The latest combination, Brookfield listed

THE LATEST COMBINATION

It is reported that the negotiations which Edward F. Cragin, of No. 71 Broadway, this city, has for some time been conducting for the consolidation of a large number of glass works are likely to result soon in the organization of a corporation to be known as the National Glass Co., with a capital of $12,000,000 of which $3,000,000 will be seven per cent. cumulative preferred stock, and $4,000,000 common stock. It is said that Mr. Cragin has options running to July on twenty glass properties, and that among the concerns to be included in the new company are Whitall, Tatum & Co., of this city and Philadelphia; The Brookfield Glass Works, Brooklyn; Moore Bros. Glass Works, Clayton, N.J.; the Cumberland Glass Works, Bridgeton, N.J.; the Salem Glass Works, Salem, N.J.; and H.C. Fox & Sons, Philadelphia. The officers of the National Glass Co, will probably be C.A. Tautum, of Whitall, Tatum & Co., president; Wm. Brookfield, of the Brookfield Glass Works, vice president; Richard Delafield, vice president of the National Park Bank, temporary treasurer, and John Whitall, of Whiatll, Tatum & Co., secretary.

It is said that none of the stock will be offered for underwriting. Some of the vendors, it is added, will receive cash for their properties, but most of them have elected to take part cash and part preferred stock of the new corporation at par.