Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1886-04-23
WATERED STOCK
Said to be the Cause OF the Or
ganization of the Knights
of Labor.
Representatives of the Order Before
the Labor Investigation
Committee. r.
Mr.. POwderly Gives History Of
the Order, and Explains
Its Mission.
The Membership in the United States
Placed at Five Hundred
Thousand.
Before the Committee,

WASHINGTON, April 21.-The second ses-
sion of the labor investigation committee
was held in the room of the house COM
mittee on elections. The room was crowd
ed to its utmost capacity. William o. Nc
stated he was manufacturer of machin-
cry. He was member of the Knights Of
Labor, but held no official position.
The chairman-Without dlvulging any
of your secrets, will you please state what
are the objects Of that organization.
Witness-To elevate the members by
helping them to educate themselves; by
helping them to save that which the aver
age workman has wasted through bad
habits; to lift him from the condition into.
which he has fallen through such habits,
and make him thereafter an employer in
stead of an employee; to so educate him by
comparison Of ideas and by discussing
questions that help to educate, that he is,
able to deal with and grasp the subjects
which effect not only himself, but his en-
ployer; that he may become better work
man, command better wages and by CO.,
operating with his employers help him to-
such profits that he will be able to pay bet
ter wages.
Mr.. Craine-What was the original cause
of the strike?
The witness in reply to this question
made long statement involving the differ.
ences between the principal of payment of
day work and piece work, and quoted
Gould as saying that by making a change
ofthat sort in the Western Union telegraph
company he had effected saving of eighty
per cont He added that the general
CAUSE OF THIS STRIKE,
and Of recent strikes all over the country.
had been the successful strike on the horse
car lines in New York last February. That
had commanded such universal public SYM
grievance or wrongs, Joined together and
made applications to form assemblies of
Knights of Labor This was SO general
that the order had increased more in the
month OF February last than it had in the
previous eight years. AS an additional
reason. he alleged, the universal system of
watering railroad stock, which made it nee
essary for railroad managers to screw
down labor as much as possible.
Mr.. Crane asked what remedy he could
suRKtss t;tnoso aol .en1;., o,.at. ..,4 A.,
enforce the law The law ~ avev etote %e ~ w
quired that dollar for dollar should be paid
TOT rallroad stocks, put that provision OF
the law was evaded by the railroad man.
az ers forming themselves into credit mo-
Dlner OF construction company and issuing
10 10 themselves sn VI OF kstock Tor every
VI or Wy OF WORK.
~ The Chalrman-And your theory is that
tne reductions made upon the men en-
ployed on the ROADS are caused by the at
tempts 70 enable the railroad companies to
pay dividends on watered stock?
Wltness-Ihat Is the theory, and therei is
great irrltatlon about 1t all over the coun-
Try:
Being questloned as to whether Gould,
himself has not appeared to act fairly to-
Ward the organization, witness said he had
always th0ught SO, but ne believed that
Hox1e was on hlgh morse and Mr.. Gould
was 10 Dlame Tor not issuing positive
order 10 carry out the arbitration.
Regarding the published statement that
Wltness ana Gould were working this mat
ter Gogetner Ior the purpose OF affecting
STOCKS, witness denied anything OF the sort;
mad never bought or sold share OF stock
on margin: and mad never met Gould but
once IN MS lie.
-ra@ -. pOwnERIy pErAYIEp