The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1901-05-30

not organized until 1881. During tie IL
years prior 10 its organization the price
of oil had declined from 25.7 cents to SO
cents a gallon. During the first year OF
the trust the price went back to 1913
cents, and in the following 10 years
there was a decline only to "A cents. and
the price today is above the figure of 10
years ago
1T is true that the large refineries be-
gan to come together back i'll 1872, but
not to any extent until 1875, when the
| larger part cf the price decline of that
decade had been effected. Moreover
currency CHI. nges affecting all prices are
to be taken lto account in studying the
above figure and also the great reduc-
ton In gene al commodity prices which
was simulta eously being effected under
competition md which made for the add
vantage of fle oil monopoly along with
other consu. lers. It is not proved and
cannot be p.Jyed that greater fall Of
prices would not have resulted from
! a-1.- cI'':.-- 3. y. a..- ~ 80 OF iusi-
ness. and hence it is not proved that the
monopoly has been a benefit to the oil
consumer. or that it has fairly shared
with the consumer any of the arbitrary
or other advantages obtained by mono.
poly power from the railroads ana 9TH
erwise. The extraordinary riches Of the
men in the combination go to prove the
contrary.
The next case offered is that of sugar
before and after the rise of the American
sugar refining company. The exhibit j.
rather impressive when considered by
averages, ~ for the nine years befoie
he trust was formed i'll 1887, the nine
years after, and the five years since 1896.
| These average in cents for raw centri-
fugals per pound, for graduated refined
and for the difference between raw and
refined have BEEN
Raw Refined Difference.
Vino veora ~ 1ss- $50 T"S ~
Nile years after. t.o4 900 v.,J
F'yo vaar, - dat. AZ Aus 07'
But MIR. fnu.ber n"ively rellsus that
the very low margin for the retner dur
lug the past five years is due TO 'increas-
ed competition and not to monopoly at
oil, ana tuelc a. reason 10 SUSPECT that
this outside competition was responsible
for much of the margin reduction III the
first nine years Of the trust, rather than
to voluntary action on its part.
For in 1856 and 1887 under the
stress of competition, the difference be-
tween the price Of raw and refined had
fallen to OIL cents and O.64 cents, re-
spectively. The trust was then formed
and the refners margin was promptly
put up to - cents in 1888. and 1.32
cents in 1889 It then fell back to 90
and O. 10 in the two following years,
probably to meet new competition or
freeze out some Independent concern,
and was advanced above a cent again in
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