The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-11-17
BIG PROFITS IN TIN.
Reached 20 Per Cent When Prices
Were Lowest

Washington, Nov. 17.-Mr. William H.
Griffith, a tin plate maker of Washing
ton, Pa, testifying before the industrial
commission, told the commission that
his company, which has since disposed
of it's plant, cleared 20 per cent in profit
last year when the price of tin was 81. go
per box, the lowest ever known for the
to the passage of the Mckinley bill and
for a year or so afterwards, when the
price was $3.50, the profit was fully 100
per cent. He said that While his COM
pany had sold its plant to the trust the
transaction had been without his sane
tion and that he had since undertaken
the establishment Of an independent
plant. also located at Washington, Pa,
which he soon would have in operation.
The sale of the old plant had been
made under the representation that the
consolidation was necessary to prevent
competition and there had been a fear
that if they did not go into q pool their
business would be injured. He had not
accepted this opinion and consequently
was preparing as rapidly as possible to
Fe-enter the field. Nor did he accept
the view that a large combination had
any advantage over an individual, but
believed the advantage was rather with
the individual
In re-establishing himself he had
found that he was hampered in secur-
ing machinery, the American company
having control of the makers of the tin
plate machinery, as well as of the
manufacture of plate itself In sub
stantiatiorf of this statement, he said
that a manufacturing company, which
had entered INTO an agreement with
him to supply him for five years had
already refused to I'LL orders after an
official of the trust had become a large
owner of the stock of that company.
The restriction, he said, also extended
to the independent manufacturers of
sheet iron. the American company re
fusing to sell to them, except upon the
stipulation that they should not sell
their product to the makers of tin plate
Furthermore, the combination refused
to supply jObberS and others with their
especial brands except upon conditions
that they assign their brands to the
trust. There was a similar restriction
upon the block plate and half the
''dipperS' in the country had been fore
ed out of the business. He thought the
managers of some of the different
plants in the trust were growing rest
less under these restrictions, as they
were not running nearly so steadily as
before the combination was affected.
OF the 272 mills in the combine, so had
been closed.
Mr.. Grimth said that since the trust
had been organized prices of tin plate
had advanced from $3.50 to $4.65 per
hundred. This advance was out of pro-
portion to the advance in wages and
raw material. He made a calculation
to show that $3S 81 would be a profitable
price under present conditions How
ever, he said that Notwithstanding this
advance in prices he had reason to be-
lieVe some of the members of the COM
binatiOn were Woefully disappointed in
the results. He also understood that
the employees in the trust mills We're
becoming apprehensive, which he
thought was illustrated by the fact
that of the 800 rollers employed by the
combination no eser than $50 had
made application for places in his estab-
liShment.
Mr.. Griffith said that while the Amer
lean company was capitalized for $780,
100000, the plants comprising the COM
binatiOn could have been bought at the
time the combination was effected for
$12, 900 900. He therefore considered the
company over capitalized. He had un-
derstOOd that the promoters of the COM
binat ton had received $40 900, 600 in COM
mon stock for their services. The stan
dard price paid for mills in forming
the trust was $40 900 each His own
company had received an advance of
% per cent upon cash valuation.
The witness said he considered the
tariff essential to the protection of the
tin plate industry in this country, but
he would not say that so high a tariff
as the present was necessary to its eX-
istence.
Mr.. H. F Going, a tin can manufac-
tUrer, who was for several years en-
gagged in canning fruits in Baltimore,
said that in recent years there had been
much complaint among Gamers on ac-
count of the thinneSs of the tin coat
ing of cans and this had been especial
ly noticeable since the organization of
the tin plate trust. Previous to this
regarded as superior to the Welsh ar
al