The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-11-24

up the stock Of the holding company ID
that each stockholder would have pro
pertionata share Of the stock OF each q
the thirty-four companies did not alter TIN
ownership OF the trust in the least TM
Government should have insisted that n
stockholder could own stock in more thai
any one OF the thirty-fouT companies, and
there should have been a readjustment o1
the stock so as TO make this possible. And
in order TO prevent any men holding stool
in other companies through dummies, "a
Injunction should have been issued to pr8
vent 1t, and it is safe TO assume that veTy
few Of the Standard Oil stockholders woul4
have taken chanse Of violating the ID
junction. With the thirty~four companies
owned BY different stockholders We might
expect some competition.
Once the dlfarent companies OF trust
have been started in competition there ce1
not be any new amalgamation, for the sds
vantages which led TO the first trust for
nation were due to causes other than ef-
hcient management. and these causes, mos
Of them unlawful, no longer exist,
In the formation of the Steel Trust MT,
Carnegie was given a bribs Of $250,000,o00
more than his property was worth, and tno
other companies competing with CaTnsste
at the time had to do this In order to get
control OF the steel business; il they dtdnt
get control, most Of them would have been
wiped out by Carnegies competition The
Steel Trust, by the control it secured. hS9
virtually robbed the American people o.
more than s650,000 900 during the last tan
years. 1t took hundreds OF millions q
dollars ont Of the pockets Of investors, ana
not q penny Of this vast amount was e7dr
put TO any use in advancing the method9
or improving the properties OF the corpo'
ration. II was a mere graft that went 20
the founders of the trust.
Any man who has little capital snd'
understands his business can suocesstully
succeed against any trust, because he viii
be more efficient in his management than
1t is possible for the trust to be. He VIII
succeed providing the trust does not Use
Unfair methods In driving him out
The improvements which may be inr|
duced by competition are we'll illustrated IN
the paper business, During the past dozen
years the cost OF wood has greatly IN
creased, and so has the cost OF labor. yet
the paper manufacturers have more than
balanced this increse by devising new ana
better methods Of manufacture, and to-day
paper is much cheaper than 1t was fifteen
years ago. when We might expect there
should be a great increase in the price
The output Of oil has increased trenens'
dously, and the raw material is cheeper
now than ever, yet the Standard OIL CON-
pany has not made any reduction In price
comparable to that Of the paper compa'
MES.
The new form OF business Organization
will make the development Of it's employee
as much a part OF its work as the making
OF its product The first duty Of every man
is to see that he develops his best powers
10 their utmost. and we are gradually COED
ing to a period of business life where IL
will be possible for man TO do this. Il
We should not pass any laws at ne
present time affecting trusts. but sLodld I
devote the next few years to investaga
tions which will give us data on which 10 /
base future sensible laws that will lid 10
OF the bad features now present in trust
formations. Meanwhile let us eacI Ia
crease ou. own individual efficiency Ia
our business and In our household man
agement