Los Angeles herald., 1910-08-13
BR|STOW RIDDLES
ALDRICH'S REPLY
ON RUBBER TRUST
Senator Delivers Address at Mil
Waukee Answering Framer
of the Schedule
ALL PRICES ARE ADVANCED
Shows That Trust Did Not Need
Added Duty for Protec-
ton of Industry
Ill PRICES ARE ADVANCED
ASSOCIATED Press)

'AiAA w "A CIN14I11 <AdS' lA' h|NAAS'SCA ~
seph L. Bristow of Kansas, in his
speech here tonight, which he stated
was in reply to the letter of Senator
Nelson w. Aldrich, defending himself
against the charges Of the Kansas sem
ator relating to the tariff on rubber,
i launched into the subject by saying:
Senator Aldrich declares the Inter-
continental Rubber company is not
trust, and at the same time admits
that it is a holding company"
Senator Bristow then took up Mr..
Aldrich's declaration that neither he
nor his family. had profted directly
nor Indirectly by the tariff on manu-
factured rubber saying:
Yet he admits he is producing mill
lions of pounds of crude rubber per an
mum, selling it to American manufac-
turers, and that he increased the duty
on their products when they did not
need it for protection"
Then referring to his own speech at
Winfield, Kas., on July 9, Senator Bris-
tow declared Mr.. Aldrich took exception
to his remarks on the rubber duty es-
pecially.
HE ignores the other features of my
speech" Mr.. Gristow said.
ORGANIZING COMPANIES
Going into the question of organiza-
tion of the Inter Continental Rubber
| company, Senator Bristow quotes from
/ his own speech, saying the Inter-Con-
tinental Rubber company was organ
lied in New Jersey January 20, 1903,
and that the Continental Rubber COM
pany of America was organized in New
Jersey January 5, 1906, and further
that Mr. Aldrich says "the first two
/ companies named were subsidiary COM
panies of the Inter- Continental Rubber
company and that it owned all their
stock and that they were organized for
the sake of convenience"
Mr. Bristow asked How could they
be subsidiary companies of the Inter-
Continental and organized for its con-
venience, when both of them were or
ganized before it was?"
Senator Bristow's speech, in part,
follows
"Mr. Aldrich declares the Inter-Con-
tinental Rubber company is not trust
and at the same time admits that 1t is
a holding company that controls nu-
merous subsidiary organizations that
were organized for the purpose OF
| handlinng the crude rubber business in
various parts of the world.
DID NOT NEED DUTY
''He says that he nor his family has
profited directly or indirectly by the
tariff on manufactured rubber; yet, ne
admits that he is producing millions
of pounds of crude rubber per annum,
selling TO American manufacturers, anu
| that he increased the duty on their
products when they did not need it for
protection, and when they already had
| control of the American market and
were exporting manufactured rubber;
that is, he increased the duty, enabling
manufacturers to advance the price to
| American consumers, and admits that
they did advance the price, yet he says
that he nor his family has not prohted
directly ar indirectly.
"He admits that dividends had not
been paid before the consultations of
the various companies into one, ana
that after the consolidation enormous
dividends were paid, as stated in my
speech.
"In my speech at Winfield, Kas., July
9 1 criticised the tariff bill, referring
| especially to duties on lead and lead
products, cotton cloth and woolens'
! especially referring to duties on cotton
cloths and manufactured ruoper'
said these duties were fixed, not in the
interests of the people. but in the in
terest of certain trusts, combinations
and spectators.
ALDRICH'S EXCEPTIONS
"Mr. Aldrich, in signed statement,
| takes exception to my remarks on the
rubber duties. He ignores the other
features of my speech. He also made
a number of sarcastic references to
| myself and other RepuDlcaH senators
who saw fit to vote in the interest of
our constituents, rather than as Mr..
Aldrich wanted us to. His opinion of
myself and the other senators Is OF
little consequence, but 1 desire to call
special attention to some of the state
ments of Mr. Aldrich, made in his
explanation. He says: TT is true that
an increase in the rate took place in
paragraph 463 which includes certain
manufactures of India rubber with
other items, and it is true that I am
a stockholder and director in the In
ter Continental Rubber company; but
none OF the other statements referred
to contains a single element of truth
Now what were the other statements
made? 1 stated that the Continental
Rubber company was organized under
| the laws of New Jersey, January 29,
| 1903; that the Continental Rubber COM
! pany of America was organized under
! the laws of New Jersey, January 5, 1906,
! and that the Intercontinental Rubber
| company was organized under the laws
! of New Jersey, December 6, 1906.
! "Now, Mr. Aldrich says the first two
companies named were subsidiary COM
| panies Of the Intercontinental Rubber
| company, and that it owned all of their
stock, and that they were organized
| for the sake of convenience. How
could they be subsidiary companies OF
the Intercontinental Rubber company.
and organized for it's convenience, when
both of them were organized before it
was-one of them almost three years
before?"
n--nan-o 70 HAD pAkII<