The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1892-09-10

keeping down wages are concerned.
Many OF the larger manufacturers, how.
ever, have been in favor of a much
stronger organization, capable of regu-
lating production and Of sustaining high
prices II profits. y few months ago
four of the largest firms agreed to com
bine under the name OF the United
States Cutlery company, with Il capital
Of 81, 800 900. Their prospectus said:
The business of these companies oman
featuring % per cent of all the pocket
cutlery made here) has steadily increased
year by year, and the net profits of these
companies for a period of over three
years are largely in excess of the sum
necessary to have paid = per cent. divi-
dends upon $500 900 preferred stock"
1t is also claimed that the new company
could pay dividends of ) per cent. Oh
$500, 900 and 10 per cent. on the other
$500, 900.
According to the testimony given IL
1890 before the ways and means com
mittee the combined investment of these
four companies was only $400, 900. The
manufacturers then put on long faces
and tried to make the committee believe
that the pocket cutlery industry was
about to expire under a so per cent.
duty. 1t now appears that they We're
then making ''largely in excess of 16
per cent. upon their actual capital
lS400. 000), and that they are now in
shape to make 4G per cent. on this SANE
amount. They add in their prospectus
that prices upon cutlery have never
yet reached those which could have been
asked by the increased rate of tariff"
That their claims are not eXtravagant is
evident from the announcement in The
House Furnishing Goods Weekly of
Aug. !. 1892, that 1.-THE Southington
Cutlery company. Of Southington, Conn,
has declared a quarterly dividend of ;
per cent" 1t is clear that the increased
duty was obtained under false pre-
lenses, if not by actual fraud. And
these are the class of men who reap the
benefits of McKinleyisln.
Notice now how these spoils are di-
vided between the manufacturers and
their employees. The Republican press
points with pride to three companies
the Canastota Knife company, the New
York Knife company and the Thomaston
Knife company, employing altogether
about 400 hands-that have advanced
wages about 10 per cent. 1t is true that
since 1890 about three-forrths of the
employees in these factories have OBJ
tanned advances that will average be-
tween and % per cent. These advances
have been secured only because the EN-
ployees were organized and struck or
threatened to strike for higher wages
Strikes are now on in three other fac
tories. But suppose that all of these
400 employees lave had their wages ad-
vanced IL per cent. and that they earn
an average Of $500 each a year (the ac-
tual average is much less. Their total
benefit from the new tariff admitting
that it made the advance possible) would
thus be less than $24. 600. The yearly
product Of all the factories is worth from
81 800, 900 to -. o00, 900. The 80 per cent.
advance in prices then increases the
profits of the manufacturers about $500
900. That -. the manufacturers have
retained 81 per cent. Of the spoils and
grudgingly yielded mp ) per cent. to thu
wage earnerS
The American user OF pocketknlveS
has taken 500 900 out Of one pocket AMI
made it Il present to these foreigners t0r
the privilege of carrying an American
knife III another pocket, and this III
addition to a similar amount bestowed
upon the same foreigners under the 80
per cent. duty prior 10 1890, If this be
the best thar Mckinley can do for us il
is time we were Ending il ont. 1t will
be zone i'll CIR 'rr.' Is some day.