The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-08-17
BRIsI0W 2lEES AlDRICH.
KANSAS INsURGENT EXPOSES
ALDRICHs PERSONAL NTER-
EST IN TARIFF.
Tells OF Organization OF Interconti-
ncatal Rubber Company and Eff
focts OF Tariff I'm Producing Divi-
dcads For Aldrich and Friends.

Milwaukee. Wis. Aug. 12.--United
States Senator Joseph l.. Bristow OF
Kansas in his speech here tonight,
which he stated was in reply to let
ter hast night 20 Senator Nelson w.
Aidrich. launched into the subject by
saying. Senator Aldrich declares that
the Intercontinental Rubber company
10 not a trust and at the same time
admits II Is holding company"
Senator Bristow then took up Mr..
Aidrich's declaration that neither he
nor his family had profted directly or
indirectly by the tariff on manufac-
tured rubber, yet" Senator Bristow
said. ''he admits that he Is producing
millions OF pounds OF crude rubber
per annum. selling II TO American
manufacturers and that they increas-
ed duty on their products when they
did not need II for protection"
First Point.
Going into the question Of the or
ganixation of the Intercontinental
Rubber company, Senator Bristow
quotes Mr.. Aldrich as saying that the
Continental Rubber company was or
Frnized under the laws Of New Jer-
sey January 20. 1908. and that the
Continental Rubber Company Of
America was organized under the laws
OF New Jersey January 8. 1906. and
further that "Mr. Aldrich says that
the first two companies named were
subsidiary companies OF the In
tercontinental company and that II
owned all of their stock and that they
were organized for the sake of con-
venlence." .....r .v.~
Mr.. Bristow asked: How could
they be subsidiary companies of the
Iatercontinental Rubber company and
organized for its convenience when
both of them were organized before 1t
wss7"
"Wberc Did You Get It?"
"He admits that dividends had not
been paid before the consolidation OF
the various companies into one and
that after the consolidation enormous
dividends were paid. as stated In my
speech.
~He says. Tt isn't true that there
was an increase i'm the rate in para
graph 463. which includes certain
manufactures of linda rubber with
other items and II is true that 1 am
a stockholder and director in the In
tercontinensal Rubber company, but
none OF the other statements referred
60 contain a single element of truth ?"
''Now what were the other state
ments made? I stated that the Con-
tinental Rubber company was organ
fxed under the laws of New Jersey.
January 20. 1903. That the Conti-
mental Rubber Company Of America
was organized under the laws of New
Jersey, January 8. 1905. and that the
Intercontinental Rubber company
was organized under the laws of New
Jersey. December s. 1906. Now Mr..
Aidrlch says that the first two COM
panies named were strictly subsidiary
companies OF the Intercontinental
Rubber company and that 1t owned all
sf their stock and that they were or
ganized for the sake OF convenience.
Admits This Point.
'T stated that this intercontinental
company. after these mergers were
completed. had within three months
and four days paid on it's preferred
stock dividends aggregating 1872 per
cent. This Mr.. Aldrich in substance
admits.
'T stated that the Intercontinental
Rubber company owned the capital
stock OF five other companies In ad-
dition to those absorbed. This Mr..
Aidrich admits.
The company owned a controlling
interest In the capital stock OF the
American Congo company. organized
through the concessions given by the
Beigian government. This Mr.. Aldrich
neither affirms nor denies.
'I stated that since the tariff bill
passed and since the absorbing Of
these other companies by the Inter
continental Rubber company the
price OF manufactured rubber has ad-
vanced TO the people OF the United
States about 25 per cent.
One Thing Barred.
"dr. Aldrich knows that the Gug-
g'nheins. Thomas r. Ryan. RI. r.
whitney and himself are the control
ling influences In this 1ntercontlnental
Rubber company and under it's char
ter II IL empowered 10 transact any