The sun., 1901-10-27


Conditions similar 60 those OF the early
part Of 1877 had agsin ov-rsprcad the In
dusiry In New Engl and in the fall OF isoo
There had been one reduction ~ wages
which the cotton mill employees every
where had lseu Obliged Ia accept. but a
very large stsck II cloth remained in the
market and another reduction Of wages
was seriously contemplated The opera
tive- declared that they could not stand =
further r-ipciion, but on the otner hand
, must have sn advance
Ia Fan River tie unions camc 70 All
agreement VITA tho Manufactures A-s-o-
ciation, binding tieni-ely"s To ACCEPT
per cent advance ~ vagr-. Mr.. Borden
posted notice', tha; WGg"s IN all depart
inents Of hit mills would H. Increased ~
per Csnt. gni ~" unions OF cOur-e, fp'th-
with refused q" h. satisfied with any les.
than n 10 per cent Increase IN all the fuills
This advance wa made latef IN the ot her
Massachusetts mili- outside Of fall River
and wa followed ~ due cOurse in the Maine
ard New Hampshire rnill,: io hut Nj.
Bor,len. again voluntarily forced u wag .
and not only In the town ot ms immediate
interests. but Throughout New England.
Enemies ieals'd us around him that time.
Employer, whose sole idsa Of mesting a
trade crisl- Was cmbudi,d In the 'duction
of the wages of their wOrkmen, could
neither understand nor forgive IN" man
who In such SEASON could Oher 10 per
cent. NOR" To hi. employees. But Mr
fhHNfns NaNlhk NfHhfts St'f INNHluEs w
wont oa profit making and again In less
than one year sho~"d the wealthy and
able men IN the great n,isine-s, Of dry goods
that he war ou the alert To undertake a
profitable deal al any opportune moment.
This happened Ia the early fall - last wear
There Wa under way one 81 the familiar
discussions uf the possible necessity q
reducing wages Ia the cotton mills again
Business In cotton cloths was duh The
outpu, cf the fall River mills wsS IN the
hands Of the Selling Committee, which had
laen established so control the market
IN the interests of conservatism and the
preservation ut pr:Cfs. 80 far a. possible
The put of the mills had already been
curtailcd. hui the talk of reduction of
wages had not ended
Du Sept I Nr Borden bought from The
Selling Committee cH"O pisces ~ print
cloth NJ -, cents. Ia. cloth was bought
for his printing factory and was 20 b-' lie
livered To him In weekly instailment- 81
2O.OD pisS.-s The cost ~ this purchase
20 Mr. Borden wa aiJout s7yO.0o.
Two daN- later there was nerce bear
panic ot the New York Cotton fxchang,-
Traders had discovered what n was said
afterwArd Mir Rord"u had evidently
seen sooner. namely, that there was to hc
a shortag" Of cotton. tn" worlds visible
supply. IN storage, wa about .2p,pb
halos Tie new crop. accorhng 10 pre-
dicttons. was To be about tO.Un.o0 The
average yearly consumption of the world
FOR the past three wears had been II .5D,0o
hal"~. Cotton jumped that dav on the
exchange from Se to ~ points. And that
day had MIR Borden chosen 20 sell hls
heavy purchase Of cotton cloths ~ two
davs before ia. price. " Was Snid, would
have been In the nsighborhoOd "i 3, Cen,r.
~ against the p, cents at which h" hough'
the goods.
M Borden said that hs did not buy for
the purpose of keeping the mills up"n and
iherebF keeping wages up, although
believer in high waRc>
! am IN favor uf high wagee ~ a generai
priuciple 81 business ". said, just as
every other manufacturer t.. But nav
purchase ives not al unusual EFFORT 20 re-
heve an unusual state ~ aTHir~. Wage
tnurt always b" kept up, because cheapen-
ing of manufacture cheapen. pri""~
My purchase was a mere matter Of
business, and | do not see Why u should
be dragged before the public. n"e'i'-t
tho cloth and so | bought ", Just n any
budy who needed bread would buy a.
Mr Borden Is 50. tut his large inlp"r-
coinparativelv few wears. He was horn
IN Fall River. III" -on ~ Col Richard Borden.
who was a pioneer manufacturer there
Hs wa educated ~ PNllp- Andoyer
and Vale and was graduated from Yale
In 1854 lie came 20 New York and took a
plac. a. q G ark IN q dry good iohb!nghou-e.
Thre.. years later he bccan" a partner
In commission firm and represented the
American Print Cloth Works ~ Fall River
The con~rn faiied IN 1879 and hn r-ur-
guni,ed IL and reopsned the works In iSSO
a. The American Printing Company. seven
wears later hc bought out his brothers
interest m this company and has hrrD
since practically the soi" owner Tn"
works Of this company ar" among IN"
largest OF their kind " the world
In 1850 Mr. Borden dcci,lsSi that his print
ing work, re.luirei ~ much cotton cloth
10 keep them hu-v that he would huild
mills for spinning warn and weaving cloth
himself He hull' u -''", and af'"rNard
fourth. and now 'her" arr rve ~ them.
known ~ III. Fall River Iron Works mills
With them and the PRINT works Ia" " IN
position 10 d" a cumplr'" business, largely
independent Of "a" markets IN which tho
other printers arc Obliged tp deal
When h" recorginizcd ,h" print works h"
allied himself here With N" oo'nnli~-,on
house 81 : 4 T. Virgin 60. which
l. now Bliss. FahvantCo. in Duane street.
n connection m which hc has continued
ever since
Mr Borden i callei 'aci,urn Hr l. q
club member sLd ENJOYS Yachting He
belung- io tho Mon League. Republican.
Mciruts Titan. The PLAYER. Merchants.
Duwutowu Riding and N"N York Nhl"tir
Clubs, tho Vale Alumni. the New England
Soriaiy. and the $swSnh1ka Yacht, south
side Sporism"n's and J~kyl Island clubs
II. own,d the Yacht Sovereign which be-
sold 10 th" Government IN lsos, II lscHme
the scorpion H." has since used his siusl .,
yacht. the Neiettc. l23 feet over all She
is often seen m the hartor and netghbnr-
ing water
Nr BORDEN H. a dir,''or in the bank
~ the Nanh sitan Company AMI the As'ur
Place and Lincoln National Ranks. and
IN ~" Lincoln safe peIoSi' Company and
tho New York security anh Trust Com
pany Tie married In isds. when one wear
ou, - o"llcgc, Mis-. Harriet Durfee ~