Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1896-02-08
$4,000 900, ,000CAPlTAL
Greatest and Richest Trust Ever
Known, Formed.
j. u. Morgan's New Deal Exceeds
Widest Dream OF Monopoly.

NEW YORK, Feb. IA new trust. greater,
richer, stronger, more important than any
other trust now in existence. has been
formed and begun actual business. Invoy-
ing thousands Of miles OF railroad and more
than $4,000 00O, 900 of capital of the Wander
bits and j. Pierpont Morgan. it is far ahead
of the widest dream of wealth and mon
opoly which the late Jay Gould ever con-
ceiyed. j. Plerpont Morgan is the mas
ter spirit and originator in tho new
trust, the magnitude of whose operations
makes the profits Of II gold ring seem insig
nihcant and triiling. The anthracite coal
mining and railroad companies sold last year
10000, 600 tons of coal ut IN average whole
sale price OF S3.Os. 1t Is proposed by the
new trust to raise the price to ~ II ton. On
decreased production an increased profit Of
$2S, 100000 Is assured and will be divided
among eleven comp anies. 1t is cas-, to esti-
mate what Il per capita tax this means upon
the country.
The great coal trust begins operations by
advancing the price Of coal 81 cents II ton.
This increase is only the first step. but it
means over $l5, 600, 600 increased cost to con-
sumers and an even greater profit to the trust
us many middlemen and selling agents are to
be dispensed with.
The permauency and success Of the trust is
not doubted by the most sceptical in Wall
street, because the companies which have
broken every previous trust agreement are
now absolutely controlled by Mr.. Morgan or
the Nanderb Its. The new trust is II ginut
compared to which the Standard OIL,
tho sugar. the tobacco and the leather
trusts are mere pigmics. A. \. Nc
Leod, daring his mcteoric career rs
President of the Reading railroad and
coal mines, tried 10 form such Il trust five
years ago, but the New Jersey Legislature
annulled his lease of two rival companies.
and j. Pierpont Morgan finished his career
by shutting him out of New England and
forcing the securities Mcleod had pledged to
carry through his Boston and Maine deal on
to the market in panic.
Now more than 30 per cent Of the Reading
ing railroad stock has been deposited with
Mr. Morgan for reorganization and voting
trust created for five years. The Reading
railroad and its mines have thus passed into
an alliance with capitalists whose board OF
directors are all 80 clossly commingled and
interchangeable that their board meetings
might be held simultaneously in single
room without conflict or confusion.
The magnitude of these interests since the
monopoly of anthacite coal mining has now
been added to the enormous railroad inter-
ests already centralized is so vast and far.
reaching that bankers and railroad men cam
not estimate its ultimate effect. Excluding
ing bonds, the new coal and rairoad
trust stands for nearly $1,000, 100000 capital
"a, ,OOU mites Ol fullTOau. lnlS cupltuI StuuuS
for two and half times the entire bonded
debt of the United States. Here is q list
Of the leading companies, with their
capital stock. There are many smaller
companies controlled absolutely by the Nor
gan-Vanderbilt interests:
New York Central capital stock, $17O0e0,-
900; Lake Shore. 3 100, 900, 900 Canada South
ern, $34 200. 900; West Shore, S5l ,OOO, 900;
New York, Chicago & st. Louis, $40 600, 900;
GhesnnpaEe g. Ohio S13O 0OO C(O. Michivnn
Delaware g. Hudson $40, 900. 600; Erie. s32l,-
900, ,OO9; Ontario II Vest rn, $4,000 900;
Del, Lack. & Western. $29, 100000; n. u,
N. H. & Hartford, $4,000 O0O Chicago &
Northwestern, $500, 600, 900; Chicago, Mil. &
st. Paul. $1s 100000; Clcv. Col. Gin. h st.
Louis, 300, 900: Beech Greek Coal, Sll,-
O00, 900; total, 81, ,S62, 900, 900.
The advance in the price OF coal made by
the trust Is the first step. 1t is proposed soon
to get about 80 cents ton more for coal than
last years prices.