Middletown transcript., 1892-08-18

were n per cent. higher than in Eng.
land.
We will grant for the sake of the
argument, that Major Mckinley is
right in regard to his labor figures, Sc
far as they refer to the pottery busi,
ness. It is a fact which no protection.
ist will deny, that the best paid class
of laborers or workmen in the world
are the American glass blowers, and
American potterers. And there is no
where in the world more complete
monopoly than that which is enjoyed
by the potterers and glass blowers in
the United States. By thorough or.
ganization of these artizans, aided by
special tariff Legislation, they have
been able to command whatever they
asked in the way of wages until the
Mckinley bill overshot the mark, and
behold the result
I quote from James G. Parsons
History of the Mckinley Tariff in
the July 80 No. Of the Tariff Re.
form page 65S. :" The tariff rates
on sanitary pottery are 55 per cent.
on plain, and go per cent. on decorat-
ed ware. Those rates are the same as
those of the tariff of 1883 with this
difference however, that under the
tariff of 1883 they we're imposed upon
the wares only, packing cases, and
charges being free of duty. The Nc
Kinley tariff imposed duty upon pack.
ing and other charges as well as upon
wares, with the.result that duties were
raised from ten to fifteen per cent.
Having caused this increase of duty
the " Sanitary Ware Trust compos'
ed of seven manufacturers of Trenton,
one in East Liverpool, and one in
1
Baltimore issued a new wage list,
cutting down the wages of the work.
men from ten to forty per cent. The
workmen refused to accept the reduc'
tion and strike ensued, lasting until
May, when the workmen were forced
to yield and accept a reduction Of
about Is per cent in their wages. On
the first of April when the defeat Of
the workmen was assured, the Trust
issued a revised standard list Of
American Sanitary Earthenware'
making an advance in the price o.
their goods.
A paragraph or two about the
American Pottery Trust, and / will
bring this already too lengthy article
to a close. The origin ofthis Trust
was incorporated as the Trenton
Pottery Company" The value Of all
the properties and possessions of any
and all kinds, owned by the live
Trenton companies which originated
this Trust" was by these five COM
panies which first formed the !" Trust
declared to be worth only 81 1870, 600
Under such circumstances the ten
dency Of proprietors is always to over
estimate, rather than underestimate
values. Upon the foundation Of this
property valued at s1,S9O,OOO, stock
was issed for $S,00O.OO0. 100000
was clas.ed as preferred and the
holders Of such stock were entitled to
but 8 per cent. before the common
stock holders, those possessing the re-
naming $2,OoO,ooO of stock, could
have any profits. but the common
stock holder did not suffer much, al
the following statement concerning the
business will show:
aThe books of all the companies
have been examined by Messrs
Barrow, Wade, Guthrie & Co., chart
cred accountants, who find that th'
average net profits for the past thre'
years 1889, 1890 and 1891 hav'
been $S14,573.34, and that for th'
last year, viz: 1891, the net profit
were $4O1 900. The average earn
ings will pay s per cent. on the pre-
i ferred stock and over II per cent. OIL
| the common stock. The earnings 70
1891 will pay the dividends on tb
preferred stock and over Is per cent
on the common stock, after providing
for the expense of management"
Notwithstanding the proprietors Q
these potteries we're making from 2
to 20 per cent. upon their own ap
praisement of the values of thei
plants, their representative Johr
Moses before the Mckinley Com
mittee in 1890 said to them g. 1t i
/, for you, gentlemen, to say whethe
, this struggling industry shall be dea
: troyd for the beneit of foreign manu-
, facturers." To prevent the destruc.
} ton Of this struggling industry az
> ditinnal duties upon like foreign pre-
: ducts from Is to IS per cent was in
. posed. And this additional duty wa
|. imposed in such an assiduous manne
/ that it does not appear upon the tari
8 schedule. The additional burde
Q was imposed by placing large duti'
IS upon packages in which this wa
q must be shipped and upon tt
I. charges of preparation for shipping.
i. Is it to benefit these manufacture
g and these high paid potterers th
j | IL o,o.t ,ooscns of fha Donrin