Democratic Sentinel, Volume 16, Number 19, Rensselaer, Jasper County, 27 May 1892 — McKinley’s Account Continued. [ARTICLE]

McKinley’s Account Continued.

The first week in May was a busy one for our accountant who has charge of the work of registering strikes, wage reductions, trusts, etc., that occurred during the week, and of crediting the McKinley bill with the wage advances made and the trusts killed, and of debiting it with the wage reductions, lockouts and trusts formed. -On May Day the workingmen all over the country attempted to recover the reductions that naturally occur during the year in wages, and, if possible, to gain a little. Hundreds of strikes for this purpose occurred this year, but these are not taken yito account. Even without these, the account on the debit side is so long that it will have to be abbreviated for publication. Strange to say, there is again little or nothing upon the credit side of the bill. The few slight reductions in hours or advances in wages gained by the May-day strikes have all occurred in the non-protected industries carpentry, stone-cutting, plumbing, etc. April 30. To a trust composed of gas fixtures. Some of the manufacturers alleged to belong to it deny that such a trust has been formed, but admit that prices have been raised. They say that the increased cost of material and higher duties compelled them to advance prices. May 1. To a report that the great safe manufacturing houses of Herring, Hall and Martin have formed a trust with a capital of $3,300,000. The . combined earni.ngs jhe three companies in 1891 was $316,790. ‘—- May 4. To a reduction in wages in the woolen mills of Jas. G. Knowles & Co., of Wilmington, Delaware. The wages of the weavers were reduced from 75 to 70 cents per out. As this was the second reduction since February, when the price was 80 cents per cut, about twenty of the one hundred employes struck, and the mills have shut down. The wages of the men have averaged about $35 per month.

May 5. Prominent leather-tanning firms in and around New York City have called a meeting to consider a proposition not to wet any hides for a period of three months. If the market has not broadened by that time the tanners will continue to curtail the output until it does and prices can be raised. May 5. To an increase from 1J to li cents per pound in the price of sisal twine made by the cordage trust. The dealers who are compelled to buy sisal twine must sell at not less than 12 cents per pound. Those who were fortunate enough to place their contracts before the National Cordage Company gained complete control can make a lower price. Only about one-fiftieth of what will be needed is now in the hands of dealers. Jobbers are completely out, and will be compelled to pay cordage prices. This means an extra expenditure of thousands of dollars to the farmers of the country. May 6. To an advance of fifty cents in the price of anthracite coal, made by the great coal trust, composed of the railroads who now control 75 per cent, of all the anthracite coal lands In Pennsylvania. This means a direct annual tax of $20,000,000 per year on the American people. While there is no tariff on anthracite coal, yet the tariff on bituminous coal, which competes with anthracite, is indirectly a benefit to this trust? If New England could get her supply of bituminous coal from Nova Scotia, and save about $1 a ton, the price of bituminous coal, at least along the Atlantic coast, would have to decline, and the price of anthracite would decline with it. May 6. To a reduction of 20 per cent, in the wages of the spidermakers at the Thompson-Houston Electrio Company’s factories in Lynn, Mass. The men suffered a 20 per cent, reduction two weeks ago, and have struck to resist the present reduction. May 6. To a report that an English syndicate has obtained options on about twenty of Kentucky’s largest bourbon whisky distilleries, that manufacture about 22,000,000 gallons a year—twothirds of Kentucky’s product. The syn- | dicate expects to limit production and to raise prices. Mr. Nathan Hoffheimer, a well-known New York speculator, who has just made $300,000 out of the Reading deal, has secured the options and negotiated the deal. He will be a large stockholder in this new trust. The “old brand” men, who have a market for all they can make, are the only ones who . refuse to enter the trust and sign a contract to curtail production more than 50 per cent.