Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-04-12
Will NOT TRUST
wANAMAKER MAY WRECK THE
MERCHANTS COMBINE.
PLANS TO DOUBLE HIS TRADE
In Anticipation of the Fight-A Strong
Combination Of High Grade Dry
Goods Stores.

New York. April 1.-THE Journal Of
Commerce says: 1t has been learned
that the scope of the Associated Mer-
chants company. which has just been
organized by John Clafin, and which
Messrs. Pierpont Morgan 4 CO. arg
financing. is much wider than at first
reported. The businesses that Mr.. Claim
proposes to buy are, it is understood,
among the very highest character in the
city. No definite contracts have yet been
made, and negotiations have not Yet
reached Il definite stage. but it is known
that it is Mr.. Claflins idea to secure if
possible, control of such high-class
houses as Arnold, Constable & Co.; LORI
& Taylor Gncluding both the Broadway
and Grand street Stores), and Simps ID,
Crawford & Simpson. These additions
to the already important list mentioned
in the prospectus, namely, the Claflin
company the Adams Dry Goods com
pany and McCreery's. constitute a trade
consolidation movement that is without
precedent in dry goods merchandising
circles. There is also foundation for the
statement that Mr.. Clatlin has had IN
mind the entrance of John Wanama!>er
/
encouragement in that direction. Other
| reports mentioned the possible entrance
| into the combination of Joseph H. Baul
& Co. of Fulton street, Brooklyn, AMI
Batterman & Co. of Broadway, VII
| liamsburg. -ara
! 1t is, of course, not intended to pur>
! chase these concerns outright; it. il
merely proposed to do the same as wilh
tl,a hars ctn ,1o1xv r1,a
trolling interest. 1t was reported. on
good authority last Thursday evening
that the stock of the Associate Mer-
chants company offered by J. P. Morgan
& Co. already had been fully subscribed.
John Clahn, when questioned. said that
it was too early yet to consider what adj
ditonal companies would be taken over,
as nothing had been definitely arranged
in that direction. f. y.
A representative of Simpson Crawford
& Simpson, when questioned. said THAT
he had not heard of any negotia tons.
Mr.. Clatlin denied absolutely the story
that the land fronting on Sixth avenue
between Twenty-fifth and Twenty-slXtl
streets, belonging to the Aston estate,
had been leased by the Associated Mer-
chants company, the new dry goods
combination, and is to be used for new
freproof building twelve stories high
This building. according to the report, lis
to cost $30OOO0O, and is to he used
the eastern headquarters for the bust
ness of the Associated Merchants COM
pany. j. P. Morgan is said to hav.
signed the documents in transaction be-
fore sailing for Europe last week. 1t Is
said that the tenants of the small build
ings which stand upon it have been III
formed that their leases will mot be re-
newed. 1t is thought that the buildinS
will be begun before September. This is
the same land on which report credited
the Astors as having decided to erect a
large department store building for, Mar
shall Field & Co. The firm in question
denied any intention of leasing such a
building, but there seems justification f2r
the statement that some large west e.n
house will occupy it.
1t has been the business policy Of the
firm of John Wanamaker to keep Clear
of combinations, and it is not believed
any tangible result will follow the over
| lures in that direction. Mr.. Wanamaker
! is contemplating the erection of Virtually
a duplicate of his present store on the
block Immediately south of his store and
will make connection by means kof
series of bridges and tunnels. The lproi-
erty on which the new building will be
erected belong to the Sailors Sug HarboH,
the trustees of which have only power
to lease and not sell it. Wanamaker has
already bought up the greater part 1r
the leases on the property in question
and has made a definite proposition to
the trustees asking that all the Old
leases be cancelled and that new one
be issued, so that he may be justified II
erecting the new store in question The
trustees have not yet reached decision.