South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1889-08-02
means OF which It could dictate prices
in the American market.

means OF which II could dictate prices
in the American m arket.
CONDITIONS FOR CORNERS.
Tue conditions Tor s1ch . corner
were especially favorable.
The tariff tax OF three cents q yard
on baggiug gives our mills such
complete control OF the home mar
ket that manufacturers Ia Calcutta
or elsewhere do rot look for sales
here. and accordingly adjust their
prediction to the needs OF India,
The demand is confined to q few
months in the year, and prices are
not given out or known until the
demand begins.
The bagging is an article Of Abso
lutte necessity to the planter, aud one
Tor which be cannot wait when Once
the ginning season IL upon him. It
was, therefore, only necessary for
thoss who were planning the move.
ment 10 ascertain, ~ they did, that
there could be no immediate relief
from Calcutta nills. which had other
contracts on hand, and not expcc-
ting an American demand, could not
manufacture and ship TO our markets
in time to meet sudden order.
These things known, II Was possible,
by secrecy OF movement without re- .
sorting to the machinery Of the trust,
to bring about very successful
temporary combination OF some OF
the home producers to control the
years supply of bagging. and thus
dictate its price in the market.
SUDDEN AND AUDACioUs FoRAFs.
1t is not necessary that I should
describe in detail the plan by which
this was accomplished. Given the
favorable conditions mentioned and
an unsuspecting victim and il requires
no great astuteness TO make . cor.
ner' that will, while II can last, gath
er even richer harves's than Q trust.
Corners are unfortunately not uncom-
mon in our experience. They are
sudden and audacioas forays, where
success depends upon the unexpec.
tedoess of The onset and the speed
with witch the plumber can be gath.
cred and Carried off. Trusts are per-
manent armies of occupation which
quarter their soldiers 10 every house,
hold.
have thus passed in review the
four combinations investigated by the
committee of the house Of Represent
atives.
There is another class OF trusts,
whose names at least are becoming
familiar to readers of city papers,
such as the gas trust. the street rail.
way trust and the like, to which
may devote few paragraphs in
closing this paper.
CHICAGO GAS TRUaT.
The recent experience of tho city
OF Chicago may be cited as to the
mode Of forming gas trust. Ace
cording to the facts, as far as they
eau be gathered, party Of capital
lists from the East bought up, By
the outlay OF large sums of money, al
most all the shares of the most PROS
porous gas company in that city.
Ttey Immediately elected a new
board OF directors. who, announcing
their intention to extend and greatly
improve their works. mortgsged the
property to its full value, ia which
they were aided by the splendid cred .
II hitherto enjoyed by a company
whose balance sheets had shown mar
velous prosperity. The proceeds OF
these mortgage bonds they used, not
for the purpose announced to the pub.
lie, but To pay back to themselves, In
a single dividend ON the stock, the
sums they had expended In getting
control Of the company.
Their next movement was to use
the company they controlled as q
leverage to force the other gas com.
paDies Of the city into trust. The
capitalization OF tho trust was made
as large as prudent, with possibility
of moderate dividends, aud, in some
way or other, u majority OF the trust
GER ificales turned up in the hands
OF the parties who had planned and
executed the scheme, thus securing
to them control OF the entire organ
| izatiOn.
Some slight reduction in the price
OF gas to tbs public, made as the
result of using cheaper materials an !
methods 10 manufacturing gas, was
heraided IS proof Of the benefits of
"a single and harmonious manage.
ment, and the gas supply OF large
city passed uuder the control of
men who had already received back
nearly all the moneys expended In
securing their frst Judgment there.
The same syndicate seems TO be
moving from city TO city, wherever
there are tempting conditions, using
negotiation, or if necessary, destruc.
! tive competition of some one com.
PAW Of which they secure control,
to bring all the local companies into
/ q trust.
The income derived from gas trusts
elsewhere controlled by them is avail,
able 10 subjugate The successive cities
they enter 10 looking over the
proposed trustees Of a gas trust in a
Western city, which just al this time
Is the theatre Ut their operations,
/ end the familiar name OF q chief
mover in tue Southern Improvement
I Company scheme, Which looks "a IL