The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-11-20
Chicago TRUST TO move
The Linseed Oil Combine Going to
the Metropolis.
Managers Hope to Get Closer 20 the
Borrowing Centre, Being i'm Need
of rive Million DoIiars-Transfer
said to He Due 10 Hostile senti-
ment Now Prevailing in Illinois.

CHICAGO, Nov. 2O.-The American
example of other trusts, and leaving Chi
cago. At meeting of the directors a
resolution was adopted closing the offices
in this city after January next, and also
closing the registry department of the
stock with the Illinois Trust & Savings
Bank
This means that the company will
cease to do business on the local Stock
Exchange and it viii remove bag and
baggage to New York city.
The American Linseed Company is
Just now under a financial and CONNER
cial stress Its haxseed deal on the
Board of Trade has been eminently I'M
successful; it has been compelled TO pass
the dividend On its preferred stock; it
has apparently exhausted its working
capital Of over 5000, Geo, and it openly
acknowledges that it wishes to raise
50 000, 600 more TO do business.
On the Stock Exchange its career has
been equally disastrous. Both the pre-
ferred and common sold yesterday at
practically bankrupt prices, the preferred
breaking under 90 and the common
under Z, against 80 for the preferred and
ABOVE 30 for the common about two
years ago, when the concerns certificates
we're first listed
1t is presumed that the transfer OF the
headquarters TO the East has been ac-
tuated by a hope that additional capital
may be raised easier il the officers and
Offices are at the elbow of prospective
money lenders.
The American LiRseed Oil Trust is the
successor Of the National LiEseed Oil Com
pany- It's capital stock was placed al S33,-
500 600, equally divided into preferred and
common shares James H. Eckles, who was
Comptroller of the Currency under Presi-
dent Cleveland. assisted in the reorganiza-
ton which took place in December, 1898,
under the laws Of New Jersey.
The new company took over the plants Of
the National Linseed Oil Trust and bought
eight other independent concerns.
While industrial stocks have doomed
since the recent election American Linseed
sold down fifteen and half points In a
week. Blocks OF the shares have been com
ing out in the name of q high executive Of
feer. Official deniaIs have been given 10
reports that The company is financially en-
barrassed.
The Linseed Trust in removing 10 New
York is following the steps If other con-
Germs which have moved bodily from Chi
cage and Pittsburg TO the neighborhood of
Bowling Green. The American Tin Plate
moved from Chicago in February last. Of
fee furniture. officers, typewriters and all,
doing business by train on the way
These companies represent capital OF
$40, Geo, 0e0. Ali were incorporated in New
Jersey and the reason given for removal
from Chicago was that the antitrust SEN
timent in Illinois was too strong for them.
The American Steel Hoop Company NOV
ed from Pittsburg to New York in June
last. As all the other trusts had establish
ed their executive Offices in New York,
where the business of the country is done,
the Hoop Trust officials found themselves
handicapped and moved executive sales.
and accounting departments. TO the Bat
terry Park Building. which is the very head
centre of trusts.
The American Wire and Steel Company,
he American Radiator Company, and the
Shelby Steel Company, of Chicago, also
moved On and have Offices in the same
building.
Fully half a billion dollars OF stock has
been transferred from the West TO New
York, in 1900.