New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-13
WATCHMAKERS TRUST PLANNED.
CAPITALIZATION. IT rs SAID MAY BE BETWEEN
s2ooooOoo AND ssocoooOo


s2oOooOoo AND s3Ooooooo
II was learned yesterday from trustworthy
source that a trust, which will embrace nearly
all the big watch-case and watch movement manu-
factories in this country will soon be organized.
Plans for bringing these industries under one com
mon board OF Management have been under way
for some time. according 10 The Tribune's inform
ant and the work OF organization is nearly per-
fected
Elliott Burris. who has office No Sc Broad
way and lives at No 1ss Macon-st.. Brooklyn is
the promoter OF the proposed trust Mr.. Burris
was his home last night by Tribune re-
porter. and said that he. had little to say about
the plans OF formation OF the trust further than
that the proposed organization would have a cap
ital of less than s2ooo0Coo. and that It might
reach the sum Of s3OO0OOO0 Stock will he issued to
each company in the combination in proportion TO
the value of it's assets.
II is said that each company is 10 receive the ful
marketable value OF it's plant and business In stock
None of the stock will be listed for speculative pur-
poses
The Tribune's informant also said that central
company will he organized. with headquarters In
New-York and a large distributing house would
be established in Chicago and probably In san
Francisco.
What do you expect TO gain by consolidation?
asked.
He rented that the methods OF competition in
WdtCn-cdSe
were COSTLY and the methods of consolidated cap
jtal economical. He further said that nearly all
the big watch-case and watch-movement manu-
facturers would enter the new organization II they
had not Joined already. and that those VINO nave
become identified with the movement were not toid
when asked 10 join what companies were IN the
scheme.
There are nine different styles OF watch cases
continued the speaker. in explaining the auVah-
tages TO be derived from consolidation. and 10 MAKE
them requires as many different sets OF lathes anu
other tools Under consolidation each OF the ois
factories will have one kind Of work ana Nj ''''S
way the business Will be smplihed. lo' OF mo
chinerv used at present will not be needed anu T.,
&c also expected that there Will be saNhs ~ ~
manual labor. Preferred stock. bearlne PC 49,
Interest n Is said will be issued. 49,, -. .os
The firms mentioned in connection with me pTh
sibie consolidation the Elgin NationaI o6anY
Comnanv the American Watham Watch ComPpan'
and The Hampden Watch Company, all manu- :,
urers OF movements and the following max .s,rg
cases. The Dueber Watch-Case ManulaS,u'' IL
Comnany the Crescent Watch-Case company go o
semi Fahys & Co.. and the keystone "A'o"
Company -, ,ha firm OF
Francis r. Appleton. member OF tne III III n,ho
Robins G. Appleton OF No. n Maiden LAM WIZ
arc the agents OF the American Watch CoIssSStS,
NJ Waltham said last night that he kne" no'""e
~ INC nroposed formation OF a watcn uust. ,,o,,
OF Is Ali news TO me-" he said i sa" az s .e =.
a., 81 afternoon pap per 10 the effect that trusIt ~
III az .arnnd That was the FIRST had heard OF II
IL may be true. but our firm knows ho'n'"e "