The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1900-09-28

nesses OF such companies. or by the own
ership OF not less than two-thirds of their
stock. as may be found practicable"
Then follow the names OF Ave pump COM
panics. accompanied by the statement
that these companies are estimated to
transact ninety per cent OF the steam
pump business OF the United States ex-
elusive OF high-duty engines. The ma
Jority OF the companies also manufacture
such engines.
sample Case Of Trusts.
One OF the companies. taken into the
combination had assets estimated at
little more than six million dollars. an
other company had assets estimated al
little more than three Millions the third
company had assets estimated at "A little
more than one million. The fourth COM
psny had assets estimated at eight hum
dred thousand dollars. and the NTH COM
pany had assets estimated at seven hun
dred thousand dollars. The good viii was
not estimated In the above figures. The
total assets, therefore OF the Ave COM
panies, not including the good will, were
less than twelve million dollars and the
prospectus states that the combined net
profits OF the five concerns for the year
1888 estimated on the business of ten
months OF the year. would amount TO
twelve hundred thousand dollars. Under
the head OF Estimated additional earn
ings from consolidation" i find the fol-
lowing:
Each Of the FIVE compa MES now main
tains agencies in the principal cities OF
the United States. Tho Worthington and
Blake companies have stores. and carry
stock in London. Hamburg Vienna. ana
other cities Some Of them have expen-
sivo salaried managers. All these agen-
cies In this and other countries Will be
consolidated. The stores and agencies
maintained in the cities OF this country
and the forces OF clerks sarsmen etc
necessary to conduct them will be united
and decreased. involving an estimated
saving OF at least 100000 a year. The
expenses OF each company for it's draught-
ing department, incident to the elaborate
drawings and specifications for estimat-
Ing OF work. Will bring about further
reduction. The standardizing OF the pat
terms for farm and domestic work. which
| is now under way In the Worthngton fac
| tory. when applied TO the entire business
! or the new company, will result In an
estimated saving OF at least 500. 0oo per
! year"
And then follows In black type this sig
nfcant statement:
Advantages OF Consolidation.
| "A conservative estimate of the ad-
| vantages derived from consolida ton Is
believed to be 600 over the present
earnings. which would make a total OF
future net earnings. with the estimated
years business Of s25o0.0oo. of per cent
on the preferred stock. and over eleven
per cent on the common stock OF the
new company"
IL will thus be seen from the prospectus
that the advantages secured by the cut
ting down OF expenses, Will double the In
come. and not a word Is said about Civ
ing the advantages of this reduction TO
the consumer The money taken from
the travelling men. from the hotel keep
ers from the railroads, from the livery
men. from the newspapers, and from
others who suffer by the discharge OF
! travelling statesmen. clerks, etc, Will all
be added to the profits OF the monopoly.
| The stock was to be watered. and prices
maintained to pay dividends upon fcu-
tious capital.
| To give further guarantee that the
| monopoly the prospectus says that the
| principal men connected with the various
companies would become identified with
the company and would contract not to
engage In a like business for ten years
But what about the public? What guar
antee has the public that this monopoly
will not raise prices? Is II not human
nature TO make all the profit possible out
of monopoly? Is II not reasonable to
expect that the monopoly. after elmin-
ating the statesmen. and adding their SAL
aries. and expenses TO the profit account,
will seek further profit by raising prices.
and lowering wages? Is II not reason
able also to expect that there will be de-
terioration In quality when the spur OF
competition no longer compels the manu-
facturer to furnish the best goods for the
| lowest possible price?
In little book described as an In
vestment Guide" and issued In 1900. by
Henry Clews 4 Co.. bankers. find a list
/ OF large corporations. together with a
! brief description Of the business done and
advantages secured by consolidation. In
some instances an estimate Is given OF the
| output OF the company as compared with
the total product in the United States.
Let me call your attention to a few OF the
| corporations organized since the last
| Presidential elections:
Trusts Formed Under Mckinley.
The American Agricultural Chemical
| Company Incorporated under the laws or
| Connecticut, in May. 1899. has an author
lied capital OF s4o.00o0o0. half common
stock. and half preferred. II acquired
| twenty-five OF the largest fertiizing con-
Germs in the country.
The American Bicycle Company. incor-
! pora ted In May 1929. in New Jersey. with
$50, 900 OF common stock and slo,Wc,oo
preferred. consolidated forty-four OF the
largest bicycle concerns In the United
| States.
The American Hide and Leather Com
| nay, Incorporated In New Jersey in May.
1892 with an authorized capital OF Vs.
100000 hals common stock and hair pre-
fcrred controls about seveny-hve per cent
OF the upper leather output Of the coun-
try.
The American Linseed oil Company in
corporated IN New Jersey In December.
! 1885, with a capital stock OF S3S,JOO,ooo.
half common stock and half preferred.
consolidated eleven large lnseed oil com
panIes, and controls over eighty-ive per
cent OF the linseed oil properties In the
United States.
The American Steel Hoop Company, In
corporated in New Jersey In April, 1873.
consolidated nine large steel and iron
companies I'm Ohio and Pennsylvania,
capital stock $1,000. 900 common. and N4.-
COO 700 preferred.
The American Ship Building Company.
Incorporated In New Jersey In March.
1899 with an authorized capital OF $780,
100000. half common stock. and half pre-
ferred, consolidated 'all ship building.
and kindred interests on the great lakes
American Steel and Wire Company. In
corporated in New Jersey in January, 1893.
with s50oo0.000. common stock. and $io.-
Ooo. 900 preferred. controls about eighty per
cent OF the nail and wire product OF the
United States.
Tho American Thread Company incor-