New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-07-06
THE SO-C4LLED UONOPOLIES.

The king of all the trusts is the Standard
Oil That has reduced prices TO consumers so
far that nobody now completes with it except
in the courts. Next is the Sugar Trust, and
that concern is engaged in a struggle
against competition which reduces profits, no
one can say how much with an outcome yet
uncertain The fourth or fifth organization OF
the Whiskey Trust. after more or less bank
ruptcies is now before the public. The other
trusts which were conspicuous in years gone
bv. where are they? There have been many
Nobody can tell how many have risen and
fiourished and faded. Two still live, on such
basis that one is strong and one has to fight for
its life.
Perhaps il would be wrong TO infer that
like proportion, more than % per cent, OF the
new industrial corporations will meet Ike
disastrous fate But all Of them have their
work cut out. The tinplate company now has
10 negotiate with its workers. who ceased to
he workers on Saturday, and then has to face
competition from at least three strong com
panes Of recent origin. TO say nothing OF over
one hundred mills left in the country o'-tsde
the combination. The Steel and Wire corpora
ton has things much its own way while prices
are high and the demand Is large. and there
is everywhere scarcity Of rods and steel But
II has competition now, and will have more
Nobody can prevent the establishing Of add
tiOnal nail mills wire mills. The various
corporations possibly intended to divide the
entire field between them. But the relations
between the Steel and Wire concern and some
others are not such as promise harmony. even
If either or all held a monopoly, and they do
not 1t is circumstance repeatedly noted III
trade Journals that the relations between Mr..
Prick at the head Of the Carnegie company and
Mr. Gates at the head Of the Steel and Wire
are not such as TO make them mutually helpful.
The point Of chief interest is that not one OF
all these concerns has a monopoly. People in
terested in exploiting this or that stock often
so represent It. but the official record Of estab-
lishments In operation shows that the corpora
tons have not at any time controlled all the
production in any line, and the daily news dis
patches show that new competing concerns are
springing up almost every day. How many
there Will be within year not one of the man
ayers of the new corporations can say. 1t Is
not expensive for anybody to assert that he
can undersell any competition, present or to
come. The sugar corporation is expanding some
millions in that undertaking. and the end Is
not yet.
ton for every monopoly, partial or complete
The more it advances prices to the detriment
of consumers the more certain it is that some
body will get into the field to fight. 1t Is al
ways costly operation but in the end the big
monopoly has to pay the cost. The New-fork
Central will carry for half a century or more a
big annual interest charge because some per
sons thought it would pay TO build the West
Shore and make fight against the trunk line
combination. Whether they gained much or
nothing by that venture, they were able to
drive the great railroad. with Mr. Vanderbilt
at the head of it, into n bargain which has cut
down the dividends Of the New-York Central
ever since The industrial combinations are
not less vulnerable because they can work
more in the dark Every one of them which
raises prices above the cost Of outside produc-
ton is liable TO have merciless competitor on
its heels any day. and at times one which can
not be bought off as the West Shore was by
the vanderbllts and the Spreckels concern by
the Sugar company.