The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-08-06

and capital represented by the COM
bination between Messrs. Whitney,
Widener and Elkins is a new develop
ment of the trust idea in this land of
trusts. Heretofore the holders of vast
forces of capital have worked together
for the carrying out of some single en-
terprise perhaps. But for the most
part they have worked each for him
self or one against another. These men
! have seen the mutual and individual
! advantages of working together all the
time. They are the pioneers of what
Will prove to be, perhaps, the last and
| greatest of all trusts-the trust of mil
| lionaires.
This combination Of interests is I'M
doubtedly a good thing for the men
concerned. Their fortunes, in each
case rated by the tens of millions. bear
eloquent testimony to that fact. Is it a
! good thing for the public? Opinions
differ on this point, but Mr.. Widenef,
who has been the most active of the
three in building up the combination,
/ does not hesitate to say that ii is. In
/ his Philadelphia office a few days ago
! he said to the writer in the course of
an interview:
THE extension and improvement of
street railway lines made possible by
the Capitalization of management and
control. has invariably resulted in
greater benefit to the public than to the
owners of the lines. The combination
of the street lines in any city usually
makes it possible to extend the system
into outlying districts where car line
is "A great convenience to the residents,
but where il would hardly be profitable
10 operate an Independent line. 1t pro-
vides in most cases a longer haul for
4 single fare.
ION the Philadelphia, Chicago and
New York lines today passengers are
carried distances at which there is pos
itively no profit TO the companies But
the loss in. this particular is counter
balanced by the profits from short
haulS.
Worth Hundreds of Millions.
an all the cases of street railway
consolidation with which am famiI!ar
the combination has resulted in the IN
PRODUCTION of improvements and IN
more rapid transit. In Phlladelphla
the change from the old system of trac-
>tion TO the trolley, early brought about
bv the consolidation of separate lines.
has been worth hundreds of millions to
the city.
I'm nay opinion. all successful combi-
nations of capital are beneficial TO the
public. Combinations do not raise
prices. If they attempt to do so they
invite competition and are certain to be
unsuccessful.
The old order of things is changing
Business is no longer matter of COM
petition between individuals. 1t is
competition between nations. By the
combination of capital in business we
will master the trade of the world.
Combinations in the great indus
tries have brought about the present
widespread prosperity in this country
Combinations will cause this prosperity
IN no nermanent. England has passed
through the same experience, has heard
the same cutlery that is now being
raised in this country against trusts. All
the great business undertakings over
there are carried on by combinations
now.
Combinations Help Workingmen-
The cutlery that is being raised by
demagogues. penny politicians and sem
sational newspapers against combina-
tions of capital will not mislead the
thinking people of this country, whether
they are workmen or the employers of
workmen.. 1t might have misled them
in a time of financial panic and lack of