National Cordage Company
From Wikipedia, the free encyclopedia
The National Cordage Company was formed in New Jersey[1] in 1887,[2] for the importation of hemp and the manufacture and sale of cordage.[3] It is noteworthy because of its expansion at the beginning of the 1890s and its initial public offering of $5,000,000 of 8% cumulative preferred stock.[1] The corporation sought to decrease the cost of production and distribution of their products. It issued a prospectus on August 1, 1887 and quickly sought to dominate the market in raw materials.[2]
The sudden insolvency of the business, in 1893, resulted from its inability to acquire enough money to continue.[4]
