Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1900-11-04
Another Trust.

NEW YORK, November "a con-
solidation of tin can manufacturers,
which is being engineered by ex-Judge
w. H. Moore, will be effected. Fol-
lowing this combination, it is stated on
good authority that the long talked-of
merging of all the Moore steel compa-
MES will take place. Such consolida-
ton has been discussed in Wall street
for more than a year, and while the
company officials themselves refuse to
talk the project is said now to be under
serious consideration. Judge Moore,
who has organized, among other large
industrials, the National Steel, Ameri-
can Hoop, American Tin Plate and
American Sheet Steel Companies, first
desires to complete the combination of
tin can manufacturers. The options
he holds on various plants have been
extended, it is said, to January /, and
several authorities declare the project
will be completed before that date. This
addition to the Moore group will be the
means of shutting off another dan
gerous source of competition. Starting
with the American Tin Plate Company
two years ago, the consolidation
scheme has been directed in several
lines to protect more fully the allied
interests. The necessity of gathering
in the tin can manufacturers is said to
be emphasized by the recent completion
of large independent tin plate plant
near ST. Louis to supply the tin can
trade. There has always been an in
ducement for the large tin can manu-
facturers to make their own plates, and
their concerns were regarded as rally
ing points fer opposition to the Ameri-
can Tin Plate Company. 1t is under
stood in Wall street that every manu-
facturer of consequence in the country
has given options to Judge Moore. The
three largest concerns are Norton Bros,
of Chicago; CHINA & Co., of this city,
and the Union Can Company, of Hoops
ton, Ind. There are also four large
companies in Baltimore and large
plant on the Pacific coast, as well as
many smaller concerns. The capital of
the proposed new company is known
only to the chief organizer. It is es-
timated, however, at not less than $50,
100000. The consolidation of all the
Moore steel corporations would create
trial world to-day. The allied capital
of the four existing combines reaches
nearly 5000, 100000. AS the National
Steel Company now owns ore and coal
mines such a consolidated company
would be able to conduct every stage of
the tin can business from the ground
up, in addition to large output of
other products. An interesting feature
of the proposed tin can deal is the
proposed method of tiotation. The pro-
motors will, it is said, finance it
through the four steel consultations
already organized by them instead of
coming into Wall street for underwrit-
ing funds. This is advanced by some
brokers as a theory why the Moore
companies ha' heretofore paid no divi-
dends on their common stocks, al
though showing, as a rule, large profits.
DOOR TRUST GONE GLIMMERING.
Word has been received from Detroit
of the disruption of the National Door
and Window Screen Trust 1t was
known as the Continental Company,
Limited, and was organized year ago
with heavy capital. Predictions are
made in financial circles that this is but
the frs. of many oveTaapitalized trusts
to fall by the wayside The door and
screen combination was regarded as
one of the strongest financed a year
ago. 1t represented IS per cent. of the
factories in the United States. The
combine did a business during this year
of s1,500,00 in the United States and
Canada. 1t is the same old complaint
about outside competition, however.
New independent concerns sprang up
soon after the combination. and com
petition grew to such an extent that the
trust decided this week to dissolve.