The Topeka state journal., 1900-01-26
FLOUR TRUST SAFE.
The Combine Secures the Much
Needed Capital.

New York, Jan. 26-The Herald says:
1t was announced last night that the
plans for providing working capital for
the United States Flour Milling COM
pany were practically sure of success,
and that A. G. Loring, manager of the
Northwestern Milling company of Min
neapolis would return to his home,
leaving this city this morning fully con-
vinced that there will be no further
difficulty in raising the 81, 900 re-
quired by the mills of Minneapolis un-
der his control as a working capital.
George Urban, jr., of Buffalo, presi-
dent of the United States Flour Milling
company, also will leave New York to-
night for his home, and it is said that
before his departure will sign the pa
pers which will bring to the treasury
Of the Hecker-J Jones-JeweH Milling
company the funds required.
President Urban said that he did not
look for any further difficulty, and he
was convinced that the minority stock
holders of the Northwestern Milling
company would be satisfied with any
arrangement which the majority might
make. These statements were made by
him in the presence of Jacob Ames, of
Syracuse, and Thomas A. Mcintyre, vice
president and secretary, respectively of
the United States Flour Milling com
pany. Later, at a time when President
Urban was not present, Mr. Mcintyre
said:
There is no minority interest in the
Northwestern Milling company [ am
not responsible for what President Ur-
ban says, and when he spoke of the Rlt-
standing shares of stock he did not
know what he was talking about The
stock has been purchased for me by a
friend. I shall take it up when I get
the money"
When asked how soon the trust would
be ready to take the public into its
confidence and announce what arrange
ments have been made in the way of
providing working capital, Mr.. Nc
Intyre said: Il shall probably make a
statement sin a few days, though I can
Everything is moving along smoothly
and satisfactorily. We have borrowed
money for the purchase of raw material
and I know of no company that has not
ready to meet any debts which we may
have contracted. We do need working
capital. and are going to get it,"
a. c. Loring of Minneapolis, who has
been an official of the United States
Flour Milling company, resigned all OF
his offices in connection with that con-
Germ on Wednesday afternoon, and at a
meeting held yesterday was elected
president of the Northwestern Mullins,
company, of Minneapolis. At that meet
ing it was also ordered that there
should be an amalgamation Of the Min
neapolis Flour Manufacturing COMPANY
with the Northwestern Milling COM
pany, giving the plant in Minneapolis
eight mills, with total daily capacity
of about IL GOO barrels.
Mr.. Loring surprised his associates N
New York by his independence. He is
said to have Informed them that while
he was willing to work in full harmony
it was necessary for capital to be pro-
vided and that if it could not be obtain
ed in New York on good terms he would
be able to get it in the northwest In
any event he wanted it understood that
the mills under his control were to be
operated with the idea of producing d
profit and not for the purpose of max
ing good the losses in the operation of
other mills.
As a result of Mr.. Loring's position it
is understood that the Empire State
mills, at Syracuse, two in number; the
mill of the Urban company, in Buffalo:
the Daisy Roller mill of Milwaukee, and
the Duluth Roller mill. of Milwaukee,
will be permanently closed down, while
the six mills at the head of Lake Su-
,perior will be operated only during
eight months when the lakes are open
to navigation.