The evening times., 1900-04-18
GREAT BRIqAIn'S TRUSTS
Little Attention Paid TO Them by
English Newspapers.
The Formation of n Gigantic Com
bine Not Treated as Matter of
Great Importance in the Daily
JournnI-IIlustratiOn as to Style
i'm Which the News Is Chronicled.

Consul Halstead writes the State De-
partment, from Birmingham, March /
1900, 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, 1.2O0,OO0J gives only some
thirty-two lines to an item of the kind
and the editor lin 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 no.
taticn is advertised. one can look in vain
in other papers for either news or edlto-
rial notice referring to English trusts.
Mr.. Halstead continues:
II have a clipping from the February l.
issue of the London Daily Mail 1t is an
announcement of proposed formation OF
a worsted spinners' trust. This trust is
to have a. capital OF $S7, ,597 ,000, and leo
firms are concerned; yet the news editor
of the Mail judges this item to be worth
only a 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 of firms in that branch of
business One hundred and six firms weie
represented.
'''Mr. Scott Ling of Manchester, who
presided. explained that it was proposed to
buy out firms on the basis of allowin g
nothing for good will of concerns which
show only 5 per cent profit All profit be-
yond 5 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 1-2 TO per cent
for ordinary shareholders.
"a resolution in favor of combination
was unanimously passed, and the following
committee appointed to devise a scheme:
Mr.. Ickeringll. of Keighley: Mr.. James
Drummond, of Bradford; Mr.. Alfred Haley.
of Wakefield; Mr.. A. Anderton, of Check
heatou; Mr.. J. Hoyle, of Halifax; Mr..
Smithies. OF Elland and MIR. H. White
head. of Bradford.
Opinion is divided as to the possibility
OF a successful combination. Some put the
probable total capital at els. 200 000.'
II 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 alnaIgamatlOn oil the
two wellknown Cape mail companies.
3" The object OF the amalgamation 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 its name
10 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 G2CO0, 600.
The directors also combine. and Sir Fran
els Evans. chairman and managing direc-
tor Of the Union joins the firms of Donald
Currie q Co in the control of the amalga-
mated concern.
a new I 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 fl0. 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
Union-Castle Company. and in addition will
receive Sc lbs. 4d. per share, payable in 4
per cent debentuTe stock -