The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-11-15
LANSTON CHANGES HANDS.
New York Interests Obtain Control
OF the Type Machine.

Rumors of a change in the control Of
the Lanston N0Eotypo Company were
made with considerable pOsttiveuess on
= Street today
The New York directors Of the concern
who have been large holders Of its stock
have added To their holdings recently. and
i'm addition to this they have made ar
raCgcUeuts with prominent financial in
terests in New York 70 purchase the
treasury stock Of the company, amounting
TO 7H.f11 shares. This trCa.=ry stock, with
their individual holdings. viii give them
complete control.
The statement IS made that an entire
reorganization Of the concern VIII bee of-
focted, that it's floating debt viii be can
ceIed and "a large cash capital furnished,
which, with the profits of the business.
VIII put il on "a firm basis
The first step 10 be taken by the new
controlling interest VIII be the immediate
transfer of the offices of the concern To-
New York. IL is said that there viii De
some changes III tie management ana that
men thoroughly experienced not only as
manufacturers but as me- enasers VIII be
put in charge.
1t is understood that President Dove
may continue as the president of the re-
AAAa.N'F~A-
yet mace any decision recording the mat
ter. n continues 20 hold the Office
he VIII transfer his headquarters 60 New
York
The plans for the reGnaEcing Of the
company have been urder consideration
for several months. The company. it IS
said. was entirely solvent with large bills
receivable that much more than cquaIej
its floating debt. II had very little cash
capital. however. and IL was considered
that more capital was absolutely neCes-
sary ID order 10 put the concern in pu-
stion 60 manufacture a larger number OF
machines. 1t is said that there has been
some little friction in the board in the
past year on account Of the differences Of
opinioN as 10 how the new capital should
be secured. but it is understood that the
Was hington directors are 90 heartily CO.
operate with the new people
The identity Of the people who have
taken the new intercs- in the company is
not disclosed At present, but tho state
mcnt is made that they are men Of wealth
and influence IN New YORK.
The statement is made by friend cf
the company that il is hoped 20 b. iu a
position TO declare a dividend early next
year This opinion is based on the state
ment Of Sellers * Co, of Philadelphia
the manufacturers of the Lauston ma
chine. that they are now prepared to
build the machines as rapidly as needed
and on a very large number Of orders
for machines from ali over the country.
Sellers {, Co. have "a large section Of their
immense manufacturing plant devoted 10
the building Of LanstOn machines, having
invested a large sum OF money in the
company themselves.
The Lanston company has had a long
series of disappointments IN the past few
years, owing largely, IL is said 10 lack Of
capital. and TO early imperfecIious in the
LaastCn type Of machine. II has been
hampered somewhat. too by the fact that
its central Offices have been away from
New York and communication with the
large business interests. Stockholders of
the company have received no dividends,
and they have seen the price OF their
stock decline IN value from above par to
a long way below par. The recent rImors
regarding a deal IN the con- 2any have at
tracted attention 20 the STOCK IN Street.
but nothing definite has De-. disclosed re-
garding the deal. and. ~ fact, the deal
has only been completed within the past
few hours.
Nothing new could be learned today
either in New York or Washington re-
gerdiar the recent rumors OF a merger
between the LaEscou and other tyDeset-
ting rachiue companies. Officers OF the
Mergenthaler company make the state
meut that no such deal involving the Mer-
genthaIer Company has been under con-
sideration 10y the board Of the company.
whatever any stUckhcIlery OF the com
Dauy as individuals may have done IN
the matter