Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-03-06
A WOODEN COMBINE.
Meeting Of Maine Manufac.
turers at WaterviIle.
Plan Outlined for Consolidation Of In
terests in New England. !.
The Cotton CurtaiIment and Pooling agree
ment Closely Followed.

pos,or March 5.-(SpeciaD.-Tne
,,.n,.n manufacturers of New England
are engaged in the consideration Oh d
nlan whereby it is hoped that the pres
ont unsatisfactory condition OF the
,,orkat can be remedied. While most
Of the mills are on paying basis, the
dividends paid by many OF them are
on small as to be unsatisfactory 10 lne
stockholders.
plan which was proposed by
number of manufacturers who held
conference at Waterville. few days
ago. at which several Of the most
nrominent wooden manufacturers III
Maine were present. has aroused con'
siderable interest among manulactul-
ers in other centres. and 1t Is propap'e'
that the proposed action Will De ap,
proved by nearly all the prlhcipai
manufacturers Of wooden goods IN Nc"
England, as well as many IN Ne"
York state.
The plan as proposed il to form an
association which. while in IS not i"-
tended as a trust. would anord H'ean'
Of regulating prices as we'll as the out-
mt of the mills which are parties u
the combination.
This plan is something on the same
line as that which was entered INTO ny
the cotton manufacturers at Fall River
last fall. known as the "curtailmeht
and pooling agreement" which was
the main factor in bringing about the
recent restoration of 10 per cent. cpt
down. made more than year ago, III
nearly all cotton mills in New Eng
land.
The market for finished cotton goods
previous to the inception OF the cur
tailment agreement was in mucn more
serious condition than is that for wool
en- goods at the present time. All the
larger companies had on hand an i'm
mense surplus stock, the proouctioh
was in excess of the demand. ana
every day the mills were run tenoed
to make the situation more critical.
The price of finished goods dropped be-
low two cents, and the manufacture
was carried on at loss.
The curtailment plan finally was
contaminated as the only remedy. IL
has proved most satisfactory. the glut
in the market has been relieved. the
market steadily growing stronger I'M
til an increase of nearly l cent per
ward has been recorded, and. finally
only a few days ago. an increase OF
1917 per cent. in wages has been grant
ed to nearly 100000 mill workers in
New England.
These good results have been brought
aboutsby system which controls the
output Of the mills. and therefore, reg
ulates the prices of goods, and while 1t
cannot be termed a trust, 1t has many
things in general with such an organ
ization.
1t is to gain just such results as the
cotton manufacturers have been sue
cessful in accomplishing, that the
manufacturers of wooden goods con-
template forming combination.
1t is understood meetings similar to
that held in Waterville some days ago
soon will be held by the mill owners In
all of the states in which wooden goods
are manufactured. the purpose of such
meetings being to give the manufact-
urers an opportunity to discuss the
proposed plan and also that the indi-
vidual feelings of each as regards SUCH
a combination may be ascertained. AT
the same time delegates will be chosen
to attend a national conference which
probably will be held in New York and
where final action upon the subject
will be taken.
II the promoters Of the proposed plan
/. are successful and the engagement is
entered into by the principal manu-
facturers. each mill will remain under
the same management and owned by
the same proprietors as at present,
not being purchased. held and operated
under one great trust.
big factor in the carrying out Of
the plan as proposed is the recent COM
bination of the manufacturers of
worsted goods under the name of the
American Wooden Co. with a capital
stock Of $5O.O00OOO.
The companies comprising this lates!
combination which includes the prin-
cipal manufacturers Of worsteds in the
United States and nearly all OF which
are located in New England are the
Washington Co. of Lawrence, the Riv-
erside WOrsted Co. of Providence, all
of Charles Fletcher's mills. which are
in Providence; the Oswego Falls. the
Blackstone. and the mills of James
Phillips. Jr.. Fitchburg.