Rensselaer Journal, Volume 12, Number 21, Rensselaer, Jasper County, 30 October 1902 — BROOM COMBINE IS FORMING [ARTICLE]

BROOM COMBINE IS FORMING

Manufacturers Take Steps to Finance Merger at $5,000,000. New York dispatch: Arrangements have been made for financing the proposed combination of broom manufacturers, which, if formed, will have a capital of $5,000,000. The total capitalization of the companies engaged in manufacturing brooms in the United States is about $3,000,000, and their yearly output about 42,000,000 brooms. The manufacturers who have been asked to give options on their plants represent 75 per cent of the broom industry of the country.