Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-05-29
|O CONTROL TOBACCO
American Corporations to ABB
sorb All the Great Cuban
Tobacco Concerns.
New Company Is Formed to
Take Over the Business
Houses.
Capital Is Estimated at S35, 000.'
0O0..American Company Back
of the Deal.

New York, May 29.-Final steps were
taken yesterday for carrying thru the
deal by which the interests connected
with the American and Continental To-
bacco companies, popularity known az
the tobacco trust, acquire control OF
the leading tobacco concerns OF Cuba
The Havana Tobacco company, with
a capital stock of $35,00O,00O, which
was Incorporated at Trenton today,
will acquire, in the interest of tho
trust, the Cuban tobacco concerns
The new company's stock is divided
into 100000 5 per cent non-cumula
tive preferred shares and S3o,0O0,oOo
common shares, and it will have $780,
100000 of twenty-year . per cent gold
bonds, of which $2,500,O00 remain FOG
| the present in it's treasury. III. b.
Hollins & Co. made this formal state
ment yesterday regarding the new
company:
The Havana Tobacco company, or
ganized yesterday, has acquired the
Havana Commercial company, the
Henry Clay, Book & CO., and the Gu
banas company. This company has
been organized and is controlled by the
American and Continental tobacco in
terests. Among the directors who will
be elected are James B. Duke, John
B. Cobb, Oliver H. Payne, Thomas F..
Ryan, Anthony N. Brady, Grant b.
Schley, p. A. B. Widener, Frank n.
Ray, r. A. C. Smith, H. B. Hollins.
~ ~
other gentlemen, some representing
strong financial institutions, and 9TH
ers prominent in the tobacco and cigar
industry, whose names Will be an
nounced later
A member Of the firm of Hollins &
Co. said that by the requirement OF
the three concerns named the tobacco
trust secures absolutely the control OF
the Cuban tobacco trade. The Uni
versal Tobacco company, which is now
the only important independent Amer
lean company, he said, has no inter-
est whatever in the Havana CONNER
cial company, altho some of its di3
rectors were upon the Commercial
company's reorganization committee.
Whether it will be the American or the
Consolidated Tobacco company that
will eventually control the Havana
Commercial company was merely
detail which had not as yet been de-
cided. The reason why separate
company had been organized to take
over the Cuban companies was in or
der to keep the Cuban cigar business
separate and distinct from the rest of
the business.
The Havana Tobacco company will
take over the securities of the Havana
Commercial company on the following
terms: Sixty shares of preferred stock
and forty shares of common stock of
the Havana Tobacco company for each
100 shares of preferred stock of tho
Havana Commercial company, and for
ty shares of common stock of the
Havana Commercial company.
The Guaranty Trust company issued
q circular yesterday to the stockholders
of the Havana Commercial company
announcing that the reorganization
of that company had been dissolved
without formulating plan, and that
depositors are entitled to withdraw
the shares of stock of the Havana
company, without cost. The holders
of more than a majority of both the
preferred and common stock of the
Havana Commercial company have re
deposited their shares With the Guar
anty company for exchange as above,
and opportunity is extended to the
stockholders to accept the
terms.
Gustav Book. of Havana, reached
this city yesterday upon the Ward
line steamship Mexico, from Havana.