Image provided by: University of Oregon Libraries; Eugene, OR
About The Coos Bay times. (Marshfield, Or.) 1906-1957 | View Entire Issue (July 18, 1907)
WSvTS?5Sw'i''i'W11'11111 9ffrrvT' M T '' HF "'W W(w ' 7 T- HflPHlIK "IfUHp ISSWJ(WIJII.IIIUfl'lllyHm "lp.'lf!l " jW-fe- gjg I'tffiffi frSW.' iyn smw ygv TnriirwpfcMjjsqBryyPWt; '.-ieii:2s-4, ' m I B Coos Bay Times POBLI3HHD KVHRV DAY HXCKITIN'O MON DAY AND AMO VEEhXY 11Y t; Thk Uooa Hay Times I'ciiusiiinu Co FRED PASLEY, Editor. REX LARGE, Business Manager, Tlio policy of The Uoos Bay Times will be Republican in politics, with the independence of which President Roose velt is the leading exponent. Entered nt the postofllco at Mfirshfleld, Ore gon, for transmission through the liiails &b BCCOml class mall'mattcr. 1 -"'- SUBSCRIPTION RATK- Binglo copy, daily, - - 5 cento Per month, daily, 50 cents Ihtoe months, daily, - - Ifl 25 Bikjnontha, daily - - $2 60 Ono year, daily, - - - $5 00 Weekly, per year - - $ 1 00 '''-""- j Address all communications to COOS BAY TIMES Marshfield, Oregon UNITED STATICS MONOPOLY. MONOPOLY lias come to express a world of dread meaning to Americans. It is the foundation upon which are built the many fed oral cases now being prosecuted by the United States Government. Mo nopoly made Ilarriman, monopoly made Satndard Oil, monopoly made Morgan; monopoly Is today retard ing tho growth of Oregon. It Is sig nificant that while, the people in Ore gon are really suffering from a part of tho groat machine which Ilarri man has built up, tho entiro United States is feeling the effects of that same machine. In the report pre pared by tho Interstate Commerce Commission It is shown how Harri man could start from New York city and make the round trip to China, returning to New York city without stepping from tho dock or platform of a carrier which he con trols without having recourse to the same route twice. He was luriher what appears to be a dominating control in tho Illinois Central railroad, running directly north from tho Gulf of Mexico to the Great Lakes, paralleling tho Missis sippi river, and 2,000 miles west of tho Illinois Central ho controls the only lino of railroad paralleling the Pacific coast and running from the Columbia river to the Mexican bor der. Within a year his sphere of in fluence has extended eastward; the Union Pacific and Oregon Short Lino havo acquired 1S.G2 per cent of the stock of tho Baltimore and Ohio at a cost of $45,4GG,9uO, and have in vested $10,G34,324 in New York Central and Hudson River stock. That it is only tho law which pre vents tho concjru.aUjn Into Mr. Harriman's hr.nd.3 of every railroad lino lying between Canada and Mex ico is tho f rank admission of Mr. Ilarriman himself made at tho hear ing. To gather under on head all ex isting transcontinental lines of as many aa possible and to oxclude the incoming of all competitors becamo manifestly tho Ilarriman policy, which was Inaugurated In 1901 by tho Issuanco of $100,000,000 of con vertible bonds by tho Union Pacific. AVith tho proceeds of those bonds, the Union Pacific purchased control of tho Southern Pacific company and a majority of the outstanding stock of tho Northern Pacific railroad com pany, which later Incidentally car rlod with it control of one-half of tho stock of tho Chicago, Burling ton and Quincy railroad company, tho stock of which had boon purchas ed jointly by tho Northern Pacific and Great Northern companies and their collateral trust bonds issuod thorofor. Possession of theso lines would havo given to tho Union Pa cific nbsoluto mastery over every avonuo leading to tho Pacific coast tho northern border of the country and that offered by tho banta Fe on the southern. This plan, If exe cuted, would have subjected to a common will and policy nearly one half of the territory of tho United States a comparatively undevelop ed, rapidly growing and extremely rich territory Into which must nec essarily extend the population and business of tho eastern states. It has been, however, no part of tho Harriman policy to permit tho properties which were brought un der tho Union Pacific control to de generate and decline; as railroads they are better property today with lower grades, stralghter tracks and more ample equipment than they were when they came under that control. Largo sums have been gen erously expended in the carrying on of engineering works and better ments, which make for tho improve ment of the service-, and permanent value of the property. Tho control of tho Northern Pacific