The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1906-06-28
PUBLIC ROBBED BY
GREAT WATCH
TRUST
REPRESENTATIVE RAiNEY DE.
MANDS PROSECUTION OF BIG
MONOPOLY.
TRUST HEADS GUILTY
or Perjury or Deciet--Put S8,o0o,000
Water In Stock and Swear
Patents Are Worth
Only $3.50, 1876.

| NISHlH3ibI, -. ~ Juif = - hFfTt-
sentative Raney Of Illinois tonight
delivered remarkable speech ON The
| tariff, that no only held the galleries
/ keenly Interested. but kept nearly all
! the members in their seats. closely at
1 tentive 10 the pithy sentences of the
| WeCterner His speech dealt mainly
with the watch trust, and his former
efforts in this line were a precursor
of the Interesting exposition of trust
methods that drew large audience.
Representative Rainey spoke in re,
| ply TO Trrell of Massachusetts, Bou-
tell of Illinois and Hepburn of Iowa
Il may not be able. he said. 80 get
the watch trust investigated at this
! time. There are trusts The invest iga.
ton of which does not challenge direct,
| ly the present tariff schedules. An
investigation Of The watch trust made
now would show thal this combination
VIII ch robs the American people in
such an outrageous and high-har ded
manner exists on account Of the fact
that the nngley Iariff shcdules have
made pos ibe its formation and sue.
cessful career
Il intend, however, to present a
large mass of evidence have aecu.
mulated to the Department of Justice
and to inast hat these watch trust
presidents be prosecuted now under
the Sherman law.
"A short time ago when the Post.
aftce Appropriation Bin WAS under
consideration. | disc ssed before the
Committee Of The Whole House the
question of the tariff, urging that The
present protective tariff bad the effect
| of shelering trusts and combinations
and monopoNes that our Industries
were now able to stand alone and had
grown so strong back of he sheltering
tariff wall that they were able 70 send
their products across the sea and com
pete there for The mastery Of the mar
kets of tho Old World
II Illustrated my remarks by REFER
ing to the watch industry in this coun-
try and referred TO certain com
panies engaged In The manufacture OF
watch movements and certain com.
panies engaged in the manufacture #
watch cases as the American Watch
Trust ! insisted that they made one
price for American consumers and an.
other and a cheaper price for foreign
consumers and referred 10 certain
evidence which think proves my con
tentions in this particular.
TN the course Of NV argument |
said that a New York jeweler Mr.
Keene, had reimported all the watches
embraced in his so-called protection
sale, which was absolutely true The
fac is, Mr. Keene. has been in the
watch business for twenty-five years.
handling during all that time both
Elgn and Waltham watches until per
haps two years ago. when the watch
trust refused to supply him. or 20
permit jobbers to supply him. with
any more goods. His principal stock
however. at the present time is com.
posed Of American made watches
purchased abroad"
Mr.. Raney then introduced a mum.
her Of advertisements concusiyely es-
tablishing. he said. the existence Of
The trust
In view OF the evidence I have
produced here" he continued. "is
there any man IN this house who be-
lieves that upon This question a jury
Of twelve men anywhere in this conn.
Try. under the rules of evidence or.
common sense. would believe anything
these watch trust presidents have said
about watches.
Il said nothing in my speech with
reference to either Os these watch
companies being a S10.000. 000 corpora
lion. 7 might with perfect propriefy
call attention TO the Fact that the
American Waltham Watch Company
Is now engaged in the bufiness Of
watering its stock. and that on the
18th DAY Of this month The directors OF
the company met at its home office in
Waltham. Mass. for the purpose Of
reorganizing the company. giving it "a
new name and iseuing $1,000. 90
worth Of ock. an imitation Of $1,000
600. with no perceptible increase in
their visible holdings
Under the laws Of the State =
Massachusetts a corporation Is requir-
ed 10 sic every year a statement Il ls
o sets and the actual value thereof Z
On the 31st day Of March. 1895. the
Officials 81 the WaH ham COMPANY.
under oath, fled a sta emenf of al
the assets Of thai company with the
Secretary Of the Commonwealth Of
u this statement
they showed the yalre u all the pa
(Concludei on Fourth Pags) J