The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1892-02-19
A POWER FOR PUBLIC COOP.

Hho Emu OF Discripilnatlon - Steady
Labor with Fair wagcs-The Re-
suits Of the Most Colossal Railway
Deal Of the World.
The Reading RAILROADS. recent ucqui-
sition Of the Lehigh Valley and New
Jersey Central Roads. tho most stu
Lendous railway deal ever cousummat-
ed In the world and the most startling
financial operation of the age, will
have consequences SO momentous and
far-reaching as to be almost beyond
the grasp Of the average mind Not
only does 1t make the Reading Rail-
road the most powerful corporation
in the United States ard the largest
employer of labor on the civilized
globe, but it practically constitutes
its president, A. A. Mcleod, the dicta-
tor of the anthracite coal trade and the
arbiter of the fortunes of the vast in
terests and industries dependent upon
the trade.
1t is natural that some curiosity
should lie manifested regarding this
remarkable man, and that some anxi-
ETY. should be felt as to the policy he
may be expected TO pursue. Those
who know Mr.. Mcleod, and those who
have closely watched the brilliant and
sagacious tactics by means of which
he has lifted bankrupt corporation
out OF the slough of financial disaster
and physical decay, making ii sol
vent and most powerful com pany, will
have no fear but that he will use his
vast authority cautiously, wisely, and
for the public good.
No apprehension need be felt as to
the effect of the new order of things
upon the prices of coal. While it is
expected that the aggregated net pro.
fits OF the unified Reading system from
this source will he increased $4,000, 900,
neither furnace, nor foundry, nor
poor mans hearth will he taxed a pen.
ny to bring about this result.
The fact is that the old system of
marketing coal through an army of
sales agents quartered in magnificent
| Offices, levied tribute upon producer
any consumer Jointly to the extent OF
from rs cents to 81 per ton.
Mr, Mcleod PROPOSES TINT this sys-
TEN of fattcning middlonen into mil
lionaires shall cease, that the producer
md the consumer shall he brought to-
gether ana that the producer the car
rler and tho consumer Shall reap the
benefit OF the saving thus made.
The old system oil reckless and ruin
Gus competition has made coal cheap
or ut boston and Chicago than within
the borders of this State, with the re-
suit OF suhiecting our manufacturers
to formidable and highly injurious
rivalry shutting them out of markets
that ought by right to he their own,
and forcing the wages of WORDING
people in this, the richest State in tho
Union, to level with those OF the loss
favored States OF tho Fast.
Mr.. Mcleod proposes to stop this
unfair and absurd discrimination
against Pennsylvania. Tho manufac-
turnrQ Df this Stnta NpiIl INV -, ,,,,.,
and probably less, than they do now
for their fuel, while the price of those
at distant points will be SO adjusted
as TO pay reasonable profits to the
mining and transportation interests,
and at the same time give tho manu-
facturers of this producing State
he advantag to which their proximity
to the source Of supply justly entities
them.
II may be true that competition is
the life of trade" but il has proved to
be the death OF prosperity in the an
thracile regions of Pennsylvania. 10
the old system OF alternate strife and
truce between competing corporations
and the trade fluctuations resulting
therefrom, is due the arbitrary sus-
| pensions Of work and the reduction OF
| wages which have so sorely oppressed
the miners and caused such serious
| loSSeS TO tne mercantile com minutes
| dependent upon their trade.
Mr.. Mcleod proposes that hereafter
prices shall be stable and employment
steady at fair prices. He believes that
the new order of things will be es-
pecially advantageous TO those engage
ed in or in any manner interested i'll
the mining industry.
From financial point of view, the
general wealth OF Pennsylvania has
Teen increased millions OF dollars by
the successful elimination oil Presl-
dent McLeod's efforts. The companies
included in the new compact are pruc-
ticaliyowned in philadelphia and other
parts of the State, and the enormous
enhancement in the value of their
stocks and bonds, with the assured
certainty of regular dividends, means
increased happiness In thousands OF
homes, philadelphia Times Feb, 10.