Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1909-07-22

q take over the United states Leather
and they proceeded 70 elect
Armour's rieht-hand and confidential
nan, Mr.. Darlington. as a director to
Mr.. Armour I know Mr.. Oar
we'll. and am pleased to count
him as n friend. For thirty years he was
Phil Armour's confidential man. They
aid not elect Phil Armour as a director,
but Phil Armour's best man was there
to represent Armour & Co.. and Armour
Co. were invited TO tokc over the con-
Germ.
Mr.. Warren. Did they DO III
Mr.. Page. No; for when Armour's rep
resentative came TO look over the assets
he found there was too much water. and
said he would not touch It. Tho
Leather company. as I have
said, had been organized 10 finance the
United States Leather company, but
they came to make the hnal
some OF the stockholders Of the
United Stntes Leather company refused
to ratify the proposed change md would
not accept what the new company Of
fered to give them. and Mr.. Armour hav-
ing quietly folded his tent and stolen
the company stands to-day ne It
did then, with those deferred cumulative
dividends wholly or in part unpaid. 1t Is
my Judgment, that they do not produce
over one-fourth Of tho solo leather made
in this country to-day.
II is true that the Central Leather COM
pany is worth 100 cents on the dollar.
They have simply put In the money to
finance this concern, and I would not be
surprised II the stock of the Central
Leather company should pay It's divi-
dends regularly out of It's connection
with the United States Leather company;
but that does not change the fact that
the United states Leather company Is
~. a p'NP''o"'' ',c.ol"I ~
u" '.e' az, "'"S 'u'e'iit'.' NV
"'o w NV. Ue'VN, NV. nv I"s"."s 20
PER te",' " we S',e ts''"e' P''""09N III
''o ''''cI "'''es "uN'
"""t ~ ""' "r''
voars arm the s-r,r, conparv had n car,-
.arzotion Of 10000 Three or four
yoars ago thcv wanted 10 increase their
h,isiness. and ,hev said To the riblio.
two should like to have Won take 10000
rA If orr s,ocl," II vas taken IN a
.vink,,nc and ,he,. r,,sed th,er co,,.ol
TO SO 90 dno. very short time a<te,
.tev sa,d "we ront moro can,ta,. We
vo,,h IKE m increase our stock from
,vventv 20 ,h,r,. milton do,lare." I. was
taken worry roodlv. A little ,a+e~ thew
said. i've want IN ,,crease orr can,ta1
10 s5o,ooo.o"o." II vas readily taken. I
80 not tnow whether the capital to-day
is fifty or sixty milton dollars: but Mr..
President that stock has gained in one
year in value slh'fo.hn. ana to-day you
can not buy Il fo- less than l2o. u is
one Of the big corporations, and It can
90 ont into tho markets OF the world and
wants TO.
Think of nho, tho indenendent tanner
has IN ,ho svi+te and the Armoprs 70
~oor,o.o ,.,.I, - c--r,.-cr with No
United States Leather oon,nanv or the
American TTiIe G ~eather oomneny
tbesa Ch,cag m concarns are IKE giants
n rtemies
rake Armour u CO. -. ave req" 'ne
IlS'oFE OF tn, armour. N '"e
In ". 49,. -s s., .a,...,,
~ .oo. e. r.a,,sorr,o o,a h.-, ~ A.,
d,oho. r.a,sna o.o,ur,...d , ,.-, Al.
lars ia c,n,s tacl and he,,n - h,r q
few cattle. To-day the capital OF Ar.
mour e. Co. 3 so large that his wife and
children do not really wish 70 publish II,
hui. II is generally believed to be from
eightv-6ve to one hundred and .en mil.
lion dollars.
49,.
-" t ~.
oa"n' "a ms ,V"' w.
"0',' .ApI'"i' a"n Wv
.""A'la !" nn - n" ~"
nv p ~ NV
i"N' "os.on Wv - % :. q &c.
W .""' $1,000 '""' "N~s -
oe' w"
~ - .'"N
.I'' 800"
'-
''1t"+' " va" ~,
nv - ~ 80
~ y, S
~ n.'. 49,.
49,.
- ..a .~. ...
$780,, .. ...-
'' - ~
Let me say Mr.. ffAsident' ira, "he'
l was a boy u years old began u
hancle hides ana for more than 81 year
l lave neen deahns IN mat commonly.
For more than 45 years I have alone
In my own name and at the same place
been handling hides. have rubbe'
against these independent tanners a Srca
deal. l can say. I think. that not
single tanner Of prominence. not a singl
hide dealer Of prominence. that was /
business when ] commenced dealing i
hides Is In existence to-day. Some q