The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1904-12-06
Tuesday, December 6, 1904.
SUBJECT FOR THOUGHT.

Es 0S9O.Ss O' 'usOS~ss ..
While the subject of industrial and
commercial concentration, or trusts.
has been receiving the attention OF
the people, another form of c%oncentra'
ton has been overlooked, yet, if we
are to accept the statements and opin-
ion of men who have been giving the
matter thought other combinations OF
capital have for a long time been in
the process of formation that promise
to be no less dangerous than those
$50 widely exploited. Only of late have
they been brought to the attention OF
the public. Eastern financial news
papers have taken to writing about
them and pointing out the results
likely to occur should the power pass
sng into the hands of the few who are
seeking it ever be used in a selfish
and Interior manner While as yet
hat power has not been employed il:
! way to make it really dangerous,
hose publications say this is no guar
tntee that it will not be so used.
What the remedy should be they do
Tot profess to say, but that one may
be needed they regard as almost GER
ain.
The. Boston Commercial Bulletin
Ind more recently the Wall Street
Journal have had considerable to say
IF late of the manner in which the
barger of the New York banks and
bther financial institutions, such as
Insurance companies, trust companies,
Underwriters and that class of con-
serns are gradually passing under the
control of a comparatively few
Many are practically owned and o
rolled by the same men, although os-
,ensibly separate and distinct institu-
lions. AS an illustration of the con-
c%entration to which attention is called
he Journal cites the directorate OF
he National City Bank of New York.
The bank has t%wenty-four directors
who are also directors in 357 other
ranks, trust companies, railroads, in
snrance companies, Industrial or mer-
.antile corporations. The combined
assets of the cer and their capt.
.alization thus represented are said to
aggregate the colossal sum of $11,O40,-
Doc, O00. This amountof wealthis so stu
bendous as to be fairly beyond concep-
ion, yet it is controlled directly or in
lirectly by a few men, a mere couple
pf dozen. and gives them greater
financial power than was ever welded
by a like number of individuals since
she world was created.
The fact that some OF the banks,
PARTICULARLY the richer ones, are more
md more manifesting a tendency to do
financial instead of commercial bank
,ng is commented upon as significant.
This disposition is regarded as a
3ymptom of a possible disease which
IN time may require heroic treatment.
Although the time for it may no be
Said to have arrived already, it must
pc apparent to thinking persons that
Eventually governmental interference
kviil become necessary, unless, as
Some predict, these immense combina-
lions and concentrations of capital
Will eventually fall of their own
Weight and a natural readjustment
will follow. Meanwhile, however, the
question is one meriting serious
|hought and careful study of those
Who think otherwise. With capital
representing billions of dollars CON
rolled by a number of men no larger
Ishan In the instance given it is easy
DO Q what might happen were those
non intent upon wrongful smploy-
nent of the power placed in their
|feeping.
!, BE NO sINEcuREs.