New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-05

approached in any other country in the world
with revenues greater than those from many
government; with profits centred in single family
larger than those enjoyed by lines Of kings. and
more certainly susceptible of increase than dreamed
of by the founder of any dynasty in ancient or
modern times. How much of this vast aggregation
is the result of individual effort no now can
tell How far it will limit circumScribe indl-
vidual pursuit i'll the future in com
petition with il, 1t Is easy to see
True, combinations OF enterprises SO widely
operative as these open up fields for employment
for great numbers but whether the employee is
ever the entirely successful man, As the world
estimates success. making the most of his ahili-
ties and energies Will be doubted by the ambitious
reader.
WHAT TRUSTS HAVE DONE.
The Great fortune, Of the Standard oil group of
moncy-n,allcrs Is the direct result OF combination
in industrial pursuits. the tendency toward which
is one of the most marked features OF the hour
and without considering which it Is useless 10
attempt to describe why men in this day succeed
In this organization practical control is >csured
of an article of prime necessity, and by the cN-
erci>c of rare business capacity, II i produced IN
quality safer, by processes cheaper. distributed
better and at les, cost, and applied To a greater
variety OF uses than could De possible under com
pctition There are numerous other departments
of industrial activity in which combination is rs
essential as the sum- if profit Is 10 be secured, AS
in white lead bagsng, sugar, cottonsecI, glass,
wire. steel rails window-gla>>, envelopes, and
other equally important but les known operations
Of similar character For while the public mind
is agitated over this tendency and the press
vainly seeks to stop II by condemnation, ana Leg
i>latureS by adverse lc-i>lation the fact IS APP
parent that. while tn" liberty of the cl'l/'n re-
mains. he must trade with lis fellows ON such
terms as will yield return; and the business
combinations. trusts and the like viii 20 on Great
Ing more fortunes. frequently reducing prices,
and achieving more beneficial results th'a the
kccnc>t competition or the widest speculation.
The anxious seeker for guidance lu toriun'm A'-
inc must bear this growing tendency IN mlnd -
the newest dcyelopmcnt In the battle OF giants
for tie highest piilc>. In former times tue be
lief was universal thar comi"tI'o "'> ti' i''
Of trade Today IL excess PES f' Hfard aN 'H'
death of profit Thousand Influences H"F'
brought about this reversal of conditions, ana y
must not be ignored IN contemplating the Way ''
success for the coming generation. Arnlh. re-
fcrrinr 10 the force, of steam electricity and ms
chincry, the enormously increased power oi pro
ducton, the equally great increase IN ~" I''hI'N
of transportation and distribution, revolution
has occurred in which all the avenue, oil ''"I'
soorn urdulv crowded In the professions, In
banking. and especially in haSinc-> pursuits me
number cmploycd Ia, Icnchcd point for ID ~
cess # possibility of profit here i~ hardly
locality in which the number Of stores and bust
r.,, establishment, could not be reduced hy one
third 10 the great adNautas" Of all concerned;
Snd n has been suggested thar "A our-'hr1 Of ihr
entire bushes, population were 70 Dee supported
by the other two-thIrd~. the profit possible ny
the saving OF the waste OF competition would Doe
greater than where all were aitemptin. - I've out
of a business yielding no adequate return
Other great groups Of fortunes most familiar
10 the public are those OF Nr. Jas Could, mainly
The result Of combinations IN telc-raUA- and rail
roads: Of Governor Stanford and bis associates
on the Pacific Coast 10y the advance do values
from railroad building; the Canadian Faclhc
magnatcs. based on the purchaSo of Northwestern
properties in the United States at "a period OF
their greatest depression. and numerous other
instances. whereby the grant Of privilege, Of trans
por,ation has been conributory 10 vast accHmuIa-
lions while at the same time great iU,>cs have
bccn incurred by individual stockholders 10y
unwisc expansions in the same direction. The
money sunk in competitive railroad construction
and operation in the last ten years far exceeds
the amount made by the great public during That
period; but the shrcwd manlpulotions Of the
subsequent operators. who aim ~ combination,
illustrate the point that j. by consolidation
rather than by competition TINT fortunes are
nowadays made
The prospect for the young foriune-hunrf Il not
therefore, a cheerful one, and to attempt 10 sci
before him why mer succeed and why men iMl,
with an ardent desire t. help him 10 sale conclu-
,ion,. seems - opclc,s task. It Las been shown
that by combination fortunes are made, and hy
comucttion they are lost Even This tendency, IN
these times restricts the chances and Opportuni-
ties and il would seem rs If the poor boys Of
the present generation will hardly hay" the
chances OF the men who preceded them. The IN
yention Of the Canadian, Alexander hcll, IN the
telephone. imparing facility Of Instantaneous
communications hardly leaves room for another
device Of similar character ~ which 10 duplicate
the fortunes made in that spcndidly administered
organization, the Bell Telephone Company. The
south shore Of Lake superior will hardly develop
another copper mine like the Calumet and llccIa,
which in quarter Of century ms yielded
s3o 000. 600 Oh capitalization OF S2,500,O0O.
The nickel that is now being mined AT sudbury
Junction, on the north shore vi Lake superior,
al a profit Of Il 900 day for group of ClcN"-
land capitalists, will supply the demand 10 such
an extent that opportuntic, in nickel will be
pretty well flied up. The profits of railroad
buudine and Of railroad operating appear 10 have
reached climax for some years 10 come. ana
what new field for this peculiar class Of HclNli}
is open IT, is difficult 10 discover. The boom IN
real estate. in which many fortunes have been
made one would think had reached IT, safely
point concciying that there is on the on" hand
an unlimited supply Of land ana pn the o'hcr IL
considerable limitation in the demand. II thi'
is al true the conditions are hardly so favorable
for fortuncmaiine in the future as IN the past,
and there is Therefore, all the greater need for
the exercise Of the best ability and the greatest
energy.
HONEST INDUSTRY, AFTER ALL, THE TRUE