The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1902-10-02

Is Its President-Ihe Imperial Branch
to Confine Itself to rhe Trade of the
United Kingdom. While the British
American Goes in for the World
Trade Outside OF Cuba the Unite
States aud the United kingdom-A
Great Amaigamstion.
London, Sept 27.-The tobacco
war has been ended by the amalgam-
alton of the American and British
interests. The papers were finally
| signed today. The new company
will be registered in London Monday.
An official statement was given out,
the text of which follows: THE bust
ness of the Ogdens, limited, has been
transferred to the Imperial Tobacco
Company, and the export business OF
the Imperial, Ogdens and the Ameri-
can Tobacco { Company and its allies
| have been ama1gamated and a Joint
| company is in course of formation
under the name OF the British-Ameri-
can Company, limited. The result is
that the Imperial Company will, as
agreed between the hitherto compel
ing 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
Imperial Company will pay for the
good will of the Ogdens business in
ordinary shares, ranking with the
| similar shares OF the original vendors
behind the * per cent. preference
shares OF that company and will pay
for the tangible assets of the Ogdens
in cash.
~. B. Duke, R. H. Walters and
Thos. Ogden will be elected to seats
in the Imperial board and the first
directors of the British-American
Company will consist of Sir VIM.
Henry Wills, J. B. Duke, j. B. Cobb,
II. H. Wills, W. R. Harry, c. F. Lam
bert, W. W. Fuller, W. g. Player,
c. c. Dula, Hugo Won R. Cunliffe
Owen, Percival S. Hill. Thomas
Gracey, w. B. Ogden, Thomas Ogden,
R. H. Walters, Percy Ogden, W. R.
|
"The transfer OF the Ogdens' Eng
fish business will take effect Septem-
Der 30, and from that day it will be
in the hands of the Imperial Com
pany.
cit is believed that this combina-
ton is the first attempt to unite any
great international industry and it's
progress will be watched with interest
everywhere. 1t may mark a new
development in the direction of
British and American interests join
ing 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:
''It is the first combination, to my
mind, on right lines, and one that as
sures unity of interests where power
full American and English concerns
90 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 negotia-
tons have been proceeding since
August 10. 1t was subject which
could not be discussed in the press
while they were in progress, but now
that they are concluded, we have de-
cided to issue an authoritative
statement to head Off garbled ac-
counts. Personally think the lines
On which this combination is formed
are destined of affect the large field
OF general Anglo-American CONNER
cial relations
eve are decidedly pleased at the
outcome Of the negotiations" said
one of the highest officials of the
American Tobacco Company, discus
sing the situation with a representa-
tive of the Associated Press. Not
only are we pleased at the good
business deal, out of which we made
several millions, but we are pleased
because the combination means q
real amalgamation of interest in
stead of buying off an opposition at
a price which appears to the opponent
to be profitable figure. Such d
real working combination of Ameri
can and English interests as has just
been effected will in any line OF bust
ness unquestionably dominate the
trade of the world.
Regarding the details you can say
that the capital of the British-Ameri
can Company will be $4,000, 900
Mr.. Duke will be president While il
is convenient to register it as al
English company and have it's head
quarters in London, we named l.
directors and the Imperial Com
pany's interests have named six. The
respective financial interests are two
thirds American and one-third Eng
lish. There is nothing to prevent
} transferring the headquarters tt
America, if it ever proves more con
venient to operate there, but al
present the business can be best
carried On in London.
We have named three directors
for the board of the Imperial Com
pany which will hereafter confin,
itself to the United Kingdom, while
the British-American Company goe.
in for the world trade, outside OF thu
United States, Cuba and the United
Kingdom. The Cuban provision in
sures for Americans the cigar t;,si
ness OF the island, of which we nov
control 80 per cent. The Imperia
Company throws into the new com
; pany its colonial business So, with
our trade outside the United States
the British-American Company starts
with a ready-made annual business
of LOCO, 100000 cigarettes alone.
Regarding the Imperial Com
pany's factories in the United States
concerning which considerable matter
has been printed in England, they
are merely leaf factories and will be
| cDara tod for HAT pr,rDpSo -