Salt Lake Herald | 1898-05-14 | Page 5 | Thread Trust Formed

THREAD TRUST FORMED I Another American Industry Bottled UpBy Bankers I New York May 13Th Journal and Advertiser prints the following The I formation of what is to be known as the American Thread company practi cally has been completed I Is announced an-nounced that the Williamantic Thread company one of the largest manufacturers I manufac-turers has ben purchased for this American sewing cotton combination and that the purchase of the Clark mills I and of smaller concerns will be completed com-pleted within a few weeks The deal has been ronsummated through J W Sellgman Co bankers who have capitalized the trust at flS000000 divided into 6000000 4 percent per-cent bonds JCOOOOO preferred tock and I 6000000 stock Onehalf of this capita it is said already has been subscribed in England I Eng-land and the promoters say they have sold the remaining half in this country The bankers say the entire issue of 6 I 000000 of 4 per cent bonds is sold