Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-06-01

derby manner, and according to law.
| When select group of highwaymen,
known to magazine literature as Cap
tains of industry, want to get hold OF
! a valuable piece of property, they first
attack it's stock on the market. AS
soon as they have destroyed public
confidence in it, they make 1T difficult
| to borrow on il as collateral, forcing
| it on the market in large blocks HAY
! ing forced it to the lowest point, they
secure control and the bear attack
having ceased, the prospects OF the
property Immediately brighten and
! the stock rapidly rises, when It is again
nrloaded on a new set of victims
Another plan is to get conspirators
| on the board; new and expensive inn
provements are projected, possibly ter
ritory is invaded that will not pay
| income for years; large sums are Dor
! rowed from the very men who are
plotting the wreckage and at the prop
er time a receiver is asked for and
! the property sold and bid in for the
bonded debt.
| Still another plan, and the favor!te
| one, is to get Smith, Jones, Brown ct
all to turn in their plants to central
company, at about three or four times
their real value. taking in payment
stock in the central company, which is
known as the trust. After all Compel
Ing plants are in the pool, prices on the
products are raised to the most extreme
limit that the trade will allow, and If
the product happens to be dutiable, as
lit generally is, this duty operates, of
course, to the advantage of the men en-
gagged in boosting prices. Then the
total extravagant values are multiplied
by four and stock to this limit issued
and placed on the market. A block or
stock is issued to the head devil, called
the promoter, and If 1t happens to be
sSchwab he will stipulate to have his
stock sold first After the stock is sold
the men who organized it and held it
UP, Financed it," as they cali it, lose
interest The men who turned in their
property, If smart, will sell their stock,
too and in the end lot of suckers own
stock, so per cent wind, in a business
they know nothing about. managed by
high priced officials who know nothing
about 1t. Any fool can foresee the re-
suit.
have never been one of those who
lnlnk tIldt uFusStS IHelidCe lit CouultS
future but l will help them on to their
inevitable destination by depriving
them of the advantage of protective du-
ties. There is no man so ignorant that
he can not see the situation. The po-
litical managers turn a deaf ear, be-
cause it would interfere with the cam
paign fund; the local politician or
claquer or 2x4 editor ignores it because
that is his cue.
But New Workers don't buy this
stock; they are too cute. The average
New Yorker is on to the curves of men
like Morgan and Schwab. and these
men have to go to the country for buy
ers. / think the United States Steel
was sold largely in New York because
that had the prestige of Carnegies
name behind it, but this was another
Wall street play-Carnegie wanted to
retire He told the steel manufacturers
that unless they bought his holdings he
would ruin them. and they bought
They went to Morgan and thru him the
trust was formed 1t was not Morgan's
scheme, and possibly ]. p. Morgan has
suffered the blame for a condition of
things that he was helpless to prevent.
But. while all these schemes are indie
feasible from the standpoint of ethics,
they are not illegal, and they are order