Belding banner. (Belding, Mich.) 1889-1918, 1901-02-21
ENGLISHMEN WANT THEM.
sic 100000 of English Capital Ready to
Purchase American silk Thread Mills.

Chicago Record, Feb. Goth.
English capital-Sl2 100000 of it's
on the way to the United States to form
a big consolidation OF manufacturing
plants. The sewing silk interests OF
this country are to be united. deal
which will result in the formation OF a
formidable silk thread syndicate will
be closed within two weeks II there is
no hitch in plans that have been under
way for year or more. All Of the big
silk thread manufacturing concerns in
the United States are TO be included.
The object OF the syndicate as explain.
ed by producers is TO minimize expen-
ses and place the silk thread business
upon a more paying basis.
The money that will bring about this
consolidation is TO be furnished by the
Coates Thread company, an English
corporation backed by a capital stock
of $6S 600, 900. Representatives OF the
company are expected to arrive in New
York the latter part OF this week TO
take up negotiations where they ended
at recent conference held in the east.
At the earlier meeting an agreement
that consolidation was desirable was
entered into and the various factory
owners practically decided to syndicate
their interests, provided satisfactory
concessions could be obtained from the
Coates company.
The DEAL it is thought, will be closed
within few days after the represent
atives of the English corporation ar
rive, and the transfer OF property is
expected to be made about March l..
According to a Chicago manufactures,
it will be a cash transaction, and the
capitalization of the syndicate will be
Sl2 600, 900. The consolidation will in
clude ten or twelve concerns, promi-
nent among which are the Nonotuk
Silk company, the Brainard & Arm.
strong company, the Holland Silk
Manufacturing company, the Winstead
Silk company, the Richardson Silk
company and Belding Bros. & Co.
With the exception OF the two last
named companies, the principal prop
erty interests are located in the east,
but each has branch house in Chicago
and different parts of the country.
Belding Bros. and the Richardson com.
pany operate extensive plants at Beld.
ing Mich, and the former company
has other factories at Northampton
Mass Rockville, Conn. and San Fran
cisco.
The result of the proposed consolid-
alton. it is said will be the abolish
ment of many Offices and branch houses
at pres ent operated by the individ-
ual companies. The business will be
conducted through one general office
at each distributing point established
by the syndicate. This system will
prevail in Chicago.
A movement to consolidate the silk
thread industries of the United States
has been on foot for two years Reduc.
ed profits, it is claimed, convinced
manufacturers that some action 10
minimize expenses was necessary and
they set out to formulate a plan. No
method was considered feasible until
English capitalists agreed to furnish
the money to syndicate the various
silk thread interests. The future
method OF operating the combined fac
tories will not be definitely outlined
until the deal now pending is formally
closed.
Discussing the proposed consoida-
tion yesterday, George p. Richardson,
president OF the Richardson Silk com
pany, said:
ut has been apparent TO every man.
ufacturer OF silk thread for long lime
that too much money was being spent
in getting goods into the hands of the
retailer. For instance, take a town
like Rockford, Ill. Each OF the com.
panies considered in the plan of con
solidation sends representative 10
towns like Rockville Ill, at stated in.
tervals. Ine amount of goods sold
does not justify the expense incurred,
and a syndicate can do with one sales
> | nav ~ ldll
To do under the present plan.
Il am not prepared TO say just what
the result of consolidation, If brought
about, will be. 1t is likely, however,
that the business in Chicago and at 9th
er branch points will be done through
one general Office. / think there will
be little change in the method OF con
ducting factories, and the same work
ing force will surely be required, foI
the output is never in excess of the de-
mand.n
Mr.. Richardson will go to New York
in few days to attend conference o
the thread manufacturers and repre-
sentatives of the Coates company.
|
The Sunshine society held a meet
ing, Tuesday evening in the parlors o
the r. S. Co. boarding house. A sons
service followed by devotional, and 1
fine program interspersed with music
Greetings were received from the Stat,
President General Mrs Belle NJ. Perry
aud also from the Recording Secretar!
, Mrs. Mae Gregg, who has moved north
a Il