The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-09-27
GOOD AND Evil COMBINATIONS.

The combination OF capital 10 effect any
purpose has received the name trust. BY
such an Interpretation all corporations are
made to mean tHlsts. The combination of
| capital as all reasonable persons must
| country. But for the combination of cap
ital Indiana would not now have rail-
| road or large factory. The combinations
are effected by corporations which are
| authorized by the State. Now, all such
| combinations of capital are most desir-
nopolies. The vast iron producing interests
| of the country, which are controlled by
| corporations capitalized for many millions
of dollars. are in no sense a monopoly.
| The Federal Steel Company owns a con-
siderable number of plants. but it cannot
make prices or interfere with trade because
! other larger corporations are rivals. There
| is combination of wooden manufactures.
| controlling more than hundred factories.
but 1t cannot control the price OF woolens
because large number of the largest and
| best factories refused to join the combina-
price of WOODEN goods. A few months ago
a combination of factories making wire
and wire nails controlled the output in
| the country. Within the last three months
| independent manufacturers appeared in the
market as competitors, so that the COM
| bination Is no longer a monopoly.
There are other combinations that seem
| to be monopolies. The American Sugar Re-
| filming Company is one of these. In 1857.
while Mr.. Cleveland was President, be-
cause competition had made the refining
| of sugar profitless. the owners of most of
the refneries formed company which put
| all of the refineries except a half dozen
| Under one corporation. Most of the pur-
| chased factories were dismantled. and only
| the largest and most favorably located for
the business were kept running This COM
pany started out to monopolize the sugar
| production of the country. The skillful
managers sought to control all the jobbers
in order to control the price and the out
put Every jobber came under obligation
| 10 sell no other sugar than that refined by
| the American Sugar Refining Company.
| If a jobber violated this pledge no more
| sugar would be sold TO him. He would
| be out of the sugar business. The COM
pany required all its customers not to sell
under a price made by the company. and
no jobber can sell to a retailer who has
| purchased other sugar than that of the
American Company. For years the Amer
l
| 70 to IS per cent. of the sugar trade of the
country. OF late independent refiners have
broken into the market and compelled a
| fall in prices, but the sugar monopoly
stands firmly
| A more harmful trust is that like the
| Standard Oil Company. 1t has control of
most of the output of refined oils for do
nestle purposes, and controls the prices.
1t can put UP or down the price of oils.
| Its policy is the same as that of the Sugar
| Refining Company, but it goes farther.
| If small oil producing company has some
trade in a given locality. the Standard
sends its agent thither to undersell the
| rival until he quits, when prices are re-
| stored. This is the most odious method of
| establishing a monopoly. The corporation
| or individual who seeks TO drive another
| out Of business by selling so below cost
as to ruin him can have no better defense
| than he could If he had caused the man
| whom he would ruin to be burned out. He
is bent on the destruction of his competi-
| tor.
| These are the combinations designed 10
1 create monopolies. They propose to drive
| out all competitors to the end that they
| can make prices. All such combinations
| are not only in restraint of trade, but
| they are created TO destroy others. The
| remedy for all such combinations is for
/ State Legislatures 10 devise