The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1902-09-30
COLOSSAL TOBACCO
TRUSTS COMBINED
Amalgamation of the kmeri-
can and Imperial.
UoDtNS Is ALSO TAKEN IN
imperial Will Have No Competi-
tor in Great Britain.
The AMERICAN HOLDS THE FORT HERE
And The New Company Known as The British
American Will Compete for the Trade
It the Rest Of the
World.
UoDtNS Is ALSO TAKEN IN
HE AMERICAN HOLDS THE FORT HERE
(By the Associated Press

= the Associated Press.)
London, Sept. 27.-The tobacco war has
been ended by the amalgamation Of the
American and British interests. The pa
pers were finally signed today. The new
company will be registered in London On
Monday. An official statement was given
out, the text of which follows:
The business of Ogdens. Limited. has
been transferred to the Imperial Tobacco
Company, and the export businesses Of
the Imperial, Ogdens and the American
Tobacco Company and its allies have been
a~malgamated and a joint company is in
course OF formation under the name Of the
British-American Tobacco Company,
Limited The result is that the Impel !
Company. Will, as agreed between the
hitherto competing parties. he left in
possession of the trade Of the United
Kingdom, while the American Company
is not to be disturbed in the United
States or Cuba and the British-Amcrican
Company Will compete for the trade of
the other parts Of the world. The I'm
perial Company VIII pay for the good
Will Of Ogdens' Business in ordinary
shares, ranking With the similar shares
Of the original vendors behind the 515
per cont. preference shares of that com
pany and will pay for the tangible as
sets cf Ogdens in cash.
J. b. Duke, r. II. Walters and Thomas
Ogden will be elected to seats in the
imperial board and the first directors Of
the British-American Company will CON
sist Of Sir William Henry Willis, j. b.
Duke. j. b. Cobb, H. II. Willis, w. r.
! arTic = l. 7 on,Jnn+ w w ALL
W. G.. Player, G. G. Dula. Hugo Won r..
Cutiiffe owen, Percival S. Hill, Thomas
Gracey. w. =. ogden, Thomas ogden r.
H. Walters, Percy ogden, w. r. Walters
and Harold Roberts.
The transfer of Ogden's English bus
! mess viii take effect September Goth.
and from that day it will be in the hands
Of the Imperial Company.
1T is believed this combination is the
first attempt 10 unite any great inter-
national industry and its progress will be
watched with interest everywhere. 1t
may mark a new development in the di-
~rection Of British and American inter-
ests joining hands, instead Of competing
against each other in the sphere of com
merce."
Referring to the termination of the con-
I llItI GII Ollltidl u lltc 4AIIlt ICdtl 1Cil-
pany said to a representative CT the AS
ISOLATED Press:
cit is the first combination, to my mind
on right lines, and one that assures unity
of interests where powerful American
and English concerns go out hand in hand
to seek the trade of the rest of the world
1t has been a difficult matter, requiring
the most careful consideration. The ne
| Co+iotio,,c have hanr npOcap1inU since
AUGUST 18th. 1t was a subject which
could not be discussed in the press while
they were in progress. but now that they
are concluded, we have decided to issue
an authoritative statement to head off
garbled accounts. Personally, | think
the lines on which this combination is
formed are destined to affect the larger
field of general Anglo-American COM
cercia1 relations"
eve are decidedly pleased at the out
come of the negotiations said one OF
the highest officials of the American To
bacco Company, discussing the situation
With a representative of the Associated
Press. mo- only are we pleased at the
good business deal, out Of which we made
several millions, but W. are pleased be-
cause the combination means a real ANAL
gamation Of interests instead OF buying
off an opposition at a price which APP
pears to the opponent to be a profitable
figure. Such a real working combination
of American and English interests as has
lust been effected Will in any line of bus
mess unquestionably dominate the trade
of the world.
"Regarding the details you can say
that the capital of the British-American
Company VIII be $30,0 00, 600. Mr.. Duke
VIII be president. While it IS conNen~
lent to register it as an English COM
pany and have its headquarters in Lon
dOf.. we have named twelve directors
and the Imperial Company's interests
have named six. Their respective finan-
cial interests are tWo-thirds American
and one-third English. There is nothing
to prevent transferring the headquarters
to America if it ever proves more con-
vanient to operate there, but at present
the business can be best carried on in
London.
I'VE have named three directors for the
board of the Imperial Company which
viii hereafter confine itself to the Unit
ed Kingdom, While the British-American
Company goes in for the world trade,
outside of the United States, Cuba and
| the United Kingdom. The Cuban prONls-
ion insures for Americans the cigar bus
mess of the island, of which We now con-