The age-herald., 1901-11-10
No Heed of Desperate Rivals.

Enemies leaped up around him that time. Employers whose sole idea of meeting trade crisis was embodied in the reduction of the wages of their workmen, could neither understand nor forgive the man who in such a season could offer 10 per cent. more to his em- ployes. But MT. Borden, saving wood said nothing. He went on profit making, and again in less than one year showed the wealthy and able men in the great business of dry goods that he was on the alert to undertake a prontapIe deal at any oppcrtune moment. This happened in the early fall of last year.
 There was under way one of the famil- far discussions of the possible necessity of reducing wsges in the cotton mills again. Business in cotton cloths was dull. The output of the Fall River mills was in the hands of the selling commit tee which had been established to con- trol the market in the interest of conser- vatism end the preservation of prices, so far as possible. The output of the mills had already been curtailed, but the talk of a reduction of wages had not ended.
 On September Mir. Borden bought from the selling committee 100000 pieces of print cloth at 2 7-S cents. The cloth was bought for his printing factory and was to be delivered to him In weekly in- stallments of 20.000 pieces. The cost of this purchase to Mir. Borden was about $7E0, ,000. = Eaf
 Two days later there was a fierce bear panic on the New York Cotton Exchange. Traders had discovered what 1t was said afterward MT. Borden had evidently seen sooner, namely that there was to be a shortage of cotton. The worlds visible SUI ply iE storage was about 100000 bales. The new crop according to predic- tions, was to be about 100000 The av- ersge yearly consumption. of tine world for the past three, years had been 11,500,- 900 bales Cotton jumped that day on the exchange from 36 to AZ points And that day had MT. Bor den chosen to sell his heavy purchase of cotton cloths of two days before. the price, 1t was said would have been in the nslghborhood of S12 cents, against the 7-6 cents at which he bought the goods A is
 MT. Borden said that he did not buy for the purpose of keeping the mills open and thereby keeping wages up, although a Believer in high wages.
 T am in favor of high wages as a gem eral principle of business" he said. just as every other manufactures is. But my purchase was not an unusual effort to relieve an unusual state of affairs. Wages must always be kept up, because cheapening of manufacture cheapens prices.
 My purchase was mere matter of business, and do not see why 1t should be dragged before the public. I needed the cloth and So bought 1t, just as any, body who needed bread would buy it."
 Work of Few Years.
 MT. Borden Is 50. but his large import ance in the business world is a matter of comparatively few years. He was born in Fall River, the son of Col. Richard Borden, who was a pioneer manufacturer there He was educated at Philips An dover and Yale and was graduated from Yale in 1864. He came to New York and took place as clerk in a dry goods jobbing house.
 Three years later he became a partner in commission firm end represented the American Print Cloth Works Of Fall River. The concern fsiled in 1879. and he reorganized and reopened the works in 1880 as the American Printing Company. Seven years later he bought out his brothers interest in this company and has been since practically the sole owner. The works of this company are among the largest of their kind in the world.
 In 1889 MT. Borden decided that his printing works required so much cotton cloth to keep them busy that he would build mills for spinnir yarn and weav- ing cloth himself He built three. and af- terward a fourth, and now there are five of them, known. as the Fall River Iron Works Mills. With them and the print works he is in a position to do complete business. largely independent of the mar kets in which the other Irinters are obliged to deal
 When he reorganized the print works he allied himself here with the commits sion house of J. S. & E. Wright & Co.,,