The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-07-23
More wickedness on the Part of Capital.

The trusts and the com binations and the
conditions in which they are formed are
not always lacking in humor. There has
Just been organized in this city some sort
Of q combination among the Touring mills.
and. as far as we have been able to learn.
the circumstances are rather peculiar. The
money originally invested in Touring mills
was put there with view to conducting
the business Of milling grain and selling
the same to the general public at profit.
that profit being the legitimate and proper
psufruct of the capital 80 invested. plus the
energy and intelligence developed in the
conduct Of tho business. 1t was pros
porous and profitable venture: the flour
was good. 1t was sold at a fair market price.
and everybody was happy.
Stimulated by the attractiveness Of this
well-conducted industry. other capital was
presently forthcoming. and there were
more mills grinding more grain and seek
ing to divide with those already In the
business the local market. AS each strove
to get what it considered Its share Of the
trade. prices were lowered by one only to
be lowered still more by another. and thus
the industry went on.
mote Minnesota might be worth as much
as 81 bushel. and that bushel transmitted
by the mill in New York might produce at
tho market rate $l.25 worth Of that beauti-
full flour which makes the palatable and
wholesome bread OF our daily consumption.
But as competition waxed sorer the $1.25
shrunk cent by cent until it became no
more than seventy-ive cents. and all the
while that memorable farmer out In Min
nesota. by reason OF the fine market afford
ed him by the world at large. continued.
like the gripping monopolist that he is. to
exact his full one hundred cents hushel.
| The business of milling one hundred cents
worth OF grain and selling it to an unappre-
ciative public for seventy-five cents, con-
tinued obdurately until presently each
miller found that the dimensions OF his
trade in no wise compensated for the
shrinkage In his working capital. though
from the point OF view OF competition nothing
could DO more satisfactory than the amount
OF -four that could be sold for seventy-flve
cents while the raw material had cost a
dollar. Then 1t happened, most naturally.
that these competitors got together and
each said to his neighbor: "You arc ruin.
ing me and am running you. Let us quit
this nonsense. and let us go back to selling
-four at something moro nearly approach
ing the old prices. and let us once more
enjoy decent return upon our capital!
And they did 1t.
Thereupon there uprose n highly intelli
gent. unseliish. and philanthropic press
and made a mighty clamor that cit was a
monopoly which had 1t In its power to
double the price Of the poor mans loaf OF
bread; that its aim was to grasp the pos.
session Of the manufacture Of an article
which is an absolute necessary OF lfe;'
that the flour barons had Joined hands tC
use their highly protected industry tc
wiring the last penny from the suffering
toilers OF this great community. and that
the law must be invoked to the uttermosi
letter OF its power and severity to crush
out this infamous and 'intolerable complot
This IL sober statement OF facts as they