Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-03-09
CONSOLIDATION.

This is unq~uestionably the age OF
consolidation. The twentieth century
dawns with our industries in all d.
rections in a state of transition to-
ward Capitalization, a movement that
may BIZ said only to have begun. This
at least is the feeling in Intelligent and
farseeing circles of finance and indus
try and the facts seem to indicate that
such a bloodless revolution is now IN
actual progress.
The country was startled by the re-
cent billion dollar combine of steel in
dustries, but that is hardly a beginning
In the great scheme of consolidation
OF railroad and industrial enterprises
that is surely working toward con-
summation, with or without the know
ledge and assistance of the mighty
captains OF industry behind that 81
gantic combine.
} George Gould and the Morgan and
Vanderbilt interests stand for about
all the great trunk lines in the coun-
try, and Mr.. Gould has stated hat a
far-reaching consolidation of railroad
interests is in view if not in pro-
gress. We can only hope that he is
right in his belief that it Is for the
best-for the good not only OF the
roads but of the shipper, who, Mr..
Gould says, will then be assured a low,
stable and uniform rate. That the
rate will stable and uniform goes
without saying, but as to whether 1t
will be also low will depend alto
gether on the ~liberality of the masters
of the situation-the ~railroads-and
no one, we believe, has yet discovered
those corporations to be particularly
Bolicitous for the welfare of the ship
per or mindful of anything except to
make a good show of earnings. Mr..
Commerce Commission stands between
the people and extortionate rates is
little more than amusing. The COM
mission has proven itself about as
useless a piece of legal machinery for
the protection of the public from rail
road extortion and discrimination as
ever the railroads could wish.
However, the fact remains that Mr..
Gould is right as to the facts of the
consolidation of lines, whatever may
be the consequences.
Wheeling would like to know of Mr..
Gould, however, whether his state
ment means the abandonment of his
proposed extension of the Wabash
through this city and IN eastward.
This enterprise, begun by Mr.. Carnegie
when the Pennsylvania refused to give
him satisfactory rates, would hardly be
continued if these roads were
merged under one management.
And our anxiety in this respect fur
nishes the keynote to the o~vershadow-
ing danger that lies in the absolute
elimination from the railroad business
of that great incentive to invention, de-
velopment and progress-competition,
Just as our high tariff encouraged
the formation of industrial monopolies
at home to prey on the home consum
err to the neglect of the worlds trade
abroad until Jul overgrown industries
found themselves producing a surplus
that had to be marketed abroad, just
so is railroad consolidation and mo-
nopoly likely to stife railroad enter
prise and the development Of the
country, existing railroads being con-
tent to pluck the shippers they have
at their mercy rather than expend mon
ey and energy in new enterprises for
the development Of new territory.
Miss Portia Knight, the actress who
has sued the Duke of Manchester for
breach of promise, does not want to