Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1905-05-12
Wakina Up.

The power Of great corporations, syn
dictates and trusts, frequently welded
against the best interests of the public,
is beginning to wake up even the most
hidebound Republican,. The st. Louis
e-Democrat has been Tor many
years thick and thin organ Of Repub-
licanism, and no man or paper can be
defender Of Republicanism without
being defender Of corporations, trusts
and syndicates 1t seems that the GID.
has been pinched somewhere by big
corporation growing too rapidly IN It's
own particular bailiwick. As remedy
the CD. seems to be thinking Of
adopting the Populistic plan Of public
ownership, as is shown by the follow
ing editorial:
It is fitting that the people Of st. Louis
should keep themselves thoroughly tn-
formed concerning the increasing concern
tration here Of immense public interests
in the hands Of single corporation.
| Whether this movement 10 to the advan-
| tage or detriment Of the city viii not DO
| considered here. The present object 10 70
| let the people know what Is going on.
| corporation organized fifteen years ago
| under the laws Of New Jersey, known as
| the North American company and sue
| ceeding to what was called the Oregon
| and Transcontinental company. has OBJ
tanned control OF the entire lighting plant
! of ST. Louis and also OF the consolidated
street railway system. which includes an
except the Suburban line. The North
| American company. which has acquired
| by purchase such extensive rights in st.
| Louis, controls the Milwaukee Electric
Railway and Light company. the Edison
| Lighting company In Detroit and also has
Z ct, NNar lit to-
cinnati and Its neighborins cities on the
| Kentucky side, Covington and Newport.
| That the North American company Is
| what may be called a huge business COM
blnation Is apparent.
i 1t is understood that by cash invest
ment of about 81. 500, 900 the North Amer
ican company has secured tho control OF
the entire business Of furnishing BIT. Louis
with gas and electric lighting and the
property Of the transit company The
method pursued in each case was to pur-
chase majority OF the stock OF the va
rious companies absorbed. The North
American company has practically come
into possession here Of the common stock
of the Laclede Gas company, amounting
to $S6O0,00O The Laclede company also had
out 81. 500. 900 in preferred stock and Q4.00o. :
900 of bonds of the Soo00o.Ooo authorized.
the stock Of the Union Electric Light and
Power company. which issued $4.ooo0oo OF
1.-The ao.Oooooo stock authorized and 5000
COO Of the so oOo, 900 bonds authorized The
buyers also obtain. practically at price
far below par, all the common and prefer
red stock of the Missourt-Hdison Electric
company, capitalized at A.oo0oQA With
bonded indebtedness OF the same amour.
Thus the North American company. IN
corporated in New Jersey ana having sim
liar immense exclusive rights IN some
other cities controls all tho Gas ana eiee-
trio lighting business IN st. Iout. and alse
all the business of the consolidated street
railways here. capitalized at over ys0:epet.
COO and was able to secure control Of
these monopolistic properties BY paytng
u7,60o,0o0. The capitalization Of the North
American company y go 10000 Al com.
mon stock. II bought 1en,os3 shares Of the
t,nitad RAILWAYS stock OF as2.H . Mer