Show EFfECT OJl Y O fN JOUST MANS JEAR COTH A 1Owl WAGES Trust Still Baise Prices By Curtailing Curtail-ing roductonMil Will Be Run On Elf Time New York M rch 7The Tribune says The formaton of the American I V olen comp ny v1l a capital stock of about 50000OOOfor the avowed pur I pose of controlling or regulating the manufacture ofJ kvbblens 1f this oun try has Interested the merchants OL the dry gods district bf this city and set them talking about the new comblna ton of mills Several oC tem saId that the reports indicated that most of I the laige companies engaged in the manufacture of wOolens were taking stock in the nOw company and the smaller manufacturers probably world be compelled to join in the movement for their own protection because the new company would be able to make the price for domestic woolens The companies which united last Thursday I to organize the American WOolen corn pany own about 5000 of the 75000 woolen wool-en looms in this country but their re I latons with other companies were such as to male them sure that the combination combi-nation would havegeneral support in hthtrIli Noimmediate advance in the price of 1 woolens may be expected on account of the formation of the new company the I New York merchants sy because there is yet a enorous stock of imported I woolens in the American market The rush to take advantage of the low duties du-tIes on imported woolens before the I Dinble tariff law went Into effect was so great that the market was largely overstocked while the American mills I continued to manufacture woolens in excess of the demand The result has been to make the price ot woolens in I the American market extremely low t Clothing of the best materIal has never bben heaper in this country than at the present time To limit the maine I factui of domestic woolens so that i shall not exceed the demands of the mhrket is declared to be the main pur i et e of thenew combination of capital and that will mean the running of I A of the mills on half time and less payfor many thousands of operatives he detals of organization have not beencompleted yet and these interested in the combination In this city sad that it had not been decided in what state the new company was to be incorporated incor-porated Frederick Ayer of Lowell Mass who Is the chief owner of the Washington mills at Lawrence will be the president of the company and WU J 7T nnl hn Is treasurer of the U n Washington Mills company treasurer A D J llard of this ciy has been spoken of as a possible selling agent of the company 1Ir Juiiard is out of the city but a representative of his firm said he probably would not be an officer in the new company J C Wood hull probably will be the selling agent and the company probably will sell all goods from the mills it controls direct and not through the commission housesIt houses-It is said that the Guaranty Trust company in the Mutual Life building is underwriting the proposed consol daton and that Kidder Peabody Co the Boston bankers are also interested te in financing the new company |