The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-01-12
Are Being Rapidly
Transferred.
CENTRAL LOCATION
Of Trust viii Not Be Wor-
CeSter.

General Manager Philip W. Moer
and President William E. Rice of the
Washburn & Moen Manufacturine
Company to whom the stockholders
are invited TO hand in their stock for
the offer of $500 and dividend of s15
presented by the trust, reported yester-
day that the stockholders are fast sell
ing the stock. The stockholders who
own the larger blocks of stock show the
more readiness to enter the plan, white
some OF the smaller ones, whose inter
eS-s are insignificant in comparison are
more reluctant, but realizing that they
nave good thing in $2l5 per share
are submitting with more or less ready
Srace.
Neither OF the gentlemen would state
yesterday What proportion of the stock
mad been handed them, or how long it
would take to complete the final details
OIL the deal Attaches of the Office and
an extra detail Of clerks are at work
on the transfer. which Will proba bly re-
quire 3 week or more.
Inere has been a general discussion as
10 the position that Mr. Moen will have
IN connection with the American Steel
and Iron Company. Mr.. Moen himself
VIII not say whether he is TO be general
director OF the wire industry as OPERA
tu py the trust, or win have the gen.
eIal managership of the plants in the
New England section.
1t has been understood that William
h. Rice president Of the local company.
VIII oe given vice presidency by the
trust or some more active position, il
ne so desires it, as the trust feels that
1t owes him a big debt, as he has work
ed lnde1arigably during the more re-
CEN conferences, to the end that the
W ashburn Il Moen Company should be
&7sorbed b. the trust. He succeeded
IN turning the tide against the con-
unuance of an Independent career out
side of the trust.
As the Washburn& Moen plants them
serves are the best equipped in the
country, and methods employed therein
the most satisfactory in their results,
ana the most economical, there is little
DOUBT felt but that these plants will
be IN full operation. Such has been the
system in force in the manufacture by
Nashburn < Moen, that during the two
Years they have been oGsside of the
trust, they have constantly DEVELOPED
their business in spite of the trust and
When the union of forces came, were
apie 10 dictate their own terms to the
trust. Smaller concerns in this and
other cities may succumb to the cur
tailment Of production or the demands
OF the time. but it is yet to be proved
that the Washburn & Moen plants
proper viii not be run as in the past.
General Manager Moen denied yes
terday that this city was to be the cen
tire OF the industry for the country, and
mat the head office of the trust would
pe mere. MI Moen stated as his reason
lhat there were strong grounds why
Worcester would not be made the head
quarters, but just what those grounds
were whether commercial or other
wise. he would not say. Both Chicago
where the idea Of the iron ana steel
trust first originated, and New York
nave peSn mentioned, with the prefer
ence to New York
Since the formation of the wire trust.
there have been rumors that all copper
WIRE manufacturing industries were to
be included. Mr.. Moen saws officially
that he has no knowledge Of this. but
there STANDS out the fact that he and
other officials Of the Washburn & Meen
company have been in frequent com
nunlcatlon with Wire officials in Chica-
go.
1t has been reported that for two
days the leading copper wire men have
been holding an executive session in
Chlcago, on the question of entering
the trust. 1t Is admitted here that there
was representative Of the trust pres
ent at the meeting, but the official
version Of the meeting is that it was to
discuss insulation and fire protective
mater as concerning copper wire
" h&l the inducements offered to the
copper Wire companies have been, are
Kept secret by the trust, but ii is proo-
able that satisfactory agreement has
Deen reached, so that all wire manu-
l&ctufefs, copper and otherwise. win
appear IN the grand absorption process.