The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-06-26
TRUSTS AND COMBINES.
A Conference Looking for legislation for
Their Control win Be Held.
MANY PROMINENT MEN WILL ATTEND
10 BE Held In Chicago Under the
Auspices of the Civic Fed
Grafton.

Chicago June 25.-Secretary Easley OF
the civic federation of Chicago, under
whose auspices conference will be held
In Chicago september 13 to 16, to consider
the trusts and combines and legislation
for their control, has received hundreds
Ct letters from prominent men all over
the country accepting invitations to be
present at the meeting.
Among those who have slgnified their
intention of attending the conference in
person or who will be represented are:
Governors Pingree of Michigan, Roose-
welt Of New York, Stanley of Kansas,
sayers of Texas, Mount of Indiana, San
cher of North Dakota, Thomas of Colo
RADIO. Tanner of Illinois, McLaurin Of
Mississippi, Mcmillan OF Tennessee, Point
er Of Nebraska and Lee Of South Dakota;
John b. Clark, professor of political econ
omy, Columbia university, New York; j.
B. jerks, professor Of political economy.
Cornell. and expert In trusts and combina-
items for the industrial commission; p.
Il. Dow, president Commercial Travellers
National league; Francis b. Thurber,
president National Exporters associa-
ton; Max Adler, president of the Board
pf Trade, New Haven; Henry Adams.
statlstician interstate commerce commits
sion; members of the insterstate commerce
commissions; members of the Industrial
commission; Willis Young, president OF
| the Northwestern Travelling Mems asso-
citation; Attorney Generals Davis OF New
York, Hicks of Wisconsin, Monnett of
Ohio: Douglass of Minnesota, Davis OF
| Arkansas, Bllinger of South Carolina,
| Bishop of Utah, Taylor of Indiana and
Goddard Of Kansas Commissioner of La
Dor Thomas F. Rixey of Missouri; George
| Preston, secretary and treasurer Interna-
| tional Society OF Maehinists; Ex-Governor
| Hoard Of Wisconsin, president Farmers
| National Congress; Richard I. Ekly, pro-
fessor Of political economy, university of
! Wisconsin, and John P. Jones, commits
sioner of labor statistics.
In acknowledging the receipt of an in
vitation to attend, eX-Secretary of Agri-
culture Sterling Morton, Of Nebraska,
says TRUSTS which are over capitalized
are born of the Vaccinations of shallow
and impractical men. They will fail and
no one be harmed except those whose
credulity led them to invest their securi-
ties.
There is much Misrepresentation incor-
pcrated in capital in the United States.
Oratorical vagarists have endeavored to
make common people believe that incor-
poratiops are not subject to economic laws
of competition and that the relation of
supply to demand is not the sole regulator
OF values The fact however remains that
money invested in manufactures or in
railways belonging to corporations is nc
/ stronger. no better and in no way ex-
empt from the commercial laws than mon :
ey which is owned by individuals. There
need be In my judgment, no apprehension
as to the trusts crushing out all competi-
tion. With the exception of the oil trust
and the sugar trust failure among trusts
has been universal. The whisky trust,
the tobacco trust and all the other trusts
Iet importance up to date, except those
that have been formed very recently have
bter complete failures, Those failures
nave come first rom ever capitalization
and secondly from .nismanagement. In
telligent competition can enter the field
against any trust on earth except ono
which has natural monopoly, by this
mean the one which like the STANDARD
OH Co., owns the oil producing lands of
the country and successfully put its pro-
ducts upon the market with the sympathy
Of tie consun or all on its side BY this
| mean that outside Of the trusts, copart-
nershlps ana stock companies may be
formed with capital. energy and ability IA
successfully take the market against any
ana all trust products except those which
are the result of a natural monopoly.
What can be accomplished by legisla-
ton or regulatory laws l cannot see nor
DO look TO such enactments for remedy
OF any evils that may grow out of trusts
) OF course 1t is fashionable, 1t is epidemic
TO denounee all large aggreeations of
capital as trusts This mania will ex-
naust itself and the country will find that
those who have been damaged by trusts
are those who bought their securities fol
more than they were WORTH
Dr. Lyman Abbott, of New York saws:
think what we most need upon the sub
yecl OIL INDUSTRIAL, comm ercal, labor and
transportation combinations is lust ThaI
your letter indicates this meeting will
ehdtaHor to secure, light not heat What
we heed to understand and what only ex.
peHehce can teach us, is the relation Re.
tween competition and combine. the on,
me centrifugal, the other the CENTRIFUGAL
force OF society. He who believes only il
combine will logically be led to socialism
ne VINO believes only in competition will
.usleSIly DC led to nihilism. Neither OF
these results can possibly furnish the solu-
ton OF the problems which now confront
u.s. We must learn how to secure the ad.
Vantages of combination without destroy.
ing the individual to maintain brotherhood
Ia practical forms without sinking. oh
securing or belittling personality"
hundreds Of other letters have been
received, the writers in nearly every Ease
expressing sympathy with the purposes
of the conference.
T. s. Smith attorney general Of Texas
says: "our legislature is now in session
and at the present time has under con.
sheraton an antitrust law, and ar
sure VIII pass very strong one. / am
not sure than my official duties will per.
INIT my absence to participate in your con.
ference but 1t would afford me pleasure
ana, ! am sure, profit to be with You"
sas, says: Il am Thoroughly of the nnin.
ion that unless State legislation throttje,
ana stamps out these monster evils. IN,
very pasie principles upon which our gov.
destroyed" ''''NsH ai''