The age-herald., 1901-04-12
SOME FIGURES ON
 THE SALT INDUSTRY Archibald s. White Before h.
 dustriaI Commission MONOPOLY IS IMPOSSIBLE Annual Consumption of Salt in the United States is 13,ooo,ooo Bar
 reIs-A Tax of $1.so Per Ton Is Sufficient.
 
MONOPOLY IS IMPOSSIBLE

Washington April 1.-The salt industry of the country received the attention of the industrial commission today. Archi- bald s. White, president of the National Salt Company was the witness. He said that the annual consumption of salt in the United States Is 13, 900 barrels, of which the National Company supplied last year between S.o0o.oOO and 5000 900 bar res. He said his organization had taken in thirty-six plants, of which six had been closed. He also stated that the ob- ject of effecting the consolidation was economy. Previous to the combination the competition was so sharp that there was no profit in the business, and much in- ferior salt was made. Tn Michigan. for instance, salt was sold for 28 cents a bar rel the barrels alone costing 20 cents. One great saving had been effected in supply ing salt to the districts in which 1t Is made. As a rule the men previously em- ployed had been retained in the plants. but occasionally 1t became necessary to let out some employees. Probably thirty per cent of the statesmen had been dis pensed with as such. There also was saving of commissions to dealers We try to get as near the consumers as pos sble," he said, i've would hand out the bags to individuals if we could do so. We should like to cut out all middle- men"
 MT. White said -thatrthe country is di- vided into districts, the head of each dis- trict being required to make daily re- port The effect of the consolidation, he said, had been to advapce wages 20 or 30 per cent. H1
 A Monopoly Impossible.
 He considered a monopoly impossible in any industry except in cases in which it is protected by the State through patent rights or otherwise. He did not consider any antitrust legislation necessary but tax on excessive earnings might be placed. He thought the time would come when the trusts would be regarded as benefactors because of their conservatism of energy, labor, etc. and because of their prevention of overproduction and the elimination of middlemen As a rule, he contended the stock In trusts Is held by people of moderate means.
 Last year the net earnings of the Ma tional Salt Company had been $1, 1,267, ,569 and the company had paid a ' per cent dividend upon preferred and per cent upon common stock. In reply to ques- tlOnS MT. W nlte Sdlu that tne tax or $loV per ton on salt was sufficient to prevent foreign competition except at seaports. but that the freight rate on American salt Is so much greater than on English salt that the railroad companies generally get the benefit of the tariff protection. Amer ican salt is now. he said. for the first time Is in the history of the country be- ginning to find foreign market.
 MT. White said that there is salt enough in the State of New York to supply the world for a million years.
 The Smelling Company Deal.
 Elverton R. Chapman. New York banker and broker, who has been largely engaged in recent years In financing in- dustrial combinations, was witness this evening. Among the companies he has financed is the American Smelling and Refining Company. MT. Chapman said that this company had issued $27. 400. 900 of preferred stock, and the same amount of common stock, the vender companies receiving cash or preferred stock at par and 70 per cent of the common stock, the remaining thirty per cent going to pay the expenses of the, negotiations. The preferred stock represented the actual value of the properties secured and the common stock the good will. The consol- idation had been effected to reduce ex- penses and eliminate competition. It was calculated. he said, that over $5,O0O.0OO would be saved annually on freight charges alone. He had heard of no com plaint on the present miners concerning the combination. MT. Chapman also de- scribed the organization of the Pittsburg Coal Company along the same lines as the organization of the Smelling Company. Mir Chapman was imprisoned in Wash ington five years ago for refusing to tes- tify before a Senate committee concern ing sugar stocks speculation of United States Senators.