New-York tribune., 1900-09-09
LABOR'S STANCH FRIEND.
NJ. c. d. BORDEN BELIEVES IT is GOOD
BUSINESS To PAY HIGH WAGES.

OF about S750000. Many theories have been ad-
vsrced concerning Mr. Borden's reasons for so
large a transaction IL the present unsettled con-
dition Of the cotton market. Some think he did
It for philanthropic reasons. hoping to prevent
threatened reduction of wages in the cotton
mills. Others less magnanimous, say political
considerations moved him, since a strike of
thousands of operatives, following such re-
duction OF wages as was contemplated, would
aid the cause of Bryan. Mr.. Borden being a Re
publican. Those who know Mr.. Borden best
however and these his rivals in trade, say
that business motives alone influenced him. Mr.
Borden had been reported for some time TO be
short Of old crop cotton. they say, and found IL
cheaper to buy unbleached cloths at 27s cents
yard, which he Will now bleach and print IN
his own works. than to pay 91a cents or 10 cents
a pound for new crop cotton in the raw and
work il up into cloth in his mills. Mr.. Borden
himself being asked for his reason by Tribune
reporter said: MY purchase was mere matter
OF business. needed the cloth and SO bought
it, just as anybody who needed a loaf of bread
would buy it
II is just this bold spirit which prompts him
10 spend S750O00 at one whack" as un-
concernedly as the ordinary man lays down
q nickel for loaf OF bread that has
set Mr.. Borden within a comparatively small
number of years upon pinnacle among ma
ton OF bold traders whose audacity and cool
nerve fairly take the breath away from the
stod British manufacturer and make even W all
Streets professional spectators look to their
laurels That Mr.. Borden's bOldness was justl-
fed from merchants point of view is demon
strated blythe fact that the market price for
print cloth Immediately stiffened and he could
sell his five hundred thousand yards to-day at
a substantial advance. That philanthroplc
end was also served is apparent from the tele-
graph dispatches that have since been puhhshe9
from Fail River saying that the paper Whlch
was being circulated there 10 bring about re-
duction in wages in the cotton mills has been
withdrawn fer an indefinite period. The action
OF Mr.. Borden in purchasing FIVE hundred thou-
sand pieces of goods, and thereby relieving the
market. put a stop to the movement to reouce
wages
TRUE FRIEND OF LABOR.
This is not the first time MI Borden has de-
rnonstrated his ability and Willingness TO help
the laborng in the best way of all, by
providing steady work for him at good wages
On February 8 1897. there was talk Of a reduc-
tion Of wages throughout NewEngland cotton
manufacturing cities. 1t was agreed tnat
35O0OOO spindIes in Fall River alone should
remain idle several days in each week for thir-
teen weeks This curtailment would ease lhe
overcrowded market Mr.. Borden stepped in
and bought 10000 pieces of print cloth regn1 gu
River and the tension was broken.
On November 80, 1899, similar conditions pre-
vailed ali over New England. The cotton goods
Ia borers had suffered one reduction Of wages,
and had remained at work. There was stlli
vast amount of cloth on the market. The iapor
unions said point blank that they would not
stand another cut, and that they must nave an
advance instead. An agreement was signed IN
Fall River by which the unions agreed to accept
an advance of per cent Then came the news
that Mr.. Borden had posted notices or a IO Per
cent advance IN all departments OF ms mus, mus,
the Fall River Iron Works ana the Aiiealcd
Printing Company. The labor unions refused
TO accept anything but a 10 per cent rise IN
other Fall River mills. and the rise came a little
la-a in Main and NpW W-Ha
Wr Borden's action naturally made some
virulent enemies for him among those manu-
facturers who could only one way OF meet
ing a trade crisis, that of reducing wages SIR
To a Tribune reporter he said last week; l am am
in favor of high wages as general prlnclpIe
Of business. Wages must always pe KEPT up,
because cheapening of manufacture cheaPeHs
prices"
BEGAN AS a STOCK CLERK.
This practical philanthropist is a man of in
teresting personality. He is now lfty-eight
wears old but is as vigorous many man OF
forty. He was born in FAN River, his father
being Colonel Richard Borden, pioneer manu-
facturer of that city. The son was sent to
Phillips Academy, Andover. Mass, and then to
Yale, where he graduated in lS64 Almost
Immediately after graduation Mr.. Borden began
his business career, and commenced at the bot
tom, starting as a stock clerk in one of the de-
partments Of a drygoods jobbing house in this
city. In three years he became a partner in a
commission house, where he represented the
American Print Works Of FAN River as selling
agent. When the print works failed, IN IoI3
Mr. Borden reorganized them, ana the business
was resumed under the name of the American
Printing Company in 1850. At the time
Mr.. Borden made alliance with the commits
sion house Of J. 5. & E. Wright & Co., now
Bliss Fabyan & Co. of Duane-st., which al
lance has existed ever since. In 1887 Mr.. Bor-
Cen bought his brothers interest in the Ameri-
Printing Company, and became practically
sole owner Of works which are among the largest
in the world OF their kind. These printing works
REQUIRED so much unprinted cotton cloth to keep
them running that in 1889 Mr.. Borden pro-
ceeded to build cloth mills Of his own in Fall
River He erected and equipped three large
mills for spinning yarns and weaving them
into cloth, and thus in a large measure became
independent of the open market The plant so
established was called the Fall River Iron
Works Company, in order to retain a valuable
charter granted to a company Of that name,
which had been formed originally for a different
purpose. These two companies are of enormous
value 10 Fall River because they employ a small
army Of operatives, and Mr.. Borden insists that
they shall be well paid, no matter what the
state of the market is.
HIS HOBBY IS YACHTING.
Mr. Borden is a rather taciturn man and seeks
10 avoid notoriety. The only hobby which he
cultivates seems to be yachting When the
Spanish broke out he sold his magnificent
steam yacht Sovereign to the Government Her
name was changed 10 the Scorpion when she
became warship One of Mr.. Bordens admir-
ers said to a Tribune reporter last week 'I
wish / had the money which represents the loss
which Mr.. Borden willingly sustained when he
sold the Sovereign to Uncle Sam for thousands
OF dollars less than he gave for her" Mr. Bor-
den retained his smaller steam yacht the
Vedette and she may be seen in this harbor
any summer day waiting until her owner gets
through business and is ready to board her for
his summer home The Vedette is 123 feet long