Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-11-13

II
IN all the combination possessed all
Of the six essentials OF the cheapest
and most successful manufacture;
namely. cheap wood, cheap and ample
water power, cheap rates to Market
modern machinery, wholesale produc-
lion and concentration at one place
7nder one supervision.
One plant, which could not make
newspaper on number ct its machines,
was unloaded upon the trust at a val
nation of $4,000 per ton of daily out
mt. whereas the most intelligent and
,est authority agree that plants equip
bed with modern machinery, capable oil
producing paper under the most eco
nomical and most satisfactory condi-
lions. can be installed at less than
$4,000 per ton of daily output.
For a mill that made not one per
cent. of profit in 1871 mill which
has no water power, no sulphite at
tachment, and which carted it's pulp
two miles-an appraisement of S570,O00
was put upon it in its merge into the
trust.
can allowance of nearly $8,000,000
was made for mill, one half of which
might better be located upon Boston
Common or in New York City. Five
years ago the stock capital OF that con-
,ern had been 100000
"The organizers of the trust frankly
admitted at the outset that its common
stock represented only good will, yet
a. quarterly dividend of one per cent.
on the common stock was declared
in November, payable December 81,
1898. This common stock is now (Jan-
uary, 1S99) selling on Wall street at
60. A circular issued by Hatch &
Foote on July Is, 1898, and based upon
information furnished by officers OF
the International Paper Company,
showed that it was making a profit OF
$40 per ton upon its output. The same
authority states that the trust handles
I43, 500 horse power; that is owns 45O,-
900 acres of spruce land in New York,
New Hampshire, Vermont, Maine and
Michigan, and holds government
licenses for ], 1872, 900 acres in Canada.
"The entire output of this corpora
ton, representing 1920 tons per day
for theoretical capacity, could be re-
produced by a present investment OF
y15,000,000, so that the American con-
sumers of newspapers are forced to pay
dividends upon an inflated and wholly
fictitious valuation of at least 100000
900.
A MONOPOLY OF SPRUCE WOOD
LAND AND WATER POWER.
'This combination of twentyfour
mills, while embracing many inferior
and worthless mills, also included prac-
tically all of the locations in the United
States where cheap and ample water
power, cheap and good spruce wood
and cheap rates to market can be OBJ
tanned for a mill of 100 tons daily
capacity. The present consumption of
pulp wood by the pulp and paper mills
of the United States, including manila,
book and writing, is stated, upon
authority Of the Paper Maker, a paper
trade journal, at 100000 cords per an
mum, which consumption requires the
entire stripping of pulp timber on 625
square miles per annum."
At the annual meeting, on August
%, 1899, the president of the trust
stated in his report that the mills ac-
quired since the trust was formed
brought the number of plants owned
up to thirty, and that the finest pulp
mill in the world had been built at
Milton, Vermont. He said that the
company owns in fee and by lease
wood land in Maine, New Hampshire,
Vermont and New York 100000 acres
more than 1000 square miles of tim
Der limits in Canada. He said that ''in
addition to the water powers which
operate the mills the company has ac-
CURED as basis for future develop
nent water powers capable of develop
ing 100000 horse power" He also
stated that his company had establish
ed agencies in England, South Amer
lea, Japan and Australia in addition to
its agencies in eight of our principal
cities.
1t thus appears that the trust con-
trolls the most available sources of sup