The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-04-13
ANOTHER COMBINE
A Big: New England
Consolidation Is
"a Now On.
0..
EYE ON WORCESTER.
Bowler Bros. and Worces-
ter Brewery May
Unite.

nuEllDer OF DfeWefleS IN Boston art
forming a combination and have APP
piled for a charter under the laws Of
New Jersey. This combination is sale
to comprise so per cent of the output
of the Boston breweries.
1t is claimed that options have beer
given on some of the strongest brew
cries in New England and that the
consolidation when it takes place will
be financed on conservative lines by
one of the strongest houses in Boston,
so as to insure the sale of the securi-
ties at a premium.
Boston parties have an eye on the
Bowler Brothers brewery and the
Worcester Brewing Company. AS has
been already stated in The Spy, nego-
tiations are already pending for the
Bowler Brothers brewery, and the pa
pers consummating the sale may be
passed within 10 days.
The price is not yet agreed upon, but
it is intimated that the BoWlers are
asking about a million and a half for
their plant, and as 1t is capitalized tol
$1,000,000, it is understood that they
want that figure at least or more.
The Boston promoters have practi-
cally abandoned the project of getting
the Worcester Brewing Company, that
was recently sold at public auction tC
r. c. Taylor. 1t is well known here
that Mr.. Taylor simply acted as agent
for Worcester parties who are to run
the brewery.
1t is an open secret however
that F. E. Reed, of the firm of f. e
Reed Company, manufacturers of ma
chine tools, is one of the principals in
the new firm that will operate the
Worcester Brewing Company's plant
Mr. Reed holds a second mortgage for
100000 on the plant, and to save the
money he and others have invested in
that mortgage; he will be one of the
principal stockholders in the new COM
pany. The plan of the new men is to
capitalize the new concern for $250,OOO
al least.
The company will issue preferred and
common stock bearing interest at the
rate of and 8 per cent, respectively.
The new company will also issue
bonds to the amount of $150,000, and
these. it is expected, will sell at par
or above, because the conservative in
terests that are to be back of the plant,
and its financial backing at the outset
will be sufficient guarantee that the
DOlluS VIII never De utldu1lCu anu llicAN
the brewery will be a success tinan-
cially.
The new men are to put about
$12OO00 fresh capital into the plant and
before April 49, which is the time that
application must be made for the
brewery's license, if business is to con-
tinue after the first of May.
1t is stated, however, that neither
Mr.. Waite of the First National Bank
m i mil 11nN ~
any financial interest in the new COM
pany. The claim Of the second mort
gage will be contested in the courts.
Alexander Bowler claims there is no
truth in the report; that they are con
Quoting no negotiations for the sale Of
their plant and that they do not pro-
pose to enter any trust Or combine.
AS regards the Worcester Brewing
Company. those who are going 10 run
II afte,, Nav n, nerhaus before that
time. have nothing to say.
Albert H Waite, president OF the
First National Bank. who is simply
trustee Of certain funds connected
with the brewery. viii have nothing
70 do with its future management
He has been appointed by the court
as trustee. and when the courts relieve
him of his responsibility in connection
with the Worcester Brewing Company
he Iii ~ ,,ntb{ng- furfheT to do wish
If I'm a financial or other way.
Things are sbaping themselves rap
idlv IN connection with the insolvent
brewery. however, and inside of week
the financial and other arrangements
win be completed and Worcester par
ties exclusively will run and control nc
brewery The old stockholders by the
sale of the brewery plant under d
mortgage, have been wiped out. TheiI