Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1900-10-04

If u s,ri.e tccUgs iR 4 factory in one
state, the factory oai, be closed down
indef nileiy While Tic employees are
starved into submission. and, as the
trTgt can do the work in some other
factory without serious ioss, II Is quite
independent Of the employees, and can
nj solutoly prescribe the terms and
conditions upon which they shall live.
The more complete the monopoly the
more opposed the managers VIII Ie to
arbitration because, IN ease of any CON
test between the trust and It's en-
ployes. The trust VIII have every adj
vantage and the employees wiz be per-
fectly p0Wcrless.
Another advantage cited by Mr.
Flint Is that "There Is no multiplIca-
ton Of the means OF distribution and
be;icf force OF statesmen VIII take
the place Of n large number
Drummers Dispensed with.
This Is au intmation that under the
trust system the travelling salesman
will not ia seeded. When every retail
merchant must buy all goods Of one
cln from d single company, the
WORK ga De done by samples. and no
tra e'e nen viii be needed. There
viii sr competition between differ
emf fri Eos becansc al are ander one
mdtagre scent. The first man to feel
this will BE- tie salesman, who viii
LOSE his occupation. The ncxt man
to feel Il win be- the hotel maa, who
VII miss the trade Of the travelling
salesman. The railroad viii lose the
mileage paid by the travelling man:
the iteryuCn win lOse their best pat
ror- uad the newspapers will lose the
advertising because Il win not be
necessary TO advertise when there is
no competition. All this might be toll
Crahlc II thc saving thus made went
90 the consumer. but az n matter OF
fact II goes TO the monopoly. My at
fcntlUn las been called 10 n prospectus
issuyd bf the international Steam
Pump company organized March 1890,
under Ga, laws az New Jersey. md
capitalized at 27.50n 600, 81 which
nearly lalf ls preferred stock. and the
remainder common stock. ] call Mt
tcniian 30 this prospectus, because II
sets forth the pinns OF the trusts, and
shows who are TO be bcncfclarlcs,
Tho International Steam Pump com
pauy was organized for the purpose Of
manufacturing steam pumps, and nc
cOrdiug 20 the prospectus. acquired
control ~ the business Of the follow.
Ing corporations either through the
conveyance Of the title 10 the proper
iies, and businesses u such companies,
or by tie ownership 81 not less than
twosth.rds 0f their stock. a. may be
found practicable" Then follow the
names ~ fyr pump rompauioB accom-
panied by the statement that these
companip1 are estimated TO transact
30 per cent II the steam pump bust
ness Of thc United Sintrs. exclusive
81 hIrh-duy engines Tho majority
81 The companies alto manufacture
such engines.
sample case OF Trusts.
one o. the companlcs. taken into
the combination had assets estimated
az q little more than sG.00DopO; an,
other company had nRyets estimated at
n little more thnn S3.Wo.0No; tho third
company had assets estimated az
litJo more thau 81 OooN1o The fourth
company had assets estimated az $500.
0oo and thc ffih company bad assets
estimated at S5WWo The soDd VII
WINS rot estimated lH ihn above Or
urCe Tho fetal assets therefore ~
the hvr companies, nor iUalud5uz Ule
good VII w.rr less than 5l1,uDNu1.
and DO prospectus states that ihr gaH
h.nui u,I prlt'E ~ iAe Use concerns
ful ,'r Scar 1865 c-ftuat' aH t.a
buFiu s.. ~ tM utn W taa rraf,
WORLD piHt 10 sisflra IulGr
the .a.d si "ElfnytHJ additional
eaniug .HM 'lu tdlt'uu" lind the
following
Zach 81 ihr Hye companies NOW
mulu.a arpNric- Iu ita W .l r.t-
ics of fhe niipd stase Et Worth
lur.u aHf Blake cnmH gu es Hsve
stor 3 d Curry STOCK Is London.
HAMBURG Vienna sud other cities,
Some 81 ihcm have eNpensiyo s0lar'cd
managers .tll those agencies Ia this
ami other countries VIII be couf0ll,
dated The stores and agencies main
tanned IN the cities II this country. and
the forces 81 clerks. snlegncn etc.
necessary % conduct them, VIII be
united and decreased, involving an cs-
tlmated saving Of az least $500 900 n
year. The expenses Of each company
for rs draughtIng department, incl.
dent 10 the elaborate drawings and
specifications for estimating 81 work.
VIII bring about a further reduction.
The standardlzng Of the patterns for
farm and domestic work which
Is now under way Ia the Worihngton
factory when applied to the entire
business Of the new company, VIII re-
suit In mn estimated saving OF at least
$1,000 per year"
And then follows in black type this
significant statement:
ADVANTAGES Of Consolidation.
"a conservative estimate OF the I'D.
vantages derived from consolidation is
believed to be $1,000, 900 over the pres
ent earnings, which would make to-
tai OF future net earnings, with the
estimated earnings based on ten
months Of the years business Of So
800. 900, of per cent. on the preferred
stock, and over IL per cent on the
common stock of the new company"
1t will thus be seen from the pros
pectus that the advantages secured by
the cutting down Of expenses, will
double the income, and not a word Is
said about giving the adynntn@"
this reduction 10 the consumer 1T
money taken from the travelling men,
from the hotclkeepers, from tho rail-
roads, from the liverymen, from the
newspapers, and from others who suf
Yer by the discharge Of travelling sales
men, clerks, etc, Will all be added to
the profits of the monopoly The stock
was TO be watered, and prices main
tanned to pay dividends upon fictitious
capital.
TO give further guarantee to
the monopoly, the prospectus says that