The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-28
0GDENS is ALSO TAKEN IN
The Imperial Will Have No Competi-
tor in Great Britain.
THE AMERICAN HOLDS THE FoRT HERE
And the Ntw Company Knowa as the British
American Will Compefe for the Trade
# The Rest of the
World.
(By the Associated Press, !,

(By 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
1.-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
amalgamated 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, be 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 American
Company will compete for the trade OF
the other parts of the world. The Inn
perial Company will pay for the good
will of Ogdens business in ordinary
shares, ranking with the similar shares
of the original vendors behind the 5A
per cent preference shares of that com
pany and will pay for the tangible as
sets Of Ogdens in cash
]. b. Duke, r. H. 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, ]. B.
Duke, j. B. Cobb, H. H. Willis, w. r.
Harris, c. E. Lambert. w. w. Fuller,
w. G. Player. c. c. Dula, Hugo Won r.
CuLliffe Owen, Percival S. Hill, Thomas
Gracey. w. B. Ogden, Thomas Ogden r.
H. Walters, Percy Ogden, w. r. Walters
and Harold Roberts.
1.-The transfer of Ogdens English bus
mess will take effect September both,
and from that day it will be in the hands
of the Imperial Company.
"It is believed this combination is the
first attempt to unite any great inter
national industry and its progress will be
watched with interest everywhere. 1t
may mark 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" F."
Referring to the termination of the con-
f1ict an official of the American Com
pany said to a representative of the As
sociated Press:
"It 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
gotiations have been proceeding since
August 18th. 1t was a subject which
could not be discussed in the press while
they We're in progress.
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
cercial relations"
1--WE 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 mot only are we pleased at the
good business DEAL out of which we made
several millions, but we are pleased be-
cause the combination means real ANAL
gamation of interests instead OF buying
off an opposition at a price which ap~
pears to be opponent to be profitable
figure. Such a real working combinations
of American and English interests as has
just been effected will in any line OF bus
mess unquestionably dominate the trade
of the world.
Regarding the details, you cant say
that the capital of the British-American
Company will be $30,O0O,0O0 Mr.. Duke
will be president While it Is conven.
lent to register it as an English COM
pany and have it's headquarters in Lon
don, we have named twelve directors
and the Imperial Company's interests
have named six Their respective finan-
cial interests are two-thirds American
and third English. There is nothing
to prevent transferring the headquarters
to America If it ever proves more con-
venient 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
will 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
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