Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1904-05-06
WHOLE NUMBER 2,29l.
TRUST OWNERSHIP.
TRUSTS CONTROL OVER SEVEN
BILLIONS OF CAPITAL.

National Laws.
In his book entitled "The Truth
About Trusts" John Moody says that
the grand total capital Of all trusts,
industrial, franchise and transporta-
ton, is $2O,379,l62,511. According to
Mr.. Moody, the seven great industrial
trusts are the United Steel corpora
ton, the United States Tobacco COM
pany. the American Smelling & Re-
fining company, the Amalgamated
Copper company, the international
Mercantile Marine, the American Su-
gar company and the Standard Oil
company. These seven companies
control 1,52S plants and have an ag-
gregate capitalization Of $2,662, 1872.
100. Mr.. Moody also names 29S lesser
industrial trusts, controlling 1926
plants, and having total capitaliza.
tion outstanding of 81 ,O55 ,O39, ,433. He
likewise gives a list of 13 industrial
trusts which are now in the process OF
reorganization or readjustment.
These control 334 plants and have a
total capitalization of $52S, S,551 900.
These include the American Milling
company, the Consolidated Lake Su.
perior company, the General Asphalt
company, the Consolidated Rubber
Tire company, the international Fire
Engine company, the international
Salt company, the New England Cot.
ton Yarn company, the Pacific Pack
ing & Navigation company, the United
States Cotton Duck corporation, the
United States Realty and Construc.
tion company, the United States Ship
building company, the Virginia. a.Caro-
lima Chemical company, and the
White Mountain Paper company.
There are, therefore, 31S important
industrial trusts in this country, con.
trolling 5,2SS plants, and having a
total capitalization outstanding Of
$7,246,342,533. The eight leading
franchise trusts, according to Mr..
Moody, are the American Bell Tele-
phone company, the Western Union
Telegraph company, the Commercial
Gable company, the Federal Telephone
company, the Consolidated Telephone
company, the international Telephone
company, the Interstate Telephone
company, and the United Telephone
and Telegraph company. These con-
troll 136 plants and have a total capi-
talization of $629. .7OO,5OO. There are
also 103 leading gas, electric light and
street railway consultations, making
total of Ill important franchise
trusts, controlling 1886 plants, and
having a total outstanding capitaliza-
tion OF $3,735, ,456,075.
There are six great steam railroad
groups, of which the Morgan group,
with capitalization of 80 ,265 Il 1l6, $50.
is the largest, the others being the
Vanderbilt group, $I,l69,l96,l32, the
Pennsylvania group 81 ,S22 ,4O2 ,235, the
Gould d-Rockefeller group $1,36S,S77
$40, the Harriman-Kuhn.Lo Loeb group
81 ,32l ,243,7l1, and the Moore group
$l,O7O, ,25O,939, making total of $9,-
O17,0S6,907, There are also ten allied
independent railroad systems having a
capitalization of $3.50, ,277,OOO.
All of these trusts exists In violation
OF State and national laws. They are
not chartered corporations, but illegal
combinations Of corporations, governed
by boards of directors elected without
authority of law by secret agreements
among trustees of the legally organ
lied corporations entering into a mer-
ger. These trusts control the rail-
roads, the banks and the industrial
systems and thus practically control
the business of the country. No won
der these trusts were able in 1896 to
contribute $l0,O00,O00 to the cam
paign fund OF the party of special
privileges granted under the name of
protection to labor and to infant in.
dustries." In the light Of the appall-
ing growth OF the trusts and their
potent influence in political affairs,
it is plain that this boasted republic
has already become a government of
the trusts, by the trusts and for the
trusts. The plain common people
that Abraham Lincoln loved to talk
about are no longer in it.
THE woman was doing her shopping.