The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-10
COurtland Van Camp Has Been in New
York Several Days Working
or the Matter.
IRON AGES ANNOUNCEMENT
BUSINESS PLANS OF THE COMBINA-
TION SET FORTH.
The Western Headquarters VIII he
Located i'm IT. Louis-Negotiat-
ing with More Concerns.

S
Definite information reached this city yes
terday of successful consolidation of the
great hardware jobbing interests OF the
country. The only Indiana concern in
cluded in the corporations that will be alb
sorbed is the Van Camp Hardware and
Iron Company Of this city. Mr.. CORTLAND
Van Camp. head of the concern. has been
in New York several days, but no definite
announcement has yet been received from
him.
Mr.. Raymond p. Van Camp said to a
Journal reporter last night: "It is true that
a consolidation of hardware jobbing inter-
ests is on foot. and it may so through. My
father has been in New York several days
and will telegraph me the moment the deal
is definitely consummated. l have not
heard from him yet. In view OF that fact
L do not care to make statement"
That the deal has been consummated
there can be little doubt. An Associated
press dispatch from New York reads as
follows:
NEW YORK ANNOUNCEMENT
Authoritative announcement of a consoll-
dation of the great hardware jobbing In
terests of the country i'm a combination cap
italized at S12OOOo,OOo will be made by the
Iron Age in its current issue tomorrow.
The consolidation embraces the Simmons
Hardware Company of St. Louis, the Bind
ley Hardware Company of Pittsburg. the
William Bingham Company of Cleveland.
the Supple Hardware Company of Philadel-
phia, the Pacific Hardware and Steel Com
pany of San Francisco. the Marshall-Wells
Hardware Company OF Duluth. the Bigelow
& Dowse Company of Boston, the Van
Camp Hardware and Iron Company of In
dianapolis, the George Tritch Hardware
Company of Denver, Janney, Semple. Hill
& Co. of Minneapolis and forty other
houses, representing nearly every impor-
tant trade center OF the country. Nego-
tiations are still pending with other houses.
and il is expected there will be further ac-
cessions TO the number already enrolled in
the combination.
'The Iron Age will say: Several names
have been suggested for the consolidation.
such as the International Hardware and
Metal Company, and there is little doubt
that one of these will be chosen. The or
ganization not being technically completed.
there has been no formal choice OF officers.
1t is purposed that the officials shall be as
follows: L. c. Simmons, president; John
Bindley vice president and w. ID. Sim
mons, chairman of the executive commit
tee There will be a board Of directors con-
sisting of from twenty-five to thirty per-
sons. representing different sections of the
country.
= There will also be an executive COM
mittee of nine The financing of the COM
pany is being attended 10 by Moore az
Schley of New York. and George b Hill
& Co, OF Pittsburg, Pa. IL is intended TO
incorporate under the laws OF New Jer-
v.ff u1 o. ~
preferred and $50 100000 common stock.
The preferred will be "A s per cent. cumu-
lative stock, preferred both for liquida-
quarters for buying and selling and trans
portatiOn of goods will be in ST. Louis.
The Eastern headquarters will be In New
York city. The members OF the executive
committee residing i'm the East, with Mr..
Bindley. will manage the Eastern business
OF the corporation
1.-The Eastern Office will have charge
of the finances and Of the auditing and
insurance of the company well as the
general direction or all the houses In Mary
land, Pennsylvania, New York and New
England. The general buying for the com
pany Will be from the St. Louis head
quarters, where the larger contracts will
be placed. but the smaller buying will be
done by the local houges. The principle OF
home rule will be recognized I'm cOnnec-
ton with the local houses who will make
their own selling prices. except so far as
this may interfere with the buying de-
partment or the expressed wishes OF the
manufacturers. which II will be the policy
OF the company TO respect. Each house
will be held responsible for the results OF
its business. and If these are not satisfac-
tory the house will be closed up.
SPECIFIED ECONOMIES.
Apart from the fact that the COM
pany naturally expects 10 purchase goods
on the most favorable terms in view OF
the large volume they will handle. atten-
ton IS called to economies which will be
secured as the direct result of the combina-
ton. Among these the following may be
mentioned:
"'lAn the houses constituting the COM
pany will be in a position 10 avail them
selves OF cash discounts.
"A mutual insurance fund will be Gre
ated, and the sums which would naturally
be paid by the companies for insurance
under the present system will be paid into
".It Is estimated that at least slooeO
per annum viii be saved I'm the matter OF
catalogues
III is intended 10 continue the present
force Of statesmen connected with the va
rious houses. that existing personal re-
lations between wholesale and retail dis
tributers viii be preserved. There may
perhaps be gradually "A transfer OF sales
men from territory that II overwOrked az
present 10 other territory where the sales
mems efforts can be more advantageOusly
expended.
. AS al present constituted II is estimated
by the company that they embrace some
thing like two-thirds OF the distributing
efficiency OF the jobbing trade of the coun-,
try In the hardware line. They are content
that the other third should remain compet-
itors as 10 is not intended 90 mOnOpOlize
the iobbing business
I'm commenting editorially on the new
combination the Iron Age SAYS. Opinions
will differ widely In relation % the Wis
dom OF the action and the practicabiuty
of the scheme. IL Introduce new cle-
ment and presents new problems. Whether
II will be for the benefit OF the class IN
whose interest ia is formed and what viii
be It's influence on the trade AZ laree are
questions an answer 20 which may De long
delayed. IL may be UnQuestionably the