The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-09-21
THE FALL RIVER FAMILIES.
sETEN or THEM CONTROB THIR-
TF-TUO CORPOR.ITIONS.


Sirc Ncn who Pill Eighty-FIvc Important
unlcrs -ome Of the PctuIiaritirs Of the
Coifon Trndc IN Nns~nchusottr What nte
the Chances ~ the small Stockholdcrss
FAIL RIVER. sept. l7.-For some time
ra.t have bccu hunting up information a. to
th. u.nncr in witch the cotton trade OF the
CTS of Fll Evcri4 conducted, aud in ende "
orn, nud ont how 10 was that the smaller
Stockholders VIM had invested their capt j in
me hado wlrr receiving such small returns.
Tuos hoy' not always been bad, aud there
lH.t have hOon some mysterious influence at
WORK TO cause 40 many magnificent mills 10
hlyc been almost entirely uunroductive, and to
hcnlw stagr ring under heavy loads OF debt.
In the course ~ my investiyations have be-
come prOfnly impressed with the fact that ~
US u-cless to push inquiries among the stock
lolicni They knew nothing thcm-clvcs. They
hadn't the faute.t idet how the mills, which
tNoy iu part owned, were being managed. nor
what was their nnlnci 4 condition and progress.
When there were any small profits to DIVIDE
they suppos ed they rot them. When there were
nome they hiu to grin aud bear It. In conVersh-
ton with several Of them they all told me the
snmc tale that they knew nothing about the
mills or their management, save that their
money was sunk IN them. and that thcy thought
Themselves fortunate when they got any small
dividends banded to them at rare Intervals.
And not likely we should. Il IA not for such
na us 60 know anything about H. The big bugs,
Tue Ring men. ana the family groups rule every
thing Just a. they please, and II tney are salts
Bed We have nothing 90 do with 1t except to
rest and bc thankfuL'
90 all intcnts and purposes the men who have
Invested their little savings la these corporations
have really handed over their money to a few
oil. l..af ali
control over IL. and know nothing OF the way In
which 1t Is being made small 10y degrees aud
beautifully less the dollar in many cases
being now only worth seventy cents. they tell
me that they have never seen balance sheet
know nothing about the auditing Of the accounts.
aud are not even certain that they are audited
everything being left to the board and the only
Information ever granted them ia at the annu Il
meetings. when tho clerk mumbles over a state
ucnt which only makes confusion worse con-
founded
SEARCHING FoR LIGHT.
II Wa to- and out why this was So and who
werc the fortunate individuals who thus con
truucd the manufacturing interests Of the city.
that set to work. and now give to you the
results of my Investigations To commence
with, | may state that there are thirty-three
cotton, spinning and weaving corporations in
Idl RIVER. owning forty three mills, with a
nominal capital Of sli,J0,OO). These mills con-
tain lebNJ0S spindlcs aud 2g.sG5 power looms,
consuming 1925 bales Of cotton, and produc-
ins t,ioolVoO yards Of cloth per annum, finding
employment for 1900 work people, and having
o pas roll Of siGl.OOO per month.
Now, should I've understood that there are
NJ mills in Fan River owned OF run 10y private
individuals. They are all owned by incorpo-
rated companies. and are managed by boards Of
A. .aa "a uua
printing cloths manufactured In the United
states. It follows that Fail River, with its annual
output II 1894 1900 vards,i the most important
rentre Of the trade hence the management Of
ls mills becomes very grave question for the
outside public, as well as for the stockholders
and the heip.
Manufacturers in Fall River complain loudly
ABOUT operative unions, yet unionism II its most
powerful form Is the secret Of their owa
strength. aud is 50 rlarnGly exercised as to be
'emarkahlc Ia its audacity The fact is that
while these corporations. or the Rines which
'un them, are So loud IN their denunclations OF
operative organization. they are themselves so
strongly bound together In CONT inauon FOR
attack and defence, thai tine puny Efforts If the
help. or even their own stockholders. are weak
and powerlcss when opposed to them. TO
prove that this is nc VAIN imagining, let your
readers carefully study the following taoulated
stntemrutS snt wing the position, Influence, and
Onlcial power held boy seven families only, and
also the returns giving the same class OF infor-
nation respecting nine gentlemen who form
The Ring centres. and whose names In FIN River
are fIuili n hs household words. The figures
give are based upon the Official returns OF the
triN part ~ the year. and there may nave been
few changes from death or other causes, but
NeV nave been very few. AlNhow, n will make
1o material difference even II The cards have
'"tn -ligutlY -huted, So long a. the Rang have
sept ll the trumps In their hands;
TABLE NrNnFR nNE.