The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-23

/ last two years than in any corresponding
period preceding While there is little
/ talk of trusts or OF combinations there is
! a great deal Of talk also OF the abuses OF
/ the corporation law, and there is at pres
ent before the House of Commons Gov
eminent bill amending the corporation act
I OF 1852 so as to prevent these abuses.
/ The remedies suggested in England agree
/ in good part with the remedies suggested
| by the Industrial Commission of the United
States, though in some lines they do not
go so far.
In England publicity is regarded as the
real remedy for the abuses of Industrial
combinations. and many influential men
there think the Government can go no
/ further than to secure publicity. The
causes for the formation of a combination
in England seem to be substantially the
same as in the United States. In the first
place they all speak of competition as being
so severe that they were all losing money
( until the combination was entered into In
several instances the capitalists say that
a combination would give them far greater
strength in their contest with their work.
ingmen. 1t is expected that a combination
would be the source of saving in a good
many particulars. In some instances the
services of large numbers of travelling men
have been dispensed with and the cost of
superintendent has been lessened In
cases in which an industry has been hand
ed down for several generations and the
management has been careless it has been
found that large numbers of workinemea
could be dispensed with. This seems to be
something which is rarely found in the
United States, but is quite common in Eng
land, owing to sons succeeding their ia
theirs in the same line of business The
work could in a great many cases be better
distributed among different plants. so as
to effect a saving. In the combina lions
which have been investigated little has
been said about the saving in freight in
virtue of the fact that shipments can be
made from the nearest plant. Freight dis
elimination in the interest Of the largest
shippers are not complained Of generally
Some of these combinations have prac-
teal monopoly. Others have from so to 90
per cent of the entire output"
The movement for the formation OF
trusts in Austria has been accelerated Of
late years, until at the present time
nearly all of the important industries
are working under some form OF agree
ment more or less definite. In many cases
these agreements have led TO an increase
in prices, although it has not been enough
to enable The members of the pool 10
realize enormous profits. The agreements
have usually been made as the result OF
very great competition, which had been
carried on to Il ruinoGs extent. The re-
suit of the combinations has been that fair
profits have been realized. There has
been considerable feeling against the com
binations because they have raised prices
In Austria the courts have held that
these Industrial combinations are Illegal.
the law of 1870 providing that conbina-
lions for the purpose OF increasing prices
to the detriment of the public are Illegal
The courts refuse absolutely to enforce
the contracts among the members of the
combinations on the ground that the con-
tracts themselves have tended to increase
prices TO the detriment of the public
These decisions have been regarded as |
severe check to industrial combinations
in Austria, and other forms OF comhina- |
lions are under consideration thGre In
some few instances they havc followed |
the example of similar combinations in
the United States. have organized as cor
porations. and have bought IN the sep
arate plants, thus forming a single cor |
poration. Prominent business men in
Austria do not think the corporations that
have formed pools will go into the form |
of corporations, as such concerns have