The Globe-republican., 1900-09-13
They Have Never Succeeded in Creating Monop-
oily Because There Never Can Be Monopoly
of Brans-Competition Always Open
WHEN THEY GET GREEDY THEY BREAK THEIR OWN BACKS
They Business Large Scale They Are Able
to Cheaper and to Sell Cheaper All Consum-
ers-No Trust Can Hold Monopoly.

There was peace. There were economies
that could be effected and that he was
a fool not to effect. There a chance
to steady things aEd know whether he
had anything in the world or not Pos
sibly there was chance fo- profits again
This was the chance for the promoter
and the underwriting banker. what
ever you choose TO call him. we'll
for the manufacturer Ii the manufac-
turer hadn't been in the condition de-
scribed. the promoter end the banker
couldnt have done anything with him
or for him. Tt required cash money,
its equivalent, in guarantees, to buy,
partly buy, plant here and another
plant there This the underwater could
furnish. It required the promoter 60 see
about it ALL But the promoters employ
ment didn't last long. Where IS the pro-
moter now, by the way, and where il
the underwriting banker?
Things have been going SO well in the
last two or three years that the manu-
facturer, the man who used to want to
combine, doesn't want to combine any
longer He isn't tired, he has plenty of
capital, his machinery is buzzing. be In
selling twice much stuff before,
probab bly, just much abroad as at home
There is a chance for NIL. Competition
is active, but buyers are not haGgling
about the price quite SO much. or at least
they have got some money with which to
buy something once in while.
This isn't saying that trusts are not
now forming, and that many more OF
them, a great many more, will not be
formed. They are forming, and they will
be formed; but they will only be organic
ed successfully where there is some econ
! omic reason, sQnle reason in GOOD bust
ness economy and Judgment, why two,
or twenty, two hundred concerns
lop off the dead stuff and gSt there in.
true business style, whether ten meR or
a thousand men are required to do 3Srr
whether hundred thousand dollars or q
million dollars are required to do some
thing in this, that the other part of
the world, or III any old part of the world.
Now without going into definitions too
much--especially since are agreed
what trust really is--let me say that a
trust in the right acceptance of the word,
is not monopoly. It can't be. if it
YES, thousand to one, it knows better
than to try. The Standard Oil Com
pany is not a monopoly, and III wager,
if the truth were known, that it makes
money by its methods just much as
it does by the volume of its business.
Judge Gary of the Federal Steel Com
pany-a little two hundred million dollar
corpora ton which doesn't monopolize
the steel business a i notice, and proba-
bly, never will while. Andrew Carnegie
and a few other good scrappers are in the
held-says that well-organized and
well managed trust is all right up to the
point where it tries to monopolize it's pro-
duct There it over-reaches itself, it
gets into danger, 1t invites competition,
and this, mind you, is the competition OF
giants and not of piginies.
Mr. F. Q. Mathiessen, once the chair
man of the manufacturing committee of
the sugar trust land / don't know of a
higher authority that could be cited), saws
that the Glucose Trust, which, / believe,
he organized and is at the head of is in
the field for only about seven per cent
for its stockholders; that it would be
folly for them to try to squeeze more
out of the consumer for their investing
capitalists: that plenty of money and
plenty of brains tfor brains and money
are two commodities that nobody in the
world can corner in thousand years)
could go right into the field against them
and level them down to the seven per
cent basis quickly Brother Bryan
can turn a political handspring The
Glucose Trust, you understand might
not hesitate to squeeze eight or a ten
per cent dividend out of the consumer if
it thought 1t could succeed in doing So
It can't succeed, and it knows it,
A DRUMMER
fTo be continued.)