. ity andbusiness foresight, born of a long period of regular dividends to stockholders,in good times and bad, and the sight of the rapidly-growing factory — allcombined to give the new movement favor with those interested-—especiallyin view of the fact that when carefully analyzed it was found that the stockof the two concerns was owned very largely by the same people. Conse-quently, on March 13, 1902, the American Hardware Corporation was organ-ized, this corporation owning every share of stock of P. & F. Corbin and theRussell & Er
. ity andbusiness foresight, born of a long period of regular dividends to stockholders,in good times and bad, and the sight of the rapidly-growing factory — allcombined to give the new movement favor with those interested-—especiallyin view of the fact that when carefully analyzed it was found that the stockof the two concerns was owned very largely by the same people. Conse-quently, on March 13, 1902, the American Hardware Corporation was organ-ized, this corporation owning every share of stock of P. & F. Corbin and theRussell & Erwin Manufacturing Company. The American Hardware Cor-poration is not a manufacturing corporation. It is simply a holding com-pany and controls the management of both corporations; at the same time, each corpora-tion has its own offi-cers and directorsand operates as aseparate and inde-pendent plant cor-poration, as responsi-ble to its customersto-day as it everwas. An importantfactor in the forma-tion of the newcompany was theuniversal confidence. PACKING GOODS 86
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