South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1889-09-06

ma nagefs OF trust can at any tune form
new cor2orations, subsidiary 10 their main
orRani kationJ foe the single purpose OF
crushing . troub.ssoms rival or Of wrsckiny
or terrorsing some remote but necessary
producer or custom ers Of that rival. or for
the sole purpose OF making some special cum
tract or OF receiving, IL riay be- some rail-
road .cbate, not allowed by Law to be di-
rectiy made or granted. The connection OF
sueh corporation with tie trust NAV not be
utcepuoie OF legal proof nor even scspect.
ed ~ the puolic-msy indeed be INK nown
To any but ths inmost circle Of mAnaQ ers,-
yet IL can be clothed at once, with all the
power OF the entire combicAuon. foe accom-
plishing the purposes for which those mau
ayers ave called !, into being IL NAV be
hkened TO q squadron OF iigh, caval.
~, secretly enlisted in the service Of
The trustJ bat not wearing It's unifor m
or marching under ia colors, at can
be used eitrer for fierce assault up.
on p'esumptuous opponent, or for
cutting his line OF supplies or com.
municauons. at q point SO remote and
uneuarded that he may never suspect
the true source Of The mysterious
blow that has disabled or prostratei
him at Ito very time that he felt him.
self safest and strongest.
THE TRUST AN AMnUscApE, .
We have now considered the trust
In is four most important and best.
known relations, but cannot dismiss
this part OF my subject without
dwelling still further on the quality
OF the trust just referred to, and
limited ut in previous papers, which
is OF grea. moment in any attempt to
estimate its future Influence both as
an economic and political factcr,
for we cannot avoid considering Il IN
10th sspec,s.
L mean its secrecy. Not only ara
the proceedings Of the trustees or
managers secret. they are generally
also without reccri. Their method
OF managing the immense interests
they control seems based upon the
advice of Ta'leyrand, Never write
When tho Standard Oil Trust was
under investigation by tho committee
OF the New York Senate, although II
had been in operation under the
trust organization for six years and
had meantime doubled tue value OF lis
capital, the record Of the proceedings
OF the trustees covered only s,me
sixty pages Of an ordinary book. and
was absolu'e'y destitute Of any min
utes OF the real business OF the trus-
tees during all that time. Its entries
were Of tho most formal anil trivial
nature. being fr' quently confined to
The record, that the minutes of the
last meeting was read and oppo ed,
but the minutes themselves were not
| entered.
have already stated that the
sboard OF trustees of the sugar trust
not only kept no minutes, tnt at the
time OF the congressional inyestiga.
tion hnd no stated place Of meeting.
They met informally. at the office Of
one or another member Of the board
and had as testified to, no minutes 10
keep, because rs CIR. Havemyer said
they mover took any votes, but lust
felt each other
Every individual corporation, of
course. keeps it's own books, but its
books would throw NO light whatev.
or on The dOIngs Of the combin alton.
The great central directory who WELD
the power Of all The corporation be-.
cause they hold all their stock aud
receive all their dividends aud profits
meet, consult and plan, and 'depsrt.
ing leave behind them no foot.
prints to indicate to any one what
these plans are. There is immense
power in mystery. / can not doubt
that the market quotations of trust
certificates are really rated as much
on the money value of their power
as on the money value Of the visible
property they represent. 1t is this
power that adds might and terror 10
the operations OF the trust, and
cannot better close this paper than
by quoting a wholesome and timely
truth from Mr.. Bonham's book on
industrial Liberty
The citizen in free State must
be able 10 feel that be can embark in
industrial enterprises without meet.
ing al about him secret conditions
that interrupt that right. It is the
duty Of the State TO remove obstacles
30 that he may begin as we'll as pros.
ecute his industries freely But be-.
fore / consider how this duty of the
state can be performed, il will be
necessary for as 10 reach clearer
understanding of the conditions IN.
der which trusts spring up and four
ish, and to this question | will mex,
invite attention. WV. l.. XusnN.