Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-04
BY Henry w. Lamb

| BY Henry w. Lamb
s Mr.. Byron w. Hollis letter of Octo-
Der 10th, describing the Tin Plate
Trust has been widely published in the
press and has aroused comment all
over the country. 1t has not been re-
since its publication not only supports
its assertions, but emphasizes them.
The Trust has maintained the high
price of tin plates, although materials
have declined. more mills have beer
closed and more men thrown out of en-
ployment, while the testimony given
before the Industrial Commission
/ (much of it by officers of the TrusD
has fully borne out the charges CT mon
opoly, over-capitalization and extor-
ton made possible by the protective
duty of $3.50 per box Of 100 lbs.
Mr. Hollis letter upset the pretence
that the cost of raw materials caused
the Trusts advances in price, by show
ing that the advances in tin plates pre-
coded the advances in steel and pig tin.
He also showed that the advances in
steel and pig tin were insufficient to
justify the Trust prices, and that the
latter were arbitrarily set at the high
est point to which the Trust could
judiciously go under the protective
duty on imported tin plates.
If 1t were true, as asserted by the
supporters Of the Trust, that its prices
were regulated by the cost of materials,
then why does the price remain at
$465, instead Of dropping five per
cent?
Mr. Hollis letter gave prices Of Oc-
tober 9Th. Since then steel has drop
ped So a ton, or 10 cents on the steel
in a 100 Id. box CT tin plates, the cost
being $36 per ton on November 9th,
as against $3S on October 9Th On Oc-
tober 9Th pig tin was $3225 per 100
lbs, while November 9th it was $27.60
per 100 lbs, making drop Of 119s
cents on the tin in thinly coated box
of tin plates. November 9th, then,
materials have fallen nearly % cents a
box, but the price of tin plates remains
the same as on October 9Th, $4.65, or
about dollar more than tin plates sell
for in the English market
1t is not probable that the Trust
made tin plates, however, out of steel
that cost as high as the above figures.
lations with steel combinations and it
is well known that the nominal price
of steel this summer and fall has ap-
| piled only to new purchases, not to old
contracts. The Iron Age recently said
"As matter of fact the figures at
which new contracts for 1900 delivery
are being entered into, say s36. Pitts
burg, is heavy advance on the figures
at which the old contracts now expiring
were taken"
But Mr.. VIM. T. Graham, vice presi-
dent of the American Tin Plate Co.,
| did not breathe wcrd of this in his
testimony before the Industrial Com
| mission at Washington, and declared
| that ''the profits were not so large as
| formerly" However, the officers of the
American Tin Plate Co., in their testi-
| mony, conficted with each other in q
most amusing way. To balance Mr..
| Graham's statement about former pro-
fits, Mr.. D. G. Reid, the president of
| the company, testified that "the oonsoI-
| idation had been made to prevent abso-
lutte failure, as many Of the tin plate
establishments were rapidly drifting
into bankruptcy" Against that, how
ever, Mr.. F. S. Wheeler, the treasurer
of the company, anxious to explain its
capitalization, testified that "the COM
mon stock of the company represented
the price of the good will Of the differ
| ent companies which constitute the
combination"
Now what was the commercial value Of
the good will of about forty establish
ments, many of whom were rapidly drift
/
or even $2000o,000? Was it anything? So
| far as any other than the future CONNER
| cial value was concerned there was none,
| for the tin plate manufacturers had not
earned any good will.
| Since October 10th the Trust has great
ly increased the said list which Mr.. Holt
| then gave of plants. comprising 81 mills,
| shut down to adjust the supply to the re-
! stricted demand at the artihcialy high
! prices. Under date of November LIST, the
| following statement was sent to the Amer
| lean Metal Market at Pittsburg:
THE American Tin Plate Company to-day
| served notice Of discharge on the superin-
| tendents and clerks of all of its mills in
| Pittsburg. The discharges will take eff
| feet November 18th. Some OF the plants
have been closed temporarily it was said,
| for some time, but the latest move shows
| the shut down to be permanent
| Another item from Washington Pa,
| November 18th: The American Tin Plate
| Company's works have been shut down
until further notice. No reason has been
| gwen out for the suspension. and the local
| officials say they are acting under orders
from headquarters Five hundred men are
| thrown out Of employment
| Mr.. VIM. H. Griffiths. tin plate maker
\ rxf ae1,f -ha Ho-