Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1904-05-02
ABOUT TRUSTS
1.-THE TRUTH ABOUT TRUSTS"
By JOHN MOODY.
The Book will Astonish Most Readers.
Over 20 Billions Of Dollars Capitalized in
Trusts, Good, Bad and Indifferent. An
Appalling Showing.

In his book entitled 1.-THE Truth About
the Trusts" John Moody says that the
grand total OF all trusts, industrial fran
chise and transportation, is $20,379, 1872
511. According to MOODY, the seven
great industrial trusts are the United
States Steel corporation, the United
States Tobacco company, the American
Smelling & Refining company, the
'gamated Copper company, the
International Mercantile Marine, the
American Sugar company, and the Stan
dard OIL company. These seven COM
panies control / ,52S plants and have an
aggregate capitalization of s., 1862, 752, 100.
Mr.. Moody also names 29S lesser indus
trial trusts controlling 3,426 plants and
having total capitalization outstanding
OF $4,O55, 039, 433. He likewise gives a
list OF - industrial trusts which are now
in the process or reorganization or read.
justment.
These control 1874 plants and have a
total capitalization OF 1928, 55] 900. These
include the American Milling company,
the Consolidated Lake Superior COM
pany, the Consolidated Rubber Tire
company, the General Asphalt company,
the International Fire Engine company,
the International Salt company, the
New England Cotton company, the
Pacific Packing & Navigation company :,
the United States Cotton Duck corpora.
ton, the United States Realty and Con-
struction company, the Virginia. Carolina
Chemical company, and the White
Mountain Paper company.
There are, therefore, 3lS important
industrial trusts in this country, con-
trolling 5,2SS plants, and having total
capitalization outstanding Of 81 ,246, 342,-
533. The eight leading franchise trusts,
according to Mr.. Moody ARE the American
Bell Telephone company, the Western
Union Telegraph company. the CONNER
cial Cable company, the Fede'a al Tele.
phone company, the International
Telephone company, the Interstate
Telephone company, and the United
Telephone & Telegraph company. These
control 1876 plants and have a total
capitalization Of 5000, 100000. There are
also 103 leading gas, electric light and
street railway consultations, making a
total of Ill important franchise trusts
controlling 1926 plants and having a
total outstanding capitalization Of
SO, 735, 456,075.
There are six great steam railroad
groups, of which the Morgan group, with
a capitalization OF 1926, 1880 is the
largest, the others being the Vanderbilt
gronp, 81 1853, 1866 1872. the Pennsylvania
group 81 ,S22 ,4O2 1855, the Gould. Rookie.
feller group, 81, 36S ,S77 $40, the Hartman
Kuhn, Loeb group 81 1921 ,243,71 and tn;
Moore group $l,070,250, 939. making d
total of $9,0l7 ,OS6, 9O7. There are also
ten allied Independent railroad systems
having capitalization of 3SO.277 900.
Recounting these facts, the Wall Street
Journal says:
"lnasmuch as the trusts and their reg.
ulations are now the leading subject te
discussion in this country. and promise
to be the chief issue OF the presidential
campaign, this summary Of their number
and financial strength is of interest ant
value. The total capitalization seems
appalling; 100000, OO0, 900 is one-flfth O
the total wealth OF the United States. 1
must be remembered however, that thil
capitalization Is nominal. 1t does no
represent the actual market value of the
stocks and bonds OF these trusts. Blu
even If an accurate estimate were mad,
of the market value, the total would b.
so immense as to arrest the attention
and command the thoughtful considera
ton Of every student of economic
conditions"