Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-09-13
ESTABLISHED, 1925.
Wednesday, September 10, 1905
Trusts Under English Free Trade.

Trusts Under English Free Trade.
The Boston Transcript has a new in
stance at hand to refute that favorite
assertion of Democratic politicians
tina: our protective tariff system has
afforded a special opportunity to
American captains Of industry to Or
sanize trusts and combines, and
thereby increase the price of their
commodities to American consumers.
Some overZealous orators during the
heat of political campaigning go so far
as to say that our tariff policy is the
fruitful parent of all such combina-
lions. OF course there is a serious
flaw in the accusation because we see
the people of free-trade England IN
the grip of certain industrial combines
Just as dominant within their spheres
of action as similar or kindred COM
bines i'm this country. Indeed our
tobacco trust. the American Tobacco
Company, has not as yet acquired the
controlling grip upon the manufacture
and sale of its products that the I'm
perial Tobacco Company of Great
Britain holds In that country. The
latter swallowed its last great COM
petitor. the Messrs. Ogden by a
process of purchase within a year and
now il reigns supreme throughout
Great Britain.
The Transcript tells the story of the
most recently developed British COM
bine which has just occurred in the
screw trade. Formerly for many years
. firm of which Right Hon. Joseph
Chamberlain was a member had a
monopoly in the manufacture of wood
en- screws which controlled the price
in the home market. But the Ger
mans succeeded in breaking in with
cheaper screws and a remarkable
revolution took place. The German
product was rapidly supplanting the
English. Prices and profits dropped
TO a very low level and thus the COM
when both German and British manu-
iacturers concluded to form 4 COM
bination to regulate their spheres Of
sale and the price of screws.
1t has been publicly announced that
the combination includes all the screw
manufactures of both countries and
that n uniform price has been estab-
lished, meaning an advance of about
fifty per cent. on the price. prevailing
for some years past. An agreement
has also been made that no British or
ders for screws will be filled in Ger
many or German orders in Great
Britain after October 81 of this year
and that all orders now in hand must
he executed not later than Dec. q,
1906. How long this curious arrange
ment will hold good depends chiefly
upon the secret understanding alleged
tn exist among the principal manu-
facturers of the respective countries;
one with fiscal policy of free trade,
the other high protection But the
meaning of the movement in it's con-
sequences to consumers seems to be
clear. That meaning according to a
circular issued by Messrs. Finnie e.
Company Of Glasgow, who are the
largest buyers of German screws in
Great Britain. is set forth in these
words, LAS the way toward the forma-
ton of an international syndicate is
now simplilied as between British and
Continental makers. further advances
are impending. and it Is probab BILE that
the British market may shortly be
closed to the import of German
screws"