New-York tribune., 1871-03-23
AMERICAN SALT.
p,crs FROM THE SALT "M0NOPOLISTS."
~ L. Ahn fnllnwinr


rt IL understood that the following COM
.a,,on "a in tho Onco of The Eeo York World, and
80, 49, ,hI,s,ed by that Paper within a few days As,
novor the bill in which the salt companies arc SO
~ nterested is before Congress, they arc natur-
% for tho immediate publication OF this letter.
wishing, II they are to be Suninarny dispatched AZ
wspcton to he heard before rather than after their
cxccution1
| To N, Editors Of me Neto- York World
s,p Tho Great salt Monopoly nj Onondaga desires
from YOU as fair-mnded opponents, hearing in your
columns And, first may ask just what Is meant when
you hold us up to public odlun as monopoyf Salt IL
nroduced only at the limited number of places
whore the Creator has distributed the brine
or the mineral In its natural state. II this
makes us "a monopoly, we cannot possibly help It,
ard ought not he severely dealt with. 1t Is true how
ever that like other people. associate our capital in
order to economic production extend our markets,
steady prices carry the salt possible TO the
consumers and keep tho profit out of tho hands OF the
specuators. II this is "mOnOpoy," then all as
soeiatod capital every partnership and every incor-
pOrated company I'm tho land, must be character
lied IN tho samo manner and exposed to the samo
condemnation. We have often been spoken OF by
you and others the recipients Of unreasonable and
enormous profits in business. In this respect we
been fairly treated, brief explanation VIII
show. II would be uncandd in not TO admit that
during two or three years OF the our profits were
very large In 1862 for example the commerce OF the
Mississippi was closed, and great panic arose IN the
Western and sOuth-Wettern salt markets The I'M
portant salt interests of Michigan and Ohio
were not then much developed. The Kanawha
Salt Works were destroyed by the enemy.
The result was most extraordinary demand
for our Onondaga salt which carried prices absolutely
beyond our control Tho moment our salt reached the
great markets referred TO, the dealers in the article
would take it at existing prices and instantly adj
vance item to higher rates We compelled to fol-
ord r1f,1 IN
which belonged to the producers This IL exact HE
tory OF that period and the causes operated, TO
modified extent, in 1868 and 1864. Ii was condition of
things entirely anomalous.
But there is further explanation to which VIC beg
your attention At the time We charged with making
such large dividends managed our ealt manufactures,
fairly valued at $iOocOc, with small cash capital
of only sl61OOo which contributed by the owners OF
the works. and they held tho stock to represent it, Now
the very largo dividends imputed TO rs as crime wore
calculated upon that insignificant moneyci capital,
whereas they earned by the whole capital OF more
than eco used the business To be precise In tis
statement, our business employed and required the
manufactures not represented IN stock and the cash
which WAS so represented while the pros wero esti-
mated and divided upon tho latter only This single
statement will give you very different view from the
one you seem have entertained. Another fact Is st
moro worth your attention wish to do US justice
We had lease Of ~ tie best coal mines III fenSy-
yapia from which we frechted canals with coal in
vast quantities for fuel Feel is tine main item OF
expense in the production Of salt There was com
binaiion among the GOAL companies ana prices
were high. by supplying ourselves We actually
saved IN years 1863 1864, and 1867 not less than
81 as the difference between the cost to US and the
prices charged the OrCn market by the coal compa
MES This Of The economies OF our Association
which would not have been possible TO indi-
yidual enterprise. And, finally, soon auor the
close OF the war, sold orr coalleaso Tor
D0 htJV-
these savings upon coal, incidental branch Of our
bus,ucss and all the premium the sale Of our lease
went to the credit Of our little capital stock IN tho salt
business and imputed TO Us in all the public state
ments which have appeared We beg leave to vcIy tho
facts in any way you may suggest.
In connection with these facts 1T + proper now 10 add
that since the war; and Tor the a't few years, the salt
business and trade have returned to their normal cond
ton The profits have not been inWodera'e IN any year.
and in GONE years there have been not only no lFoh
hut actual losses. In the year 1870 our company s"5-
tnod loss OF at Least nearly oooo in the manufacture
and sale OF nearly 100000 bushels o salt Tie truth OF
ipc-c statements We VIII show TO you in any manner you
please. invite you to visit us or send an iAteiS mt
reporter We will spread ont thc facts before you, ana
| exhibit our books, Which honestly kept We WISH
YOU 10 believe that wo arc not thieves or sharper
cut-tlroat8 or brigards, but very much Ike other
men, certainly no better, and tra5t not
materially worse. An extraordinary statement in your
paper the 18th inst al repeated on the 18th, chiefly
demands attention. You that 100000 bushels
OF salt are annually consumed tbs country; that the
mpost duty cents buslel enhancing the price OF
the whole that extent, and that tho S6O0JOJO thus
added TO the total cost goes the pockets Of the alt
monopOlists." You thercupon call pirates, and uso
other ondcaring expressions q tha: nature. Not que
oung your sincerity We .sk leave TO give you in
| formation which you certainly seem to need.
And first you have Oycrtacd he quantity OF salt con
suned by 10000 Of bushels, and you have ovestatcI
| tIa dufV by MI foreign
salt is s cents per pounds. the addition OF six cents
for salt sacks being the duty the sacks ard not
the salt Now as Sc pounds make bushel the duty Is
very little over cents These details Of no great
importance, but it well enough TO be accurate. Your
statement erroneous merely in these details but
wholly and altoe thcr wrong few facts will tell the
story. Our Company produces nearly 100000 bushels
per annum and upon your theory that 10 cents per
busel goes into pockets in consequence OF the Td1
We ought to pocket the comfortable OF $780, per
annum instead of which poclctcd loss last year OF
s2oi ,395 ST.
Have the goodness to look at the following statistics:
In year 1870 the average prime cost of busel OF
loose salt at works 23i Gents; this includes the
State duty taxes and incidental expenses and fixed
rent upon leased manactC cries. but does not include
interest dividends upon our mOneycd capital stock,
which is now s2J0cOO Your calculation adds Is cents
more as the result Of the mqost duty, which ought to
carry the cost the to 3ss cents per buscl
the works. with all the expenses OF transportation,
&c, to be added. That is the price for which must
have sold, I'm order to pocket the 10 cents per bushe
But sales in all markets netted here only 90
cen ts-wlch IA 81 cents below actual cost We presume
this statement is quite ineligible to you II you doubt
its accuracy again. solicit your presence among Us,
| and courtcousy invite you to an examination
You very excusaby Ignorant OF the main points
the subject. 1t IL not TO be expected that you should
well informed the salt business trade and it
app that you have been open extraordinary mis-
| fof,