New-York tribune., 1902-12-31

and its outstanding stock is now S97. SOC. 900.
almost exactly the amount of the ceruncdteS
originally issued by the trust.
The Standard Oil Company OF New-Jersey
controls petroleum refneries in all the prlnclpdi
Ohio and West Virginia, and an extensive sys-
tenn of pipe lines. 1t produces about DO per cent
Of the countrys total output of refined Oil, Il
large part of its product being carried abroad III
its feet Of tank steamers, for its oil is sold al
most all over the world. In conjunction with ltS
refineres it operates large plants for the manu-
faCture of its tin cans and its barrels, and Tor
the utilization of the byproducts OF the crude
oil. Although its nominal capitalization is
little under S1000O0,O0O. its stock has sold above
500 and is quoted at GOO. or a little over
the total market value OF the stock being,
therefore, about $3.50 100000 The dividends de,
clared this year the stock have aggregated
40 per cent In 1901 and 1900 the yearly dtvl-
dend was 4S per cent
OF the great corporations organized in the
year just closing. the most important and the
most interesting i3 the International Mercantlle
Marine Company. 1t has S120OoOOoo capltal
stock. equally divided between common ana pre-
ferred, and S50000000 bOnds-a total capltallZa-
tion of S110.000,000. 1t is a combination OF the
American and Red Star lines, both previously
controlled by the International Navigation Com
pany. which corporation has been reconstructed
and enlarged into the Interna tional Mercanlile
Marine Company the Atlantic Transport Line,
the Leland Line and the White Star and Dom1n-
ion lines, both British corporations Agree
mentS have been made insur1ng friendly reld-
tions with the Cunard Line and the two greai
German companies, the North German Lloyu
and the Hamburg-American, so that now all eH-
Cept two three of the regular steamship lines
of the North Atlantic are operated under Wildt
may be regarded a central control.
The year 1902 has witnessed the ending OF an
international trade war which had its origin IN
the decision of a great American corporation,
the Consolidated Tobacco Company, to extend
its operations to Europe; new international
corporation being formed, in which are repre-
sentatives of the tobacco interests OF both the
United States and England The history of the
Consolidated Tobacco Company Is LuusLrd-
tive of the successive steps through Whlch
a small corporation becomes a great cor
poration. The evolution began IN Decem-
Der. 1898, with the formation by inter-
ests identified with the American Tobacco
Company which had been in existence since dSSo
of the Continental Tobacco Company, with go
900 900 capital a consolidation of several large
plug tobacco concerns. A little later the plug
tobacco business of the American Tobacco Com
pany was turned over to the new corporation
In March, 1899 the American Company ap-
sorbed the Union Tobacco Company, a connlna-
ton of plug tobacco and cigarette concerns
organized few months previously. The Amerl-
can Snuff Company, a combination controHhe
a business allied with the tobacco business
was incorporated in March, 1900 with S21ooo-
600 capital and came under the joint controi OF
the American and Continental companies. Ihe
American Cigar Company was also organized
about the sa me time by the same interests
The next step was the Incorporation in june
1901 of the Consolidated Tobacco Company,
ca apital 100000 OO0. which acquired control of
the American and Continental companies ana