The herald., 1896-11-18
First q corner then a pool. then trust

First corner, then a pool, then a trust,
has often been the genesis. The last
stage, when the trust throws or the
forms Of combination and returns to
the simpler dress of corporations, IS al
ready we'll along. Some of the "sympa-
thetical corporations on record nave
no doubt ceased to exist. But that they
should have been attempted Is one of the
signs of the time. and these attempts
are repeated again and again until sue
cess is reached.
The line of development is from local
to national, and from national to inter-
national. The amount of capital
changes continually with the recrystal-
lization in progress. Not less than five
hundred million dollars is in the coal
combination which our evidence shows
to have flourished twenty-five years;
that in oil has nearly If not quite two
hundred millions; and the other combi-
nations in which its members are lead
ers foot up hundreds of millions more.
Hundreds of millions of dollars are
united in the railroads and elevators of
the northwest against the wheat grow
ers. In cattle and meat there are not
less than one hundred millions; in whis-
ky, thirty-five millions; and in beer
great deal more than that; in sugar,
seventy-fve millions; in leather. over
hundred millions; in gas, hundreds of
millions. At this writing union Is be-
ing negotiated of all the piano makers in
the United States, to have capital of
fifty millions. Quite beyond ordinary
comprehension is the magnitude of the
syndicates, if there is more than one,
which are going from city to city, con-
solidating all the gas works, electric
lighting companies, street railways in
each into single properties, and CONSOLE
dating these into vast estates for cen
trail corporations of capitalists, control-
ing from metropolitan offices the trans
portation Of the people of scores of cities.
Such a syndicate negotiating in Decem-
her, 1892, for the control of the street
railways of Brooklyn, was said by the
New York Times. ION absolute author
ity, TO have subscribed $4,000, 900 toward
that end. before single move had
been made or price set on single share
of stock" 1t was in the same hands is
those busy later in gathering together
the coal mines of Move Scotia and put
ting them under American control.
There are in round numbers ten thous-
and millions of dollars claiming dtvi-
dends and interest in the railroads OF
the United States. Every year they arc
more closely pooled. The public saw
them marshaled. as by one hand, in the
maintenance of the high passenger rate
to the Worlds Fair In the summer Of
1893 Many rates are higher than thirty
years ago.
Many thousands or millions or dollars
are represented in these centralizatons.
1t is a vast sum- and yet 1t Is but minor
| ity of our wealth.
Laws against these combinations
| have been passed by congress and by
many of the states. There have been
prosecutions under them by the state
and federal governments. The law ani
the lawsuits have alike been futile
| In few cases names and form of
orpaniza tiOr have been changed in cor
sequence of legal pursuit The whisky
sugar ard oil trusts had to hang on.
new signs. But the thing itself. the
| Will and the power to control markets.
| nvelihoode, and liberties. and the toll
GRAFTON q this by the public-this re-