Richmond Palladium (Daily), Volume 39, Number 28, 12 December 1913 — Page 4

PAGE FOUR

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, FRIDAY. DEC. 12. 1913

The Richmond Palladium

AND SUN-TKL.BORAM.

Published Every Evening Except Sunday, by Palladium Printing Co. Masonic Building. Ninth and North A Streets. R. G. Leeds, Editor. E. H. Harris, Mgr. i i i , i i a la Richmond, 10 cents a week. By Mail, In advanceone year, $5.00; six months, $2.60; one month, 45 cents. Rural Routes, in advance on year, $2.00; six months. 4L26; one month 26 cents.

nd CUm Mall Matter.

"The Endless Chain." The third article of the series hy Mr. Louis Brandeis in Harper's Weekly on the monopoly problem appears this week under the title "The Endless Chain." It is an exceedingly interesting exposition of the system of interlocking directorates which seems to be the chief means by which the Money Power controls the industry and credit of the nation. He shows how one member of the firm of J. P. Morgan & Co., may be a controlling influence in dozens of corporations popularly supposed to be in competition with each other. In this way one banking house becomes owner, selling, and distributer, thus effectually destroying competition among these various concerns under its control. Not only does the interlocking directorate make competition impossible, writes Mr. Brandeis, it removes the incentive to development in these firms and makes them pensioners of a mighty system that is able to guarantee to them their business. More Jthan that it undermines the breed of manhood itself and fosters inefficiency. For when a corporation monopolizes its market it finds it easier to conduct its business in a cheap and slovenly way and charge the public up with the waste. This is one of the undeniable causes of the high cost of living. "Interlocking directorates breed inefficiency and disloyalty; and the public pays in higher rates for poor service, a large part of the penalty for graft and inefficiency." How it is possible for one firm to absorb control of many others supposed to be free is illustrated by the Steel Trust, the very "nexus" of Big Business. The few men who control this monopoly also own a number of railroads and control twenty-nine others with 126,000 miles of track, this being more thjtfi one-half of the total railway mileage of the country. Mr. Brandeis points out how this now common practice of having the same man in control of two competing concerns strikes at the very principle on which modern business methods and morals are supposed to rest. If a city engineer lets a contract to a concern of which he is part owner, he is immediately accused of graft and usually discharged: why, asked Mr. Brandeis, does not this same principle apply when a director in one

corporation is part owner in another with which it is supposed to compete? But this very unbusiness like practice has been made possible and even upheld by the courts. They have decided that a contract is valid when drawn between two corporations when one man is member of both boards of directors providing his vote is not decisive. And they also have held that even a contract for which such a director has actively worked is not void unless the stockholders so elect. The fallacy of both these positions is apparent, points out Mr. Brandeis, the moment the quiet influence of a man who does not formally vote is taken into consideration. If it is merely known among the others that one director, a representative of the Money Power and consequently dictator of a corporation's financial policy, is opposed to some measure, the voting directors will not dare to advocate it. And as for the second, he emphasizes that the contract is not declared VOID but merely VOIDABLE, which is quite a different matter for it usually is impossible for the many stockholders of a big corporation to know enough about its internal affairs to be able to vote one way or the other and thus as a rule a contract will not be voided, however undesirable it may be. Protection to the stockholders would dictate that EVERY contract entered into with a concern in which a director was interested be void. So fatal to business development and industrial liberty is this pernicious system of interlocking directorates Mr. Brandeis insists that the President's New Freedom will never be realized until it is destroyed. "Even more important than efficiency," he says, "are industrial and political liberty; and these are imperilled by the Money Trust. INTERLOCKING DIRECTORATES MUST BE PROHIBITED, BECAUSE IT IS IMPOSSIBLE TO BREAK THE MONEY TRUST WITHOUT PUTTING AN END TO THE PRACTICE IN THE LARGER CORPORATIONS." What is a criminal offense in the Federal government must be made equally a criminal offense in business practice. What it is necessary to do in order to uproot this system, Mr. Brandeis promises to discuss in his next article of the series. It would be a good thing if every member of the state legislatures and the national congress could somehow be made to learn every one of these remarkable articles by heart.

