Show i lflTfR TO MAKf LOCOMOTIVfS iiI SAID TO HAVE PURCHASED RHODE ISLAND WORKS WORKSJ Price Paid Near a Million Dollars He Represents Syndicate Bent On Monopolizing Big Plants New York Oct 29 = A5speciiil l to the Times from Providence says It Is stated 01 authority which appears to be unaue3t1oned that Joseph Leiter of Chicago has purchased the Rhode Island locomotive works and that It Is his purpose to begin the manufacture manufac-ture of locomotives under the patents the concern holds and also manufacture manufac-ture the 1Yheelock stationary engine under patents owned b3 a Chicago firm The price paid for the property cannot I can-not be learned but it Is thought to be near a million dollars Mr LeiteI is understood to represent a syndicate of crro g I rich iron and steel men who are bent upon monopolizing all the big plants like the Rhode Island locomotive works He has been in this city during the lUst two weeks on three different occasions oc-casions and each time he stopped at the exclusive Hope club This was probably In pursuance of the policy of the people Interested to keep all Information Infor-mation regarding he deal from the public Eugene Mason who bid the property In at the last sale said as far as he knew no definite plans were under W3 Herbert J Wells president or the Rhode Island Hospital Trust company which is trustee for the locomotive works wag seen atlthe bank and while he did not say that there were no plans for a sale of the property under consideration con-sideration he did say they had not reached a olnt where he cared to doan do-an talking about them He seemed somewhat surprised that any Information Informa-tion of the deal had become public and declined to state with whom the deal was being effected either in behalf or thQ owners of the property or the prospective pros-pective buyers At one time the Rhode Island locomotive locomo-tive works formed one of the largest manufacturing concerns in the state The plant was originally built for the manufacture of the Burnside rUles and during the civil war many thousands of arms were made Then locomotives were made here and sent all over the world but trouble came and the concern con-cern failed Since that time it has beEn practically Idle At the sale or the property last spring one of the bidders bid-ders was Frederick Sayles ot Pawtucket Paw-tucket who wanted the property to turn it into a cotton manufacturing plant But evidently the price was too high and Mr Mason representing the bondholders bid it In The capacity or I the factory is large When running on fIf rrti m1 nf J full time it gave employment to 10001 hands |