The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-02-20

New York. Feb. i9.-The joint executive
committee appointed to investigate the
existence of trusts and monopolies in New
York resumed its sessions this morning
II was 1880 o'clock when Senator Lexow
raped for order. Henry Burn. president
of the National Wallpaper company, who
was on the stand when the session ad-
journed yesterday. was recalled.
Mr.. Burn produced copy of the con-
tract made with agents. or the factors
agreement" as Senator Lexow termed it.
One of the clauses requires agents 10
handle only the goods of the National
Wallpaper company.
In reply to a question, the witness said
that his company had an agreement with
worked eleven months of the year
Does the agreement hold through the
United States?'
Yes. sir; in every one of our fac
tories
Mr.. Burn said that when the company
was organized it comprised "a sub-com-
panies and seven competing factories
were left out. Ten factories were closed
within two years after the consolidation.
This, the witness admitted, caused a de-
crease of 10 per cent in the labor en-
ployed. The factories were closed be-
cause they were making inferior goods.
He said that the rate or wages was not
decreased after consolidation, except 10
make them uniform: the company had
absolutely ceded everything required by
the labor union. The witness said they
employed % per cent more statesmen and
more bookkeepers than before CONSOLIDATE
ing; that prices to the consumer had de-
creased.
Chairman Lexow here announced that
he would now take up the United States
Rubber company's affairs. The other wit
nesses in the wallpaper business were eX-
cused until this afternoon.
Charles r. Flint was then on the stand
aYv,A ~ Ill ..T
the United States Rubber company to the
various companies.
Il want to state" he said, that the
United States Rubber company had. as
corporation, no knowledge of the distri-
button of stock by the bankers. L know,
however, that the stock was distributed
on the basis of preferred stock for tangi-
BILE assets and common stock for trade
marks, patents etc"
Mr.. Flint then handed in the original
Simmons report. on which the distri-
button of stock was made, but the sched-
ule of values asked for did not accom-
pany it.
In reply to a question. he confessed
that he had not the information which
would explain the increase in the price
of rubber shoes since the consolidation.
Mr.. Flint denied that the United States
Rubber company had become the foot
ball of spectators. He said it would reg
ulate prices of goods as they did prices
on railroads, because conditions varied so
wise move for the state to buy all in
dustrials and run a paternal form of
government and he saw no other way by
which the state could regulate prices.
The piomoting contracts showed that
S40c. 900 had been paid for promoting the
rubber combination, of which Mr.. Flint
received 500, 900. the banking company
$780, coo and Mr. Earl 100000 Mr.. Flint
said the object of the combination was
to promote the natural law of trade. He
then entered into long discourse as to
the object of Capitalization of industries.
The afternoon session was held in a
city court room, the aldermanic chamber.
where the committee had held its Drevi-
Ous sessions being required for a meeting
Of the board of aldermen. Mr.. Flint took
the stand. He said that prices today
were lower than for nine years previous
to the organization of the United States
Rubber company. He also stated that
the price-list was lower now than ever
before.
How can the prices be lower when the
prices you give are higher?
Because the discount to jobbers was
higher before the organization of the
company
The explanation of the witness caused a
augh.
THAT means, does it not that there
vas a greater profit to your organiza- (
ion2'
Mr.. Flint dissented. He declined to adj /
nit that there was an agreement between /
he United States Rubber company and 1
he bankers prior to Sept. 8. 1892.
An adjournment was taken until to- .
morrow