Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1910-05-24


cred into a single corporation the
American Steel Sheet company, the
American Steel Hoop company, the
American Steel Wire company, the
American Tin Plate company. the Fed
eral Steel company. the National Tube
company, and the Carnegie company,
besides several minor concerns. 1t
owns today about 500 plants, railways.
ore lands, coal mines, and other prop
critics. Since organization, it bought
the American Bridge company. the
Lake Superior Iron Mines company.
and the Tennessee Coal & Iron com
pany.
The 1909 report of the corporation
shows that since organization more
than $490,000,0oO of it's earnings have
been invested in new coal, ore and
other lands, in railroads and mills, in
vestments on these accounts last year
alone experimenting s3S,O00,oo0
ItNhad available for di>-idends at the
close of 1909 about $4,000, 900, but it
paid out only s45,500,o 900. Had the
board of directors so desired they might
have paid 10 per cent on all the stock
of the corporation, besides caring for
all charges, and had an immense sur
plus left.
In the last nine years the aggregate
net income of this trust has been in
excess of $616, 900, 900, more than $780,
900, 900 a year. In other words, on the
basis OF the actual value of the prop
critics at the organization of the trust,
the profits in nine years have been
twice this value.
In nine years the stockholders Of the
trust have received in dividends on
added value to the property represent
ed by their certificates an amount
equal to four years wages Of the more
than 200, 900 employees of the trust.
Whence came these enormous profits?
Not out of the stockholders of the
trust, but out of the bone and blood
of the employees, and out Of the con-
sumers of the country in every trans
ported thing they buy.
The defenders of the trust will say
that it took brains to conceive the
stupendous organization of the trust,
to perfect it, to carry it forward, to
maintain 1t. And so, indeed, it did
wonderful brains.
If that were all it took there would
be no complaint But it has taken
away the industrial freedom of hun
dreds of thousands of people. 1t has
reduced to a plane Of dependence 9TH
er millions. 1t has economical the
production Of steel, but it has not re-
duced the prices of steel. 1t has levied
tribute upon the consumer on the one
hand, and reduced the workman to
vassalage on the other. Let no one
doubt that the men back of it have
brains But let no one confuse brains
with conscience, nor business with hui
manity.
1t took brains to earn 500, 200, 900
net a year for the stockholders, but it
took Drawn also. 1t required the labor
of the quarter million underpaid, over
worked, ill-nourished, broken and dis
eased. It took as forfeit human lives,
and health, and hope, and peace.
Now comes the probe Of the investi-
gator-the voice of humanity raised
against injustice, the protest of flesh
and blood against the sacrifice OF the
thing most precious on the altar of
this moloch of greed. Perhaps the
protest will avail little now, nor secure
to the workers a larger share of the
fortunes they are producing for others,
harnessed as they are to their jugger-
nauts. But the day is not far off when
the protests will take on the proper
tons of a storm, and there will be
awakening to the inhumane folly of
permitting a few men by virtue of
their riches to order the lives of hun
dreds of thousands to exploit their Ia
Dor and write at pleasure their death
warrants.