The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1898-11-08
A NEW lob eco TRUST.

A syndicate has been organized for
financing the proposed organlz ,tion Of
a company to be called the Continental
Tobacco Co., which company will &C.
quire the following John
FInzar & Bros, Louisville; P. h.
Mayo & Bro. Gncorporated), Rich
mond, Va Daniel Scotten 6 Co., De-
troit; the P. J Sorg %, Middletown,
O; Hardy Weissinger Tobacco Co.,
L 7uisville; the P. L Lorrillard Co.,
Jersey City; the Drummond Tobacco
Co., ST. L}uis, and the plug tobacco
business of the American Tobacco Co.,
of New Jersey. Ali the property,
rights and assets, ETC., of the various
companies will be taken, except in the
case of the P. L0rillard Co., where all
the common stock stock, consisting Of
the par value OF So, 600 600, is pur-
chased, thus giving the Continental
company control Of that company, it's
organic alton being maintained, and in
the case Of the American Tobacco Com.
pany, the Continental purchases from
that company the plug tobacco bust
ness and assets pertaining thereto, the
American retiring from the business
of mauuf acturing plug tobacco.
The chief business of the new trust
is to manufacture plCg tobacco and a
leading tobacco journal says that the
aggregate annual plug output will be
12J. 600, 600 pounds. Commenting on
the formation of this new combination
the Southern Tobacconist, published
at Richmond, Va, says:
"What will the leaf men dos What
will be left for them or the farmer now
or for the future, and can they exist
separated7 These are pertinent ques.
tions surely. What's the Exchanges
use, or of what use is it to membersG
Hadn't the leaf trade better combine to
reduce expenses, etc , by co operation,
too7 Oue man and one eff e and one
exchange can do the work OF a score,
or a score of economy. The manufac
turers' combine means a leaf combine
sooner or later, Or both will be followed
by n trust"
In another column in the same paper
we find this very rational and able
view of the question of trusts:
''They seem to thrive on the very
soil of Dissatisfaction of the masses.
We must repeat that which we have
often said in these columns, that as
long as the law psves the way for
them, opens it's gates to them, invites
and induces them, fosters and protects
them, whether right or wrong, what
impotence these exhibit who are kick
ing against the pricksl It is notably
true that where Condemnation is easy
and Intellectual that so many of us in.
dulge in it, yet Withel not a single
rational remedy has been brought
forth or taken up or taken hold of the
united trust people that will hold. We
do not despair. however. The anti.
trust sentiment is with the masses,
who suffer, however t. may be that
mauy are benefited. Robbiug Peter TO
pay or please Paul is not a fair game.
Rob the producer to paw profits to self
and then put the prices down to please
the masses, is often the pleaded good
that trusts do, forgetting that the
power Of great capital will rule raw
material, costs, LABOR, freight and
charges, with a discrimination against
ell these individuals Tobacco can be
sold very cheap to the consumer when
the trust has the power % level the
price to what it pleases to pay the
farmer, and so on.
The trust accumuletions are piliDg
up capital and making millionalres
and princes of money power among
the ~aristocratic few, while on the o her
hand, small industries are killed and
capital once used to go to their upbuild
Jog is idle in banks and will find em-
ployment someway.
In the meantime there is g posi-
bility of the laws equity and action on
the matter; possibly induced by the
fear that the government itself, it's
election of officers and judges would
altogether be trust formations, which
ia believed nevertheless to be true
so much so that little opposition is
needed to any trust measure"
We take this to a plain common