The Savannah morning news., 1903-08-15
new SCHWAB TRUST
EX-PRESIDENT OF STEEL CORPOR-
ALTON WILL GO TO TAILORING.
ONE BRANCH IN SAVANNAH
is TO BE ESTABLISHED, AS WELL
AS IN ATLANTA AND AUGUSTA.

New Concern to BE Known as
United TaiIOrs-Win Begin Opera
lions in New York Aug. 22-One
Hundred stores Will he Opened
in That City-Others Will Follow
in Every City Having "A POpuIa-
tiOn of $4,000 or MOre-BiE school
VIII BE Established in New York
to Secure Hands.
New York, Aug 1.-THE latest trust
is a tailoring trust, and Charles M.
Schwab, the steel king and million
aire, is behind it.
The facts came out to-day when p.
A. Schwab, an uncle of the former
president of the steel trust, and David
]. WEIGH, for many years the right
hand man of big wooden mill con-
Germ, began to make contracts on a
mammoth scale Both these men have
spent many years in this line of bust
ness and are experts.
Charles M. Schwab is known to have
millions invested in several enterprises
outside of the steel trust, but it was
a great surprise when it was learned
that he is to supply the enormous
capital to operate the gigantic combi-
nation in the tailoring business now
in the process of formation.
The trust, under the name of THE
United Tailors," will begin operations
on Aug. % in New York city, open
ing seven stores simultaneously. These
will be increased from day to day un-
til a hundred retail branches are es-
tablished In Greater New York, where
there are already $4,000 tailors.
Branches will also be Immediately
established in the big cities throughout
the country. and extended as quickly
as possible to every city in the Union
of $4,000 inhabitants.
Branch in Savannah.
Savannah, Atlanta and Augusta are
the principal points selected in Geor-
gia. In two years time the trust eX-
poets to have this vast chain Of
branches in working order, and will
then be giving employment to half
million of men. A great central school
will be established in New York, at
which cutters, choppers, trimmers and
statesmen will be educated, and then
sent out throughout the country to the
branches where they may be needed.
The trust will so soon as possible,
own its own mills, both here and
abroad, AT present il has secured the
output of one mill in Massachusetts,
and is now negotiating for more.
The formation of this immense COM
bination was proposed to Mr.. Sohwab
by his uncle and Mr.. Welch over a
year ago. At that time, however, he
decided that his work in connection
with the steel trust was too heavy to
permit him to go into the details of
any concern with such huge plans.
Some months ago, however, when he
had determined to resign the presi-
dency of the steel corporation he again
took up the subject of a tailoring
trust. He has been studying facts and
figures for several months, and on
the day he resigned the presidency of
the billion dollar corporation, he ac-
cepted the responsibilities and hard
work attached to the new COM
bination.
A majority of the details will be
worked out by Mr.. Schwab himself at
his offices at No. II Broadway, where he
has an entire floor of the building.
What immense sum the capitalization
is not known, but it is believed that
the new trust will be a close corpora
ton. c. M. Schwab could not be seen
to-day, but Mr. P. A. Schwab and Mr..
WEIGH verified the facts as given.