New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-01
FORM BIG LEAD MERGER.
SeUen Guggenheim Brothers absorb
the National COMPANY.

After wears Of negotiations a deal hss just been
consummated by which the seven sons Of Meyer
Suggenheim. who died few days ago. together
with interests allied with them. win control practi
csly an 81 the lead industries ~ the country This
has been achieved by the union of the National
lead Company, commonly known the White
lead Trust capitalized A. S3o.nooooo. with the
United Lead Company q Gusgenheim concern. the
total authorized capital stock which S25 Oop
To-day or on Monday these companies win issue
formal statements giving the details Of the
Whaf Win he fhe total capitalization Of tho holding
company could not he definitely determined yester-
CAY hut Wall Street put il at about $40 ooo.ooo
The consolidated concern win he known the
National Lead Company President Cole and most
OF the other officers of the present National Lead
Company viii hold the Offices in the
COMPANY IL Is said. The Guggenheirns. however
VIII dominate The directorate
Ever since the Guggenheims became the dominant
fn0iors IN rho American Smelling and Refining
Company. known as the Smelling Trust. they
hoVe been planning 70 obtain control ~ the lead
industry. which is one Of the most profitable in the
country Through the Guggenheim Exploration
company. which later taken into the Smelling
Trust the Guggenheim interests came to dominate
the Ing lead business Of this country, which aggre-
gates about $4,000 tons year valued AT about s25.
90 o0a % which $4,000 turned into meehan-
ical products. such sheet lead lead pipe, solder.
bullets. shot. etc. and the other 10000 ions into
chemical products. including white lead and lith-
srge.
Attempt
icaa Smelling and Refining Company 20 get con-
troll of the National Lead Company. which makes
about 60 per OF the chemical lead products Of
the country and about Is per cent Of the mechanical
products In the mean time the Bailey process of
obtaining white lead discovered. and Thomas
F. RYAN and his son and Homer Wise. president Of
the Grove IAnseed OH Company, OF Philadelphia.
bought Up the invention and organized the Union
Lead and oil Company. With this concern they
began 70 combat the National
-H.,H--.e h. unity
they desired They sent men East and West, buy
inz up companies manufacturing the mechanical
products OF lead and then effected combination
with the Ryan-VYise concern. which gave them con-
Of about 6 per cent Of the mechanical product
business and Is per cent of the chemical At the
came time they put pressure the National, by
moving UP the price OF pig lead whenever the Ma
tionsl wanted buy. The Guggenheims thus COM
hated their rival from two sides-by controlling
their supply OF lead and by going into active COM
petition with them. 1t then became evident to the
National people that some sort Of union was in
eyitable.
One OF the points agreed IS that the new
company is TO have 100000 worth Of additional
preferred stock, which is be given dollar for
dollar for outstanding per cent bonds Of the
United Lead Company The United Lead has
total of 100000 OF such bonds, and the 100000
remaining are 10 be guaranteed by the National.
il is for this reason that those on the INSIDE OF
the deal have in the last few weeks been buying all
the United Lead bonds they could get hold or
with the consequence that the bonds have advanced
about points.
According 10 an ofhcer OF the National, the con-
solidstion need not alarm consumers As be SAID
The combination will control the market, 10 pc
sure but Il does not intend 10 boost prices. w, We
sre going make better profits without doing that
Fvnerses OF operation viii be considerably re-
duced Useless plants will be abandoned ana the
working force WIN be cut down Both the eNatonal
and the United. even when in competition, nave
made money the former always paying per cent
5iyi6ends on its preferred stock and the latter
Ter cent on its bonds. BY a union pronts VIII
naturally be increased
The officers Of the National Lead Company are:
I,ucius A. Cole president: Charles Dawson, secre-
tary. william ". Lawrence. treasurer; A. p
THOMPSON. Reginald +. Rowe, George q. Carpenter,
FLETCHER ~. Rockwell Walter TUFTS. William "
Lawrence. Edward r. iSeaig John A; stevens.
Charles r. Wells and r G. Goshorn. directors. Its
ofices are az No. 100 Wflliam-st. The United Lead
Company has the following officers: Barton Sewell,
president: John r. Wettsten. secretary, Thomas j.
Philiips treasurer: Solomon r (5uggenheim. Daniel
t5uggsnhsm. Morris Guggenheim, Grant Hugh
Browne, = v Nash and L. r. Hoyt. directors.
The conpany's Offices are az No. 4 Broadway.