly, and
by March 1 it is thought the whole
plant will be in active operation. 1t
may take longer than that to set up
the machinery and to hire the $50 men
and women that will be employed
there, but all the preliminary arrange
mentS have gone on so smoothly and
with so little friction that no serious
delay is anticipated.
| A 60-horse power engine was pur-
chased yesterday of Henry Parsons of
| Westboro to furnish power for the
new concern. Peter Wood spent the
whole day in Westboro, concluding the
purchase. The engine will be moved
to Worcester Immediately and set in
the factory on Gold street.
| When seen at his home on Cam
| bridge street after his return from
! Westboro last evening, Mr. Wood con-
firmed The Spy's story i'll every partic-
ular. Everything now Indicates that
the new company will be engaged in
active production within very few
days." he said. THE orders for ma
chinery are about Ill placed. and all
the preliminary steps taken. l feel that
the field for another thread industry in
4 Worcester is an excellent one. OF
course the position OF the company is a
/ little uncertain until they know for a
certainty whether the thread trust will
prove as strong as Its promoters have
! claimed.
AT present 10 mills are listed as be-
longing to the American Thread Com
pany. But in several cases the deal is
far from being consummated. The Rud-
dy Thread Company, for instance, has
not signed the final papers binding it
as a member of the trust, although
Mrs. Rudy announces her intention of
going in.
When a few more facts with refer
ence to the trust are better known, the
| Wachusett Thread Company can make
known more of its plans than would
be wise at present"
The American Thread Company was
founded primarily to do away with the
cutting of rates in thread manufacture
II the trust manages to control the in
dustry, it can virtually dictate the
price of thread. But if a new concern
creeps in and sells it's product at a rate
slightly under that of the trust pro-
duct it would quickly have all the
business it could attend to. In order
to protect their interests, the trust
would have to buy out the new com
pany at very favorable terms
Possibly that is what the Wachusett
Company is aiming at In case this
is not absorbed by the trust, it is plain
that few strong outside companies
could speedily bring prices down tc
their former level.
AS stated in yesterdays paper, the
majority of stock in the Wachusetl
company is held in this city Charles
j. OHara is president The COM
pany is said to control several valuable
processes in thread manufacture, and
is therefore formidable rival.
! In regard to the plan of operation of
the American. Thread company, Mrs
Robert Rudy, who controls the Rudy
eiAiSeeu WOIHS Ill this city, SAID yeSter-
Gay afternoon that nothing further
had been learned. She, herself, was as
anxious as any one to know the devel-
opments She said that she supposed
that her concern was a member of the
American company, but the final nego-
tlauons in the transfer have not as yet
been made, so that the exact operations
OF the local concern in the future are
not yet mapped out.
1 The American Thread company itself
elected it's officers some time since, and
1t is expected that the final announce
ments as 30 the future of the Worces-
ter member of the company will be
made next week From the fact that
the BUDDY company has thrived
through the excellent management and
judgment of Mrs. Rudy, it is thought
that she will be retained by the trust
as manager here.
Mrs. Rudy was asked about the riva
thread company in this city, which has
been recently formed, but she did moi
care to say anything as to whether il
would have any appreciate effect upor
her concern or not.