The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-21

BY Publishers Press.
~ HICAGO. Oct. 20.-The, announces
4 ment from New. York that an
English holding company is be.
ing formed to take over all the Ameri>
can packing plants bears out rumors
which have been current in La Sale
street for several weeks. For some
time the activity in the shares OF
Swift & Co. on the local stock exc
change has attracted a good deal of at
tention. The street tried to explain
the steady buying Of all the stock that
was offered on the market and was
content to believe that pool was op-
Grating in the shares for solely specula-
! tive purposes.
Inquiry at the office of firms which
might undertake the financing Of such
a gigantic corporation whose capital
| readily would run to 100000, 900,
elected almost no information. It was
ascertained, however, that the pro-
tracted visit of Sir Thomas Upton in
this city has significance more than So
cial.. ....-- -s,-s> .--s.
Like Steel Corporation.
| Now it is stated that conferences
have been held here at frequent inter-
walls at which the chief packing house
representatives have been present.
What has been accomplished cannot be
learned from the men interested, but
taking the New York report in connec-
ton with those heard locally it was as
sumed in La Sale street today that
the negotiations look to a purchase of
minor companies which heretofore have
not been. considered part of the Big
Six.'' Rumor says that already there
is a. consolidation agreement Of some
kind between the Swift interests and
the Armours.
The significance Of such movement
lis that one corporation will conduct the
packing industry Of the country, much
as the United States Steel corporation
guides that in iron and steel.
-, Is Logical Course.
| A national merger Of all packing con-
Germs has been logical economical
possibility and even probability for
several years. In 1902 the United
Estates Packing company was all but
organized, with prospective capital Of
$500 900, 900 for just such a purpose as
that outlined now.
Kuhn, Loeb & Co.. were to have
financed the project and would have
done so had not tight money period
Of 1902 and 1903 caused such stock
market disturbances that the negotia-
lions were abandoned.
When the deal fell thru there was
the necessity Of taking care Of the
concerns that actually had been
bought up to put into the merger.
National Company Formed.
To make these companies carry
themselves, the National Packing COM
pany was formed, with capital Of
$15,OO0,O0O to absorb them. This com-
pany is the one, which, from time to
time, has been supposed to show that
a beef trust exists by reason of the
association Of Armour, Swift and Nell
som interests on it's board.
Louis F. Swift Of Swift & Co., was
at his Lake Forest home, but would
not discuss the statement that the rise
In the stock Of his firm at last had
been explained.
Edward Tilden of the National
Packing company declined to discuss
the matter. No information about
the proposed merger could be cleaned
from the members of the firm Of
schwarzchild 8 su1zberger or Nelson
Morris & Go.
Packers Deny It.
Chicago, Oct. 90 Chicago packers
today denied the dispatch from New
Continued on Cd Page. 9th Column.