The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1900-09-19
WI. 81. DNIlN q HNll- lNUOI oil LLOll, SEP


ership of not less than two-thirds OF tner
stock, as may be found practicable.
Then follow the names of 1--WE pump com.
panies. accompanied by the statement
that these companies are estimated 10
transact ninety per cent of the steam
pump business of the United states, eN-
elusive of high-duty engines. The ma
jority of the companies also manufactYFe
such engines.
Sample Case of Trusts.
oneNof the companies. taken into the
combination had assets estimated ut
little moro than six million doiIaFs' uh-
other company had assets estimated AT
little more than three millions; the tni .Ia
company had assets estimated at httIe
more than one million. The fourth COM
pany mad assets estimated at elgnt nun
dred thousand dollars, and the NTH com
pany had assets estimated at seven nun
dred thousand dollars. The good VIII was
not estimated in the above figures. me
total assets, therefore. of the hXe CON- 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
1898. 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" find tine tol-
lowing:
Each of the five companies now main
tains agencies In the principal cities OF
the United States. The worthington and
Blake companies have stores. and carry
stock in London, Hamburg, Vienna, ana
OlIeT CllleS. some OF them nuN6 eNpciA
sive salaried manSgers. All these agen-
cies in this and Other countries VIII be
consolidated. The stores and agencies
maintained in the cities of this country,
ana the forces of clerks. statesmen, etc,
necessary to conduct them, will be united
and decreased. involving an estimated
saving of at least $4,000 year. The
expenses of each company for Its draught-
ing department, incident to the elaborate
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 Worthington fac
tory when applied to the entire business
OF the new company, will result In an
estimated saving of at least $2O0OOO per
year"
And then follows in black type this sig
nificant statement:
Advantages of Consolidation.
"a conservative estimate of the nd
vantages derived from consolidation is
believed to be 81, 10000 over the present
earnings. which would make n total of
future net earnings. with the estimated
earnings based on ten months OF tho
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 CIV
ing the advantages of this reduction to
the consumer. The money taken from
the travelling men, from the hotel keep
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 hci-
tIous capital.
TO give n further guarantee that the
monopoly. the prospectus says that tho
principal men connected with tho various
companies would become identihed WIN
the company and would contract not to
engage in a like business for ten years.
But what about tho public? What guar
antee has the public that this monopoly
will not raise prices? Is It not human
nature 10 make all the profit possible out
of a monopoly? Is 1t not reasonable to
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 1t not reason
able also to expect that there viii 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 a little book described as an en-
vestment Guide" and Issued in 1900. by
Henry Clews S Co., bankers, find list
of large corporations. together with
brief description of tho 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.
corporations organized since the last
Presidential election:
Trusts Formed Under Mckinley.
The American Agricultural Chemical
Company Incorporated under tho laws OF
Connecticut, In May, 1899, has an author
lied capital of AOOCO,OCO. half common
stock. and half preferred. 1t acquired
twenty-five of the largest fertilizing con-
Germs in the country.
The American Bicycle Company. tncor-
pora ted In May. 1899. I'm New Jersey. with
800 100000 of common stock and 600
preferred. consolidated forty-four of the
largest bicycle concerns In the United
States.
The American Hide and Leather Com
pay, Incorporated in New Jersey in May,
1899. with an authorized capital OF $685.
0OO. COO. hal; common stock and half pre-
fcTIcd controls about scvsFy-ilvc per cent
of the upper leather outuaJ of the coun-
try.
The Americnn Linsced OH Company, in
1898. with u capital stock of 1888. SOC. 9oo,
half common stock ana half preferred.
consolidated eleven large linsecd oil com
pnnies and controls over eighty-fiVe per
cent of Nthc Iinseed oil properties in the
United States.
The Am. rican Steel Hoop Company. in
corporatud in New Jersey In April 1899,
consolidated nine large steel and iron
Companics in Ohio and Pennsylvania,
capital stock $4,000. 600 common, and Sl4.-
COO .OGO preferred.
The American Ship Building Company.
Incorporated in New Jersey In March,
1899 with authorized capital of $780,
10000, half common stock, and half pre-
and kindred interests on the great lakes"
nd