The Farmville herald. [volume] (Farmville, Va.) 1890-1934, 1907-04-05

The Norfolk Nrsiuian-Pilot has the
following dangerous editorials
Moody, Magazine furnishes a start
/ ling exhibit of The profits OF monOpo-
/ ly in reviewing The operations Of the
American Tobacco Company from its
small beginning sixteen years ago.
The corporation at the start owned
merely half dozen factories in New
York and Virginia. Since then by
successive processes Of absorption and
consolidation 10 has acquired or con-
/ trolls various other concerns with an
aggregate capitalization of one hun
dred and fifty millions of dollars.
Among these are the American SNUFF
Company. American Cigar Company,
American ~t0gie Company, lnterns-
tiOna. Cigar Machinery Company,
characterization Company, Havana
Tobacco Company and Brit sh Ameri-
can Tobacco Company. The stock Of the
parent company was fixed In 1890 at
twenty-five millions, Of which ten was
preferred. Common shares at a par
value of fifty dollars could be bought
in 1893 at S2i.5O per share, and a puI-
chaser then of one hundred shares
who has chung fast TO his holding has
received up 10 the close Of the year
1906 nearly ten thousand dollars in
cash dividends, and 10y stock dividends
and privileges now possesses securi-
ties of a par values of tWenty-fOur
thousand dollars, yielding an annual
mc0me0f twelve hundred dollars. All
this upon un investment thirteen
years ago of twenty-0ne hundred and
ifty dollars.
That there have been any equivalent
benefits TO the public at large by i'm
pr0vement in the quality or reduction
on the price of the manufactured prod
ucts viii scarcely be claimed by any
one cOnNersant with the tobacco trade.
That hardships have been worked to
the planters by destroying competition
M the leaf market VIII scarcely be de
MED. The evil wrought by such a
monopoly is that so large a proportion
of lbs vast profits is reaped at the ac-
tual expense OF the growers Of the nat |
ural product.
We are surprised and shocked at |
such utlerances as these, especially at |
the last Iargiaph, which reaches a
climax almost bordering on incendia-
rism and anarchy. The farmers Of
Southside Virgin ia have been told for
years that the American Tobacco Com
pany and the Reggie buyers were their
warm friends. They are told that
now by tobacco buyers, warehouse
men, commission merchants and by
al them that do industrially toot the
norm Of insiduous purpose and call it
me horn OF pea and plenty.
And then comes along the Virginian-
Pilot and encourages farmers in their
.bsurd belief that they are not getting
. square deal; encourages them to try
% organize for better prices, when
bat the farmer sees clearly
hat the farmers are making so much
money on tobacco that they are get
ing into lazy and luxurious habits;
them to suspect that for
very farmer that works the land,
NO people are working the farmer.
It is too bad. But we take this oc-
aston 20 solemnly warn the farmers
hat they should not listen to such
ak rs this of the Nirginian-Pilot.
every farmer ought 10 know that he
, getting a square deal, because there
8 somebody at every street corner
elling him So.
The farmers of Souths.de Virginia
re making money on tobacco i'm the /
anne way that the lrishman made {
)rtune on his groceries. lie bought a
rge amount Of groceries aud sold
rem at one-half cent less per pound .
lan they cost. Some one asked him I
ow he could afford TO do it. "Faith,n {
aid the Irshman, "it's because | sell |,
, many Of them" THERE'S this diff .
renee, however. The lrlshman sold 5
is groceries voluntarily at a loss.
he tobacco farmer, being at the mer-
? Of the buyers. is forced 10 take less S
n his tahaccO than he ought TO get. Il
/ 4