Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-01-18
PAPER ON TRUSTS.
Read Before brotherhood OF An
drew and Philip.
PRESENTED BY CAPT, HUTCHINSON,
An Interesting Compilation Of Facts
and Statistics Concernlpg s'Trusts :
and Their Promoters,'-Regu.
lar Meeting of brotherhood.

lar Meeting of Brotherhood.
from Tuesdays Daily. 81
The regular monthly meeting OF the
Brotherhood of Andrew and Philip
was held at the home of Captain and
2 Mrs. S. B. Evans, 419 Center avenue,
last evening. There was a large at
tendance of members and friends of
the society, aud the first session of the
new yearNS pSHSsd d sssHery enjoyable
event. SA6%eSeslle ii II I'd dress was de-
liveredby Capt Hutchison, on
the subject OF Trusts and Their Pro-
moters," which was followed by gen
cral discussion OF this important topic.
Refreshments were served by Mrs. Ev-
ans and her dadg Misses Lucy,
Bertha and Eaith,,NN assisted by Mrs. f.
w. Hinitt.
The meeting last evening was called
to order by DR.. f.. w. Hinitt, who pre-
sided in the absence of both the presi-
dent, A. w. Buchanan, and vice presi-
dent, w. a. Fetzer. r. Fl. Warden in
Z voked the Divine blessing, after which
DIR. Hinitt presented Captain Hutchi-
son.
Capt. Hntchison's Address.
The paper. presented by Captain
Hutchinson last evening is one to which
he has devoted a great deal of time and
study and is, perhaps, one of the most
exhaustive compilations of facts and
data ever presented to an Ottumwa
audience on the trust question. 1t is
quite lengthy and comprises valuable
80 sa&s la I IL
commercial journals and publications,
such as the Journal of Commerce and
Commercial Bulletin of New York, the
American Review of Reviews, some of
the decisions of the courts and the
report OF the recent conference on the
trusts in Chicago,
It deals with the problem as viewed
from every standpoint, and contains
many valuable sug questions for RENE
dies, first showing the evil results that
further existence of trusts. It is Mr..
Hutchison's intention to have the pa
per printed in pamphlet form for dis
tribution. It was well received by the
brotherhood last eveping, and at the
extended a2tvote of thanks by the So
CAcCy.f Inc lolloWlhS 10 d ~ hoPsls VI
the paper, with frequent quotations
from theysame:
In undertaking to write on the sub
ject Of Z usts and Their Promoters,
permit me say that it is an exhaust
i've subject said Mr., Hutchison. He
then stated that he had not permitted
employed, to enter the discussion, and
Saiy
terprises which must have control OF
enormous capital, such as railroad cor
porations, etc.
Defining Trusts.
In order to give clear understand
ing OF the meaning of trusts, Captain
Hutchinson quoted the following from
a decision of the supreme court of IL
linois, of October IS, 1899:
As these trusts were first formed
in 1882, they usually appeared in the
3 form of an agreement between stock
holders in many corporations, to place
all their stock in the hands of trust
zee. Within the past three or four years
the trust has adopted a new system
of organizing, and that is where ma
jority of stockholders consolidate their
interests by conveying all their prop.
erty to a corporation organized for the
purpose OF taking their property. Any
combination OF competing corpora.
tons, for the purpose of con.
trolling prices, or eliminating
production, or suppressing competition
is contrary to public policy, and is
void. 1t makes no difference by which
of the above plans the combination j.
/ formed, it is illegal and void. The tes
is, whether the necessary consequence
of the combination is the controlling
of prices, or limiting of production, OF
suppressing of competition, or monop
olizing the greater part of all the bust
ness in, a, certain line of industry il
such a way as thereby to create a mo
nopoly. When corporations, thus sit
uated, unite, together all their prop
critics in one new organization ant
permit the latter to operate their prop
critics, competition would be suppress
ed, and the neWe epHporation will pos
sess the power to limit production ant
control prices at its pleasure. All Q
the competing corporations have beef
put out of business by disposing of the
plants with which they conducted
their business: The grantee of sail
corporation hasnno competitor in thu
market tITi makes no difference tina
the agreements for the illegal combina
ton is not formal written agree
ment. It may be a verbal agreement
or understanding, or a scheme not EN-
bodied in writing. but evidenced b.
the action of the parties
Modern Business Situation.
OF this particular phase of the sub
ject Capt. Hutchinson said: "Our coun
try has made such wonderful strides il
Z material developments; such might.
centers of commerce have grown up
individual wealth has become so gener
al and SO well distributed; railway
y have been built at an outlay of mil
E lions of dollars to span a con
tinent in every direction; on
population has reached such larg
number and cur interests have becom
SO diversified that necessarily the ag