Omaha daily bee., 1902-04-10
HARDWARE COMBINE FORMED
Big JObbing Concerns Consolidate with Main
Headquarters at St, Louis,
EASTERN OFFICE IS IN NEW YORK CITY
capitalization L. Fixed At one Hum
dred and Twenty million Dollars
Incorporated Under Laws of
New jersey.

NEW YORK, April s.-Authoritative an
nouncement OF a consolidation Of the great
hardware jobbing interests Of the country.
capitalized at 1920, 900, 900. will be made by
the Iron Age in its current issue tomorrow.
The consolidation embraces the Simmons
Hardware company at st. Louis, Bindley
Hardware company OF Pittsburg. William
Bingham company Of Cleveland, supplies
Hardware company Of PHILADELPHIA. Pacific
Hardware and Steel company Of San Fran
cisco. Marshall Wells Hardware company
Of Duluth. Bigelow & Dowse company Of
Boston. Van Camp Hardware and Iron COM
pany Of Indianapolis, George Tritch Hard
ware company Of Denver. Janney. Sample.
Hill & Co. OF Minneapolis and forty other
houses, representing nearly every import
ant trade center Of the country. Nego-
t~iations are still pending with other
houses and it is expected that there will
be further accession 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 COM
rany, National Hardware and Metal COM
pany. International Hardware and Metal
company, and there is little doubt that
one of these will be chosen. The organ
/ AEdNlOn " bNAhb NNNulASdh9 NOhpACNNus
there has been no formal choice Of officers.
1t is purposed that the ~of1ciRls shall be as
follows:
Probable List of OmcIsIs.
E. c. Simmons. PRESIDENT; John Blndley,
vice president, and w. d. Simmons. chair
man Of the executive committee. There
will be a board of directors, consisting OF
from twenty-five to thirty persons, repre-
~senting the different sections OF the coun-
try. There also will be an executive COM
mittee of nine.
The financing Of the company is attended
to by Moore & Schley Of New York and
George b. Hill & Co. of Pittsburg. 1t il
intended to incorporate under the laws OF
New Jersey with a capital of $120, 900. 900
$40, 0OO, 900 preferred and s 1000, 900 common
stock. The preferred will be a 6 per cent
cumulative stock. preferred both for liqui
dalton and dividends. The general head.
quarters for buying and selling and trans.
portation Of goods will be in st. Louis. TIL
eastern headquarters will be in New York
The members Of the executive committed
residing in the east. with Mr.. Bindley, will
manage the eastern end of the corporation
Function of Eastern once.
The eastern office will have charge Of tbs
finances and the auditing and insurance o.
the company. as we'll as the general direc,
ton of the houses in Maryland, Pennsyl
vania. New York and New England. IN,
general buying for the company will b,
from the st. Louis headquarters, where tn,
larger contracts will be placed, but tn,
smaller buying will be done by the loca
houses.
The principle OF home rule will be recog.
-N.A1 - IL -
which will make their own selling prices
except so far as this may interfere will
the buying department CT the expressed
wishes of the manufacturers, whom it viii
be the policy OF the company to respect
Each house will De held responsible for tn,
results Of its business and IL these are no
satisfactory the house will be closed up.