The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-04-12
WANRMAKER IN IT.
Philadelphia Man Expected to
Enter Dry Goods Trust.

New York. April 1.-THE Journal Of
Commerce says:
1T has been learned that the scope Of
the Associated Merchants company
which has just been organized by John
Clahin, and which AIessrs- J. P. Morgan
& Co. are financing is much wider than
at first reported. The businesses that Mr.
Clahin proposes to buy are, it is under
stood, among the very highest character
in the city. No definite contracts haN e
vet been made. and negotiations have
not vet reached a definite stage, but It
is known that it is Mr. Claims idea to
secure, If possible, control of such high
class houses as Arnold. Constable & Co !.
Lord & Taylor tincluding both the
Broadway and Grand street stores) and
Simpson, Crawford & Simpson These
additions TO already important list mem
toned in the prospectus namely, the
Clahin company, the Adams Dry Goods
company and McCreery's, constitute a
trade consolidation movement that is
without praecedent in dry goods mer-
chandising circles There is also foun-
dalton for the statement that Mr.. ClaE-
lin has had in mind the entrance of Jno
Wanamaker into the combination but
he found little encourag cement in this oil
rectiOu. Other reports mentioned the
possible entrance into the combination
of the Joseph II. Baul e. Co., of Fulton
street, Brooklyn, and Batterman & Co,
OF Broadway, WllllaulSDuTSH-
1t is, of course. not intended to pur-
chase these concerns outright; 1t is
merely proposed to do the same as with
the other stores, namely, purchase a
controlling interest
1t was reported on good authority last
Thursday evening that the stock of the
Associated Merchants company offered
by ]. P. Morgan & Co. to the public had
already been fully subscribed John Olaf
lin, when questioned, said that it was
too early yet to consider what addition
al companies would be taken over, dS
nothing had been definitely arranged in
that direction. A representative OF
Simpson, Crawford & Simpson, when
questioned, said that he had not heard
of any negotiations.
Mr.. Clafiin denied absolutely the story
that the land fronting on Sixth avenue,
between 25th and 10th streets, belonging
to the Aston estate had been leased by
the Associated Merchants company, ths
new dry goods combination. and is to
be used for a new fire proof building Il
to the report, is to cost $4,000, 900, and is
to be used as the eastern headquarters
for the business Of the combination OF
the Associated Merchants company. J.
Pierpont Morgan is said to have signed
the documents in the transaction before
sailing for Europe last week 1t is said
that the tenants of the small buildings
which stand upon it have been inform
SQ I1aL their leases VIII not De renewed
It is thought that the building will bs
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 Marshall
Field & CO. The firm in question denied
any intention of leasing such a building,
but there seems justification for tho
statement that some large eastern houss
will occupy it.
It has been the business policy of the
firm Of John Wanamaker to keep clear
of com binatiOns, and it is not believed
that any tangible result will follow the
overtures already made on behalf of Mr.
Clahin. Mr.. Wanamaker is contemplate
ing the erection of virtually a duplicate
of his present store on the block immedi-
ately south Of his store and win make
connection by means of series of
bridges and tunnels. The property or
which the new building will be erected
belongs to the Sailors Snug Harbor, the
trustees OF which have only power to
lease and not sell it. Wanamaker has
already bought up the greater part OF
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 a new one be is
sued, so that he may be justified in
erecting the new store in question. The
trustees have not yet reached a decIs-
ion.