New-York tribune., 1918-03-30
u. S. Seizes Six
German Owned
Mills i'm JERSEY

WASHINGTON. March 29.-Six great
German-owned New Jersey woolen
mills, with total valuation of more
than $|0,OO0O00. have been taken over
By the Alien Property Custodian, who
has named governing boards of drec-
tors to assume control Of them. The
earnings Of the properties during the
war VIII go into the Federal Treasury
Tor the purchase of Liberty bonds
The mills taken over were announced
tonight by A. Mitchell Palmer, the
Alien Property Custodian, as follows:
The Passaic Worsted Spinning Mills.
the Botany Worsted Mills, the New
Jersey Worsted Spinning Company, the
foistmann & HUFFMAN Company and
the Gera Mills, all of Passaic, N. j..
and the Garfield Worsted Mills, of Car
field, N. J.
German Owned Mills
Selling agents Of German woollcn
ilrms IN the fatherland," said Mr.
ia!mer's announcement, years ago
built with German capital the first of
TINS group OF mills in order to escape
the import duties on woollen goods
they brought over German machinery
and German hands to operate the ma
chimes.
The first mill was successful from
lhc start, and the erection of l.ne others
soon followed in rapid order. The
same interests figure largely in all the
mlils. Large blocks OF stock are held
by influential members of the woollen
cartel in Germany.
"As the business of these Jersey
mills thrived and expanded they
formed, II appears, an association nom
lnaliy Tor the purpose Of securing cx-
perlcnced German labor but which
soon became close organization OF
offensive and defensive alliance Of the
German woollen interests in this local
lty. Members of this organization pur-
chased and conducted q daily newspa-
per, employed representative to look
OUT tor its interests at Washington
and to keep close touch upon the atti-
tude of the public sentiment in all
parts Of the country.
he Botany Mills, of Passaic. N. j..
did business of $28,000,0OO and the
profits ranged from 20 to 25 per cent.
me company is more than IS per cent
enemy owned
"The Garfield Worsted Mills are capi-
talized at S2,0O0,O00. Enemy interests
in them are admitted as high as AZ per
cent.
Capitalization About $4,35O,OOO
"The Passaic Worsted Spinning Mills,
the Gcra Mills and the New Jersey
Worsted Spinning Company may be
grouped as one, lnasmuch as MANY of
the same persons own stock in all three
of them. The total capitalization is ap-
proXimately $4,350,o0o Christian
bahensen, president Of the Gera Mills,
IS the managing directos in all three
or these plants. He has q son in the
United States National Army.
The Gcra Mills employ about 200
hands, was So per cent enemy owned
and has assets amounting to IS 1874 900.
"Thc New Jersey Worsted Spinning
Mills OF Passalc employs $4,000 opera
tors and has an enemy owned interest
OF 7S per cent.
The Passaic Worsted Spinning Com
pany has a capital stock of $500 900
and has maintained an average profit
of 10 per cent in the last five years
The stock Of this mill is 60 per cent
enemy owned.
"Thc Forstmann e. HuTmann Com
pany has two plants. one in Pas
sale and one in Garfield which to-
gether employ about four thousand
hands. In 1916 dividend OF Is per
cent was declared on s. 900 900 of com
mon stock, and d per cent dividend
on S250,000,o00 Of the preferred. There
Is a surplus IN different reserve funds
or this company amounting to $780,
100000. Officers report an enemy
holding OF " per cent of the common
stock and AZ per cent of the pre-
ferrcd."