The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-04-19
RAILROAD LABOR
ECONOMIST LAUCK
BRINGS CHARGES
CAPITAL COMBINE
IN HEAklNG BEFORE L. s. RAIL
ROAD LABOR BOARD: SAYS
COMBINE" HEADED BY NEW
YORK INSTITUTIONS.


YORK INSTITUTIONS.
Chicago, April l9.-Charges that
capital combine headed by II New
YORK financial institutions lnaugurated
policy Of nation wide shut downs, was
haue today before the United States
railroad Labor by w. Jett Lauck econ
oInist for the unions which are fighting
any reduction in hearings before the
United States railroad labor board.
Mr lauck named about 100 men who
through inreriockng directorships. he
claiH1ed, centered in these dozen insti-
tuuons control of the majority of the
country'S important railroads. and of
paSIc raw materials. die charged that:
rms inter related capital group de-
hDerately deflated the farmers and
then undertook by precpitating indus
trlal stagnation, to deflate labor"
The railroads. he asserted. were the
CHOSEN vehicle for this labor drive.
Layofts of repair men on railroads in
recent months. he charged, were made
deliberately, while much of the reuair
work was let TO outside companies who
charged the roads about twice what the
same repairs would have cost in their
own shops. One purpose, he said. was
TO get this portion Of railroad labor out
oil government jurisdiction by forcing
1t TO work for the outside concerns.
These concerns. he said, were largely
under this same financial control as
the roads
The document that Mr.. Laucl, pre-
senled made about 125 900 words. 1t
was prepared by the American Fedora
ton Of Labor Bureau of Research. Rail
way Employees Department. and en-
| Titled. Human Standards and Railroad
Policy"
The dozen New York financial insti.
| tutions as named were:
Mutual Life Insurance Company of
New York.
First National Bank.
Equitable Trust Company.
j. +. Morgan and Company.
Guaranty Trust Company.
Equitable Life Assurance Society of the
| United States.
American Surety Company.
National Surety Company
Mechanics 4 Metals National Bank.
National City Bank.
New York Trust Company.
Chase National Bank.
Mr.. Lauck charged that these banks
had directors in 92 class one railroads.
and in 20 railroad equipment compan.
les, that their directorships reached "a
coal railroads and coal companies. and
that through non-banking directors this
alleged capital combine was still fur
ther interlocked. Mr.. Lauck summar-
lied the report as follows:
The evidence shows there is u capl-
tai combine consisting Of the major
banks, the railroads and the industries
controlling basic materials. and that
TINS combine has and exercises a power
over the economic destiny of the United
States. 1t shows that within the iden-
teal capitalist group lies the power to
ADJUST or misadjust relative prices in
Il manner that will stimulate or sup
press Industrial activity. 1t points out
that this focal capitalist group has de-
hberately maintained high prices OF
steel. coal, cement and other basic ma
tcrials and that the railroads. financed
4 by the same interests, have refused 10
place the orders for plant maintenance
or even the orders necessary to prevent
plant and equipment deterioration.
THE exhibit shows that the greater
factors in American industry. the rail-
way equipment producers. the railway
repair works, the steel interests. the
coal. cement and other basic material
producers-all are closely bound to-
gether by intcrcapital relations and In
terlocklng directoratcs. coming to focus
In the House OF Morgan
The Railway Employees make no is
sue as 70 the propriety OF centralized
system Of economic control. The point
OF the exhibit is Us challenge Of the un
considerable misuse which the great
combine has made OF It's power. Tn,
employees call attention to the national
responsibility which the possession Of
such power entails and note that thi,
responsibility IN the ease OF the rail-
way Industry has been recognized ant
written into the Federal Laws of III,
United states. and the employees speci.
iically point out that this responsibility
is being unscrupuously evaded.
The railroads are pleading poverty
The banks are making Unprecedented
profits and declaring unprecedented di
vidcnds and the same applies to steel
coal, railway equipment ana similarly
situated concerns. The capital combine
In preparing to precipilatc unemploy
mcut adopted the policy that the rail
roads should do II first Railway i'm
provcmtnt programs were deferred
railway maintenance was reduced be-
low minimum legal requirement.
The report brings into clear relic
the fact that there is no foundation fol
opinion which the employers publicity
machinery would popularizc that IN,
railways and the other great lndustre,
are the victims uf some misfortune o
the times.
"rhc Industrial paralysis which ha'
staggered America Is capital on strik,
against society And capital. nation
ally and internationally organized an,
concentrated, takes the stand that tn,
capital strike shall go ON until Labor
comes to its Knees and consents Z,
sweeping reductions OF wages. and ais,
consents to surrender its right to bar
gain collectively on "a scale co-extensiv,
with the organization of the employ
! crs."
Taking mp first the lay off charges tn,
report presented by Mr.. Lauuk sal,
that Railroad shop layoffs. incomplete
In the past nine months were more thar
1893 goo