The Advocate and news., 1898-11-16
Just Watch the
Trusts Grow.
riuItlpIy Faster Than Suits Can BE
Brought to Dissolve
Them.
CAPITAL: S7,7Oa,76S,O 10000.

being formed every day ana LuOSe now
In existence have an aggregate Capitali-
zation of $2,7O2, ,76S,9OO. The tendency
to concentrate special industries and
bring them under the domination Of mo-
nopOlistic corporations gathers force
steadily. Almost every branch Of the
manufacturing business now has It's COM
bination, or trust, which controls both
output and prices, says the New York
Herald Competition Is being crushed
out by the big aggregations Of capital.
The small manufacturer finds that he
must either join the combination or go
to the wall, and in many cases he does
not even have chance to join the COM
blnation. Within the last six months
articles Of incorporation have been taken
out by more than one hundred compa-
nies of abnormal capitalization, which
are designed to take over" and concen-
trate the business Of scattered companies
in the various fields Of industry. And
this in the face of the fact that the
United States Supreme court has now
pronounced even the railroad combina-
tiOn known as the Joint Traffic AssOCia-
tion to be violation Of the federal anti
trust law.
Trusts are multiplying much faster
than suits to dissolve them can be
brought in the courts. It is only a few
weeks ago that the great Federal Steel
Company, with capitalization Of $780,
100000, was incorporated in New Jer-
sey. Recent meetings have been held in
this city by the leading manufacturers
of acids and chemicals with a view OF
forming $50,0OOOOO acid trust. The
silver-plate interests have just combined
under the name of the International Sill
verware Company, with capital Of $780,
900. .0OO An American Mating Company
has been organized with $9000O,O0O of
capital. Then there is the American
Thread Company, capitalized at $1S,OOO,-
900, and the Knit Goods Company, with
$3O,0OO,00O both recent organizations
The tobacco trust Is now assisting in
floating new corporation-the Conti-
nental-to control the factories making
plug tobacco, capltallzing 1t at $75,OOO,-
900. One of the largest Of all Is in pro-
cess of formation by owners of the great
-four mills in this country. A capitaliza-
ton of $50, 100000 is proposed for 1t.
New Jersey and West Virginia are
conspicuous among the States that in
yite combinations of capital by liberal
incorporation laws. More large indus
trial companies, commonly denominated
trusts, have been incorporated in New
Jersey within the last few years than In
all OF the other States combined. Irre-
spective of their political affiliations, the
legislators Of New Jersey have stood
together in enacting laws favorable to
corporations Everything possible has
been done to make legal combinations Of
financial interests easy, convenient and
comparatively inexpensive in the State
of New Jersey. The scheme OF organiza-
ton as contained In a certificate Of In
corporation obtained in that State Is
largely left to the incorporators. Within
certain limits parties by their certificates
OF incorporation obtain what is practi-
cally equivalent to special act Of the
Legislature comforting the most liberal
powers for business purposes.
The Standard Oil Company, being the
most conspicuous, far-reachlng and pow
erful of the trade combinations, natur-
ally commands first attention in the emu
meration of trusts. It is the typical
trust, although specifically and peremp-
torlly forbidden by law from being a
trust. This combination controls petro-
leum oil rehneries in all the principal
Northern cities of the United States, and
1t produces about 65 per cent. of this
countrys total output Of refined oil. It
embraces forty or fifty smaller compa-
nies and controls the pipe lines laid for
the transmitting of oil to tide-water. 1t
has for years absolutely controlled the
market price of petroleum. In accord
ance with the mandate OF the federal