and the Bur lington by tho Union Pacific was prevented eventually by the decision of the supreme court of the United States in the case of Harriman ver sus the Northern Securities Com pany, in which that court held that it would bo In violation of tho Sher man Act for the Union Pacific to con trol those railways, as they were competing lines. The Southern Pa cific remains within tho control of the Union Pacific. In all of its acquisition of stock contiul in other railroads, tho Union Pacific has either purchased the stocks directly Itself or through the Oregon Short Line railroad company, which it owns and controls, and which is really Union Pacific. In the year 1001, the Union Pacific acquired 750,000 shares out of a total of 1,978,492 shares of Southern Pacific stock and subse quently acquiring 150,000 shares, making a total of 900,000 shares or 45.49 per cent of the total stock issue of the Southern Pacific com pany. Thereafter, when the prefer red stock of the Southern Pacific was Issued, the Union Pacific sub scribed for Its proportion, to wit: 130,000 shares out of a total of 395, GSS shares; so that at the pres ent time, tho Union Pacific owns 1,080,000 shares out of a total of 2,374,180 shares. The Southern Pacific Company is a holding corporation It .was organ ized under a special charter of tho state of Kentucky in 1884, and was authorized to acquire by purchase or otherwise tho stocks, bonds and se curities of railway and steamship companies. Shortly after its organ ization it acquired the stocks of and controlled, and still does own the stocks of and control a system of rail road extending from Ogden, Utah wliero It connected with tho Union Pacific to San Francisco from San Francisco to Portland, and from San Francisco through California, Ari zona, New Mexico, Toxas, and Louis iana to New Orleans and has slnco acquired a lino of railroad Into Mex ico. It also owns and controls a lino of steamships from Galveston and from Now Orleans to New York and Havana. It is unnecessary to dotall each separate railway corpora tion owning tho sections of tho vari ous lines in theso states; it 1b suffi cient to say that through stock it controls tho entire Southern Pacific system commonly known as tho Sun set Route. Of those lines tho Union Pacific has a loase and owns tho stocks of other linos, notably Texas lines, It is simply a stockholding company, and controls them In that way. Among these linos so ownod nnd controlled is tho Contral Pacific Railroad Company, organized under tho laws of Utah on July 29, 1899. This company was originally the Contral Pnclflc Railway Company, or ganized under tho laws of California, which, with tho Westorn Pacific Company (which was also organized under the laws of California and subsequently consolidated with it), constructed tho lino from San Frau clsco to Ogdon, whore It connected with tho Union Pacific. This is tho Pacific which was to be operated with tho Union Pacific. It subsequently acquired the line from Rosovlllo (near Sacramento), Calif., to the Ore gon stato Hue, which was constructed by tho California and Oregon Rail road Company, organized under the laws of California. Tho California and Oregon Railroad Company, of Oregon, constructed tho lino from Portland to tho California state line, which company still owns that line. Tho Central Pacific Company, there fore, owns tho line extending from Ogden to San Francisco and the line from Rosovlllo to tho Oregon stato Hue. It has a capital stock of $G7,275,500 par value of common stock, and $12,800,000 of preferred stock, all of which Is owned by tho Southern Pacific Company; and the Southern Pacific Company also has a lease of Its line. It was only tho lino from Ogdon to San Francisco, however, which was required by act of Congress, to be operated in con nection with the Union Pacific. Immediately, however, upon the purchase of tho Southern Pacific Company's stock, the Union Pacific began the unification of the two or ganizations and tho exercise of a con trol over the Southern Pacific, which has effected a substantial elimination of competition between those two lines. Tho Union Pacific and Oregon Short Line havo at each annual meet ing of the stockholdeis of the South ern Pacific since 1902 voted a ma jority of the stock represented at such meetings nnd have elected the directors and other officers. For sev eral yoars past the Union Pacific and Southern Pacific have had a majority of common directors, the same presi dent, vice-president, director of traf