The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-02-06

and which may stlll be occasionally accom-.
plshed. by placing the stock Of competing
corporations I'm the hands Of trustees or
by some other means, bringing under ono
management and control competing con
Germs.
This method IS no longer usually resortcd
70, but q much more effective means Of ac
compishing the same result is the one
which Is now In vogue-.that Is. by having
one corporation buy up the physical proper
ties Of It's competitors, thereby creating
partial or complete monopoly,
~
The injurious effect Of such a comhna
ton must be apparent to every one, hut
can not restrain my inclination TO fortify
the correctness Of public sentiment on this
subject and 10 reinforce my own views by
quoting the language or the supreme court
OF the United states used in the freight
traf6c case, 1876 L S. 800, In discussing the
very matter now under consideration;
at is true the results Of trusts or com.
blnntlons may be different IN different kinds
Of corporations. and yet they all have an
essential similarity and have been induced
by motives Of individual or corporate az
| grandizement as against the public inter.
I
| they have even temporarily or perhaps per.
manently reduced the price OF the articles
/ traded IN or manufactured by reducing the
expense inseparahlc from the running Of
many different companies for the Same
| purpose Trade or commerce under these
circumstances may nevertheless be badly
and unfortunately restrained by driving ont
OF business the small dealers and worthy
men whose lives have been spent therein,
and who might he unable 20 readjust them
selves 60 their altered surroundings Mere
reduction I'm the price OF commodity dealt
In might be dearly paid for by tho ruin Of
such a class, and the absorption and con.
troll over one commodity by an allpowerful
combination OF capital. In any great and
extended change IN the manner or method
OF doing business &c seems TO be nm incvitn-
Bile necessity that distress and perhaps ruin
shall be it's accompaniment in regard 10
some OF those who are engaged In the old
methods. A change from stage coaches and
canal boats to railroads threw at once a
large number OF men out Of employment,
changes az hand labor TO that OF machinery
and from operating machinery by hand 20
The application OF steam for such purpose,
leaving behind them for the time mum
Der Of men who must seek Other means of
livelihood These are misfortunes which
seem 10 be the necessary accompaniment or
all great Industrial changes.
y 1T is wholly different, however when
such changes are effected by combinations
Of capital whose purpose In combining Is
to control the production or manufacture Of
any article in the market and by such con
troll dictate the price at which the article
shall be sold, the effect being TO drive out
Of business all tho small dealers IN that
commodity and render the public subject
ia the decision Of tho combination &c TO
what price shall be paid for the article. In
this light II Is not material that the price
for an article may he lowered. II 10 in the
power OF the combination to raise It., and
the result In my event ia unfortunate for
the country by depriving II Of the services
OF large number of small but independent
dealers who are familiar with the business
md who had spent their lives in Il. and
who supported themselves and their fam
lilies from the small profits realized therein.
whether they he able to hnd other avenues
10 earn their livelihood is not so material
because Il IS not for the real prosperity OF
any country that such changes should oc'
cur which result in transferring an indie
pendent business man, tho head Of an Is.
tablishment, small though it he, into a
mere servant or agent OF a corporation FOR
selling the commodities which he once man
ufactured or dealt in, having no voice I'm
shaping the business policy OF the com.
pany and bound 10 obey orders issued by
others. Nor IS II for the substantial In
terests Of the country that any one com.
modify should he within the sole power and
subject TO the sole viii Of one powerful
combination OF capital"
~
The pernicious results described IN the
language quoted can be shown by few
Illustrations Of what has already been ac-
compllshed
In the report OF the attorney general Of
South Carolina. submitted IN 1902. II IL
stated that IN April, 1897, one corporation
organized under the laws of New Jersey
began to purchase and obtain control Of
the fertnizing factories IN South Carolina
and has continued TO do so ever since. until
it has acquired practically the control Of
the phosphate industry OF the state"
Further on in the same report It Is stated
that shortly afterwsrd the Southern Cot
ton on company entered the State and be
'"ANFh
until today It owns and controls at leas
twcnty.one Of such mills organized and
chartered Individually as domestic corpora
lions under the laws Of this state"
need not dwell upon the consequenc
OF such combinations as have just bee
h described,
Unquestionably II Is within the powe
; Of the company which mas acquired cor
troi OF the phosphate industry Of the Stat
Of south Carolina, since It Is free fror
! competition, 10 increase the price Of fe,
tilizers TO the highest price at which IN
. people OF the State can continue TO pun
Chase them, while on the other hand b
= acquiring control Cd such a large propoi
non Of the cotton seed oil mills In tina
!. State. ne Southern Cotton Oh eoupan