The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-03-11
THE TIN CAN TRUST.
About One Hundred Factories Al
ready Absorbed by the Combine.

BALTIMORE, March "details Of the
financial plan of the new Tin Can Trust
are given in the following special des-
patch from Chicago:
The local subscriptions to the under
writing OF the new American Tin Can
Company were closed Saturday at the OF
fee of ! II. and ". H Moore and the
papers were sent to their Kew York of
flee where the allotment viii be made
! Some trading in the underwriting prfvi-
Ieges was reported at premium: IGI bid
and lo2 and los asked was reported in -
different brokeraEa houses.
The capital stock If the new trust IS
$500 e'5. divided equally between per
cent cumulative Dr,-I.-r---i ~ xix ard com
mon stock 1t is said TO embrace at least
. per cent Of the tin can business Of the
country. The principal Chicago Concerns
in the deal are the Norton Brothers. ILL
nois Can Company, and Frank Diesel
/ Company. About leo different concerns.
/ situated all over the country. are absorb
60 The principal ones besides the Chi
caEo COMPANIES are located at Boston.
New York, Philadelphia, PittsburE, Cir
cinnati. and ST. Louis
Norton Brothers was the largest sin
gle company taken in 1t is understood
that they received $5.009. 600 in stock. The
--'-'Ni I'm Efstt4$ t5CL Sfgt,iTfi, ana
| The Illinois Can Company received $3.50
! COO The other Chicago concerns taken
III are mucn smaller. The Norton Com
pany IS larger by five times than any of
the other concerns irclUded IN the deal.
ana mas been leadipS factor IN the tin
can trade for many years Oliver w
Norton. OF Chicago. President of the Nor
ION broth@rs Company. viii probably be
elected president OF the trust.
me subscription allotted to Chicago
| was S5,90e,00, which was distributed
! among brokers in the city. The stock
/ had been on the Chicago market for the
/ last four days. 1t is estimated that more
/ than half of the stock viii be taken uu
! III New York The allotment there was
! III the neighborhood of Sc, 100000. Most
Of the companies took preferred stock II
! payment for their interests, but a few
/ OF the small concerns took cash offers
| The trust viii absorb about 90 per cent
| OF the output of the American tinplate
| companies.
Economy in the distribution Will ef-
! fect one OF the principal savings to be
/ expected from the consolidation. Moore
| Bros control the factories of the Amer
lean I1nplate Company. which win in
sure favorable contracts for raw mate
rial TO the Can Trust The most yaI}la-
bic assets TO the combination are the
patents Of the individual companies which
WIZ nc coHtIolIeu by the trust ms
( was a paramount issue in the deal. as
! II Is claimed that il practically makes
il impossible for outside concerns L
exist"
The new trust proposes TO absorb mos
OF the tin can factories of Baltimore
options on these properties have unit
April l 10 run The principal can manu-.
facturers IN this city are: Black 8: Krebs
j.. 9. Camper & Co. Daugherty & Mann
Ea-tern Can Company. Thomas a Hand
i ". HartloVe kirWan & Riggs. Line
We aver s; Co, H + Miller & Son. NOrtoT
Ii Yiate and Can Company, Phelps 6
! Co William Rusk. Timothy Ryan, Jr-
L. TYneS Smith Can Company, Thirke
Ca. Company, Thompson Manufacturing
! Company, A Boom q Co, and Martin
( Wagner Company.