fic, director of maintenance and oper ation, secretary, treasurer, comptrol ler, auditor, legal department and other chief officials. Whereas, for merly the two companies had separ ate commercial agents in the prin cipal cities throughout the United States, soliciting traffic over their respective lines, they now have com mon agents and solicitors who repre sent the Union Pacific and Southern Pacific system. Whilo the Union Pacific, through the short line, does not own a majority of the stock of the Union Pacific, yet it appears by the testimony that its control over It Is, for all practical purposes, as ab solute as though It owned every shnro; nnd it was admitted by Mr. ntuujuasmi'w. unuj.il Harriman that the Union Pnclflc con trols tho Southern Pacific. Before the acquisition of Its stock by the Union Pacific, tho Southern Pacific Company, with its linos of rail and steamships, was engaged in competition with the Union Pacific x m l t.l....... 11. n tln.tft. .H lur Liiwuc uiu uuiwuuu liiu jiiiuunv ky seauoaru ana tno racinc seauoara, wgj and between the Atlantic seaboard i and oriental ports. Through their several connections by rail, theso ' llnoa wprn nlun nnprtp-prl 111 rnlntlfiM- I tlon for traffic from practically all points east of the Missouri river, be tween the Great Lakes and the Gulf of Mexico. From Atlantic seaboard territory east of Buffalo and Pitts burg rates have generally been tho I same upon business destined to tho j if Pacific coast, whether moving by tho fjt nil-rail route, Including tho Union j and Central Pacific, or moving by rail ' $ to an Atlantic port, thence by water 2 in Nnw OrlAnna nnil rjnlvpsrnn find ' i&t thence by Southern Pacific rails to Los Angeles, San Francisco or Port- j land. Rates from this same Atlantic , seaboard territory on traffic moving by tho Southern Pacific steamships and its rail connections -to Colorado common points have likewise been the samo as on traffic carried by rail over the Union Pacific to such points, and on such traffic there Is a great and Increasing volume. It is doubt less true the competition which pre viously existed was not as complete as if the Union Pacific had a lino of Its own Into San Francisco, Instead I of turning traffic over to tho Central Pacific at Ogden. For all this traf fic there oxists at present no actual competition between the Union Pa ciflc and the Southern Pacific lines. $tm SUMNER PEOPLE TO GIVE DANCE Will Entertain In Elnbornle Fashion Coos Bay Orchestra Secured. Sumner will entertain the peoplo of Coos Bay and surrounding coun try on July 27 with a dance. Tho affair will be elaborate, and from in dications there will be a largo at tendance. Tho Coos Bay Orchestra lias been secured to render music for the occa sion. The boats Tioga and Sumner will bo at the service of those wish ing to attend the function. Come right in for Lunch and Dinner today Cuisine perfect; service unequalecL The nicest appointed restaurant on Coos Bay Table anfd lunch counter trlde solicited If you are going to pay for a dinnerwhy not come where you carrget the BEST. Dinning room board $500 per week lunch counter board $400 per week Best of at tention given fywrrmamg uafc-WJairsHHW tttttmmtttitttm&tm Y A6A. fc 0$OA,,AakoO 5 6wee$404$O4 North Front Street Opposite City Hall tt A nice line of Souvenir Postals jfi ars, z i. ... "W immnmmmmmis mmmmmmnmns within tho United States, save that afforded by tho Great Northern on lino originally known as tho Central YOUNG M Are You Looking for REAL ESTATE BARGAINS? U' MANUFACTURER Looking for a New LOCATION props we nave gooj reasonable prices arid yould J 1 a taiK witn you about them. ties for sale at be pleased to F. M. Rummell Jr. & Co. A Street. EggagagBsassBUflCTwygaa EaS?S3im!33SKaB2!aEn3! Do you realize khe ness e NSIDER Ml race ofyB busi- micamon W CAREFULLY er-Cleaver Portland & Coos Bay S. S. Line TER storia every Thursday We are furnishing power at very low BREA Sails for Portland a C. F. JMcCollum, Agt. Phone Main 34 - - - KWA A. St. Dock Business College North Bend, Oregon :anm:mmjmKmttttmKKtn::mntmmnmj! iry I he . DELICATESSEN fW I IIIIIM ! I jr for Ice Lream. If Any Amounts Furnished Cake and pies tb order. Picnic lunches a specialty. Sprnnrl anA C fvnnt. "" ........... .mmwHMHmwjmromtmwmimmmmtmmmmmmummttmmttmitittS I rates. I There is splendid i openings JHiere in I many lines. I . I Write Us for Mails J i If 9 I El JU j I f iihe Coos Bay Gas & j 1 .'wl,a, . sfe m ,iY au Hi V 9r ' fmnr-nm,Mu jxhu.1 S V 1 -WWHmMtyNKwm --MMggS! ' IW Mi