Press enter after choosing selection

Stockbridge's Stories

Stockbridge's Stories image
Parent Issue
Public Domain
OCR Text

Senator Stockbridge of Michigan isonc of the great capitalista of that state. He is a solicl business man, and bis head is packed full of common sense. Said he: "I do not appreliend any danger from tbe Knglish invasión, and I tliink that tbe only argument against it is tlie trust or monopoly element, wbich would be bad for us if tbe investmeiits were made by Americana. After all tbere is not so inuiii (langer in trusts. If a monopoly inakes a lot of money others will rush in and compete, and American brains and American capital are not going to allow the English to make fortunes at their expense. I will give yon nu instaiice iii a small way as to how the trusts and monopolios ivork: There is a big carrlage wheel fnctory at Kalamazoo, Mich. It id run by the people of that city, but a larg'e part of the stock bas been owneil by companies in Sandusky and Fort Wayne. These companies alíomake carriage wheels. Tliey found not long ago that the Kalama.oo branch was hurtIng tlieir business and they concluded to buy up the majority of the stock and Bliut it down. They did buy it, but the Kalatnazoo people organizcd and said that ff they (ui nat se )1 bacU tliis stock to tliem at par they would organizo another facto ry and cut the price. They could do thi--, as Kalamazoo is the clilef market for carriage wheels. The outside companies had paid $125 for their stock, but they were glad to sell it to the KulauiaZoo people at $100. "Another example of trusts was in my own expurience,''continued Senator Stockbridge. "A smart young wsgon maker came to ms one day imd showeil me a tlrawlng of a road cart. Said he: 'This is a better road cart than tlie oue now in use, whieb bcIIs at a high price. I have a patent on this machine, and we can make it for S8. It you will advance the money we will stort a facto ry and put it on the market.' I knew the man. His ócheme was a good one. I lent him $10,000 to start his business and we made money from the start. The cart which cost us $8 we sold by the carload at f 18 and at retail at $25. The man paid back tbe whole of that $10,000 the lirst year, and we made money rijflit along for four or five years. Then the other factories saw ihrough our proflts, and half a dozen new institutioDS were started. The proflts ran down and the cart rctails for $10. I then drew out anti my man who had saved a good deal, invested In somethiug else. "The lCnglish are pttying us high rates for everything they get," continued Senator Stoekbridge, "and I do not think they will get back 50 cents on the dollar for whht they are piying. They are gettinji our men to run their Institulions at high salaries. They will have trouble with these sooner or later, aud will have to manage their work with inexperienced '"■- '-■ The disast r wil i f all on i h; Innocent purciiiisors ol tii .i rvut nipn wbo are gettlng up compilóles are, of course, making money. You understand how it :s done. They pay $100,000 for an establishment, and stock the company ut $150,000 and the extra $5,000 goes to the getters-up of the companies. I happen to know that some of the establishment In Michigan which they have been buylng have not been making money for some time and that they have had a hard road to hoe on the American bisis." "How about lurnber, senator?" "I have notheard of a lumber trust," faid the milliouaire pine forest owner; "when they are ready to buy lumber milis or pine lands I will sell them a mili or Uvo, and I will hope to make enough off of tbem to buy a house in Wnshinjrton." -


Old News
Ann Arbor Courier