The Providence news. (Providence [R.I.]) 1891-1906, 1905-07-01

Believing that better results could be
obtained OF the silverware producing
business Of the country was relieved Of
some OF the. competition which had re-
suited i'm lower prices than the goods
should bring, plan was set on foot 10
combine the several companes-not i'm the
form OF trust but by direct purchase.
which would reduce top expenses. such IS
are incident 10 the management OF the
business.
Other great industries had been so con-
soidated. with most beneficial results as
shown by returns from the dealers, in
creased profits and consequently better
dividends 20 the stockholders.
Quietly stock was picked mp here and
there until controlling interests In the
Reed & Barton, the Whiting and the Dur
kin plant. the latter at Nashua, n II.
were secured.
As before stated in these columns the
Gorham company was 10 he tho parent
plant, and this is proven by a letter head
recently received from New York. which
reads THE Sllversmiths (Gorham) COM
pany"
To secure control OF these works Mr.
Robinson covenanted with Mr.. Holbrook
for the latter's stock which consisted OF
5000 shares Of the common
On June 18th Mr.. Holbrook signed an
agreement in writing to transfer that
stock To Mr. Robinson. and the delivery
was 10 have been made last Thursday.
Expecting that the contract would he
kept Mr.. Robinson on the proper date
and at the proper place, personally ap-
peared with the large sHH4-ef money
necessary 10 complete the transaction and
made tender of the funds
He was unable to obtain the stock. and
then had recourse 10 the law 10 compel
Mr. Holbrook to make delivery thereof
While Mr. Rognson's name alone ap-
pears I'm these legal proceedings. IL is well
understood that he was acting for the
syndicate. the members OF which intended
10 re-organize the Gorham Mfg Co. and
20 operate companies that had been and
others that were 10 he absolved I'm the
manner above described.
In this syndicate are MIR Marsden J.
Perry. Senator Nelson w. Aldrich, Hon.
George l.. shepley and others well known
and shrewd business men.
II Is understood that the refusal on the
part Of Mr.. Holhrook 10 part with his
stock will not interfere with the plans Of
the syndicate
The proposition r. good one n does
not infring upon the antitrust law and Is
not one that will injure any OF tho hold
ers OF stock Of the several companies.
On tho contrary III Is ClalIneu III VIII 'n-
hance the value OF their holdings and be
OF benefit to those who are working In the
sllversmiths trade
The latest rumor Is that the Gorham re-
organization Is already a fact; that Mr.
Robinson has been made president and
Mr.. shepley the vice president OF the
company.
Mr. Perry is n man OF great executive
ability. This Is shown by the rehabilitation
OF the Narragansett Electrical Lighting
Co. which was run unproftably and was
not beginning TO occupy the field then
awaiting development.
Mr. Perry acquired stock and where
others failed he scored success
Following that masterstroke came the
equipment If the Union Railroad com
pany and the development of the Rhode
Island company OF today.
Froma horse railroad system of neces-
sarily limited service and restricted ter
ritory tho plant was made grow In every
direction.
Sections ~ the state which for physical
reasons could never be reached hy steam
propelled trains and which appeared des-
tined never 20 feel the awakening inhu-
srceof railroad. were penetrated. iso-
lated communities we're brought In direct