Jasper County Democrat, Volume 11, Number 37, Rensselaer, Jasper County, 10 October 1908 — TRUSTS FAVOR TAFT [ARTICLE]

TRUSTS FAVOR TAFT

“Interests” Are Strongly Represented on the Republican Committee. BHELDOH OFFICIAL FAT FRIER List of Those from Whom He Got Contributions Republican Treasurer is Director in 21 Corporations—Raised Big Fund in 1900 Recommended by Standard Oil Attorney. Chicago, October 1. —(Special.)—In connection with the controversy which the President has raised as to whether the trusts and financial concerns are most Interested in the election of Mr. Taft or Mr. Bryan, the Democratic National Committee Calls attention to a few of the controlling spirits tn the Republican Committee who are actively Interested In trusts and monopolies. At the head of the list stands George R. Sheldon, treasurer of the Republican National Committee. Mr. Sheldon’s selection tor this Important post of official “fat frier” was made upon recommendation of Wm. Nelson Cromwell, the great corporation lawyer of Wall Street, attorney for the Panama Canal Company, E. H. Harriman, the Standard Oil Company, the Sugar Trust, Kuhn, Loeb A Co., bankers and brokers, and other favored Interests. Almost Immediately after his appointment, Mr. Sheldon Is reported to have received a contribution from Mr. Cromwell, amounting to 356,000. Mr. Sheldon is a multi-millionaire, the active head of the banking firm of W. C. Sheldon & Co.,' 3 Wall Street According to the "Directory of Directors," for the present year, Mr. Sheldon’s name appears as a director in the following 21 corporations: American Locomotive Company. American Locomotive Automobile Company, » Bethlehem Steel Corporation, Cincinnati Northern Railroad Company.

Detroit Edison Company, Electrical Securities Corporation, Laclede Gaslight Company, Locomotive and Machine Company of Montreal (limited!, Locomotive Security Company, Metropolitan Trust Company, Milwaukee Electric Railway & Light Co., Milwaukee, Light, Heat and Traction Co., National Copper Bank, New Jersey Terminal Dock and Improvement Co., North American Co., Republic Steel & Iron Co., of New Jersey, Rogers Locomotive Works, St. Louis Transit Co., Union Bag & Paper Co. of New Jersey, Union Electric Light & Power Co., Union Electric Light & Power Co., of St. Louis. Mr. Sheldon's connection with the j Locomotive Trust places him tn closeconnection with the railroads of the ; country, where he is able to procure; their campaign contributions''. He lai also a confidential agent < J. Pierpont Morgan in his Wall street deals, and assisted In the formation of the Shipbuilding trust. His North American company controls the traction Interests of St. Paul and Minneapolis. He is president of the Union League club, of which Rockefeller, Morgan, Carnegie and other powers In Wall street are also members. He is also said to be a member of 20 other clubs whose membership Includes practically all of the operators In Wall street. In 1908 Mr.* Sheldon was treasurer of the New York State Republican committee, and succeeded so well In frying the fat from the interests that Mr. Cromwell recommended him for a similar job with the National committee. According to the sworn statement of Mr. Sheldon, published after the campaign, he raised 1333,923.60 chiefly from these interests. The following Is a partial list of the contributors as shown in Mr. Sheldon’s statement: J. Pierpont Morgan, Wall street banker and promoter ....... $20,000 Levi P. Morgan, banker. Wall street 20,000 John D. Rockefeller, of Stand- t ard Oil 5,000 Andrew Carnegie 5,000 Chauncey M. Depew, railroad and Standard Oil senator .. 5,000 H. R. Hollins, financier 5,000 Jacob H. Schiff, favored banker 2,500 Harvey Fisk & Sons, bankers and brokers 2,50(T Kuhn. Loeb & Co., bankers and fiscal agents ... 2,500 J. A W. Seligman & Co., bankers and fiscal agents 2,500 Chas. W. Schwab, steel trust and other trust corps 2,000 C. R. Mackey, Postal Telegraph Co. 2,000 John W. Gates, stock gambler and trust operator 2,000 W. E. Corey, Prest. U. S. Steel Corp. ;......... 2,00# W. C. Sheldon A Co., bankers and fiscal agents .. 2,000 John Jacob. Astor, tenement house owner 1,000 Wm. Nelson Cromwell, trust lawyer . LOOO

Cornelius Vanderbilt, railroad interest* /.. i,o®o W. K. Vanderbilt Jr., railroad interests 1,000 Edwin Gould, railroad interests 1,000 W. F. Havemeyer, sugar trust., 800 B. N. Duke, tobacco trust ...*. 500 D. O. Mils - 500 H. M. Flagler, Standard 0U.... 500 Arbuckle Bros. Coffee Trust.... 600 Henry Clewa, Wall street banker 250 This is only a partial list of the trust magnates and financiers who contributed to Mr. Sheldon's fund. An Index as to how much more Mr. Sheldon may be able to raise from these interests for the national campaign, the fact may be cited that Mr. Cromwell gave >I,OOO to the state fund, and Increased the amount to 150,000 for the national campaign. Fred W. Upham of Chicago is assistant treasurer pf the Republican National committee. He is a millionaire several times over, and a member of the County Board of Review of Illinois, which passes upon the amount of taxes which corporations and large estates shall pay in that state. He is a director In several corporations and 1* in charge of the collection of cam- , palgn funds in the west. On August 21, 1908, after his appointment as Assistant Treasurer of the Republican committee, Mr. Upham sent out thousands of letters to corporation officials whose taxes he passes upon as a member of the Board of Review, urging them to contribute to the Republican fund as “Individuals," and requesting them “to bring this matter ’to the attention of your business associates.” The suggestion implied is regarded as significant. Five of the nine members of the Republican committee are: Charles F. Brooker, Connecticut millionaire, members of N. Y. Chamber of Commerce, and vice-president New York, New Haven Railroad Co., against which a government suit Is now pending, and one of the leading spirits in the brass trust. Frank O. Lowden, multi-millionaire, vice-president Pullman Palace Car Co., which Is a Monopoly.

E. C. Duncan, director Atlantic & North Carolina railway, and other corporations, receiver Seaboard Air Line, and official dispenser of patronage in North Carolina. T. Coleman DuPont, controlling factor In Powder Twat, against which the government has a stilt now pending for dissolution. Boise Penrose, political boss of Pennsylvania, head of the corrupt Republican organization In Philadelphia, and conspicuous in many corporations. Roy O. West, chairman of the Republican State Committee of Jll., is also chairman of the County Board of Equalization, which passes upon corporation taxes. Fred A. Sims, acting chairman of the Republican State committee of Indiana, is also chairman of the State Tax board, which passes upon the taxes levied against corporations. Mr. DuPont has been forced to resign from the executive committee because of his trust connections, but Mr. Brooker, against whose company the government has a suit. Is still a member of the committee.