Wilson. The renown, not to say notoriety, which this brilliant and eloquent defense of Jeffersonian simplicity won for Mr. Gray, seems not to have quenched his insatiable thirst for fame. Behold him soon after, the beplumed Don Quixote of Hoosierdom, again drawing the attention of the nation to his own Bismarckian statecraft by introducing a bill into Congress asking for an appropriation of half a million to I finance a scheme for inaugurating a naval holi-j day among the Powers. He asserted it would be an easy matter to have delegates attend a big , pow-pow at Washington next summer where a i program of disarmament could be agreed upon 1 and this criminal waste of warfare be done away with for half a decade. How his soul must have dilated with the prospect of being called upon to deliver another oratorical masterpiece at that j

gathering is more easily imagined than described. But the fates were once more severely cruel, and Mr. Gray's chef-d'oeuvre settled into a Congressional pigeon-hole, from thence never to arise. And the members of the House to whom the great proposal had been as a dose of assafoetida settled back into mere routine work with a sigh of relief. But not for long. Some member with an unusual sense of humor has now come forward with a nomination of Mr. Gray as member of a naval committee ! Ye gods! What is the use of wasting what few shekels our awful war tax leaves to us on such denatured wit as furnished us by Puck and Judge and Life when we can have Mr. Gray for nothing!

BY SISTERS OF HOLY CROSS

At the Gennett.' Monday "The Master Mind."

"The Master Mind." the play in j which Kdmund Breese will be seen at ; the Gennftt next Monday, introduces to the stage a type of criminal who, by his nefarious methods spreads consternation among the police as well as ter- , rifles society. He is an individual who robs and plunders with a gun clutched in one hand and a booty has in the other. He is gentleman of fastidious tastes, rich in earthly possessions with a remarkably. een intellect, which has been diveru-d into unlawful channels by years of mental anguish.

F"J- -mo -itiiVilti

Endorsement of Father Johns Medicine as a Tonic and Body Builder. Cures Colds and Lung Troubles.

Thi3 13 on? of the many letters we have received from hospitals and institutions all over Canada and the United States: "We cheerfully recommend Father John's Medicine as a good remedy for bronchial troubles and aa a tonic and body builder for those who are weak and run down. Several persons of our institution have used it with teneficial results." (Signed) Sifters of Holy Cross. 44 Chandler St.. Nashua. Js. II. Not a 'eoujrh syrup'" or a patent medicine with weakening stimulants, but a food medicine the prescription of an eminent specialist. Cures colds and all throat troubles.

CSS

Gov. Cox Prescribes. Governor Cox of Ohio was one of the speakers at the Fifth Annual Dinner of the Railway Business Association given at the WaldorfAstoria last evening. He did not beat about the bush in the usual after dinner style, but drove straight to the center of the problem which now perplexes railway men as much as Congressmen and other mere humans. The railways of the country, said the Governor, are manifestly not keeping pace with the rapid expansion of industry and agriculture. In spite of the steady increase of haulage made necessary by this amplication there is congestion on all lines, lack of terminal facilities, lack of rolling stock, and irregularity of service compared with a few years ago. Spite of the need railways are unable to secure the money necessary to make the proper developments. There are fewer securities listed now than at any other time since 1910. But this, he argues, is not caused by adverse legislation, as might be thought. Nor is government regulation the cause. "Sane regulation will become the ultimate salvation of the business. One cannot resist the thought when he surveys the abuses of over-capitalization, financial adventure and personal exploitation, that the

mistake in regulation has been that it has not

come soon enough. No one will seek to condone the practice of milking railroads in order that executive officers and directors might be illegally and immorally given vast fortunes through the artful and insidious methods of contracting with themselves for construction work." What is needed, he declares, is more capitalization, not in water, but in equipment. That means that men must invest in them. But capital won't be risked by any wise investor until the roads are correctly valued and one can be sure what he is investing in. Nor will risks be

jrun until a definite railway policy has been set

tled on by the nation. After thus diagnosing the case he prescribes by urging that the Interstate Commerce Commission take steps toward a just valuation and the control of the issuance of securities. This will mean a more ready investment in railways and that, rather than an increase in rates, is what will save the roads. Not a bad prescription, we believe, to have been made by a layman.

Price's own make of fruit and nut fudges, buttercups, and hard boiled candies. i

ENDURANCE HURDLER TO WED F. C. GREENE

ST. LOUIS, Dec. 12. Miss Eva En-1 durance Hurdler, a member of the ; Missouri geological survey, and the only woman mining engineer in the world, is to wed Frank C. Green, of New Albany, Ind., geologist for the

then quit her profession.

Oil

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FLASHLIGHTS The most complete line in the City. Tree Lighting Outfits Electric Motors, Engines, Batteries, Bicycles, Umbrellas &. Cutlery Wm. H. Duning 43 n. Eighth

POINTED PARAGRAPHS

SORT O' CONTEMPTUOUS. Nangle (X. Y.) Utterance. The deer who loafed around and fed with cattle and pigs for a whole month must have the same opinion of the city chaps who shot at them and hit Nate Hollins that Mrs. Hollins has.

PLENTY OF SOUND REASONS. Port Arthur News. Missouri reports having a wild man who keeps bees in his hat and in his wooden leg. If this is really correct, it isn"t particularly difficult to figure out what makes the -vjild man wild.

