St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1902-09-24
HOE AND FORK MAKERS COM
BINE.
The Ely Hoe and Fork Go. Becomes IN
Part of the American Fork and Hoe
COmDany.

The Ely Hoe and Fork Go. Becomes
Part of the American Fork and Hoe
| Company.
The Ely Hoe & Fork Company is now
a part of the American Fork & Hoe Co.,
a corporation organized recentlya Tren-
ton, N. l., with a capital OF $4,000, 900.
The new combine embraces 16 out of the
18 factories engaged in the manufacture
of hand farming tools and as these fac
tories control over 90 per cent OF the
total output it will be seen that the com
bine practically controls the trade. Its
factories are in Iowa, Michigan, Tennes-
see, New York, Pennsylvania, Ohio and
! Vermont
The new company is simply a consoli-
dation of existing companies, rendered
expedient by the rapid advance in the
price of steel, which enters largely into
the finished product OF the companies, as
well as the advance in the price OF han
dies. The constantly increasing cost OF
raw materials so largely cut into the
profits of the companies that the
manufacturers were forced to take
steps either to cut down expenses in
some way, or else to raise the price of
farming tools. In order to maintain
prices at their present level and still
make a reasonable profit on their pro-
duct, the manufacturers felt compelled,
about year ago, to agree among them
selves, and adopt system OF co-opera-
tion in curtailing the expenses OF man
agement, and largely do away with the
losses caused by indiscriminate competi'
ton. The results OF this arrangement
proved so satisfactory to all concerned
that they determined upon a more COM
plete Capitalization OF management.
The reason assigned by the promoters
is that they believed that they could in
augurate certain economies, and cut
down operating expenses better under
single than a diversified ownership. The
economies referred to are a smaller exec
utive and Office management, and more
especially, lessened freight expenses in
distributing the product. Regarding the
effects of the combination upon the
prices OF farming tools, it is the intention
of those largely interested as stockhold-
ers to maintain, so far as possible,
price on the goods which shall pay, under
economic management, a fair return on
invested capital and at the same time to
: protect the interests OF the farmer in the
matter of price against an advance.
A direct result oil the combination will
be branching out, and especial atten-
ton will be directed to a systematic,
energetic commercial invasion OF foreign
countries, especially in Europe, where, it
! is conceded, the superior advantages po-
sessed by American hand farming tools
over the crude implements used by con
: tinental and European farmers will give
= the farmer tremendous advantage over
tools of European make.
The Vermont companies in the COM
bine are Batcheler & Sons Co., Walling-
ford, French, Watson & Co., Hartford
and Ely Hoe & Fork Company. The
latter company will now be known as
The American Hoe and Fork Co., Ely
Works. Henry 6. Ely said yesterday
I that although some of the factories
t would be closed, the local works will be
operated under the same management as
before, and instead OF the output being
: restricted, it would probably be material
f ly increased.
+. The executive officers of the corpora
ton are: President, Gen. W. H. Worth.
ngton, Jackson, Mich; vice-presidents
J. W. H. Cowdry, Ashtabula, OHIO, F. l.
d Andrews, Gerard, Penn, F. S. Kret
q singer, Fort Madison, Iowa; treasurer
l. L. Evans, Columbus Ohio purchasing
director, T. H. Russell, Geneva, Ohio
h Auditor, l. W. Lowell, Jackson, Mich
l. Mr.. Ely is member of the board o
: directors. The central office of the com
bine is located at Cleveland and tn
% offices of the treasurer and accountant
e are there.