'-
OCTOBBIl 14, 1910
t r i
kl'A t
The Commoner.
15
knowledge; constitute any violation:
at Ue -law, although, If tjiis acqulfll-.
tlon .had heen preceded or should
W folio wed oy other like acquisitions,-
It might bo relevant evidence,
combined with other facts, to show
a Violation of the statute in ques
tion." Having this assurance that the law
would not be enforced against them,
ihe allied interests, which Mjnd only
& short time before been at jogger
heads, had carte blanche for carrying
out the most stupendous legal steal
of: this century.
The Tennessee Coal and Iron com
.pany'had been hammered until it
was in a bad way. Deserted now by
Rockefeller and with the large orders
of" Harriraan canceled, stocks wero
down, to riothing. 'Practically the en
tire holdings of 'the southern com
pany were bought up for $632,65.5
.cash and $34,684,990 of bonds. It
is said Rockefeller's profits on the
transaction amounted to $45,000,-
ooo,. or more than all that was paid
for the property!
The property embraced 450,000.
acres of mineral lands, including
forty-one developed mines, sixteen
blast furnaces; control of several i
land companies owning extensive
land properties in various parts of
the south; and. terminal facilities of
great value. They were considered
dirt cheap at the price paid, in view
of the fact it looked to controlling
iron and steel for all time to come.
At the same time United States Steel
bought the Tennessee company's
lands, to still, further secure monop
oly of steel, it leased the mineral
properties of the Great Northern
Railway company but Hill, being in
good shape financially and in on the
deal, made terms advantageous to
himself. He .secured $1,65 per ton
for iron ore, with additional under
standing, that jit vas. to be shipped,
over the Great Northern? tho- whole
contract bringing to him some $850,
000,000 in installments. But the
Tennessee .company properties were
acquired for $80,000,000, including
Rockefeller's "divvy." Morgan de
clared after the deal was made, that
they were worth at least a billion!
The steal therefore amounted to the
incomprehensive sum of over nine
hundred million dollars.
This steal, creating a monopoly of
steel for all time to come, was, as
has been stated, contrary to the in
terstate commerce law. Only Jan
nary 4, 1909, the senate asked the
attorney general to state why he had
taken-no proceedings against the
steel trust because of the transac
tion. The president (Roosevelt) re
plied on January 6, 1909, that the
attorney general would make no
statement of his reasons. The senate
judiciary committee thereupon began
an investigation, and four of the
committee wrote:
"As the letter of the president was
addressed to the attorney general,
who is expressly and exclusively
charged with the duty of enforcing
- the act of July 2, 1890, on behalf
of the public, Tcnown as the 'Sher
,man anti-trust law,' we think it was,
in effect, a direction to the attorney
general not to interfere, but to per
mit the piyjposed purchase and ab
sorption --to be consummated if the
parties interested desire to do so.
Moreover, the letter to the attorney
general shows that tho legality of
the merger was discussed and that
the president gave the representa
tives of the steel corporation who
visited him to understand that the
action proposed could be taken if de
sired. It was not until this under
standing was telephoned from Wash
ington to New York City by one
of the representatives of the Steel
corporation to another representative
there, that the purchase and absorp
tion were made. In our opinion the
president permitted and sanctioned
the acquisition and merger.
Among the larger benefits which tho
Steel corporation derives from the
merger are the control of the open
hearth output of steel rails, tho ulti
mate control of the iron ore supply
of the country, the practical monop
oly of tho iron and steel trade of the
south, and the elimination of a
strong and growing competitor.
In our judgment, the president was
equally authorized to direct the at
torney general,' as wo believe ho did
in effect, not to interfere and not to
enforce tho law in this instance."
Every senator on the judiciary
committee agreed that the president
(Roosovolt) was not authorized to
permit tho absorption of tho Tennes
see Coal and Iron company by the
Steel trust. The committee reported
in brief, that "tho dispensing-power
of granting, immunity con
ferred on a mere, bureau head
without noticje or hearing and wholly
ex parte" was "a course of proceduro
that would not be tolerated In any
court of our country."
Yet nothing was done about It.
The steal had been effected, and the
man responsible for it is now ac
knowledged to be the big boss of
the republican party and the self
constituted adviser of the world.
It Is believed this is the biggest
single steal in history. There have,
of course, been other steals running
through years that aggregated as
much as this, but this was accom
plished within a few days, and by
design. The land held by the Ten
nessee, Coal and Iron company had
been obtained by grants and by pur
chase at small prices, which involved
a swindling of the people out of it;
but this was done through many
years instead of at one time. The
men who were deprived of that which
they held and which jeally belonged
to the whole people are not especially
commiserated. They reaped as they
had sown. C. L.. Phifer in Appeal to
Reason.
GENEROSITY
Tho Backer "Go it, Billy; yor
ain't half licked yet."
Tho FJghtor- "Woll, you come and
'ave tho other 'arf. 1 ain't greedy!"
Tit-Bits.
A TER1UBLE THREAT
Immaturo Conductor (to clarinet
player) "Sco hero, Herr Schlag, why
don't you follow nly beat?"
Veteran Clarinet (solemnly) "If
you don't look owld, I will!" Puck.
POST EUGO PROPTER
"I sent a poem to that magazine,
and now I hear it has failed."
"Tab bad. But maybo they won't
sue you for damages." Atlanta Constitution.
tho Hmallost girl in thecla ftlpetl
up, "Un'crwaro is what you takes oft
before you puts on your nightie."
