Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-30
IHE GLUCOSE COMBINE
Consolidation Of Trust and Out
side Plants Practically
Completed.
Matthiessen Will Head New Cor.
poration. Giving His Com
pany Control.
Combination Can't Hurt Mar
shalltown, and May Result
to Advantage.

a press dispatch from New YORK an
nounces that the deal looking towards
the consolidation of the glucose trust
plants and the outside concerns is
practically closed. What effect this
combination will have on the Marshall
town plant, which is owned by the
trust, is only conjectural None of the
local officers here are in a position to
know the inside facts, and no orders
affecting the operation of the local
plant have been received. The ccnsol-
idation may have the effect of keeping
this plant in operation, as 1T is the out
side concerns that have been causing
the trust a great deal of trouble. While
all but two of the Glucose Sugar Re
fining Company plants have been shut
down. all the outside concerns have
been running. One thing is certain,
and that is that the consolidation cant
make matters worse, SO far as Mar
shalltown is concerned. The New York
dispatch gives the following particu-
lars of the transaction:
New York. Jan. 30.-A deal involving
the consolidation of all the principal
glucose companies of the country has
been practically closed. The capital
stock of the consolidated company,
which will be organized, under New
Jersey laws. will be sso,ooo,oOo. and it
will handle some 100000 bushels of
corn day. OF the capital stock $780,
r. m 1. Nd
preferred.
THE companies included In the
merger are the Glucose Sugar Refining
Company (Which embraces the Dayen-
port, Ia. Sugar Refining Company, and
a plant at Marshalltown, Ia.) the Illi-
nois Sugar Refining Company. of Pc
kin, H., the Charles Pope Glucose
Manufacturing Company. the National
Starch Company, and the New York
Glucose Company. The New York
Company will remain under the control
of Standard Oil interests, but be oper-
ated by the consolidated company un-
der an agreement.
insiders will have charge of the
of the stock of the new
1t will begin business with
between 100000 and $5,000,000 addi-
tional working capital, number of
the companies taken in having accu-
mulated substantial SURPRISES. The
common stock of the glucose sugar re-
fining company is to be exchanged on
a basis of 100 for 125 for the common
stock of the new company. The pre-
ferred will be taken on basis or 10
for the preferred stock of the new COM
pany The company will cater chiefly
to the export and coast trade
Another dispatch from New York
gives further details of the plans, and
indicates that President c. H. Mathies-
sen, of the Glucose Sugar Refining
Company will head the consolidated
thus giving the men who
now own the Marshalltown plant con-
troll of the glucose situation and the
business. 1t is probable prices will be
which will enable the trust
to operate all it's factories at a profit:
THE companies included in the
merger are the Glucose Sugar Refining
Company, (Which operates this planD
Illinois Sugar Refining company of
Pekin, ILL., Charles Pope Glucose Man
company, National Starch
and the New York Glucose
company. Forty-nine per cent of the
stock of the latter concern, which is
capitalized at 100000 and controlled
by Standard Oil interests, has been ac-
uuired. The New York company. how
ever, will remain under control of
Standard Oil interests. but will be
operated by the consolidated company
under an agreement.
&c. II. Mathiessen, Norman B. Ream,
and Levy Mayer. who are here for the
purpose of applying the finishing
touches to the merger, would give out
no information today concerning the
deal. However, 1t can be said that the
president of the consolidated company
will be C. H. Mathiessen, now president
IF the Glucose Sugar Refining Com
oany.
Insiders will have charge of the un-
of the stock of the new cor
poration. 1t will begin business with
between s4,00o,000 and $5,000,000 addi-
.ional working capital. number of the
taken in having accumu
ated substantial SURPRISES. The COM
non stock of the Glucose Sugar Re
lining company Is to be exchanged on
| basis of 100 for 125 for the common
stock of the new company. The pre-
erred will be taken on basis of 1875
or the preferred stock of the new COM
oany.
Considering the deal, a representa-
i've of the New York Glucose company
oday said: The merger means a clear
ng up of the whole situation. Lack /
# harmony has tended to depress the
business of all the companies, but un-
Ter the management of the holding
the constituent companies
will be placed on solid foundation.
rhe cut-throat policy that has pre-
'ailed for years will be eliminated. In
ny opinion the prices of the products
# the glucose companies will be adj
.anced when the consolidated COM
amy gets down to business"
The New York Glucose Company
vas organized about year ago with 1
capital stock of s4,0O0,0O0, practically /
II of which is held by John ID. Rookie
eller, H. III. Rogers. Frank Tilford,
ohm d. Archibald, F. ID. Barstow. e. M.
Pratt w. II. Nichols, M. j. Matthies-
en-. Stanford Steele. j. H. Oliphant, e.
:. Bedford and Henry Bateler. A di-
ector Is authority for the statement
hat the company will cater chiefly to
he export and coast trade He said:
While the exports of the products we
manufacture are large, they are capa-
lie OF much greater expansion, and
lans we have under consideration