Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-06-07

The latest proposed illegal combina-
ton Of capital for the enrichment OF
few by the process of squeezing ln~
earned profits out of the many by the
thumbscrew method OF the trust, is
union of the big steel interests or the
United States in one gigantic combina-
ton to arbitrarily control prices. 1t is
said that only the breaking out OF the
war has prevented contamination OF
the deal before now, and, as 1t is, all OF
the concerns in the combination are
being brought under one control until
before long the users of iron and steel
in any form will find themselves in the
grip of an enormous trust. We take
the following details of the combination
from New York contemporary:
This combination is being formed by the
Rockefellers Andrew Carnegie. j. Pier
pont Morgan and the so-called DreXel
crowd of Philadelphia. The plan was con
ceived by J. Lowber WEIGH, who is at the
head of Drexel & Co. the representatives
of J. Pierpont Morgan & Co, in Phlladel-
phia.
Through J. S. Morgan & Co, the London
representatives of the same banking
house, English money is to be invested
in the proposed trust.
The first outward move showing how
the control of the companies in the deal
is being secured was the recent election
of Charles II. Coster, who is a member OF
the firm of j. p. Morgan & Co., as di-
rector of the Illinois Steel Co. Following
this move came the news from Philadel-
phia that Drexel & Co had secured con-
troll of the Cambria Iron Company, one
of the largest concerns in the country.
Other important corporations. TO be talk
en- into the deal are the Bethlehem Iron
Company. Ohio Steel Company, Scranton
Iron Company, Lackawanna Iron and
Steel Company and the Minnesota Iron
The great iron mines of the Mesaba
range in Minnesota and the mines
through Michigan and Wisconsin 'front.'
the Rockefellers and Andrew Carnegie.
The iron ore produced there is the best in
the world for the manufacture of steel.
1t is produced SO cheaply and is found in
such immense deposits that the market
could be flooded with ore if the produc-
ton was not kept in check:
By securing the control of the big iron
and steel manufacturing plants and with
plenty Of ore the trust can regulate prices
so as to practically shut off outside COM
The ore carrying fleet which John D
Rockefeller controls on the lakes can be
employed in Transporting ore only to the
plants IN the trust and to the exclusion
of all others.
The principals in the new trust are not
giving out any information the de-
tails of their scheme. 1t is being gradual
~ worked out. and Wall street expects
when the war is settled the new stock of
this big combine will be placed on the
market
So, about the time the American peo-
pie will be feeling heaviest the addi-
tional burden of hundreds Of millions Of
increase in taxes to defray the expenses
of the war, this new gigantic octupus
will begin its blood sucking operations
and the people will be burdened with an
increase of prices of the prime necessity
steel.
Yet there are many so-called states
men in Congress who oppose with ali
their might the proposition that rich
corporations should be made to stand
their share of the war taxes, According
to Republican policy the people must
stand all the burdens of government
while the corporations are granted
all the privileges, and the richer and
greater the corporation or combination
the greater the privileges it may be all
lowed to exercise in gouging its prey,
the people.