Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1900-09-16

pany Ior It's draugnung department., NJ
cident TO the elaborate drawings ana
specifications for estimating for work, Will
bring about a further reduction. Inc
standardizing of the patterns for farm ana
domestic work. which is now under way
In the Worthington factory, when applied
to the entire business of the new coin-
pany, will result in an estimated saving
Of at least $4,000 per year"
And then follows in black type this siS-
nificant statement:
Advantages of Consolidation.
"a conservative estimate of the advan-
tages derived from consolidation is be-
lfeved to be 81 5000 over the presens
earnings, which would make total OF
earnings based on ten months or Inc
years business of $2.500,000 of per cent
on the preferred stock, and over eleven
per cent on the common stock of the
new company"
1t 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 word is said about giving
the advantages of this reduction to the
consumer. The money taken from the
travelling men, from the hotel Keepers
from the railroads, from the Hverymen.
from the newspapers. and from others
who suffer by the discharge OF travelling
statesmen. clerks. etc, will all be added 10
the profits of the monopoly. The STOCK
was to be watered, and prices maintained
to pay dividends upon fictitious capital.
To give d further guarantee that the
monopoly, the prospectus says that the
principal men connected with the various
the company and would contract not to
engage III a like business for ten years.
But What About the Public:
What guarantee has the public that this
monopoly will not raise prices? is 1t not
human nature to make all the profit pos
sible cut of a monopoly? Is it not reas-
enable to expect that the monopoly, after
eliminating the statesmen, and adding
their salaries, and expenses to the profit
account, will seek a further profit by rails
ing prices, and lowering wages? Is it not
reasonable also to expect that there Will
be deterioration in quality when the spur
of competition no longer compels the man
ufacturer to furnish the best goods for
the lowest possible price?
In a little book described as an IN
vestment Guide" and issued in 1909, by
Henry Clews d Co, bankers, l find list
of large corporations, togther with
brief description of the business done ana
advantages secured by consolidation. In
some instances an estimate is given OF the
the total product in the United States.
Let me call your attention to few of the
corporations organized since the last
Presidential election:
Trusts Formed Under Mckinley.
The American Agricultural Chemical
Company, incorporated under the laws of
Connecticut, in May, 1899, has an author
lied capital of $40 900. CO., half common
stock, and half preferred. 1t acquired
twenty-five of the largest fertilizing con-
Germs in the country.
The American Bicycle Company, incor
porated in May 1889, in New Jersey, with
go, 100000 of common stock and N000O0U
preferred, consolidated forty-four OF the
largest bicycle concerns in the United
States.
The American Hide and Leather Com
pany, Incorporated in New Jersey in May,
1899, with an authorized capital of $751;
a
ferred, controls about seventy-five per
cent of the upper leather output of the
country.
The American Linseed Oil Company, in
corporated in New Jersey in December,
1895, with a capital stock of S33 800, 900,
half common stock and half preferred.
consolidated eleven large linseed oil com
panies, and controls over eighty-flve per
cent of the linseed oil properties in the
United States.
The American Steel Hoop Company, in
corporated in New Jersey in April, 1899,
consolidated nine large
Steel and Iron Companies
in Ohio and Pennsylvania, capital stock
$l9, 0,000 common, and $14, 600, 900 preferred
The American Ship Building Company,
Incorporated in New Jersey In March,
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
with 600, common stock, and $4,000
00Q preferred, controls about eighty per
cent Of the nan and wire product of the
United States.
The American Thread Company, incor-
porated in New Jersey in March 1898, with
a capital stock of 900 half common
and half preferred, consolidated fourteen
large thread companies in New York and
New England.
American Tin Plate Company, incorpor-
gfp1 in NAu JprSaN n har
with $30,0G0,0 COO common Stock and $40 000,
coo preferred, consolidated about ninety
five per cent of the tin plate mills in the
United States.
The American Window Glass Company
incorporated in Pennsylvania. September
1899 with $l3000,000 common stock and s4,-
100000 preferred, consolidated window
glass plants in New York, Pennsylvania.
New Jersey and Indiana, controlling about
eighty-fve per cent of the output of the
United States
American Wooden Company, incorpor-
ated in New Jersey in March, 1899, with
nearly $50, coo common stock and $780,
900, 900 preferred, consolidated a number OF
mills in Rhode Island, Massachusetts and
other places.
The American Writing Paper Company,
incorporated In New Jersey June, 1899,
with SIS 000, 600 capital, half common stock
and half preferred, consolidated numer-
Gus mills, producing over seventy-six per
cent of the output of the United States.
The Continental Tobacco Company. in
corporated In New Jersey in November,
1898, with a capital of 500, 900 900, half COM
man stock and half preferred Acquired
all the leading plug tobacco companies in
the United States, and also purchased the
plug tobacco business of the American
Tobacco Company, in whose interest it
was formed"
Giant Federal Steel Trust.
The Federal Steel Company, incorpor-
ated in New Jersey in September 1898,
with an authorized capital of $500. 900 600
capital, half common stock and half pre-
ferred, consolidated the illinois Steel
Company, the Minnesota Iron Company,
the Duluth x Iron Range Ry., the Elgin,
Joliet & Eastern Ry., and several other
companies. 1t owns five docks on the
great lakes, and a majority of the steam
ers and barges used for transporting
ores.
The International Paper Company, in
corporated in January, 1898, (State not
given with an authorized capital of S2O,-
100000 common and S25.0000O0 preferred
stock consolidated twenty-five pulp and
paper mills, manufacturing about eighty
per cent newspaper.
The National Biscuit Company. incor-
porated in New Jersey in February. 1895.
with s20,0o0000 common stock and So. 000.-
coo preferred, consolidated the leading
cracker companies, and controls in all one
hundred ana sixteen plants.
The National Salt Company, incorpor-
ated in New Jersey in March, 1899, with
$1,000 600 of common stock authorized and
IS. 0C0 600 preferred. produces about ninety-
five per cent of the total output of the
The National Tube Company. incorpor-
ated IN New Jersey in June. 1899. has a
capital stock of $S0.000,00o, half common
and half preferred. and controls