Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-02-22
MAKING PROGRESS.
Option Taken on West Virginin Glass
House.
THE COMBINE PROMOTERS MEET
ING WITH ENCOURAGEMENT
RIVERSIDE INCREASES STOCK
FROM TWO TO THREE MILLION
DOLLARS-OTHER INDUSTRIAL
NEWS.

NEWS.
The glass combine, or rather the eff
forts to consolidate the interests of the
country under one head and manage
ment, an outline of the plan having
been given in the Register ten days ago,
is making rapid progress in the work
in this section of the valley. Options
have been taken on a number of plants
and negotiations have been entered up
on with Others Yesterday an option
was taken upon the West Virginia glass
works at Martins Ferry, and at the
price intimated there are good reasons
to believe the plant will at an early
day become members of the new cor
poration. This plant makes fine line
of table goods and the secretary's re-
port for the year ending December 31st
shows it to be one of the most pros
porous in the country. Taken furnace
for furnace it has even shown greater
net earnings than the Crystal. whose
stock recently jumped from $50 par, to
sos and $40. This speaks well for MIR.
A. j. Smith. who has been secretary
and general manager of the concern
since it's reorganization se-lething over
a year ago. The option was given at
meeting Of the board Of directors and
the stockholders, at least majority
OF them are agreeable to the deal.
AS stated in the first forecast of the
plans of the combine, it is calculated
to take into it all the table ware and
tumbler houses including all the plants
of the United States Glass Company
1t does not, however, propose to include
the bottle houses or the window glass
factories. 1t is to be international and
will control the factories of both Cana
da and the United States if consummat-
ed upon the lines originally laid down.
The tumbler people, it is understood,
are more anxious for the consolidation
than the table ware men owing to the
fierce competition going on among the
many producers, but the latter are not
averse to the advantages to accrue
from pooling their interests.
Yesterday evening at 1880 o'clock a
meeting OF the stockholders OF the
Riverside iron works was held in the
companys general Office on Main
stree. This was a special meeting to
consider the proposition to increase the
capital stock from 100000 to $3,00O,-
900, and when the matter was put to
a vote it was carried unanimously. The
increase is based upon the surplus
funds of the company, which is patent
evidence of it's thrifty condition. 1t is
not purposed to put the stock upon the
market, but each share holder will be
ho1 ctOo iTll ic
the most satisfactory way of distri-
buting profits to the owners. A men,
Der of the Board of Directors, when
talked to after the meeting, said the
increase of capital stock had no other
significance than that above stated,
and that no changes or extensions Of
the company's plants are contem-
plated at the present time.
The fate CT the American Potteries
Company will be known this week, says
the East Liverpool Crisis
Manufactures well informed on trust
matters admit there is some question
about the success or failure OF the
trust. All has not been smooth sailing
the past two or three weeks. The East
Liverpool manufacturers have heard
absolutely nothing from the New York
people since the first of last week, and
the majority of them are still COM
pletely in the dark as to the amount
of success the trust people have met
with in securing their stock subscrip
tions.
But the subscription books for trust
stock closed at New York yesterday.
The trust projectors have given the
western manufacturers to understand
pretty definitely that if the stock sub
scriptions do not at the time of clos
ing their books come up to their eX
pectations, and if the stock subscribed
is not sufficient to float the scheme,
they will simply allow the American
Potteries Company to drop
The Wheeling & Lake Erie railroad
has resumed work on the Martins
Ferry extension, and it is said the new
owners will make an effort to get into
all the big plants early in the season.
The objective point at present is the
Aetna-Standard mill, and then the line
will work its way to points further
down the river.
Yesterday a Moundsville gentleman
said the chances for the Fostoria
plant at that place going into the com
bine are imminent, if indeed an option
has not already been secured.
CLOSED LAST NIGHT
Stock Subscriptions May Not BE Sufficien
to Float Project.