New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-09-28
TOBACCO WAR OVER.
.u.rcAMATIoN OF THE BRITISH AND
AMERICAN INTERESTS.

ended by the ama1gamation of the American
and British interests. An official statement COW
sring the details and subscribed to by the ON
,ers Of both combinations was given out this
afternoon.
The official announcement shows that the
r,algannation Of the British and American in
,-eete takes the form of a new company. to be
l-noW-n Is the British American Tobacco Com
ranv. in which both the Imperial and Ameri-
ran companies are represented. The American
and Imperial companies a-ree to respect each
.ber-s domestic trade. while the British-Amer-
tcan Tobacco Company will compete for the
Grade Of all the rest of the world. The papers
we're finally signed to-day. The new company
will be registered in London on Monday
TIE text Of the official statement is fol-
lows:
The business of Ogden's Limited has been
transferred to the Imperial Tobacco COMPANY,
and rhe export business of the Imperial, Ogden
and the American Tobacco Company and us
allies have been anlalgamated. and a joint com
many is IN course of formation under the name
Of the British American Tobacco COMPANY
limited The result is that the Imperial COM
panv viii as agreed between the hitherto com
netting narties he left in possession of the trade
Of the United Kingdom. while the American
company is not TO be disturbed in the unlted
states or Cuba and the British American COM
nen1- viii compete for the trade of the other
narrs If the world. The Imperial company VIII
nav for the goodwill Of Ogdens business IN
of the original vendors behind the 5l2 per cent
preference shares OF that company, and will pay
for the tangible assets OF Ogden $ IN cash.
7 z Duke. +. H. Walters and Thomas Og-
den viii be elected TO seats in the Imperial
hoard. and the first directors OF the BrlIish-
American company win consist of Sir William
Henry wills. ] B Duke. ]. B. Cobb. H II
Willis w r. Harris, c. E. Lambert w W
Fuller, ". G. Player. c c Dula; hugo Won n
w b Ogden, r. H. Walters, Thomas ogden r
r Walters Percy Ogden and Harold Roberts
The transfer of Ogden's English business VIII
+aLe effect on September So and from that day
ST will be in the hands Of the Imperial COM
pany. a.. -
+er7pr 10 unite any great international industry
and its progress will be watched with interest
everywhere. II may mark new development
IN the direction of British and American in
-4resrs Joining hands instead Of competing
against each other in the sphere Of commerce
Referring to the termination of the conflict
an official of the American company said TO a
representative of The Associated Press:
Il is the first combination. to my mind, on
right lines. and that assures real unity or
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 consldeFa-
ton The negotiations have been proceeding
since August 10. 1t was subject which could
not be discussed in the press while they were IN
progress but that they are concluded we
have decided to issue authoritative statement
TO head off garbled accounts personally L
think the lines on which this combination IS
formed are destined to affect the larger field or
general Anglo-American commercial relations
We are decidedly pleased at the outcome of
the negotiations said of the highest Off
Gals OF the American Tobacco Company dis
,ussfng the situation Not only are pleased
al the good business deal. out of which we made
several millions. hut pleased because the
combination means real amalganation of in
terests, instead of buying off an opposition at a
price which appears to the opponent TO be
al y1r0c
ZION of American and English interests as mas
just been effected will in any line OF business
unquestionably dominate the trade OF the
Regarding the details you can say that the
capital Of the British-American company Will be
$50 400 600. Mr.. Duke will be president Whlle
il is convenient TO register it an English com
ranv and have its headquarters IN London, we
have named twelve directors and the Imperial
cornpany's interests have named six Their re-
Srective financial interests are two-thlrds Amer
lean and one-tnird English. There is nothing TO
prevent transferring the headquarters TO amer
lea If il ever proves more convenient 10 oPeie
there but at present the business can be best
carried in London.
W.. have named three directors for the board
of the Imperial company, which will hereafter
confine itself to the United Kingdom, while the
British : nleric3n company goes IN tor the NorId
trade outside of the United States, Cuba and
the [ nired Kingdom. The Cuban provision IN
srres for Americans the cigar business of the
island. OF which control 80 per cent
The Imperial company throws into the new
company its colonial business. So. with our
American company starts with ready mace
annual business of 900 UO0,oOU cigarettes alone
Regarding the Imperial company's factories
in the United States, concerning which con-
siderable matter has been printed in England,
they are merely leaf factories and Will be oper-
ate6 for that purpose
On December 10, 1885, interests Identified with
the American Tobacco Company. which was organ
lied in 1890 incorporated the Continental Tobacco
Company with $75000000 capital, consolidation OF
several large plug tobacco concerns. Soon after
ward the plug business of the American Tobacco
Company Was turned to the company. In
March. 1893. the American Tobacco Company alb
sorbed the Union Tobacco Company, which had
been organized in the preceding October. ostensi-
bly, 4 rival Of the trust and had combined
several important plug tobacco and cigarette con-
Germs. The American Snuff Company. controlling a
business allied with the tobacco business. was IN
corporated in March. 1900 with s25,0GOG0 capital
and came under the joint control of the American
can Cigar Company also organized about the
same time by the same interests. The next step was
the incorporation in June 1901 Of the Consolidated
Tobacco Company, capital S3o0O0,oe0 which acquired
the control Of the American and Continental COM
panies. and incidentally. Of course of the Ameri-
can snuh Company and the American Cigar Com
Pany.
n May OF the present year the Havana Tobacco
company was organized with SO 600 900 capital. by