Omaha daily bee., 1902-08-28
They Are, Hs Explains, Neither Trusting
Nor Much Trusted.
REVIEWS THE CAREERS or MoNoPoLIEs
Most Of His Annual Address at Saratoga
Concerns Them.
TOUCHES ON OTHER TIMELY TOPICS
Refers 20 Primary Elections and Mi
nOrity Representation and Doubts
the Advantage of a Popular
Election of Senators.

can Bar association began it's twenty fifth
annual meeting here today. There was a
large attendance OF delegates when the
meeting was called to order by President
U. NJ. Rose Of Little Rock. Ark, who then
delivered an address.
He spoke OF the work Of the association
and Of the efforts of the individual mem
bers during the past year. Feeling refer
ence was made to the death OF President
Mckinley, an illustrious member OF the
American bar, and to other members Of the
association who have appeared before the
Great Judge since the last meeting of the
association.
President Rose then took up the question
OF trusts and some OF the other leading
topics Of the day. He said in part:
We are all by this time FAMILIAR with
what are called trusts" so-caled, per-
haps, because they contain in their COM
position not single fidueiary element
this subject The first act forbids all per-
sons, natural and artificial, to form pools,
trusts or combinations for the purpose. OF
regulating or fixing the price of any article
OF trade or merchandise, or to limit the
quantity OF any article Of manufacture or
commodity, or of any repair, or the
premium Of any insurance. An exhaustive
definition Of monopoly is given. and the
practices OF underselling with a view to
,stihe competition and boycotting are de-
inounced Heavy fines are prescribed for
any violation OF the act; and, in addition,
provisions shall forfeit its charter. and
any foreign corporation so offending shall
forfeit its right to do business within the
state.
The second act relates to procedure. The
attorney general may make an application
TO judge of the supreme or circuit court
for the examination OF any suspected per-
son, wnicn snail be nau D=fUre tine judge
himself or before referee; the judge hav-
ing power to issue preliminary injunctions
to prevent violations pending the investiga-
ton. The person charged may be COM
PEELED to produce all books and other docu-
ments relating to the subject OF the ex-
animation. No witness shall be excused
from testifying on the ground that his tes-
no witness shall be punished on account
of any transaction concerning which he
may testify.
There has been legislation along the same
lines in other states, developing. however.
no new features.
wifhout Apprehension.
A German writer, who has lately written
q book about American trusts, counts the
American bar among these parasitic insti-
tutions, saying that We hold meetings for
the purpose of regulating fees, very sur
prising statement that could hardly have
been made by anyone save foreigner un-
acquainted with professional life In this
country. It is due to the truth Of history
that we can look upon the pending contest
for supremacy between the United States
and the beef trust, II not with indifference,
at least without apprehension.
Our country during the last thirty years
has witnessed change Of such magnitude
as 70 be without single parallel In his
tory BY means of vast aggregations OF
money corporate monopolies have been es-
try What effect these tremendous crea-
uons Will have on our future destiny
morally. socially. financially. legally, no
OF confidence. II It is true. as ' said dsreS bS
Oliver Cromwell, that no one goes so far as
the man that does not know where he Is
mt
long journey.
Monopolies are as old as human history.
and We cannot doubt that by their grinding
oppression they kept men and women living
awake OF nights long before the first page
of history was written. Tney were for
Rome; they were forbidden by the COM
mon law of England, and the common law
was reinforced from time TO time BY stat
utes. For a while during the reign Of
Elizabeth they fiourished, for the virgin
queen was prolific in progeny of that sort.
nifty naonopolles to prey on the community
Hume, the historian was amazed at their
number and rapacity. He says:
when this list was read in the house
member cried: Is not bread in the
numbers? Bread said every one in as
he, ~ affairs go on at this rate we shall
have bread reduced to a monopoly before
the next Pariiament, These monopolles
raised the price OF salt from is pence a
bushel to II or IS shillings."
most intolerable for the present and the te
most pernicious in their consequences that
were ever known in any age or govern
In order to build up an empire in the east
Parliament granted monopoly TO the East
l lnala company. which became so oppres-
necessity. IL soon learned to charge 400
per cent profit on every article that II sold,
IN quality that Il had hardly a trace OF the
plant OF tina; name,
or course these results were not reached
Al at once prices were raised gradu-
ally and stealthiiy under pretense OF de-
creased production.
More Than Four Thousand MOnOpOIies.
Instead of nifty monopolies we have at
present more than 1000, TO say nothing of
pools, with buying and selling agencies,
exercising functions similar TO those of the
trusts trusts al orgSAiized for the Che purpose OF
vantage Of fixing prices in this manner
there would be no motive for the eombina-
most cases neither the purpose nor the
power Is denied; ON the contrary they are
proclaimed for the object of raising the
price of corporate securities. That the ad-
vantage arising from suppressed rivalry
appreciated Is shown BY the vast amount
Of money lavishly invested In these COM
SRSu1ns SRS 9p into ne ne number 9f these runs
sShaustsd but every day Brinss its Sq report port
future OF which cannot be predicted since
most OF these corporations are authorized
10 buy up the stock of any other corpora
ton so that they may at any time acquire
supreme control over industries extremely
remote from those ostensibly In View when
they were hrst created
The frst success OF one OF these com
binations, II successful az all, Is alluring In
a high degree. IL the property Is capital
ized at twice It's value, the lowest capital
izstiOn known, and the securities are fioated
AZ par, the result Is that the former own
ers IND themselves twice as rich as they
were before, and at a very trifiinE outlay
OF time, money or energy, 20 say nothing
Of future OF immense possibilities I'VE
shall not be surprised therefore, when
told that many similar Organizations are
started with the deliberate Intention OF
swindling unsuspecting stockholders. Nor
need We hSNe oeeh ssfp5ssed wnen the gov
January 10. 1902 declared 6SS charters
granted BY that state forfeited for nom
payment OF taxes assessed for their issue
Two OF these infant decedents were at