Columbia courier. [volume] (Kennewick, Wash.) 1902-1905, 1903-10-23

the forces of employees, Just as Their
was an understanding among leadinl
financial interests in regard to ad
yancing wages during the last two
years. This statement is made CT
the authority of a man identified Will
leading corporation. While no forma
association exists, because such
body would be contrary to the inter
state commerce law, there is gen
tlemen's agreement which is bindine
on all CT the members and which has
been fruitful of beneficial results ever
since it was put into operation It's
primary object is to deal with the Ia
Dor problem, so that employees of one
railroad can not use another as
club to bring the first named into sub
lection.
The word has now gone forth on all
large railroads that retrenchments are
to be made in certain lines where the
companies can most easily reduce
forces-such as car shops, repair
shops, maintenance Of way depart
ment and improvement corps. By lay
ing men off instead of reducing wages,
those who remain can not well find
fault, although, to be sure, some OF
them will be called on to do more work
than they did before. 1t is understood
here that the reduction of forces will
go on for some little time, all depart
ments in turn being taken up. The
results to the company will be much
the same as if wages were cut, for it
matters little whether railroad with
a wage list of $1,OOO,OOO lays off one
tenth of it's men, resulting in re-
duction to 100000, or made reduc.
ton of 100000 in the wages of its
men and allowed them all to remain.
1t may be that less work will be done
after the forces are reduced, but 1t is
the policy of all of the companies to
continue operations on Just as large a
scale as traffic warrants.
J. J. Hill In the Deal.
James ]. Hills conference with the
railroad officials in
was primarily in regard
o the labor problem and the policy to
,e pursued in making retrenchments.
t is understood here that reductions
n wages will be taken up later, if
business conditions warrant it; but
eading railroad men would much pre-
'er to keep up wages as long as pos
,ible. The policy of reducing wages
will not generally be tried by the rail-
'oads until after industrial corpora
ions have led the way.
Wall street has been much inter-
ssted this week in theory which has
received wide currency, namely, that
the Rockefellers began buying stocks
a considerable time before they reach
ed the present level and that the mar
ket has gone against them a number
Of points in such issues as United
States Steel, Amalgamated Copper
and the grangers. The same story
had it that ]. Pierpont Morgan was all
out of stocks and was watching things
from the fence. Morgan is alleged to
have been suspicious of the stock
market attitude of the Standard Oil
people for a long time, and he there
fore began selling out last year, keep
ing it up ever since. If this assump
ton is correct he now has a larger
balance in bank than ever before in
his life. Those who advanced the
above theory say that the United
States Shipbuilding scandal upset the
calculations of the Rockefellers; thai
they did not foresee these develop
ments. but had laid all their plans tt
lift the market before that inciden
came up. Close observers on the stoc!
exchange find no difficulty in recog
nizing Standard Oil orders when the!
see them, but it is barely possible tina
large buying orders were offset b.
corresponding ones to sell through
secret channels. The course of Unite'
States Steel shares all the week hav'
no sign of the alleged Rockefeller ali
sorption.