Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1900-09-17

| LIZ LGAn= t3iAs Id[IOIlG| Can
! closed in the smaller towns and bust
ness concentrated in the large cenrers
| IL means, also. that whenever there IL
! 4 surplus on hand, part Of the factor
irS ran I've closed, and the burden of
| ma intaining prices thrown upon the
| wage workers. There are already seat
| tered throughout the land Idle piarIis
| which stand as silent monuments to
| the evils Of the trust system
| -" next advantage mentioned is
| that I'm case Of local strikes and fires
the work q .s on elsewhere. thus pre-
| venting serious loss"
| This means that a monopoly can alb
! sOlutely control the workingmen, for
1 If strike occurs in 4 factory in one
| stare. the factory can he closed down
| indefinitely while the employees are
| starved into submission. and. as the
| trust can do the work in some other
| factory without serious loss. il * quite
| Independent of the employees. and can
| absolutely prescribe the terms and
| conditions upon which they shall live.
| The more complete the monopoly the
| more opposed the managers Will be TO
arbitration. because. In case OF any con-
| test between the trust and its EN-
plOyes. the trust Will have every ad-
vantage and the employees viii be per
rectly pOwerleSs.
Flint Is that There + 10 multiplied
ion Of the means OF distribution and
4 better force Of statesmen viii take
he place of 1 large number"
DFummers Dispensed With.
This is an intimation that under the
truSt system the travelling salesman
will not he needed. When every retail
merchant must buy all goods of one
class from a single company. the
work can he done by samples. and no
travelling men Will he needed. There
viii be no competition between differ
cnt factories because all are under one
nanag cement. The first man to feel
this Will be the salesman, who Will
lose his occupation. The next man
to feel il will be the hotel man. who
will miss the trade of the travelling
salesman. The railroad will lose the
mileage paid by the travelling man;
the liverymen Will lose their best pat
rons, and the newspapers will lose the
advertising. because il will not be
necessary to advertise when there IS
no competition. All this might be toll
cradle il the saving thus made went
10 the consumer. hut aS Il matter OF
fact IL goes to the monopoly. My at
tentiOn has been called TO Il prospectus
issued 10y the International Steam
under the laws of New Jersey. and
capitalized at S2T SOC. 600. of which
nearly half * preferred stock. and the
remainder common stock. ! call at
tentiOn To this prospectus. because it
sets forth the plans of the trusts and
shows who are TO he bcneficiaricS.
The International Steam Pump COM
pany was organized for the purpose of
manufacturing steam pumps. and ac-
cOrding 10 the prospectus, acquired
control OF the business Of the follow
ing corporations either through the
conveyance Of the title TO the proper
ties, and businesses of such companies,
or by the ownership Of not less than
twO-thirdS OF their stock. as may be
found practicIblc' Then follow the
names of five pump companies. accom-
panied 10y the statement that these
companies are estimated to transact
30 per cent. OF the steam pump bust
ness. Of the United States, exclusive
of high-duty engines. The majority
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 $1,000. 900: an
other company had assets estimated at
Il little more than $4,000, 900; the third
company had assets estimated at n
little more than $1,000. 600. The fourth
company had assets estimated at $500
600. and the fifth company had assets
estimated at 100000. The good will
was not estimated in the above fig
ures The total assets. therefore. of |
the five companies. not including the
good will. were less than $4,000. COO,
and the prospectus states that the COM
bined net profits of the five concerns
for the year 1895. estimated on the
business of ten months of the. year l
would amount 10 81 100000. Under |
the head OF Estimated additional
earnings from consolidation" find the |
following:
Each of the five companies now
maintains agencies in the principal cit |
les Of the United States. The Worth |
ingron and Blake companies have /
stores and carry stock in London,
Hamburg. Vienna. and other cities.
Some Of them have expensive salaried |
managers. All these agencies in this |
and other countries viii be consoli-
dated. The stores and agencies main
talued in the cities of this country, and |
the forces Of clerks. statesmen. etc.
necessary 10 conduct them. will he /
united and decreased. involving an es-
timatcd saving Of at least 500, 900 4
wear. The expenses of each company
for its draughtinG department. Incl
dent 10 the elaborate drawings. and
specifications for estimating of work,
Will bring about a further reduction.
The StandardiZing Of the patterns for
farm and domestic work which
Is now under way in the WorthingtOu |
factory. when applied to the entire
business OF the new company. will re-
suit in an estimated saving OF at least
5000 900 per year"
And then follows in black type this
significant statement:
Advantage of Consolidation.
"A conservative estimate of the adj |
rantage> derived from consolidation is
to be 81 800 900 over the pres
mi earnings. which would make to-
al OF future net earnings. with the |