The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-09-15
Pacific and OF an Influential interest

Pacific and OF an influential interes
| In the other Pacific roads. This pro
cedure WAS publicly known. Tn
| presldert knew OF II. the whole worl'
knew Of II. II proceeded without OF
ficial hindrAnce. and In the succeed
/ ing year the published report of tn
| Union Pacific Railroad showed thn
| its purpose had been carried into eff
feet. resulting I'm the acquisition o
/ Union Pacific over the entire Southerr
/ Pacific system, also that an influentta
interest had been acquired In two more
OF Its Pacific coast competitors, bu'
this unifcation Of control and con
sequent destruction Of reasonabl il
competition had been accomplished &c
such an extent that we shortly founc
the Union Pacific doubling its earn
ints upon a bare increase Of less than
one fourth OF the traffic handled
We find that its vast volume OF
common stock, from which the corpor-
alton had not received an average OF
ten per cent Of its face value, had
risen In the markets of the world to
over one hundred and seventy per
cent of It's face value.
We find IL receiving in dividends an
nually u sum equal to the entlre
amount the corporation had ever re-
ceived for It's issue. and at these prices
MI. Hartman and his associates, who
promoted this combination. acquired
their vast fortunes. running into the
hundreds Of millions of dollars. not
from a legitimate Increase OF prop
eTty values, but from sudden initiation.
the result Of destroying competition
In the presence OF presidential silence
We find that the estates OF Invest
ors the widows and the orphans oil
the world. attracted by these fabulous
earnings had become the innocent
holders OF these watered stocks at in
fated prices and today we confront
the problem shall the shippers OF
America forever pay rates to proNiue
ten per cent dividend on such capi-
talization or shall these innocent In
vestors suffer loss?' What could have
been prevented by presidential activity
in 1901 and 1902 caniAt be corrected
today by simple declarations of regret
or expressions Of sympathy for the
public which bears the burden.
INDI sTRIAL MONOPOLY.
Colonel Roosevelt became president
I'm September 1901. We then had
among the multitude of iron and steel
states more than one hundred of suf-
ficient magnitude each in itself 10
provide reasonable competition and ar
ford the consumers II reasonable op-
portunity to supply their necessities.
A protective tariff already enabled
these home Institutions to levy tribute
upon our people, and what was then
mammoth capitalization OF Few mil
lion dollars for the largest, had grown
largely out Of legislative favoritism
but the WAYS and means to sudden
riches of fabulous volume were nat
urally availed of by the consciencel ess
financier and a helpless public could
depend alone on the vigilance or theli
high officials A protective tarifi
sitting the competition from foreign
lands had fattened our infant Indus
tries until competition at home threat
ened to relieve our consumers OF un,
Just burdens and on the eve OF Colonel
Rooseyelts entering upon the presl'
dency. the United states steel company
was barely projected to the end ina,
this aggregation of lusty infants migh'
be moulded into one vast glutton al
home, and by thus consolidating anc
monopoliZing this important Industry
forever levied upon the American peo'
pie tribute for this perpetual proflt
and we note that the first three years
OF President Roosevelts admlnistra,
ton witnessed the consolidation ant
Absorption of about one hundred anc
TWENTY-FIVE Of these leading industries
into single corporation, nation wide
with "a capitalization of fourteen hun
dred and forty millions OF dollars race
value. where no intelligent man II
our country today viii contend tha'
e-tourth OF this amount was rrnr"
/ scented by actual investment or money
or actual property values, Yet
was then contemplated. and mas eVe1
ers of iron and steel in our country
must pay prices that provide the year
ly income on this mammoth capita
OF more than four times the actual IN
vestmenL and to entrench this monster
against the possibility of competition
few years later, and still undel
President Roosevelts administration
the last remaining competitor or SUP
stantial magnitude tthe tennessee
Coal and Iron Company was absorbed
hn IanragsiOna of "A mdnUfaC
tured panic, not alone by the slIeh'
consent. but by the actual approNa
of President Roosevelt Ana now &c
we find these conditions at the close
OF the Roosevelt administration? lror
ore. the leading natural resource oi
our people that should have been con
served for the public welfare, the pro-
duct OF which is found a necessary I'M
plement in the hands OF every mar
who toils-the hand that holds the
plow. the hand that wields tho nam
mer, the hand that shoves the plane
must all utilize this product OF ma
ture God. in his bounteous Kindness
never intended these ore deposits foi
the United states Steel Company
alone. but intended them for the hu'
man family in general.
what other means OF protection hac
the people of this country against the
usurpstion of these products OF ma
ture other than the vigilance OF pubic
officials high in power? In september
1901 these ore lands were still largel,
owned either by the government itseli
or in part. by multitude OF people
In the seven and one-half years OF
that administration we find that the
available supplies OF iron ore nave
passed largely into the ownership OF
the lease control of this single mann
moth corporation, so that what was
hut a few dollars an acre in marker
value in 1901 is rated now at thoussnds
of times that value and computed oy
the single ton. II conservation OF our
natural resources is due our peo-
ME today this all important resource
should have been protected before II
was monopolized. The verdict OF the
great American people today may be
that the present declarations OF Col
Ronsevelt are from heart and mind
fuu Of sincerity. II that be true. we
are left solely to regret the scales had
not fallen from his eyes few years
earlier.
COLONEL ROOSEVELT NOW DE
CIAREsi
THE use OF corporate funds. directly
or Indirectly, for political purposes
must he proSibited'
This doctrine in the promotion OF
honest government is neither new
nor novel 1t was contended for in
1893 bv others and condemned by
Roosevelt It was contended for at
every recurring congressional % pres
td.ntiaI election From that time 10