Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-04-13
Industrial Commission Receives In
formation About Cordage Business.
COMBINATIONS NOT ADVANTAGEOUS
Hard to Control the Output OF
Manila Hemp.
TESTIMONY : OF WITNESSES

Rope and twine-the general subject of
cordage-was considered by the industrial
commission today. Mr.. James N. Water
bury, formerly president of the National
Ccrdage Company of New York, now presi-
dent of the Waterbury Rope Company
which is competitor of the so-called
cordage trust, was before the commission
at their rooms In the Bliss building.
Mr.. Waterbury described the organiza-
.ion Of the National Cordage Company.
which went into the hands of receivers
eventually and is not in existence now 1t
was organized with four and finally was
composed of about fifteen independent
plants. They expected TO reduce prices
and run all their plants at their full ca
pacity, but the result of their effort to do
that was to run up the price of the raw
material. Other companies went into the
market to get hemp. and it was run up by
the competition. The supply of hemp, he
id, is very limited and only about enough
for each years need is raised.
The future of the National Cordage Com
pany, Mr.. Waterbury said, was the result
of the company securing necessary credit
from the banks in 1893 They had always
had all the credit they wanted Their bus
mess required them to manufacture five
or six millions of dollars worth Of twfne
during the fall and winter for sale in the
spring, and they were accustomed to raise
money on the stock. The banks were
growing frightened over the silver question,
and the Reading railroad failed. That
caused a curtailment of their credit. Then
they decided to put out more common
stock to get working capital, and that act
coming with the panic resulted in a condi-
ton that made it advisable to go into the
hands of receivers.
Control of Hemp Supply.
An attempt was made at one time by the
National Cordage Company to secure ad-
vantage in buying raw material, but 1t
failed after six months. There are four
houses in Manila that control all the hemp
of the Philippines and the National Cord
age Company secured an arrangement by
which these houses would sell to no one
but them, except by charging them half
cent more a pound This arrangement
failed after six months, because the Ma
Mia people would not live up to it.
He thought a cordage plant could be run
to more advantage separately than in COM
bination with others under any trust ar
rangement. That would not apply to all
industries, but it did to the cordage bus
mess.
Mr. Waterbury said he thought the tariff
imported to this country from Manila.
Standard kinds of goods might be made in
Manila and sent to this country to the
injury of the business here.
When asked by Mr.. Phillips whether
great combine might not crush out a small
er companys, the witness said he owned
steel mill on Long Island and he would
rather have that than stock in the United
States Steel Company. He had been told
by Mr.. Morgan that he did not intend to
make war on any other company, but mere
ly wanted to give stability to the business.
The steel mill Of the witness was run with
old steel bought in the vicinity of the mill
He said combine that is a benefit to the
people and sells at a low price will pros
I,,,A ,nri-.a ;+
up competition and ultimately be ruined.
Mr.. Holmes a Witness.
Mr.. Gideon F. Holmes, general manager
Of the Plymouth Cordage Company, also
testified. While his company had been in
some of the early cordage pools he had
made more money out of than in them.
He thought the cordage trust had no ad-
vantage over his company. He had de-
clined to enter the National Cordage Com
pany. He did not think combination
could crowd individual companies to the
wall.
The rate of wages In the factory of the
witness. which employs 1000 men, women
and children, has not changed since 1880
The lowest wages paid men are s1.35 a day
for common labor Of fifty-eight hours a
week. Skilled men get up to s2.15 and s.,
above which are the salaried men.
Mr.. Holmes said SO far as his industry
is concerned labor never got a larger share
OF the profit than it does today. The men
get bet tenements and shorter hours,
and he t.lought their wages, while the same
as in 1880, will purchase more than for
merry.
President Filter Testifes.
Mr.. VIM. w. Filter, president of the Ed
ward H. Filter Company, said his COM
pany manufactures 1S per cent Of the
cordage product of the country. His COM
l,.1
had sharp competition both on the sale of
his product and on raw material He
thought it would be disastrous to the cord
age business of the country to have no tar
1f between the country and the Philippines
as the coolie labor in that country could
produce cheaper than could be done here
He complained of the making of cordage
by convict labor in Minnesota.
NOT IN THE FORM WANTED.