Daily capital journal. (Salem, Oregon) 1903-1919, 1906-04-28

fact, he said that it sometimes occurs
temporarily as, for instance, in 1898,
when this quotation lasted for only 60
days.
Mr.. Rainey then referred to the now
famous great protection sale, al.
vertised by Charles A. Keene, a New
York jeweler Mr.. Keene is selling
Waltham and Elgin watches which he
bought in England cheaper than these
goods can be purchased in America.
Mr.. Rainey showed that American
made goods sent abroad could be
brought back without paying any duty.
He showed that the watch trust re.
quired retail dealers to sign an agree.
ment promising not to sell below the
the minimum price fixed in the contract
and that Keene buying abroad the
Waltham watch that had been shipped
there returned it TO this country and
sold it for $1s.9S, when the minimum
price for which that watch could be
obtained from a merchant dealing with
the trust was 500. Another style Wal.
than watch whose minimum price is
$35 was sold by Mr.. Keene for $25.3s.
Another style whose minimum price is
$24 is sold by Mr.. Keene at 1862 An.
other style, whose minimum price is
$50, is sold by Mr.. Keene for $42.30.
Elgin watches which under similar
contracts are sold by regular dealers
at minimum price of $35, are sold by
Keene $40 cheaper. Elgin watches
whose minimum price is $24 are sold
by Keeie at 1859. Mr.. Williams of
here interrupted to re.
mind Mr.. Rainey that similar contracts
were made by nearly all the trusts.
Mr.. Rainey showed that Jeweler
Keene had cabled abroad $3.50. 900
within fifteen months prior to the time
ne started his business, and that the
money was used for the purpose of
purchasing American made watches in
the foreign market. He said that he
held the American Express eompany's
receipts for this $4,000, and while
they were too bulky to print in thu
Record, he would hold the documents
in his possession and invited anyone
who doubted to inspect them. Mr.. |
Rainey exhibited a number Of watches,
showing the wide difference in the
price demanded by the trust from Am.
srican consumers and the price at
which the watch is sold by Mr.. Keene
from his stock of American watches
purchased in the foreign market.
Mr.. Rainey told Of a scheme conduct. !
ID, and successfully, by the trust to
'ut stop to Keene's enterprise. Re |
emily there arrived in New York 24OO
american made watches consigned TO |
Aeene. Keene's European agents had
'ought them m tho foreign market.
When these goods reached the custom
ouse the agents OF the watch trust
'ere on hand and they protested
gainst the landing Of these watches
laiming that 1900 Of them had been
dvaneed in value and improved upon
lille abroad by the addition of Swiss
ials, and were therefore not entitled
D admission free Of duty. Keene's
gents Investigated and found that the
'ateh trust, in order to stop the bus
less, had duplicated a dial used in
witzerland exactly the same color as
be dials made in this country and
milar in al respects, except the
'ords "Made in Switzerland" were
-amped on the back Of each of these
ials Because Of this fact 1900 Of
iese watches were refused admission
nd il was necessary for Keene TO re
lrn them 70 the foreign market.
Answering the Republican argument
'heerning the great benefits to this
'untry from the growth Of the watch