Acquisition and Failure

Text: 

1898 - The manufacturing division, including the new plant, is sold to the National Shears Company, better known as the Shear Trust. Created and led by J.H. Clauss of the Clauss Shear Company, the Shear Trust purchased five manufacturing operations in rapid succession. Three of the companies were closed, but by operating Wiss and Clauss Shear Company, the trust controlled from 65 to 70 percent of the shears and scissors output in America. Success seemed assured, but in less than two years the organization was declared bankrupt.

Dates: 
Tuesday, May 31, 1898 - 19:00
Credit Text: 
Wiss website - www.wisstool.com
Tag: 
Wiss