The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-06
STREET RAILWAY
KINGS
THREE MEN CONTROL NEARLY 1000
MILES OF CITY LINES.

| The Great Combination Headed by
whitney, Widener aud EIkius'
One-Seventh of the American Pub
lie Pay Tribute to the systems
Under Their Direction, and They
Employ 25.CG0 Workmen-They
Control Vast Holdings i'm other
Municipal Enterprises, and Repre-
sent Half a Billion of Corporate
WenIth-Mr. Widener Says That
Great Public Advantages Have
Come From Combinations of Capt.
tai.
Copyright, 1899. by the AuthOr)
New York, Aug. 4.-Three men in this
| country control over 500 miles of street
railways, on which $4,000 men are employ
al and 1000 cars operated.
They may justly be called the street raj
way kings Of America, for they control
the transportation facilities of The three
largest cities in the country-New York
Chicago and Phnadelphia-be Pits
burg, Baltimore, half dozen smaller mu-
inequalities and hundreds of square miles
Of suburban territory.
They are William c. Whitney of New
York Peter A. b. Widener of Philade. phia
and William L. Elkins of Philadelphia.
The mileage Of the systems under their
direction would make a trunk line from
Boston to Denver, but it is many times
as valuable as any trunk line in the coun-
Try.
The three men mentioned do not own
these lines. Their ownership is divided
among thousands of stockholders in all
parts of the country But Whitney, Wild
ener and Elkins direct them as absolutely
as though they were the sole owners.
Nor does this represent the extent Of
their financial power and their industrial
enterprises. They control, to a large ex-
tent, the gas supply of Philadelphia, Chi
cago New York and Pittsburg. They are
the masters of the electric light power
ana transportation facilities in these and
other cities.
They represent. roughly speaking half
a billion of invested capital, possibly the
greatest aggregation Of corporate wealth
this country has ever seen so centralized.
They have made vast fortunes for them
selves and for the men behind them from
the control of municipal franchises. They
have developed a new occupation, one that
provides another avenue to multi-miliOn-
airedom-that of the municipal corpora
zionist
4 Trust of MiIIiOnnires.
More than this, the union Of brains and
capital represented by The combination be-
tween Messrs, Whitney, Widener and Ell
kius is a new development of the trust
idea in this land of trusts. Heretofore the
holders of vast forces of capital have
worked together for The carrying OUT rf
sin oil
the most part they have worked, each for
himself or one against another, These
men have seen the mutual and individual
advantages of working together ali the
time. They are the pioneer of what will
prove TO be, perhaps, the last and greatest
of all trusts-the trust of millionaires.
This combination of interests is Un-
doubtedly a good thing for the men con-
Cerned. Their fortunes, in each case, rated
by the teUs of millions, bear eloquent teSti-
mony to chat fact. Is il a good thing for
the public? Opinions differ on this point,
bur Mr. Widener. who has been The most
active of the three in building up the COM
binatjon, does not hesitate to say that il is.
In his Philadelphia office, a few days ago,
he said 10 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
tines The combination of the street lines
in any city usually makes il possible 10
extend the system into outlying districts
where a car line is a great convenience
to the residents, but where ii would hard
ly be profitable to operate an independent
lire. 1t provides in most cases a longer
haul for a single fare.
ION the Philadelphia, Caicago and New
i. vgVv aprfa.
distances al which there is positively no
profit to the companies. But the loss in
this particular is counterbalanced by the
profits from short hauls
worth Hundreds of Millions.
an all the cases of street railway con-
solidation with which l am familiar the
combination has resulted in the introduce
lion of improvements and in more rapid
transit In Philadelphia the change from
the old system of traction 10 the trolley
early brought about by the consolidation
of separate lines. has been worth hundreds
of millions to the city.
IN my opinion. all successful combina-
lions Of capital are beneficial to the public
| Combinations do not raise prices. If they
| attempt to do so they invite competition
and are sure to be unsuccessful.
The old order oil things is changing
! Business is no longer a matter of compe.
! ttion between nations. BY the combina
! ton of capital in business we will master
! the trade of the world.
Com Diuations in the great industries
| have brought about the present wide
! spread prosperity in this country. Com
/ binatons will cause this prosperity to be
permanent. England has passed through
| the same experience has heard the sam,
| outcry that is now being raised in this
| country against trusts. All the great bus
! mess undertakings over there are carried
! on by combinations now.
Combinations Help Workmen.
"The outcry that is being raised by
| demagogues, penny politicians and sensa-
| tional newspapers against combinations
| of capital will misead the thinking people
! Of this country whether they are work.
men or the employees OF workmen. II
might have mislcd them in a time of hnan.
! cial panic and lack of work, but they will
not be deceived In light Of the prosperity
! which these very combinations are caus.
ing. You can fool men with empty stom.
achs, but you can't fool them when theii
] q. afag