Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-05
ENGLAND CLAIMS
TOBACCO VICTORY.
Says American Combine Was Forced
to Accept Terms-omcinls Insist
Tint Route is Complete.
(New York Commercially

(New York Commercially
! LONDON, October 3.-Although the
| directors of the American Tobacco COM
| bine who gave out statements here and
on the other side of the water sought to
construe the settlement as a victory for
| their side, and in whatever light it might
| be viewed, as a bargain of mutual adj
vantage, the view taken by the tobacco
! trade Of Great Britain is directly to the
! contrary.
There is scarcely an important dealer
| in the city who does not think that in
stead of accomplishing what it came over
here TO do, namely, the capture of large
part OF the whole of the British market
the American combine was ousted from
| che Of the best tobacco markets in the
! world.
One of the proprietors of large retail
| tobacco business. when adhered to the
cause of the Imperial during the recent
| struggle, is quoted as follows:
| AMERICANS ROUTED.
The American gentlemen discuss the
matter with great complacency, as per-
haps Trey should considering how much
worse it might have been if things had
gone on. The Imperial Company proves
itself fair winner by allowing the press
accounts to deal charitably with our
Americans, but really the shock cannot
be u1inimized for the rout is complete.
What does the American trust obtain-
Three members Of the Imperial Company
Board, which consists of twenty-five
members. The agreement, I understand,
provides that three Americans may be
substituted for three British members, or
tie board may be Increased to twenty five
by the admission Of Mr.. Duke and two
friends Now it is not to be supposed
that any Briton will step aside for an
American, so it may be set down that the
american trust will have three members
of board of twenty-five.
NEW YORK. October 3.-An officer of
tins Universal Tobacco Company, the only
home competitor of the American Tobac-
co Company, and its affiliated companies,
was shown the above cablegram and ask
ed il the settlement Of the war in Eng
land had affected the situation in this
country. He replied:
We are not concerned as to what oc-
ours In England or elsewhere outside the
United States, for our company has sufh-
cient business from its customers in the
half dozen States to which it's product is
Being shipped. We modestly believe,
however. hat our goods will find ready
sale in foreign markets when we are pre-
pared to commence operations there.
CHANCES IMPROVED.
Our chances are enhanced by the set
tlenent, for If the Imperial Company had
come here and started its business with
out amalgamating with us they woulc
naturally have diverted some Of the sup
port which has been accorded our incc-
pendent efforts.
I'VE had several conferences with the
Imperial Board and their representa- tives,
but could come to no agreeable terms,
as they eXacted entire domination of our
business, which we found it impossible
to grant.
The Universal Tobacco Company was
started with the commercial belief tha>
quality and independence would be pro-
titably appreciated by tobacco and cigar
cite consumers and our sales Justify that
belief
The labor unions have helped us mate
rally, both in the purchase of our goods
end their decided action in localities
where unfair discrimination is used
against us by our competitors.
I'VE are, however not relying entirely
upon their friendly zeal in assisting us to
ou-- commercial rights, but our attorneys
are examining a number of cases where
overanxiety to restrict our trade is. in
their opinion, sufficient to bring some eS-
criminal code
London advices to a New York financier
interested in the combination say among
other things:
SIGNS OF THE PURCHASE PRICE.
I'VE notice a published statement says:
that the American Tobacco Company be-
cones a large stakeholder in the 1npe-
rial Company. The bylaws of the latter
provide that director shall hold not less
than 100000 Cs1.ooo, oo0) of stock. Now, il
the American Company were receiving
any more stock for the business Of Og-
dens, Limited, than just enough to quail
fy three directors they would undoubted-
ly insist upon electing more.
$50 there we have a telling indication
of what they received for the British
branch Of their business. Moreover, the
purchase was paid in the common shares,
which have not as yet paid any dividends,
The price they paid for Ogdens' and
their subsequent outlay are supposed to
amount to el,boo.o0l.
Now consider what the American COM
bination is paying for these, three direct
ors in a board of twenty-five. First. it
quits Great Britain absolutely, giving up
one OF the best, If not the very best, to-
hacco markets in the world. Second, it
forms q new company for all business
outside the United States and Great
Britain and takes the Imperial Company
into partnership giving It third Of the
Board of Directors.
FOREIGN BUSINESS LIGHT.
THE American ragnates failed to state
that the Imperial Company never had
sny business abroad to speak Of. 1t
never had any business in Canada, in
South America, or in Continental Europe.
where tie American trust has heretofore
been going forth TO conquer. alone. 1 I'M
derstand that a further concession to the
Imperial Company, not conspicuously
mentioned in the American statements
gives it control for Crest Britain OF all
Havana cigars, ownea by the American
Company, through its Cuban purchases.
mo, the fact OF the matter is that the
heavy expenditures in opposing the Impe-
rial and those caused by opposition a
home, forced consideration even upon
Dukes willing f1Hanciers, and the astute
and pacify.ng Thomas F. Ryan was sen,
here TO prepare retirement from Great
Britain, with the loss of as little prestige
as his resourceful talent could arrange.
"The American Tobacco combine for the
first tirnc In It's history accepted terms In
stead of debating them
THE IRRIGATION CONGRESS-.