The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-09-28
4 TOBACCO COMBINE
A,lERICAN COMPANY ABSORBs
VAST BRITISH INTERESTS.
FIRST INTERNATIONAL TRUST.
PAPERS CLOSING DEAL FINALLY
SIGNED YESTERDAY.

she Trust VIII Operate Under the
Name of British-American TObac-
co Company, Limited-This Is Be
Ieyed to he tie First Successful
Attempt to Unite Any Interna-
fionaI Industry, and Its Progress
VIII Be watched With Interest ,,n
Two inents-COmpany Starts
with Enormous Assured Trade.
London. Sept. 27.-The tobacco war
has been ended by the amalgamation
Of the American and British interests.
The papers were finally signed to-day.
The new company will be registered in
London on Monday. An official state
ment was given out, the text of which
follows:
The business of Ogdens, Limited,
has been transferred to the Imperial
Tobacco Company, and the export bus
inesses of the Imperial Ogdens and
the American Tobacco Company and
its allies have been amalgamated, and
q joint company is in course of forma-
ton under the name of the British
American Tobacco Company, Limited.
The result is that the Imperial Com
pany will, as agreed between the hith-
erto competing parties, be left in pos
session of the trade of the United
Kingdom, while the American Com
pany 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 Ogden's business
in ordinary shares, ranking with the
similar shares of the original vendors
behind the 512 per cent. preference
shares of that company, and will pay
for the tangible assets of Ogden's in
cash.
j. B. Duke, R. H. Walters and
Thomas Ogden will be elected to seats
in the Imperial board, and the first
directors of the British-American Com
pany will consist of Sir William Henry
Wills, J. B. Duke. ]. B. Cobb, H. H.
Wills, w. R. Harris, c. E. Lambert,
". w. Fuller, w. G.. Player, c. C.
Dula, Hugo Won r. Cunliffe owen Per-
cival S. Hill, Thomas Gracey, w. B.
ogden, Thomas Ogden, r. H. Walters,
Percy Ogden, w. r. Walters and Har-
old Roberts.
The transfer of Ogden's English
business will take effect Sept. 80, and
from that day it will be in the hands
Of the Imperial Company.
1T is believed this combination is the
first attempt to unite any great inter-
national industry, and its progress will
be watched with interest everywhere.
i may mark a new development in the
direction of British and American in
forests joining hands. instead of COM
peting against each other in the sphere
of commerce"
Referring to the termination of the
conflict an official Of the American COM
pany said to-day:
Tt is the first combination. to my
mind, on right lines, and one that as
sures unity of 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 diff
cult matter, requiring the most care
full consideration. The negotiations
have been proceeding since Aug. 10. 1t
was a subject which could not be dis
cUssed in the press while they We're in
progress, but now that they are con-
Guided, we have decided to issue an
authoritative statement to head off
garbled accounts. Personally, I think
the lines on which this combination is
formed are destined to affect the larger
Mercial relations"
We are decidedly pleased at the out
come of the negotiations" said one of
the highest officials of the American
Tobacco Company, discussing the sit
uauOn, with a representative of the AS
sociated Press. mot only are we
pleased with the good business deal,
out of which we made several millions,
but we are pleased because the COM
vol 1elti inn
OF interests, instead of buying off an
opposition at a price which appears
10 the opponent to be a profitable fig
ure. Such real working combination
OIL American and English interests as
mas just been effected will in any line
OF business unquestionably dominate
The trade of the world.
Regarding the details you can say
that the capital of the. British meri-
can Company will be $30,000,000. Mr..
Duke will be president. While it is
convenient to register 1t as an Eng
Ish Company and have its headquar-
ters in London, we have named twelve
directors, and the Imperial Company's
interests have named six. Their re-
spective financial interests are two
thirds American and one-third Eng
hsh There is nothing to prevent
transferring the headquarters to
Fenlent to operate there, but at pres
eent the business can be best carried on
IN London.
We have named three directors for
the board of the Imperial Company,
which win hereafter confine itself to
The United Kingdom, while the British
American Company goes in for the
world trade, outside of the United
States, Cuba and the United Kingdom.
the Cuban provision insures for Amer
lean the cigar business of the island,
o. which we now control so per cent.
The Imperial Company throws into the
new company its colonial business. so,
with our trade outside the United
states, the British-American Company
starts with a ready-made annual bust
hes of 4.000O00.00O cigar cigarettes
aioHo.
degrading the Imperial companys
tories in the United States, con-
corning which considerable matter mas
D'1 printed in England, they are
N'feiy leaf factories and will be oper-
'''a for that purpose"