The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-10-26
SORRY THEY DID
NOT SUGGEST PLAN
TOBACCO TRUST MAGNATEs ARE
CREsTFALLEN AT FAILURE TO
INVENT IDEA.
1T INSURES MONOPOLY
THINK ATTORNEY GENERAL MADE
EXCELLENT PROVISION FOR
THEM-IS A ROARING
FARCE.
az THOMAS c. sHorWELL

NEW YORK, Oct. 23.-Not until
after the stock market had closed to-
cay was it known generally in the fl
Eaneiai district that the steel trust
directors would hold special meet
ing to- morrow. All efforts to dis-
cover the reason for this special meet
ing were fruitless. The most that
could be- secured was an admission
tLat it would be held The stock
market Just now is 80 largely pro-
essional that to-days baseball game
reduced II TO purely nominal affair
in the afternoon. With the exception
of weakness in American Cotton OH
and Republic Iron and Steel shares
there was 10 movement worth con-
sideration. Trading was so light that
fluctuations IN standard issues might
he construed SO 10 support almost
any contention one might care to ad
Nanoe.
The opposition plan Tor dissnlvirg
the tobacco trust developed a new
lnanorist in the person of Louis u.
Brandies, attorney for the sherman
law conspiracy of Independent tobac-
GO dealers and author of the celebrated
joke about how To make q bricklayer
nns re Hs 5iecting him to
Acient;nc nanag ement -
..~---- ..---i proposed to-
day ns the Independents provides for
distribution OF the assets or this to-
bacco trust by giving each stockholdof
his pro rata valuation allowed in the
stock of one company and forhidding
him to buy the stock OF any other
company for i've ysras.
Tho insiders of the tobacco Com
pans are completely cres,fallen pe-
@aeGse they did not think OF this plan
first Tor 1t would perpetuate the trust
by giving 10 each OF the leading uo-
fer dants absolute control OF one or
another OF the companies in ques-
tiGn.
Is Roaring Farce.
1t is not likely that the courts will
Wiling the insiders may be to substi-
tute it for their own. The plan does.
however. furnish the final argument i'll
proof of the contention that trust
busting through the civil courts is
roaring farce. With Thomas r. Ryan
in absolute control OF one branch of
the tobacco trade, as he would be
under the independent plarA and with
j. h, Duke in control Of another. and
50 on down the list OF lively nine
tobacco magnates. the independents
would get IA new brand OF competition
that would surprise them. Under the
Independent plan 1t would require
only one twenty ninth AS much con-
spiracy to continue the tobacco trust
as under the official plan
The special meeting of steel trust
directors naturally caused considera-
bic alarm. Although - LendeH WAS
closed before the news was made pub
lie. arrangements were made In many
quarters to dispose of stocks abroad
early in the morning. 1t is supposed
that the steel trust directors will con-
slider at n,orrow's meeting resigna-
tions of one or more directors and
perhaps the question OF giving up the
Tennessee Coal and Iron Company will
be discussed. The Great Northern
Ore lease Is possibly another reason
FIR the meeting.
A new set of sherman law conspira-
tors will probably he exposed by the
government in the near future when
the jobbing conspirators are prose-
cuted as they must be under Presi-
dent Taft's order to enforce the Sher-
man law. Each important industry
OF the country has a jobhing trade and
these jobhers are organized into CON
spiracies as the result Of which they
demand from manufacturers certain
Percentages for handling their out
put. The rubber jobhevs for instance
demand and receive dis, ITS from
tho list prices of about sixtett. per
cent. Jobbers in shoes, cloth and
other manufactured articles not only
have fixed percentages at which man
afaaturers arc compelled 10 sell to the
trade, hut they have organizations
that enforce the payment ~ these
commissions so that y manufacturer
does not dare dickef with Individual
inbher,s.
Humorous Strain.
President Melisn, OF this New Haven
Eaili DAD, announced that the road
would continue to pay eight per cent.
diyjdends and accoMpaniea this de-
slaratiop with an expreasiop II opin-
ION that the outlook FAR railroads In
general is not enc0urAxing and mary
of them may be operated by the courts
In the near future. The New Ilave,.
publictty department has developed .
l.umNons strain in recsrs months bna
this announcement ~ railread reeeir-
ealhins. did net saSale ,9xn street S
berg particularly funny. Mr.. Mel
len Il expected to say t-at he didn't
say II.
Number of sales sold to-day. 22I:s3
shnres. year ago. e5i,6l2.
i'al value af bonds soil TODAY, ST.
- IN q .S@a VAR agO.s ~ 4. 400 a<s n