The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-04-26
STOREY ON ANTITRUST LAW.
SENS ATIoNaLIsTs HAVE CREATED
AN uNFoUNDED FuRoRE.
BETTER. lie says-stntistics ON
the Growth OF Trusts.

Austin. Texas, April 24.--The following
is the text of a letter written by Railroad
Commissioner Storey to friend in Lock-
hart anent the antitrust bill;
Austin, Texas. April Any Dear Sir;
The ANTITRUST bill, about which so many
sensational telegrsms have been sent and
SO many paragraphs written, and which
bill is now pending before the Legislature
of Texas, was published in The Houston
Post yesterday. and after a careful read
ing thereof We are amazed at the Juror
that has been raised against II, evidently
by many persons who had never read It
fact is. the sensationalst is to blame. He
Is becoming a great factor in this busy
age. He is even invading the halls OF
legislation, where he has not or ought not
TO have but little influence. He Is pesti-
ferrous nuisance anyway. and 50 far as his
influence In public affairs Is concerned he
Is probably at his best on election day,
where his evils designs can not be dis
covered until IL Is too late TO correct the
evil. He has fruitful Imagination and
is a great deceiver, and in this instance
he has gotten In his work on hundreds Of
good men all over the State and induced
] lUtHl 10 wire lntmDfTH OF tue lPBlblHluTt
TO the effect that the law. If enacted,
would ruin the State.
The constitutional rule requiring bills
to be read on three several days In each
house. and the rule requiring bills TO be
referred to and reported on by commit
tees are fortunate requirements They
give timId and frightened Legislators time
TO get their breath, cool OFF, collect their
wits and to reflect. and often TO hear from
the sober second thought of the people,
which is always right
There is "A well defined suspicion here
abouts that the ensatonalist has been
mustered into the service OF the trusts.
and that he It ls VINO from his head
quarters IN Dallas has touched the wires
and frightened 30 many OF our business
men into the belief that q great outrage
was about to be perpetrated upon the
country by the representatives OF the peo-
pie The cause Of alarm seemed TO be the
threat OF the trusts to pull up stakes, can
eel existing policies already paid for and
leave the State without rofunding the
money received for them am told that
all Are insurance policies have a clause
authorizing the cancellation OF policies
! upon the commission of any act by the
/ policy holder forbidden therein But can
/ any business man be persuaded, even BY
sensationallst that the courts OF this
country would protect even this powerful
] trust 10 the cancellation Of It's contract
! because this grand State had exercised Its
sovereign power 20 enact law which the
FIRE insurance companies We're not willing
10 do business under In this state know
ing as they do that the proposed oct does
not aud could not cancel lawful contracts
already entered into7
II these fire Insurance companies have
really made the threat, and intend &c
carry II out. to cancel all policies anc
leave the state II this legislature dare
10 pass this bill, then the quicker It Il
done the better because. as sure as yol
live. the contest between the people an'
the trusts is coming The battle has Z
be fought, and every day 1t IS postponed
, augments the difficulties and strengthen
the enemy.
The formation OF combines and trust
are Increasing 20 rapidly. and their in
fiuence and scope Of operations are BE-
coming so extensive, laying hold OF an
swallowing up every enterprise and In
dustry in the country. no matter hoV
small, that II presents TO my mind tn
! most alarming condition OF affairs tina
ever existed in this country.
I The New York Journal OF Commerce re
Gently published from advance sheets o
THE Commercial Year Book" complet
, statistics Of trusts in the United State
up 10 the last day of February. Let u
see how they have been increased Her
are the statistics:
: On the last day OF February 4. D, 1926
there were only 200 OF them 10 the Unite
: States. With total capital stock OF $685.,
s SCI .s52 bonded debt safs I2o,O9i, tote
[ stock and bonds SO .662 24l.5is.
Y Now hold your breath while you read 0
the increase In one year.
, On February 20. 1899. there were %