FEMINIST MOVEMENT O. K. Houston Post The women of Texas may not be making much head-

1 way getting votes, but the marriage license records show ; they are getting the voters by the thousands.

DEPRESSING FACT. Kanesburgh Illuminator. Having paid for our new sidewalk we appreciate the difference between an estimate in the abstract and one in the concrete.

Mr. Gray: A Good Political Joke Mr. Finly Gray, who may be known to some of our readers as representative from this district, stepped into the national lime-light a few weeks ago when he entered the lists against Mr. Mann's proposal to buy a wedding gift for Miss

FURTHER CAUSE FOR DELAY. Omaha Bee. Here we are crying for more ships, while the navy department at the same moment says it has not men enough for its present fleet.

DON'T COME VERY OFTEN. Dallas News. If you eat meat only when a cargo of cheap beef comes

in from Argentina, don't you get pretty hungry between

meals?

Sore Throat Wisdom. To relieve Sore Throat you must pet at

the seat of the disease, removing the ! cause. Not hint? else does that so

uickly, safely and surely asTONSILINE. j l dose of TONSILINE taken upon the !

first appearance of Sore Throat may save j lone davs of sickness. Use a little Sore ;

Throat wisdom and buy a bottle of TONSI" LINE today. You may need it tomorrow.

I UINMLIINK 13 the standard bore j-fr Throat remedy best known and fcVT . .i - a. . : 1 a j T . 1 I'l

for the long necked fellow on the bottle when you go to the drug store to get it. 25c. and 50c. Hospital Size $1.00. All Druggists.

Gennett Theatre MONDAY December 15th EDMUND BREESE

Prices 25c to $1.50. and New York Company Seat Sale Murray Friday 10 a. m.

A substantial prize has been offered by a Dutch society for bulb culture for the best bulb-digging machine.

UDGED by results MECCA quality is supreme for mil

lions of smokers find complete, constant enjoyment in this famous Turkish-Blend cigarette. j The greatest leaf-experts in Turkey and this country selected' the tobacco for MECCA. Skill-' f ul blending has developed a distinctive fragrance and smooth, mellow flavor, wonderfully satis-

rinq to the taste.

The new foil package of 20 isj very popular with smokers) because they get a double quantity of cigarettes at one time get them fresh and get them in the most compact, con-' venient form for carrying about. MECCA sales are growing daily there's no limit to MECCA popularity. Are you familiarwith MECCA quality?

Turkish Blend J

In the new foil package 20 for IOC

"You Should Worry"

Vntil You Vse

Mathers Special

BEST COAL

Cook Stove, Heating Stove and Grate FJILrir $4.75 PER TOFJ Don't Delay PHONE 1178 Order Now

DOCTORS Himhaw and Johnson DENTISTS Gennett Theatre Flats 1st Door West of Pest Office Phone 25S9

D. E. Roberts Piano Tuner Sc Repairer S'.xten yvirs in the profession. Kstiiiiates i"'.;riushii for repairs. My Work Will Please You. Phone 36S4.

TRY COOPER'S BLEND COFFEE For Sale at Cooper's Grocery

Phone 1217. 04 Main St.

Christmas Suggestions : Head Your List with KODAK We have Kodaks and Brownie Cameras at different prices to suit any purse. A SAFETY RAZOR makes an acceptable gift ipr a gentleman. We have all makes. In the solid blade we have the Torrey Razor which makes smooth shaving a daily delight. PERFUMES We can show you a very nice line of all the leading odors. All prices. MANICURE TOOLS Best of steel. A large assortment. FOR YOUR PHOTOGRAPHIC FRIEND We Have " Photo Albums Carrying Cases , Tripods Exposure Tables Portrait Attachments Photo Magazines In fact most everything in the Photo line. A STERE0PTIC0N, or Post Card Projector Makes a fine gift. Instructive, too, for both young and old. H. W. Ross Drug Co. The Place For Quality

DESIRABLE GIFTS of Bracelets, Lockets, Chains, Rings, Fobs, Bar Pins, Stick Pons, Cuff Links, Combination Sets, Toilet and Manicure Sets, Emblem Buttons, Mesh Bags, Combs, Etc., at savings of 10 to 25 per cent See My Window Display SAM S. YICRAN Reliable Cut Price Jeweler 6 North 6th Street

SPACE FOR STORAGE OR MANUFACTURING PURPOSES We are equipped to handle all kinds of storage. Space with plenty of light for manufacturing purposes. RICHMOND MFG. CO West Third and Chestnut Sts. Telephone 3210.

Christmas Money brought to your home any amount from Z to $100 on household goods, piano?, teams, etc., without removal. Call, write or phone and our agent will calf and explain our low rate. Private Reliable The State Investment and Loan Company Roem 40 Colonial Bidg. Phone 2560 Take Elevator to third floor. Richmond, Indiana.

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