New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-10
HARDWARE JOBBING TRUST
FIFTY HOUSES IN COMBINATION CAPI-
TAIIZED AT s12OOOO.OOo.
IT WILL BE. 1T is SAID. BIGGEST DIsTRlB-
UTING CONCERN IN THE WORLD-GEN-
ERAL. HEADQUARTERS IN ST LOUIS.

Authoritative announcement of consoiida-
ton of the big hardware jobbns interests OF TINS
country in a combination capitalized at Sl2o'-
600 600 will he made by The Iron Age" to-day
The consolidation embraces the Simmons Hard
ware COMPANY of St Louis; the Bindley Hard
ware Company, of Pittsburs; the William Bins-
ham COMPANY of Cleveland; the Supplee HARD
ware. Company, of Philadelphia the Pacihc
Hardware and Steel Company, of San Francisco
the NIarshall-WelIs Hardware Company OF Du-
Iuth. the Biselow & Dowse Company, OF BOSTON,
the Van Camp Hardware and Iron Company Oh
1ndianapclis. the George Trith Hardware Com
many. of Denver; Janney, Semple, Hill q Co.,
of Minneapolis, and forty others houses, repre-
sar+ine nearly every important trade centre or
the country. Negotiations are still pending with
other houses. and it is expected that there VIII
no further accessions TO the number already
enrolled in the combination. The Iron Age
will say:
Several names have been. suggested FOR the con,
solidaton such as t taf d HrfI tomrany
International Hardware and Metal Coihpdhy anu am.
mere % Is Iy tion not being technically completed,
there has been no formal choice of officers. 1t Is
Z E S!grrnons presfdent John Bindley vicepresdent,
@mo,ittea @m There Wn be a board of directors con
twenty-tiye to thirty gerTons' Tb
will also De executive committee OF nine . -.
The financing Of the company Is attended 70 pH
Moore 4 Schley. OF New-York. and George b. i hiil
* Co. of Pittsburg II IS intended TO s
$4,000 Cos $io@oooo preferred and sSeVoooo COM %
stock The preferred VIII be a s.f per cerJ d
dividends The general headquarters Tor m BUYING ~
ST Louis The Eastern Headquarters will be In
New-York City. The members OF the executive COM
manage the Eastern business OF the corporation
The Eastern office will have charge OF the tinanGe'
and of the auditing and insurance or the company .
well the general direction OF all the houses
England TIC general buying for the company will
be from the st. Louis headqgarters' " here i, inc
buying viii De done by the local houses The prin-
clple OF nome rune WI" pt & ~ ,har 80,
with the local houses, VINO VIII make tnelr own
selling prices except far this may interfere
with the buying department. or the fXpressed wishes
of the manufacturers, Which II VIII De ine p3iTy
of the company TO respect tach house VIII De heiI
these are not satisfactory the house VIII oe closed
All houses constituting the company will be
a mutual insurance fund will be created. and the
which would naturally be paid by the com
panieS for insurance under the present system VIII
be paid into such fund
1t is estimated that at least 100000 per annum
VIII he saved IN the matter mater OF Sil'alosues s. . -
1t Is intended TO continue the present force or
statesmen connected with the various houses. so
and retail distributors will be preserved. There
may perhaps b gradually a transfer or statesmen
other territory where the salesmens efforts can be
more advantageously expended
As present constituted, IL is estimated by the
company that they embrace something like two
thirds of the distributing efficiency of the tobbtng
are content that the other third should remain
competitors. il is intended mOnOpolize
the jobbing business.
Henry p. Chiffon, of Moore & SChley. said last
evening that he could not speak about the
bination of hardware men, as he was faml-
such combination. he said. but he was not in
a position to give any facts.