The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1881-06-03
THE DANGER AT THE DOOR.

Inc Telegraph yesterday announced
that Mr.. Willard, of the Oregon trans
portation pool, which has captured the
Northern Pacific Railway, has, in COM
pany with Horace White, formerly of
the Chicago Tribune, bought the New
York Eoeiaiqg Post, which it is proposed
to place under the editorship of Carl
Schurz. If this shall be accomplished
it will give the control of three of the
great newspapers Of New York, all
members of the Associated Press, to
men who are interested solely in in
creasing and consolidating the power
of the great corporations of the country.
The Tribune and World are already
controlled by J. Gould; reinforced by
the Post, whose mission Of supporting
and defending monopolies will be the
same as theirs, and powerful news
paper triumvirate is established whose
batteries will be turned ON the people
without cessation. There never was
cause for such alarm OF such a demand
for a general awakening of the people
to the danger that threatens them from
grasping corporations as now.
A pamphlet recently issued and adj
dressed to bankers and inventors, and
others interested in the securities of
the Union Pacific Railway Company
as we'll as railroads directly and indi.
rectly under the control of its leading
officers, reveals some startling facts
that will interest the public at large
Quietly but certainly the manipulation
of Jay Gould and his associates have
gone on until they control nearly all
of the great roads of the country
Notice how the names of two or three
gentlemen figure in the lists of direc-
tors: Take first the Union Pacific, and
among its officers we find Sydney Dillon,
Russell Sage, and Jay Gould. The
Missouri, Kansas and Texas, which has
just placed bonds to the amount of
$45, 100000 in bonds on the market, has
among its directors Jay Gould, Russell
Sage, and Sydney Dillon. The cen.
trail branch of the Union Pacific
which has just placed $6,00O,0OO
in bonds on the market, has
for its principal officers Sydney Dillon,
Jay Gould, and Russell Sage.
The Wabash, Sta Louis and Pacific
exhibits the names of Sydney Dillon
Jay Gould, and Russell Sage. The Del
aware, Lankawanna and Western has
for directors Jay Gould, Sydney Dillon
Russell Sage. Hannibal and st. Joseph
Jay Gould and Russell Sage. Central
Railroad of New Jersey, Sydney Dillon
and Jay Gould. st. Louis, Iron Noun
tain and Southern Railroad, Jay Gould
Russell Sage, Sidney Dillon. Jay Gould
has just secured control Of the Inter.
national and Great Northern Railroad
and his favorite associates will no doubt
soon figure as directors. In April last
Jay Gould gained control and succeeded
to the Presidency of the Texas Pacific
Railway, and it is understood that he
and his associates control the st. Joseph
and Western, running from st. Joseph
to Grand Island, Neb., distance of 299
miles. These are only a few of the
roads in which Mr.. Gould and his
friends are largely interested. How
many others are really controlled by
them the public may not know until
some fine morning when the former
feel disposed to put on the screws,
freeze out the minority stockholders,
or show the people that having the
power to regulate rates they propose to
ruin town here and there, squeeze
the farmers of the West out of their
hard earnings, or build up one city at
the expense of another.
It is easy to see how this syndicate
is able to go on purchasing roads and
adding to their already enormous pow
ers. They are recognized as successful
managers and manipulators, who, if
they choose, can largely increase the
carrying trade and earnings of any
road, turning it into feeder or an out
let for the roads already under their
control. They find an independent,
broken down railway with stock at a
mere nominal price and purchase the
control. The stock is then doubled or
trebled, or, as in the case of the Mis-
souri, Pacific, increased 15h times !;
blanket mortgage bonds are also issued !,
and the stock and bonds are thrown on
the market. The names of Gould, Sage,
and Dillon give these securities a ficti-
tious value; they sell at high price,
and millions are realized with scarcely
an effort.
The Inter Ocean is not pretending
that these men resort to practices that
others would not resort to under similar
circumstances or with like opportuni-
ties. 1t is not abusing them for TAX
ing advantage of the chances afforded
them; but it is calling public attention
to the lax condition of our laws, which
permits enormous speculations of this
kind on a fictitious basis: to the system
that permits watered stock to any
amount to be issued, and thus places a
power more dangerous than the pres
ence of a standing army in almost every
State and county in the entire land.
Talk about the patronage of the
President Why, the word of Jay
Gould can turn hundred thousand
men into the street, or give employ
ment to hundred thousand others,
any day. The vast lines of telegraph
are owned by him and those who are in
league with him. Every newspaper in
Chicago pays tribute and toll to them.
Gould's order would be sufficient to dis
turb their news facilities, and damage
them almost irremediably.
Mr.. Gould may be as scrupulous as
he is enterprising; he may have the
broadcast ideas of tolerance and liberty
of opinion, but no man nor set of men
can be the safe custodian of such enor
nous power as he and his few CO.
workers WELD. 1t is a menace to th
welfare, the liberty, the prosperity oe
the country, and if the people do nof
awake to the danger very soon, theyt
may find themselves helplessly bound
when they finally become conscious of
their danger. No Legislature, no or
ganization or body of men having the
enactment of laws in its keeping is safe
from the influence of these ambitious
and far-seeing spectators. They laugh
In0ioIo&nwc fnr Rhory No oanGJ0,,& 80