New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-19
Charges Indirect Cut.

The United Cigar Stores. in an indirect
goods at the same prices at which other
dealers sell them and giving away cou-
pons with each purchase. These coupons
are said 10 be worth cents. Having no
Intention of allowing them 10 practise
these methods on us, we reduced our
prices on cigars and cigarettes so as to
allow our customers cents cash in place
Of the certificates"
On Friday an announcement was made
IN the financial district from an official
source that there is to be an increase in
The price of cigarettes in the near future.
The fact that the United Cigar Stores
Company has already come out In favor
o. such a plan was recognized as evil
tsnce that it was no longer in fear of cut
throat competition from the Riker- Hege-
nan concern.
George J. Whelan, president of the
United Cigar Stores Company, made the
following announcement concerning the
published account of purchase of control
Of the Riker Hegeman Company:
THE statement is premature and mac
eurate. | have been looking into the
business as a personal venture, and am
still considering IT. II looks TO me good
opportunity for investment in very lu-
crative business. and l hope to be able 10
consummate the purchase Of an interest
for my personal account"
The negotiations for the purchase OF
the chain of drug stores by the United
Cigar Stores interests are understood to
have been carried on by President Whe-
lan Henry c. Frick. Daniel G. Reid and
George r Baker. jr., representing the
United Cigar Stores Company. and about
thirty minority stockholders Of the Riker-
Hegeman Company.
Less than $4,000 was involved. as the
common shares only were purchased, Of
which there are about $500, 900 outstand-
Ing. The price paid was said to be about
par Gl0O a share. The largest stock
holder In the Riker-Hegeman Com
pany combining preferred and common
stock holders. is understood 10 be J. 3.
COBB formerly a director OF the Ameri-
can Tobacco Company.
Whelan Has Cobb Shares.
It is understood that it is Mr.. Cobb's
hodihgs that the United Cigar Stores
company has obtained. Contrary to re-
POTTS. It was learned that his holdings
were acquired by Mr.. Whelan several
months ago, and that public announce
ment was withheld until this time.
me Riker-Hegeman Company has
'ons been known as a Standard Oil enter
p'Se' and for this reason the announce
ueht OF the REIMBURSEMENT of its control
zane as surprise to those who have al
"ays recognized the Standard Oil Com
Pauy as unwilling 70 part with any of its
'-osloiaries except az ordered by law.
sales OF the Riker-H egemen Company
SIC now running at the rate of $l6,0O0,0o
year and the company has in the neigh
'''nooo OF 100 stores. This year the
N''Hpany has been opening stores at the
e~ OF three every two months, and in
va u expects to double its capacity, ex-
ending the business throughout the
south and West.
The United Cigar Stores Company he's
a'O'e man 800 stores in various parts OF
e country in the retailing Of cigars,
ea'ettes' tobacco etc. Only recently
eri soda water fountains were In
.a.ied IN several Of the New York stores.
s"u plan is now being considered TO
'Shoy as another side line.