Arizona republican., 1908-06-03

was in process of formation to step
 in and take the place of the big cash grain interests of the exchanges and dictate prices to producers. This was to be launched as soon as the Hatch bill became a law. It never became law, thanks to a campaign of ed ucation started by the leading ex- changes and the exposure of the trust scheme back of the Hatch bill. The subsequent war on the bucketshops
 which now has reached the knock out stage. showed the public clearly
 that bucketshops are but the para sites, living on the credulity of would
 be traders initiating outwardly the appearance of legitimate brokerage
 or commission firms. while really
 fleecing their customers by getting
 them to bet blindly on their game.
 McIntyre's attempt at trust in
 breadstuffs. the later and possibly
 greater trust promotion. was under
 taken in 1898 Thomas A. Mcintyre
 had previously promoted some won
 derful enterprises and had the back
 ing of Wall street millions. He
 tackled the creation of a flour trust.
 With $150,000,000 back of him. he set
 about getting control of the big mill
 ing concerns in Minneapolis. Superior,
 Duluth, New York City, Milwaukee and Buffalo. The Northwestern Mil
 Ter. the greatest exponent and de-
 fender of the flour and milling inter
 ests on the continent became the champion in the fight against the
 formation of the gigantic flour trust" if fn lfn through the daily press. The oppo- sition to the formation of the trust
 was genuine and based on the be-
 lief that it would destroy the inde- pondence and integrity of the great
 milling plants, that it had no under lying financial soundness, that those Y hD taok stock in it would soon reap heavy losses and that the whole un- dertaking would finally end in a col ossal failure.
 For some time it appeared that Mr. Mcintyre would be successful despite all opposition" the North western Miller says in explaining the chief reasons why the Mcintyre flour trUst did rot live. His attempt to gain control of one Minneapolis plant bv securing the English stock failed. local interests secured the Philadelphia holdings of another large Minneapolis establishment and grad ually the opposition crystalized and became more effective. In April 1898. the Mcintyre interest had se- cured the New York mills, a mill in Buffalo, another at Syracuse, prac- tically all tie plants then at the head of tle lakes, two mills in Milwaukee and one of minor importance in Minneapolis. The United States Flour Milling company was then formed with capital of s25,000,000 and a bOnded indebtedness of $15,000,000."
 1t is then related that subscrir- tjons to the flour trust securities Jagged and a year later ceased al together. py the summer of 1899 the trIst was top-heavy and tottering. In 1900 receivers were appointed for its property. The properties were reorganized, with MT. Mcintyre left out and his resources badly exhaust ed. The closing chapter of the story runs thus: Practical autonomy of the various plants under local man. | agement was established and with | greatly reduced capitalization from llldl WHICH hSlHtyIe pldiiiicu. IheSe l individual mills, or such of them as | were intrinsically valuable and prop | erly equipped and situated. have | since proven satisfactory properties, | without any more influence | as a whole upon the price of flour | than the ordinary independent mill"
 In the light of these stupendous | and attempted combines | to secure a grasp on the wheat mar kets of this country first and the later effort to paralyze the natural milling interests of the continent, the public. the producers and the law makers will not take very kindly to any fresh efforts in. this direction, | either by daring promoters like Me Intyre, or politicians following in Farmer" Hatch's footsteps.