New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-18
PULP MEMS MEETING OVER
NEW OFFICERS OF THEIR ASSOCIATION
ELECTED.
PAPER BY PROFESSOR GTDDiHGs. OF CoLrM-
BrA on COMBINATIONS or CAPITAL ~
RELATION TO NATIONAL PROSPER
ITY'-sPACE TO BE TAKEN
AT TIE PARIS Elk

POSITION
The annual meeting OF the American Paper ana
Pulp Association continued yesterday fnorhlns
in the banquet hall Of the Waldorf-Astora i"e
president Of the association. Hugh j. ChlsholH''
again presided and the reading Of papers was con-
tiuued from the session on Wednesday Afternoon"
! Some F1c,s IN Hydraulics" was the title OF an
able paper read By Clemens Hcrschel Mr. her
schers remarks were frequently appauded' ana
vo;e Of thanks was rendered 70 him at the close.
Professor Franklin II. Giddngs cf Columbia INT
vereltv read a pauer on combinations OK Capital
in Relation to National Prosperity Great interest
was shown in this paper. which was listened 10 oy
n fun audience Professor G!ddings said IN the
course OF his address
Imagine a commercial world in which the out
nut 81 every important product Is controleu ny
Single organization Imagine that the entire "hea'
crop is commercially controlled by one trust the
cotton crop By another the iron and steel output Oy
another the paper output by yet another ana 50
on through the entire list Of marketable goods II
such a commercial world so organized Woua each
OF these greai trusts be able 10 fix prices IN accord
ance with its own desire 10 amass wealth ana pay
dividends irrespective OF the wishes and edorts OF
the consumers? The prevailing opinion among con-
sumers Is. I think that Just such thing "o"l
happen and therefore the consumer finds hi;nSeii
regarding the trust as n gigantic power Tor eA'or-
ton. The truth. on the contrary, IS that by no
conceivable possibility could any such thIng nap
pen. While an Individual who absolutely controled
the supply of any given commodity might con-
ceivably compel his felow-men to pay eXtortionate
prices ,or a very small percentage Of his product.
which was abs 1lutely Indispensable to their exist
ence by no possibility could he compel them 70 pay
such prices for that vastly greater percentage
which they desired mere for purposes OK con-
venience comfort and pleasure.
Producers organized into trusts" added Froies-
sor Giddngs. quite as much as producers VINO
conpete with one another. are Offering their com
modlties to a consuming public whose annual IN
come IL a limited amount OF purchasing po"e'-a
public which therefore distributes 4ts cominefciai
favors unequally among all these different trusts
and therefore compels the trusts 10 compete WIN
one another. however perfectly each trust may
have suppressed competition among its own pro-
ducing members"
\ motion in favor Of the gold standard moved ny
Warner Miller, chairman OF the Committee on hes-
outions was adopted. and so was resolution III
favor Of increase OF mail facilities az reduced rates
After some other resolutions had been agreed TO II
was decided that the association should establish
a bureau OF credit. The question Of establishing
net nnnent headquarters In the city for the asso-
citation and the appointment Of a permanent saia-
ried secretary was referred TO the g. ,nmitte" on
Headquarters. The COMMITTEE on me ia'la ENto-
siilon recommended the appointment OF specIaI
oiiti ~ H. iisnis,, ~ American pulp and
The 9oli5wing oficcrs wee elected for the cur
rert 80. pr.silonf-rrugh j. chisholm. Vice
pr rres,derts-Wrlt.ng section William F. Whiting,
book section. James y. Mohr section George
c. sherman. wrapping section. -amuel J.. IRAN;
wood-pulp section kennedy p. Fullerton; chemical
fibre section. Augustus c. Paine. jr.; board section
c. D. Brown Secretary and treasurer hester ".
Lyman. Delegates 10 tae Aaiona, bS5tu 81 4'aoe-
William r Barker and William II. sharp
This closed the business OF The meeting. Whlcn
then adjourned until next year
About three hundred and hty members ana
quests were present AZ the annual dinner or the
association last night. The president u the asso-
clati0n Hugh J. Chisholm, again presided
After q few opening remarks from il' CHAIRMAN
Charles W. Knapp. q THE 81 Louis Repl1N9
and president Of the American Newspaper Pub
fishers Association. which is now holding IT'S an
nual convention In this city, replied 10 the toas'.
"'The American Newspaper" He said. in ne
course II an abe address. thar be regarded his
hearers as q distinguished company of philanthro-
plsts They were pouring their productions into
the lap OF tho American public with a generosity
heretofore unknown. Cheap paper was responsive
for great part OF the present power or the Amer
lean newspaper.
urnphs OF the Useful Arts" and Warner Miller re-
piled 10 the next toast. "Our Anniversary" lie
referred 70 The 1ourishing condition OF the paper
trade saying that the output had increased nearly
~ ue- cent in q few years Other speakers were
William T. NcElrOy on The Debt OF Literature
10 Paner" and the Rev. DR.. Minot J. Savage on
1.-The Man Of Affairs