The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-04-16

pete Tor n living, take away freedom OF
contract. and PREVENT the people OF the country
from carrying on their business in the way
they have in all sections OF the land chosen as
at the present day tho most advantageous
Democratic leaders VINO have forced into their
party platforms declarations antagonistic to
the trusts have placed themselves and their
party in tho light OF drawing an Indictment
against the country they seek to govern. 1t
seems to be q modern way Of doing what az
gressive princes used to do when they set out
TO impose their government upon another poo
pie on the ground that their way OF governing
or saying their prayers and collecting taxes
was the better one. But the world has done
away with most OF that sort Of princes.
THE ORIGINAL AND REAL TRUSTS.
1t is desirable that a more accurate idea OF
what the trust really Ia should be given.
There are. properly speaking. almost no
trusts now. The word Is used commonly.
but inaccurately. as descriptive OF all those
combinations OF capital and OF men which. by
consolidating individual effort and energies in
various lines Of industry. have followed in tho
wake Of those earlier organizations which were
really trusts and which were the first enter
prises OF similar magnitude and character with
which the people became familiar. The antaR-
onism to them was caused precisely rs that
which howls against their Successors to-day.
through q feeling Of resentment that they en-
abled a few men to make very large fortunes.
But they were declared illegal. They went out
OF existence. or certainly most OF them did.
But the system Of united business effort did
not cease with them.
The trust" Of to-day Is q combination OF in
terests In the form OF a company holding n
controlling share Of the stock OF several smaller
companies In the same or an allied business. or
- ,ftn,, n 1aanIiJntt~ - ,o,-.
or COMPANIES pursuing the same or an allied
form OF business. into one great company which
becomes the absolute owner OF the stock and
properties OF the companies or concerns which
1t has absorbed. Consolidated companies" ex-
presses the real nature OF these organizations.
but. as there is no single word that conveys
the exact idea to the average mind. the word
trust. formerly used as expressive OF a similar
idea. has been chosen as a make
shit term to cover all such corporations. A
recent legal writer who so uses 1t divides his
trusts" into three classes. with explanations:
The trusts that are TOR were) trusts. those that
control various companies oy preponderant
ownership OF stock. and the consultations In
which the dominant company is the actual
owner OF the stock and property OF the CON-
ponent concerns.
The original trusts were bodies OF men in
whom reposed. as a legal trust. the voting and
other powers OF the several companies they
represented. these powers having been dele
gated by the companies. which retained their
own corporate existence. although without
power OF individual corporate action. 1t was
because OF this announcement by corporations
OF their power to act. while held by the State
reSpohsioe u y "c''nG corporate Douies' 'nat the
In this STATE ~
Tho oonso,;,o,od on,o
norotions forn,od rr1or ~ L. .o.s.sau.
under r. ond nrotootod h, - whor .ho -
oogua mr. tho uninformod man ho,,,s ~,
With tho +r,st 10 md oin,o NJ tbo oonso,iaotod
comn ,nios ho aim NJ tho nr;no,,to ~ n,hioS
tuo man form n nartnarshin ~ ~, a,,sh
what ono ,lona oannnt onaot II tont AZ
stringent lave n,ssod IN COVE ~ ,ha ctst.. T.,
resnorsot n tho oIo NOR ror ,nti- tr,st oo;s,ot,an
are ca framed that thev actu.llv forhh, tha os-
sociotion of man in nnrtnersbin T, h,a hoon
said TINT orr own Naw yorr Anti-Tr,ot low,
wonld IN That Twontv-oiaht S,a,as 3D.,
nassed tbese Anti-Trnst lovs hut a. rarnonno
- thor, nas h.on nronannaoJ saoSo",
II hoa hoor oesortoa ,ha. a. - -"
used for h,.clmau nrosonrtions ,o,mr ;, -.
anod undor tha,n ,rIasa oartaIn s.onnn"
80 tha ",rrs,s ;, ,,oro non,n,io, - M
legal vrritor n,eviousIv roforrod 70 Jao,a,as
that tbere ,re now lous enough ana .hat thon
= aneo,out tnr ~. -. '"" II
"trusts"and that what ia nantod ia nnso.m
t;ons nndar tbom Who IL riaht ana ~ 80
49,, go a. til, =. ..a....
trust party mus i'Sen III pos''ioh 10 iorce the
prosecutions. travail and hardship and bust
ness and Industrial distress loom IN behind
snccessfu, Democracv
eu'ee9ei"i Deiio'rac5'
NEW TRUSTS" ~aEspoSs1BIr FOR OUR EXPORTS
Taking up the question OF the effect upon
the country OF such success. a widely known
w,,h i,rno aomuos.,,I $500. -
man Win iaree coihuierc'al interests pointed
to q chart hanging near his desk. on which
were traced ljnes showing tho va,ue n, ;mnorts
WA 1890 - tSa I1n,tns 60 a'ue =. imports
ana exports Oh inc oniteu STATES year ny year.
The imports used to be large. the exports COM
narativeIv small or late reara tho ;n,nort line
"e
mas oeeh coming down. the export line going
up. The lines crossed In 1907, with the import
line attn going downward md the line sbowins
W ~ no u sno"ins
the excess OF exports over imports still taking
its upward course and heading almost toward
the zenith. That spoke, he said. louder than
WORDS Inc cehtraiization OF manufacture.
bringing about the use Of improved ma
culinary md Amer;can vortmor rr,ninn
."''eis u A"et'can worhmen running
II. had enabled the InitnI StnfaQ man.