New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-08-26
COTTON DUCK CONSOLIDATION

DETAILS OF THE FORMATION OF THE WOOD
BERRY-MoUNT VERNON CORPORATION.
Baltimore Aug 2j-The cotton duck consoda-
ton, which is of the most important industrial
combinations of the South, has been completed. and
the fourteen mills acquired are in the hands
of the Continental Trust Company. of this city.
syndicate manager, awaiting their transfer TO the
Mount Vernon Woodberry Cotton Duck Company
which has been incorporated under the laws of the
State of Delaware. the permanent organization OF
which will be completed within the next few days
when the properties will be taken over by that
company.
The total capitalization of the company is
s2S,5OO,O0o. follows: First mortgage per cent
fifty year gold bonds (of which 81, GO is to be
reserved in the treasury for the purposes Of the
company $OOOOO0 per cent cumulative income
bonds 100000; stock $4,000 Payment for the
properties began Tuesday at the Continental Trust
Company, settlement for the last two mills having
been arranged by the Continental Trust Company
| to take place to-day in NewYork at Messrs Yer
| milye & Co.'S banking house.
The properties acquired by the company
| the following Mount Vernon Company four mills
| No. l. No 9 and No C'Druid). Baltimore and
| Phoenix. Baltimore County. Md; Woodbury. Manu-
| featuring Company civilian f. Hooper e. Sons)
| five mills Woodbury., Clipper, Meadow. Park and
| Mount Washington Baltimore; Laurel and Frank
| linville mills. Maryland: Tallassee Falls Manu-
|
| Company. New-Hartford, Conn.,, and Columbia
| Mills Company, Columbia. S. c.
The brands or trade marks controlled by the
| new company Mount Vernon" "Woodberry,"
| Druid" "Ontaria," "Arista," "Greenwoods" Co
| lumbia" "Franknvllle" and Laurel" The Mount
| Vernon and Woodberry brands have been in ex-
istence considerably over fifty years. and have a
| worldwide reputation. The mills consolidated
manufacture over 80 cent of all the cotton duck
! made in the United States.
S. Davies Warfeld, president OF the Continental
Trust Company, who conducted the negotiations and
who mainly instrumental in bringing about the
consolidation. when asked tonight to the policy
| OF the company, stated that there no dis
| position the part Of the mill owners to make an
| advance in the price OF cotton duck: the saving
| gained from various by uniting these in
| terests, he said, satisfactory and II would
therefore be the policy OF the company TO give the
| consumer all benefits possible through consoda-
| ton
| 1T is generally conceded" said Mr.. Warfed,
| that Richard Cromwell president Of the Mount
| Vernon Company, will be the president of the new
| corporation The affairs of the new company Will
| be managed by board of directors Of twenty, on
| which will be the leading cotton duck manufactu-
| rers and late owners of the absorbed properties
There will also be three vice-presidents and n sec
| rotary and treasurer and an Executive Committee
| OF FIVE. The Board Of Management has not all been
| made up and will not be announced until after the
| permanent organization has been effected, which
| will probably be by the middle OF the coming week