The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1883-01-25


TT Total; g ssss.a7o :m.,eo.oo
sIncludes $500 ooo debt and capital Of leased
lincs.
This is An underestimate. It does
not include the capitalization of null
titude of subsidiary concerns, like the
Lehigh and Wilkesbarre, with IS, 7OO,-
600 Of capital, nor the Lehigh Coal
and Navigation, with ST ,OOO,OO0 OF
stocks and bonds, and il takes no ac-
count of the latest saurian to come to
the feast-the New York Central
which by its alliance with the Reading
adds Sl37 100000 to the enormous
total which the peoples coal mut be
taxed to pay interest and dividenaA on.
No other equal amount Of corporate
paper in the United States represents
such m unscavengered mass Of fraud
q this 500, 600, OO0-frauds on the
frst owners of coal-lands, frauds on
the companies got up by spectators to
buy them out, frauds in the construc-
tion Of the railroads into the coal coun-
try, frauds in their capitalization,
frauds in the sale to them to the coal
mining corporations. frauds on the
wretched workers in the coal-pits and
. fraud in the price of every one of
BOZ. OO0, 900 tons of coal sold III the last
fifteen years. Coal-lands bought ut SO
cents to $50 an acre were turned over
TO speculative companies to specula-
tive Directors at ten to twenty times
their cost, and the same kind OF multi
plication-table was used in the capital
lzat.na af these companies. and in valu-
ing item when the speculative railroad
Director came along 10 lmy them for
the ring who were 10 sell them to the
railroad. Tho roads were built for
One-half or three-quarters of the first
mortgage bonds, and then put under
second, third and fourth mortgages,
and - much more stock, and this has
been watered, dry seasons and wet,
down TO date.
How has this coal combination used
its powers To Cypress its miners at
enc end OF the line and the public Mt
the other. and to cheat them all. In
1854 they ran the price Of coal, which
had been $278 to $lO.75. end refused
the request Of their employees for an
advance OF wages, which had to be OBJ
tanned at the cost of strike they could
i'll afford. In 1871, when all the coal
operators hut those in the combination
had consented to an advance of wages
justly demanded by the miners, and
were eager TO 60 to work, this combi-
nation controlling al the avenues to
market trebled the freight rates. ran
the price of coal up to So ton, cut
1000, 900 or 5000. 900 Of people in the
cold Of winter of from their supply of
coal, and thus achieved their purpose
OF throwing the business into such
condition that no advance OF wages
could be made. Their working people
are the unhappiest in the country. The
fierce passions of the Molly Maguires
we're but the flames from . crater Of
consuming want.
When this King Of Black Diamonds
IN 1873 and 1879 ran the price Of coal
from BIS up to nearly double in New
York the Legislature ordered an inyes-
tigation-the mild American substitute
for the revolution the "pauper laborers"
Of Europe would have INDUCED in had
ono Of their Kings treated them so.
The committee found that q fair price,
including retailers profit and all
charges, would be 1876 ton for what
tho combination charged s. for in New
York. Here We have an official measure
Of the amount out OF which the coal
corner swindles the public in the vain
effort TO keep its members out OF the
abyss Of bankruptcy. into which their
mountainous debt il always forcing
them. Before 1862, when there was no
combination, the price Of coal was re-
markable for its steadiness. For TWEEN
~ years. with three exceptions. it never
rose above $40 nor went below 81. &c
st the wharf Mt Philadelphia. Since, il
has fuctuated Mt th6 will or need Of tho
monopoly. When the price was put uI
10 refrigeration figures, as in 1864, 1871,
1878 and many other years, the compa
mics have made fortunes monthly. The,
are now pocketing ct least 81 o. fraud
ulent profit on every ton they sell
This is so, 600, 600 for 1852, s29, 900,
600 for 1851 and $24, 600, 900 for 1850
a suspension ri work ito stiffen thu
market will be made this month,
Scranton Dispatch announces.
Two things that Mr.. Packer said tel
the whole story:
I'VE keep wages within control.
And i am not aware that the interests
of the public are consulted
This il why coal Is dear-s0 dear that
many = hssd-wosking man can not buy