New-York tribune., 1901-04-14
THE CORD4GE INDUSTRY.
JAMES NJ WATERBURY AND OTHERS
TESTIFY BEFORE THE INDUS
TRIAL. COMMISSION.

Washington April 13.-The manufacture Of
cordage the subject of the Industrial Com
missions inquiry to-day. James NJ. Waterbury.
president OF the Waterbury Rope Company and
former president of the National Cordage Company
of New-York; William H. Filter of the Edwin Fl.
Filter Company of Philadelphia, and Gideon f.
Holmes. manager OF the Plymouth CordaSe Com
pany. OF North Plymouth Mass. being the wit
Mr.. Waterbury said that cordage is imported
into the United States the existing duty being sur
fcient TO exclude all foreign manufactures or the
article Speaking of the National Cordage Com
pany. Mr.. Waterbury said that il included ABOUT
go or 40 per cent OF the producing capacity OF the
country but there were several important con-
Germs which had never come in. The trust had
gone work Immediately after its organization 10
secure control of the hemp supply, and the COM
petng companies having met this effort. the conse-
quence was increase in the price OF raw ma
terial an overproducton of cordage and reduction
of price Consequently the combination had not re-
suited in benefit any one. This. however. caused
only a temporary embarrassment. ana the iaIure'
which came in 1898 due he said. TO the gen
eral financial dstrust of that year. They were
CARRYING about So 900 worth of binding twine.
Their credit was curtailed. ard as consequence
a receiver appointed He mad himseH eA-
pended 81 100000 in trying to sustain the trust
think, upon the WHOLE said Mr.. waterbury. tfal
we were great benefit to our competitors. SO much
that 1 would rather be on the outside don't
think any industrial combination can succeed unless
IT is for the benefit of the people or has an abSo-
lutte MONOPOLY He thought il would be a dsad-
vantage to have free trade with the Philippines.
and was opinion that general free trade would
be disastrous.
Mr.. Holmes said his company had been IN some
of the early cordage pools but had made more
money out Of the pools than in them His company
had not entered the National Cordage Company
when it was formed in 1885, and he was OF the
opinion that the trust had no advantage over the
independent companies. He did not believe IT pos
sble for any combination TO crowd independent
companies to the wall He said that his company
manufactures 15 20 per cent of the national
production of cordage. and that it is the largest
concern of the kind in the world. Wages had not
changed in the establishment since 1878. and there
are still many persons employed who were there
Iorty years ago.
Mr. Filter said his company had never entered
trust, but when the Cordage company was ot San
lied there had beer a strong effort 10 get the es,
tablishment into that rust. The pressure nad
taken the shape of sharn conpetltloI potil III tte
purchase of material and the sale or products,
but his company had forced the sales even lower,
and having thus measured the capacity OF their
competitors they had no .urther trouble. HIS COM
pany is now shipping of its product TO Russia,
but as a rule the foreig.l markets are so unsatis-
them. He wanted the tariff left as II Is. he be
leVed that cordage mills in Manila intelligenty
conducted with coolie labor and free admission
of their products to the markets OF the United
country. He also complained of the manufacture of
cordage by convict labor in Minnesota as calculated
TO have an injurious effect on the business where
free labor is employed.