The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1894-10-05
CAPITALISM UNVEILED.
The Pullman Investigation Tears the Mask
from tho Face Of Hxnhcsisx-


The Pullman Investigation Tears the Mask
from the Face Of Hyp6cfisy.
The Pullman strika and its correlated
sypathetic strike of the 4. r. e., has
precipitated an inquiry into the nature:
methods and practical workings of or
ganized capital that bids fair, to, ult;-
mate in the overthrow of Capitalism
rs an enginery for overthrowing the
rights of the industrial masses
An analytical inquiry into the organ
ism Of the Pullmaneeraey reveals an
aggregation of elements that goes to
make it up for which society itself, as
a whole, is largely responsible. First.
the far=reaching nature and long-lived
character of the patents that enter into
the makeup of the Pullman palace car
itself is a terrible monopoly Then
comes the patents entering into the
machinery for the production of the
ears from raw material, experimenting
the first set of patents and intensifying
their power, and finally the monopoly
CONTRACTS with the railroad companies
for using the cars on their lines; ell:
minating in an extortionate charge for
use of berths in the cars themselves;
finally in this, throwing the whole ,ag-
giegate extortion on those compelled
to use the berths.
Going back to the organism itself
and what do we find, to say nothing
of the autocratic management of the
concern.
The first thing that strikes us is the
aggregate market value of the stock,
reported at $50, 1000, 900. What an APP
palling sum.
But looking critically into the actual
cash cost of the stock, is another and
very different thing: Taking the mar
ket value OF the stock at ordinary
figures, we find it running at about
s1.7s for 81 worth of stock. But each
dollar of stock itself, mind, only cost
40 cents in cash. Applying little
arithmetic to these data and what do
we find?
Dividing $50, ZOO, coo by SITS gives as
result, about SIG, 1854, 900. This is face
value of the stock. Now it is clear if
81 face value in stock only cost 40 cents,
the SIG, 1854, 900 of original stock must
be that each dollar of stock originally
cost four-tsnths of Il dollar. Divide
SIG, S54, 900 by 10 and we have fesnlt
81, 6S5, 400. This in turn multiplied by
4 gives us the actual original cost of
the $50, 600, 900 of stock and water the
market represents. Multiplying the
81, 6S5, 400 by and we find the true in
wardness of the villainy to be Sc, AL
600. Six million, seven hundred forty
one thousand, six hundred dollars.
My God, is it possible this is the fertifi-
cation Of land MONOPOLY. patent rnoz
nopoly and use of car monopoly cor
nered up in the Pullman monopoly as
representing the great S3O,OO0,00O of
market value the stock board indi-
Gates?
indeed, truth is stranger than fic-
tion'' But this insamy only begins
here. Looking further we are pleased
to see Marquis de Pullman's own fig
ures he furnished the world as his JUS
LITIGATION for the terrible cut in the
wages of his employees in the last year.
He says: 'All the employees of the
Pullman company receive 5000 as aver
age annual wages" He neglects to
tell us that average was made up by
including in it official salaries and
large prices to heads of departments.
But let that go, call it 5000, and what
do we find? Why, they had 1900 en-
p1oyes which at 5000 per annum gave
as wages paid the sum of ss.4O0,OOo of
aggregate annual wages paid employees
Referring again to Mr.. Pullman's
late figures and we find a quarterly
| dividend declared of 100000. Multi
plying that by four quarters in the year
and we have So, 100000 and the appall-
ing coincidence that dividends exactly
equal the aggregate of wages paid. No
wonder the strike. Going little fur
ther, we have seen the original cash in
vestment was $6,741, 60o. Annual ag-
gregate of quarterly dividends So, 4OO,-
900 or actually over 80 per cent. cash
| dividends on original cash investment.
What rot it was for Pullman to tell
they were losing money.
But we are not done yet. Look at
the terrible drain back on these en-
| ployes to that company after the
meager pay they get. 1t is reasonable
to reckon the rent at $40 family per
month. A drain back to the company
of S12O a year of the 5000 of wages they
receive; this is again supplemented by
an extortionate profit charged them on
their supply of gas, electric light and
water, over and above what other resi-
dents of Chicago pay. Could conditions
in Siberia to Russian eXiles be much
worse than this?-W. T. Wallace, in
| Ahiprtop MI \ EnterDriSe-Uerald.