Lippincott's.
BEACON LAMP
A WINGED TRIBE
"My ancestors caiiio ovii'r in tho
Mayflower.."
"That's." nothing; my father de
scended from an ' aeroplane." Life.
ABRAHAM'S PREDICAMENT
Tho Sunday school class had
reached tho part in tho, lesson whore
"Abraham entertained the angel un
aware." "And what now Is the meaning of
'unaware?' " asked the teacher.
There was a bashful silence; then
OH
ILBBbVu a JLiiiiiifll
KY
Kwl
BURNER
FREE
lr4t. 100 Cm44 Vfr. knmr
(txuiutm cent pit r MHr JlM !.
(a. !rlriritr or lit tiditf Umjn tu4
ilbUtanttulUlhmHt,tVtriU)f9 UnwiutU.t tit fln wwlnf nr rtMttit
costs oftiY omc coir rat six mm
Wa mill una txruMi In Mli tunfilv
Zvlnmx Hrsn rfr nw ttituourrt, Tl
J-;1f(U( of orptltcfrar to rtir
iuO K. C. life Ms, MM Cltf, M
Don't Wear a Truss
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'DlTB iaeafally trta4 ibmlr !!
1:, I yplj-lmnytrfUt. FlKfMof fnr If nrtrl.
IB I rue mi IDIA rk;wiiitliiiii1itillMiiw
nlAL Or rLArAU hiufir unit, wriu (.
Miptio nl wail T8RAT. AddrrM
LAPAO LABORATORIES, Ulock 54, SI. Loult, Me.
"am .,,,
lid rets.,. ,, ...,, ......,.,,
Rrwra mall wilt brine fr trial IMar... ...... ..,..,
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1
Missouri's gain in population dur
ing the last ten years is G per cent.
Candekiro's Curio Store
Earnest in United Sidles. Indian XtlanJsetH and
Curios, "Wholesale and Retail Dealer, ,
: : : Send for Xriecs : : ; . . Jf
301-3 San Francisco St., Santa Fe, N. M.
DONT PAY TWO PRICES FOR STOVES RANGES
HY N00SIER STGfES MB MXIES AT FACTOXY riKEJI
g Ym Savi $11.11 to $22.11 in a Rant or Bast law.
4tOl SAVE ENOUGH ON A BINQLE STOVE TO BUY YOUR WINTER.
FUEL." Read About Our Remarkable Stove Improvementg.
nuance rclldff Why not buy tba 1
rAoor. OOCP TonrowahatneSOday
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Wbrsot bay the beat whea ran nn bur them at BtJch loir, asltaar&eff
factory I'rlcew. Ifooeler Ktorea and Kancc aro dollrcred for ion to um taa
jronrowBliemeWdaya Tree before you buy. Awrlttau euarmQteewlta
store backed by a Mlllloa Uollara. Our new lfill ImDroretnenU ontlortt
folutQiyNiiwMaay UiIdk eyer produced. ! aesui today far frae aala4aa
Mirt Thin Ten lhcuni Ltiit x Likt Uilm totom
SATES $20.00 70 $30.00
JUhTllIe. K.Y. Gwitlawea With to aay that X aa
iiSHiea wits my iieeaierjutnea. J a
rood beater, a fine iMker. ana take tbe
least fuel of any atova I bare arer ased.
Iflnd 1 1 exactly trbat yoarepreeea ted a ad
aa rood a etove aa ray neighbors ba
t bat cont e . and .o9 more. Wll I ppealc
m food word f or y oa at erery eaportaoi ty.
Tfoura truly, SUM K. A. Card.
SATED EMTUE WINTER'S FUEL
Mt.Morrbj.IIL HoMler6toyoCo.,Mar'
lron.Iad.( (lenUamt Tka llooalerliteal
and Uooeler 1'oeta Kaaa BUraer wblch 1
ordered from yotLbut Valt are aatlefac
tory la ercry way. Uave taken plenty of
time to elve ttlea a tbordugh teat and
find they are all you claim for tbem.
Kayed more than eaoucb to buy my fu el
for tbe winter by ordering toy stores
frota tbe Uooaler Store JTactory. Am
ever ready and willing to say a good
weirA tnr vmir Co.. tn will aavlaa my
rnenaa to dot a jioctier nioye or nance iruss jeuy
WltUHl year eoatiaaea aucoeta, i turn.
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fWW UmZj.1 VmbIt II fitnalliaVur. tt. U. Un.!L
mmyMt ffPyBVFIHII m WUmr . W---w.w
-a fXaJXet as kbjo ut. Bases ec &eosiar
1. Uaant la 7oar eosaanslty.
',ytvj 'iwiiv
fl!r Au!3 No matter -wherr yo Xve
"Tb! we deliver Hoosl era to you
I?
to t&e 86 dayg tret i
own home estate :
i your
""'SUS
Tfce New 1011 Improvements on Hooaler stoves and raiHfes abaotately surpaM nyiiig evtf 9o
daced. CtorKeCtsuouewiserwooeriaiiHipfoveiMBjrwi ,,. wrm,.
HOOSIER STOVE FACTORY
101 STATE STREET, MARION, iHDIAIf h
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S-S .i" w
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M&y :
la your JXFjpy
youtnay. i SJrj?jL-ri9r
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s a. ytmrfjfmrr svr
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MfJ
mwA-si .
MAIL THIS
COUPON
i TODAY
-!
II
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