The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-07-27

nlahus the deserved respect of the ma.
ton, Prof. George D. Heron. E. A. T.
WIDE DISTRIBUTION OF CORPORATE
PROPERTY.
one consideration that makes the hand.
ing OF the trust question very dificult r.
pohticians Is the fact that when they hit
At corporations they do not know whom
tney are hitting. For the corporations n,
the country are not owned by merely a few
rich men, but the stock and securities of
the same are widely distributed among the
masses OF the people. For instance. It was
recently shown. by an examination of the
records. that the Pennsylvania Railroad
Company's stock is held by 80. 900 persons
the stock Of the Western Union telegram
Company and its leased lines is distributed
among 13.438 owners: the stockholders Of
the Havemeyer Sugar Trust number -
900; the New York, New Haven & Hart
ford Railroad Company has S,135 stockhold-
ers; the Atchison. Topeka & Santa Fe.
$4,000; the Federal Steel Company 5000
the New York Central Railroad Companv.
lo.OOO-and SO on. There is not corpora
ton OF any standing magnitude whose
STOCK Is not In the hands of some hundreds
or thousands OF persons. and whose bonds
are held by other thousands, and very
largely for the benefit of the estates of
widows and orphans. The people of the
country are widely interested in them, and
any legislation that would impair their
value would meet with a very strong and
widespread protest.
Very many stock and bondholders will he
found among the followers of Mr.. Bryan,
these npOOlQ wi hot
such thing as harmless trust The late
Governor Flower. a lifelong Democrat. ad-
vised young men to get into a trust instead
of wasting their time in kicking against it.
The advice was selfish. but business like.
and is usually followed by all shrewd per-
sons who have the opportunity
The owners of the corporations and trusts
are entitled, like other property owners,
to fair protection of their property The
most that legislation can accomplish, and
all that 1t should aim at, is to preserve
equality of opportunity and prevent unfair
discrimination. To this end antitrust leg
islation should be directed No corporation
or trust. for instance, should receive any
advantage in freight rates over other BUSH
ness concerns. With such discrimination
eliminated, no trust could secure monop-
oily in any line of manufacture or business
Here is the work of legislation cut out for
congress and the state legislatures Let
them address themselves to the task of pre-
venting unfair determinations and the trust
question will settle itself-or at least COM
petition will settle 1t.
The Tribune never falters in it's de-
Tense of capitalists and corporate in
terests. 1t is Republican paper of un-
inc NV To 10
party, may she be always right, but
right or wrong, my party"
1t is immaterial whether the party is
smbalmed beef Eagan, warship syndi-
cate Alger, Cuban franchise grabbber
Hanna, or soulless and spineless Nc
Ainley, the Republican label worn by
hese worthless covers their manifold in
quities, and transforms their sins into /
7irtues. In short, the Tribune would |
Jay, the Republican party can do no
wrong
1t will be instructive to read the arti-
lie on bur front page, 'Perquisites of |
War;" and "The Shameful Record"
md compare the facts there re-
ated with this, the Tribunes
pology for trusts and corpo-
ate interests. Note how the fenn-
ylvania railroad, the Vanderbilts' New
'ork Central road, the Goulds' Western
Inion, the Havemeyers' sugar trust, de-
raud the government and people by
odging their taxes, and then hold your
ides while you read the Tribune's dec
aratiOn that the stocks and bonds of
hese rObber concerns is held Every
argely for the benefit of the estates of
'idows and orphans"
How fortunate the widows and or
hans of this country must be. Aside
ON few milliOnaires the trust stock
nd trust and corporate bonds of this
'untry are held very largely for the
enefit of the estates of widows and or
hans" Such declaration is enough
make us all want to be orphans.
nall wonder that John Lind fastened
declare himself an orphan. Why
oes the Tribune use the expression
1avemeyer sugar trust" if the stock
Id bonds are very largely for the
'nef1t of the estates of widows and Or
lans" Havemeyer must have a null
Jude of widowed and orphaned cousins
Id sisters and aunts We wonder if
ese poor widows and lone orphans c
ally went to Tax Assessor Feitner and .
TOre off hirteen-fOurteenths of their v
rsonal property taxes. We wonder II n
is really the widows and orphans who
We obtained so much class legislation,
en- robber contracts with the govern :
ent We wonder if it is they who
lbe congress, state legislatures, cor
pit courts and juries, and own national
state executives. Perhaps some
phan executive could tell us these =
ings.
The Tribune says Gov. Flower "ad
'ed young men to get into a trust in "
'ad of wasting their time in kicking
ainst it,
what, get in with all these widows
orphans? What advice for a sober -
publican paper to give rnsophisti-
Led young men, and the Tribune saws -
advice was business-like and is =
Tally followed by all shrewd persons ~
o have the opportunity" 81
iod save the mark, what are we COM
TO next, and the Tribune declares all 20