The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-02-10
GREATEST OF TRUSTS.
j. Pierpont norgan's New Deal in
Coal.
COAL ADVANCED So CENTS PER TON
As a starter by the Trust-COnfrOiS
over So, 100000 900 OF Capital.

As a starter by the Trust-COntrOIs
Over 81, 100000, 900 of Capital
A new trust, greater, richer, stronger,
more important than any other trust now
in existence, has been formed and actual
operations begun.
Involving thousands of miles of railroad
and more than So, 900, 600, 900 of capital of
the Vanderbilts and J. Pierpont Morgan,
it is far ahead of the widest dream of
wealth and monopoly which the late Jay
Gould ever conceived. J. Pierpont Morgan
is the master spirit and originator of the
new trust, the magnitude or whose opera
tions makes the profits of gold ring seem
insignificant and tri1ing. The anthracite
coal mining and railroad companies sold
last year 46, 900, 900 tons of coal at an aver
age wholesale price of SO. 08. 1t is proposed
by the new trust to raise the price to % a
ton. On decreased production an increased
profit of $3e, 600, 900 is assured and will be
divided among II companies. Tt is easy
to estimate what per capita tax this
means upon the country.
The great Coal trust began operations
by advancing the price of coal 30 cents a
ton. This increase is only the first step,
but it means over SIS, 900, 900 increased
cost to consumers and an even greater
profit to the trust, as many middlelnen
and selling agents are to be dispensed
with.
Tho permanency and success of the trust
are not doubted by the most skeptical in
Wall street, because the companies which
have broken every previous trust agree
ment are now absolutely controlled by Mr..
Morgan OF the Vanderbilts. The new
trust is a giant, compared to which the.
Standard OIL, the Sugar, the Tobacco and
the Leather trusts are mere pyglnies. A.
A. Mcleod, during his meteoric career SIS
president of the Reading railroad and coal
mines, tried to form such q trust five years
ago, but the New Jersey legislature an
nulled 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 90 per cent of the Read
ing railroad stock has been deposited with
Mr. Morgan for reorganization and vot-
ing trust created for five years. The
Reading railroad and its mines have thus
passed into an alliance with capitalists
whose board of directors all SO closely
conmingl and interchangeable that their
board meetings might be held simultano-
ously in q single room without conflict or
confusion.
The magnitude of these interests since
the monopoly of anthracite coal mining
has now been added to the enormous rail
road interests already centralized is so vast
and farreaching THAT bankers and railroad
men cannot estimate its ultimate effect.
Excluding bonds, the new coal and rail
road trust stands for nearly 81, 500, 600, 900
capital and "a, $50 miles of railroad. This
capital stands for az times the entire
bonded debt of the United States. Here
is list of the leading companies, with
their mileage and capital stock. There
arc many smaller companies controlled alb
solutely by the Morgan Vanderbilt inter
eStS: