The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-11
COurtIand Van Camp Returns from
New York and Furnishes the
Details of the Deal.
RETAILERS TO BE PROTECTED
COMBINATION WAS NOT FORMED TO
INCREASE PRICES.
Long List of Prominent Hardware
Firms Included I'm the New
Corporation.

Mr.. COurtland Van Camp president of the
Van Camp Hardware and Iron Company of
this city, returned from New York yester-
day and TO a Journal reporter last night
confirmed the announcement printed in the
Journal yesterday morning that consoli-
dation Of the great hardware jobbing houses
of the country had been effected. He stated
briefly the purposes for which the COM
bination of interests was made and gave a
full list of the jobbing firms which are
parties to the consolidation.
1T should be understood" said Mr.. Van
Camp, that the formation of the National
Hardware and Metal Company is not a
monopoly IN any sense of the word Its pur-
pose is not merely to advance the business
interests of the jobber. but also of the
legitimate retailer. BY means of the consoli-
dation every jobbing house that is party
to it expects to secure important reduc-
tions in buying, and consequently all of
them will be able to sell goods to the
legitimate retailer at a price considerably
less than he ever paid before.
There will be no cessation OF healthy
competition in the jobbing trade Every
house expects competition and is not
against it as a factor in business with
'cut-throat methods eliminated. The con-
solidation is the natural evolution of the
hardware jobbing business. The fight
among the individual houses became so
strong that all were sufferers in a way.
and no one the gamer, not even the retailer
The gentlemen who were foremost in pro-
noting the consolidation believed that il
would be wise and necessary 10 combine
into one strong company the successful Job
bing houses of the United States.
WILL HELP RETAIL TRADE.
1.-The retail trade is being injured and
even demoralized by the catalogue houses
and we hope, through our organization, to
improve the general situation and to benefit
the legitimate retailer. He will find that
instead of prices of hardware advancing
as is sometimes the case with other kinds
OF merchandise after the formation of COM
binations, the price of the goods he desires
will be less than ever before.
'The National Hardware and Metal Com
pany is capitalized at $12O 0O0, ,OOO of which
$40 900. 900 is preferred stock bearing inter-
est at per cent. The preferred stock rep
resents the actual value of the merchandise
OF the companies entering the combination
and cash. There is $4,000. 900 in common
stock which represents the other assets
of the various companies. There is abso-
lutely no water in the securities of the
National Hardware and Metal Company.
1T will be incorporated shortly under
the laws of the State OF New Jersey e.
c. Simmons. OF St. Louis, president of the
Simmons Hardware Company, the largest
hardware jobbing house in the world is
the president Of the company. John Bind
ley, OF Pittsburg, president OF the Bindley
Hardware Company, is the vice president
The other officers of the company will be
selected some time in the immediate fu-
ture There will probably be a secretary
and treasurer I'm addition TO the members
OF the executive committee and the mem
bers Of the board of directors" Mr. Van
Camp will be a member of the board of
directors.
LIST OF HOUSES
The complete list OF the great jobbing
houses which entered the consolidation. as
furnished the Journal by Mr. Van Camp,
is as follows: Baldwin. Robbins & Co,
Bigelow, Dowse & Co. Brown G. Wales.
Fitz. Dana s. Co.. Frye, Phipps & Co, the
Arthur c. Harvey Company. Holder & Her