The intelligencer. [volume] (Lexington, Mo.) 1887-1891, 1889-07-27
Il SALT COMBINE.

Inc NOft0 Am6flCdH puIt SOhIpohy
is one of the most gigantic combines in
the country. 1t already has practical
ownership or control of the salt works
of New York, Michigan, Kansas, Ohio,
West Virginia, and the Dominion of
Canada. The object of the company,
a. it in lis circular soliciting
subscribers to stock, sis 10 unity and
systematic the salt interests of the
United States and Csnada," and to do
this it has ownership or options on $3.50
different works and properties, the out
put from which furnishes about ven
Fights of the total annual production of
salt on the American continent" The
| circular then goes on to demonstrate in
the shckest imaginable style how this
consolidation is pro bono pab2icO. OF
course pu6lico does not see the writer
of the circular pull down the corner of
his eye as he iDdites his glittering hum
bug, but the gesture is there all the
same, and may, easily enough, be read
between the lines. 1t then proceeds 10
prove that the consolidation is not a
trust, because the properties are pnr-
chased outright, &C., &c. as if to eat
an onion under the name OF Marechal
Neil would make the breath smell like
the roses of Araby the blest-it is the
combination that kills, not the manner
of affecting it.
With surprising gall this most mon.
strons monopoly and humbug, after
establishing how 1t is going to benefit
the "m-asses," goes OH to show how
much money it will make for the share
holders. 1t says:-"It is believed that
/. . an average net profit of at least
four cents a bushel, Or twenty cents q
barrel, can be relied upon. The profit
on ten millions Of barrels would, there
fore, amount to $4,000, 000." Six per
cent. to pay interest on four million
dollars of bonds, $24O, 900; eight per
cent. dividend on four millions
dollars of preferred stock, 1926, 900
total, $560,000. This leaves for reserve
fund and dividend upon seven million
dollars of common stock, s1,44O, 900, OF
more than twenty per cent. On the
finer grades of salt these gentleme.
claim they will make more profit thai
on the commoner grades, very mucl
more profit, SO that their earnings will
be greater than is here claimed.
Don't say We are misrepresentin!
this company, that they can't max
three sets of profits as herein shown
that II is impossible to do SO when farm
properties cannot be made to yield fiv,
per cent. profit all told. The figure
here given are not ours; they are Ito
speculative; they are the company
own figures, given in their financia
/. circular sent TO investors. No wOndc
the rich are getting richer and the poo
poorer when hocus FOCUSES OF capital
lists can. aided by q protective tariff
which keeps out competition iron
abroad, thus rob the people.
The stupendcusness OF these profits
aud their unreasonableness give paus'
even to the free hooters who are organ
izing this trust, and they go on 10 ex
!, plain how they can be realized, ant
there ia no doubt as to that. VIII!
mot? With the public down upon it
back, its throat in the hand of thu
highwaymsn, there Is nothing to pre-
vent. And this is the way they prove
II. 1.-THE latest illustration of this il
the United States is found in the article
of sugar, in which properties valued a
$12, $50, 900 were combined under
Capitalization estimated by some au
thorities 10 be about "a for every 81
making a total issue oil $50, 00O, 600, ant
the earnings of which are now sufici
ent to make the securities representa-;
this large amount, readily salable a
p.ices much above par, although in ID
beginning they sold st only about IA
the present price"
IOeFG 81 Is Ill u hui buoIi. 1uDiC l
the purpose, markedly unfolded to CAPT
talize property at four times what 1t
worth, and by means OF a combination
which freezes out competition, to CON
pei the public to pay profits on tn
wrongfully quadrupied amount.
RI The misery-that is the right word
the misery OF all this is, that there ar
millions of people In this country VIII
fret and fume and raw at trusts a
unhoIy, wicked and altogether uu
lovely, who ont of prejudices %inculcat
ed by designing and inscription
politicians, go to the polls time ant
time again, and vote for high protectiv
tariff, which is the father and fostere
of trusts. .chere is not @ s~ixteeD-yea'
old school boy in the land who, wit
:, the situation explained to him, csnne
see that neither the sugar trusts no
the salt combination could live a mont
IL it were not tor the high tariff.