The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-27
REPLIES TO RAINEY.
,uoWsTHERE rs NO SUCH THING
As A WATCH TRUST.
.. MARKET In Europe for the Better Grade
N American Watches-ReimpOrted
watches Must Necessarily he OF the
very Cheapest Sort keene's Prices.

very Cheapest Sort keene's Prices.
. u~,szrydroN, April 2s.-Mr. Boutell of
ui,ois opened the second days general
4.h.te on the Agricultural Appropriation
IN !, an hours speech, nominally in reply
y :. ma. Of his colleague, Mr., Rainey, upon
,Ss exactions and expressions Of the watch
80 in which Mr.. Rainey had used as an
Ht,,tration the experiences Of a Broad
m w. dasler, and Mr.. Boutell's speech was in
..n,iderable part devoted to an exooriation
y ,be dealer, who occupied a sea in the
,.,lev and heard the not altogether pleas
-, characterization OF himself INDUCED
IN nv the speaker.
In the latter part of his speech Mr.. Bou-
MI adverted to the charge made by Mr.,
R,pey. that certain watch companies were
10 a trlst, and that the dealer referred to
.urrhssed abroad thousands" of American
catches, which he reimported, and was
ria IN sell here at a profit for less prices
han we're charged to domestic dealers.
a. submitted statements from the presi-
I.,ts Of the companies named denying
,h,t their corporations were in a trust.
NJ. Painey-Did the gentleman expect
,h,t they would admit it2
Mr.. BoutAll- Well, my colleague must con-
.de that rhere are honest men even in the
watch business 49,.
NJ. Rainey-That Ia what we thought
,hort the beef packers in Chicago who
danjed that they were in a trust.
As to the claim that all the watches in
r,estion had been exported and then re-
imported. Mr., Boutell quoted the companies
nkcars n the effect that none Of them had
Neen exported, and that the prices quoted
nv the dealer netted him a profit in n
me as high as Ill per cent. and were no
bver than other dealers would charge.
The records show, said Mr., Boutell, that
,bs ~reimnorted watches must necessarily
s Of the very cheapest grades, gilt, not
rod cases, n of the companies having
srnorted hut thirty-seven high priced
Watches since 1901. There was no market
/, Errore for the better grades of American
watches
Mr. BouteIl read a letter from the officers
q the Natchmakers' Union, Elgin, ILL.,,
transmitting a resolution OF that body
protesting against any reduction or re-
moval Of the duty on watches.
Mr. Williams-Has the gentleman pro-
psts from any purchasers of watches?
Mr.. Boutell-I can only speak for my
sf This watch, Exhibiting It'll which I
purchase in 1874 for SIS. can now be pur-
chased for SIS,
Mr. Boutell spoke in part as follows:
Neither the Elgin National Watch Company
-.L. uFaI.ka.. u-o.oI rpn,F.nNr
taparty 10 any trust. Neither of them
,~rs stock in any other watch or watch
ate company in the United States, nor is any
athe stock Of either held by my other COM
,iny named by Mr.. Rainey in his speech.
yAther of the companies has any watered
rock. nor does either company nay excessive
dividends. As 10 the forms of contracts
rhith Mr.. Rainey referred to as being used,
ne BY the Elgin company and the other by
tie Nathan company, he has been entirely
zlsinformed as 10 their origin, the extent
N which they are used and the necessity for
their use. These contracts. which differ
'rdely from each other. relate solely to
railroad movements meaning watch move
sold chiefly to railroad employees.
these railroad movements do not ex-
|rtd 4 per cent Of the total output OF either
III the companies. There are no contracts
Establishing any standard retail prices as to
he rest of the product Of either company.
This system Of contracts WAS adopted by
|he Elgln and later by the Walthsm
rmpany at the urgent request of retail
~l.ajers generally throughout the country
The reasons given by the retail dealers were
Mar the so-called railroad movements"
lbould be sold at standard prices. because
they are largely sold upon the instalment
and also with the obligation on the part
oithe jewellar TO mske frequent examinations
HI the watches for a long period of time
under the rules of the railroad companies.
contracts make no difference in the
profits Of the manufacturer or jobber.
Mr.. Boutell then took up Mr.. Rainey's
assertion that various Elgin and Waltham
watch movements are sold by Mr.. keene
tt extremely low prices, and said:
NJ. Rsiney did not call attention to the
fact that Mr.. Keene does not sell a watch
|novement without a case. and that he does
pot. generally speaking, advertise the price
III the cases. The evidence furnished me
|.hows thai. generally speaking. Mr.. keene
tids ~ The price Of the warehouses all that
he apparently takes of the price of the move
ntnts. The only real test is TO take the price
NJ complete watch sold by Keene and com
pure IL with the price of a reputable retail
ttaler for the same complete watch. l
9A,ve here p number of exhibits which will
Illustrate my point very clearly. The first
rs two bills from Keene for complete watches
purchased from him at s2S each, either OF
Which ran be purchased, I am assured. from
my ordinary retail dealer for not to exceed
u ! have also here six Waltham move
rtnts in various styles of cases, with the
~tfdavts nj the persons who purchased
hem, and In most cases the receipted bills
Which were rendered with the watches.
have also an af1davit from the proprietor
y 4 E. Benedict 4 Co, IS Bowery. New
itrk, stating the price at which he would
nl the same entire watches in the ordinary
course Of business. from which it appears
3hst the prices Of 4, C. Benedict q Co. for
no Of The watches are the same as those
n Keene and for three of the watches are
nuch less than those Of Keene, and in one
nsttnee only IL Keene's price less than that
n Benedict.
VI, Ralnev asserted that all the watches
heene's store had been ~reimported from
AsAnd, As q matter of fact, only a very
Enal part Of them. and almost nom of the
Hsh grade movements were ever so imported,
meet Of them being bought in this country.
i Shown by the following facts and by much
yer evidence. In one or more of Mr.. Keene's
fartrttements it has been asserted that he
Poafht abroad within two years thousands
all grades Of Elgin watches, including the
Ish Veritas. a twenty-three and twenty
~ Jewel, and Elgin B. W. Raymond and
4 snef Time The fact is that within the
~ nve wears not a single Elgin Verltas
'eaW'three level or Elkin B. W. Raymond
y been exported to Europe. and only thirty
. m oil Of the two other grades mentioned
exported by the company.
Ataih. ! have just exhibited six watches.
IA le 81 these siY watches were mid in this