The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-01-09
GREAT RAILROAD TRUST.


great railroads of this country will be in
one mighty transportation trust, and
the same trust will also control the ocean
ships, thus having complete monopoly
Of the TRANSPORTATION business Already
three men-John d. Rockefeller, ]. Pier
pOnt Morgan and James ]. Hill--control
ships and trains so that one may go on
their trains and ships round the world
from Southampton to Shanghai via the
United States. The purpose of this great
trust in transportation, while kindred to
the greed that characterizes all trusts, is
specifically to get the millions in the
Ship Subsidy bill and to run their tracks
around the Interstate Commerce Law.
Already six capitalists control those
railroads:
New York Central; Delaware, and
western; Pennsylvania; Norfolk and
western; Chesapeake and Ohio; New
York New Haven and Hartford; South
ern; Erie Reading; Jersey Central; Bal
timore and Ohio; Chicago, Milwaukee
and st. Paul; Northern Pacific; Great
Northern.
The magnitude of this trust, organized
to defy legislative regulation and to put
its hands into the public treasury, has
alarmed thoughtful men of all parties.
Speaking of it, Senator Morgan, of Ala
bama, says: @
sit seems plain that the men who have
brought about this vast alliance of rail-
way and shipping interests are working
to secure complete control of the trans
portation business in the field that they
cover. The deal marks merely another
step in the progress Of the monopolies
that are striving to run this country for
their own benefit. The purpose in COM
plotting the consolidation at this time is
seemingly to secure the benefits of the
ship subsidy bill.
II am most heartily opposed to that
measure and the folly of passing it for
the benefit of such monopolistic concerns
as this railway syndicate is evident. The
whole theory of such subsidies is wrong,
but the absurdity of the system is plain
est when it would benefit such an in
FAINT industry as steamship corpora
ton backed by syndicate that is seek
ing to drive out all competition.
Il understand that about $150,000, 600
was involved in purchasing the interests
that have just been secured by Messrs.
Morgan, Hill and Rockefeller. That vast
sum of money, OF course, was produced by
the people. 1t remains for the people to
say whether they will permit such aggre-
cations Of capital to be diverted into mo-
n0polistic agencies for controlling the
government"
Recently freight rates have been great
" increased because Of change of
increase in reight rates but it
amounts to the same thing in the long
rum A recent report of the inter- State
Commerce Commission contained these
words:
Railroad managers make no attempt
to conform their practices to the spirit
Of the law regulating commerce. The man
ayers claim that they are actually oblig-
cd to counterfeit the aim of the law
s'Frequent determinations are inevi-
table under existing conditions and acts
of injustice committed"
"The determinations favor the few and
handicap the weak. The law, as it stands,
furnishes an incentive to consolidation
Of rival lines"
Twenty five thousand three hundred
and eleven miles of railroad have been
brought under the control OF other lines
between July /, 1899. and November /,
190O.''
by reclassifcation on January /, 1900,
SIS changes were made. all Of which
produced advances in rates, while only
six produced reduction"
The Commission repeats its request
Aat it be given larger powers to deal
with the railroads, but as the railroads
control many of the Senators, no atten-
ton is paid to the request.
Fire underwriters experienced bad
year in 1900, and the consequences win
be that rates will rule higher in many
sections this year. The New York
Journal of Commerce figures up an ag-
gregate fire loss of 1853. 362.25O for the
United States and Canada during the
past twelve months. which compares
with 1886, rs, 200 in 1899 and s119.650.5n0
in 1898. The most destructive fires were
those at Ottawa and Hull. Ont, rated
at $120OO,0OD. and on the Hoboken water
loss is placed at s., $50, 900.