New-York tribune., 1899-07-20
BICYCLE MAKERS HAPPY.
THEY THINK COMBINATION WILL HELP
THEIR BUSINESS.
WHAT COLONEL POPE SAYS ABOUT THE TRUST
NO DIFFICULTY IN DIsPosING OF
THE rocK-REoRGANIzATIoN
NOT NECESSARY.

NOT NECESSARY.
The bicycle manufacturers and bankers VINO are
| interested in the American Bicycle Company were
in consultation at the WaldorfAstoria most OF the
time yesterday and extra session was held last
night. There are many details to be arranged yet.
and the chances that some OF the makers OF
the popular little machines will remain In the city
for several days more. Much Of the time yesterday
was taken up with signing agreements ana IN dis-
cussng questions pertaining to the combination
with notares and counsel.
The manufacturers without exception were well
pleased with the happy ending OF the negotiations.
They are unanimous In saying that there mas not
been anv reorean nizatIon in any sense and that the
only change made in the original suggestion was
the decrease OF the capitalization to $oVovo
Papers were signed yesterday. and the delegates
say that is scarcely any chance or hitch III
the arrangements The selection OF officers VIII not
be made for several days The manufacturers nave
taken a formal ballot on the presidency, ana inc
vote showed an almost unanimous desire on the
part of the makers that A. g. Spalding should De
the man When the time comes the bankers VIII
choose Board Of Directors, and this Board VIII Sc
lect the officers Of the company Tor the coming
year The company will have nothing to do with
automobiles.
Colonel Albert A. Pope, OF Boston, the pioneer
bicycle manufacturer of the country, was found at
the Engineers Club in Fifth-ave. last night The
Colonel seemed at first disincned to discuss the
newly formed bicycle combination. but he finally
said: go ahead young man, and l Will answer
your questions If can"
What effect will the organization OF the COM
pany have upon priccs?' asked.
II do not see that 1t will have any perceptible
effect at all do not think that It will raise the
prices and do not believe that 1t will lower them
replied the Colonel.
"Do you consider the move a wise one from a
business point Of view?"
he apdT I
entirely satisfied with Most. II not all. of the
stock will be taken by the manufacturers them
selves, and 1t promises to be good paying invest
ment shall certainly take all entitled TO
the present conservative capitalization. | con-
slider that 1t will be of the most profitable
stocks Of any OF the ndustrlals. Whether or not
the stock will be listed the Stock Exchange
cannot tell 1t may not be the intention to do so
present. but there is nothing to prevent some Of
those who purchase stock from selling It,. Auto
What viii be the direct effect upon the trade?"
1t Will do great deal for the industry as
ers. but the company ought practically to control
the output OF this country 1t ought In addition, 70
have an excellent effect upon foreign trade While
our export business is excellent. the new condi-
tions ought to help US still further The lormatoh
ton. and left over wheels at the end OF season
will snS sf Gf Gfriiy o dealers are and to
think that the consummation OF the deal will put
them out Of business. Is that so 2" 49,.
NO ROO1 bearers neeu WITTY lHcih9ci''o
the situation We shall have the same use for
them in the future that we have had in the past;
A. G. Spaldng retired from the conference at the
Waldorf Astoria yesterday early In the afternoon
to get needed rest ]. Walter Spalding. when seen
said: There has been change whatever In the
consummation OF the company, except the cnange
in the capitalization to so 10000 It was A; e.
Spaldings idea from the first. and there has been
cause II was not necessary. All OF the plans have
been carried out originally contemplated by him.
and the matter to-day is progressing finely.
facturers was as well pleased with the close OF
the deal as apparently all OF the other manu-
facturers. When at the hotel last night ne
said that he glad 1t was al over, for the
preliminaries necessary TO bring about success
carried out on the original lines and It IS one
the best things that could have happened to the
industry. There will be trouble In dsposing
of the stock. Most of 1t will be taken up by the
manufacturers.