The evening times., 1900-04-18
GREAT BRIfAIN'S TRUSTS
Little Attention Paid TO Them by
English Newspapers.
The Formation of "A Gigantic Com
bine Not Treated as n Matter of
Great Importance in the Daily
JOurnRl-IIIustration as to style
i'm Which the News Is ChrOnicIed.

Consul Halstead writes the State De-
partment from Birmingham. March /,
1909. in regard to the apathy with which
the people OF Great Britain regard the
formation of trusts:
The news editor Of the London Mail
circulation, 1,2OO,Oo0y gives only some
thirty 1.-TWO line, to an item Of the kind.
and the editor-i chief IS not disturbed
TO the extent OF a single editorial para
graph. Except an approving paragraph or
two in the financial columns when the 10
tation is advertised. one can look in vain
in other papers for either news or edito-
rial notice referring to English trusts"
Mr.. Halstead continues:
Il have a clipping from the February !.
issue OF the London Daily Mail II is an
announcement of proposed formation Of
a worsted spinners' trust. This trust is
to have a capital OF $S7, ,597 600, and 100
firms are concerned: yet the news editor
Of the Mail judges this item to be worth
only two-line head. twenty-eight lines
OF small type. set solid. The item is as
follows:
A meeting Of spinners engaged in the
worstcd trade was held yesterday in Brad
ford to consider the question Of forming a
combination o. firms in that branch Of
business. One hundred and six firms were
represented.
Mr.. Scott Ling. Of Manchester. who
presided. explained that II was proposed TO
buy out firms on the basis OF allowing
nothing for good will Of concerns which
show only per cent profit. All profit be-
yond per cent would be multiplied seven
and half times. and that amount allowed
for good will. On such a basis. he calcU-
lated they could show IL 10 per cent
for ordinary shareholders
IA resolution In favor OF combination
was unanimously passed, and the following
committee appointed to devise a scheme:
Mr.. Ickeringill. OF Keighley; Mr.. James
Drummond. of Bradford; Mr.. Alfred Haley.
Of Wakefield; Mr.. A AndertOn, of Check
heaton; Mr.. J. Hoyle, Of Halifax. Mr.
Smithies, OF Elland, and Mr. II. Wni e
head. Of Bradford
Opinion is divided as 10 the possibility
OF a successful combination. Some put the
probable total capital at e1S.OO0.O 900
Il take from the same issue OF the Daily
Mail the following extract in regard 10
the amalgation as a trust Of two great
South African steamship companies.
Details are now fully arranged OF the
recently announced amalgamation OF the
two well-knOwn Cape mail companies
The object OF the amaIgamatIon is to
provide for the more efficient working OF
the South African trade and for the carry
ing out Of the joint mail contract which
the companies have made with the Cape
Government for ten years from October
next.
The Castle Company changes It's name
TO the UniOn-Castle Mail Steamship Com
pany. Limited. takes over the property and
liabilities of the Union Company. and in
creases its nominal capital TO $4,000. .OOO
The directors also combine. and Sir Fraa-
els Evans, chairman and managing direc-
tor OF the Union. Joins the firms OF Donald
Currie & Co. In the control Of the amalga-
mated concern.
a new per cent debenture stock Will
be created. for which the shareholders in
both companies will be allowed TO exchange
their present stock
1t is proposed that the shares Of the
united company shall be $40. instead OF
$50 shares. and the shareholders OF the
Union Company will receive for their paid
up capital an allotment of an equal nomi-
nal amount Of fully paid-up shares Of the
Jnion-Castle Company. and in addition will
receive Sc l3s. 4d- per share payable in
nal ONT .FsH H.srr