surface, because the railroads favor large shipments and large shippers. The railroads are assisting the industrial combinations which manufacture and ship direct to the consumer, and are thus working against the interest of the jobbers. The increase in the Southern classification in respect of carload and less than carload lots is directly in line with this tendency, and the effect on New York as a distributing center has been to reduce the number of jobbing houses from 28 to 4. The ultimate effect will likely be to eliminate the jobber as a factor in commercial affairs and to lessen the importance commercially of many of the large centers of trade. It means a closer connection between the producer and the consumer, and tends toward economy. The department store, the introduction of trolley lines, the maintenance by the department stores of their free-delivery system, and the mailorder system have had a great effect in eliminating the jobber. The elimination of the jobber from business has been caused somewhat, perhaps, by the tariff shutting out foreign_importations. The jobber formerly represented foreign houses in this country. Some of the large department stores, as Siegel Cooper & Co., Wanamaker, and others, take the entire product of mills and dispose of it without the interposition of either the jobber or the commission man. (871-872.) G. Alleged discrimination in Government contracts.—Mr. WHEELER says that the jobbers of San Francisco consider that they have a grievance as to the action of the Government in buying supplies for the army in the Philippines. He understands that practically all clothing is purchased and stored in Philadelphia. Camp equipment is stored at Jeffersonville, Ind. Contracts are advertised for the delivery of goods to these places and other similar Eastern points. These goods are thence shipped through San Francisco to the Philippines, and the San Francisco bidders are barred from any opportunity for competing for the contracts, even though they are at the very gateway of the Philippine traffic. The San Francisco dealers do not ask for a monopoly, but desire that the Government shall call for bids for the delivery of goods at San Francisco. This will give the jobbers there a chance to make bids without barring out those from Chicago and other Eastern cities. The Government could establish storehouses at San Francisco and maintain stocks of supplies there. The witness thinks it would be a proper subject of Congressional inquiry to ascertain why one section of the United States is discriminated against in the letting of these contracts. (756.) H. Panics.-Mr. GREENE, of the Audit Company of New York, points out that panics do not affect manufacturers and general business as soon as they do specuÏators. Panics are financial in the first case. The manufacturers of the country suffered most in 1896 and 1897, not in 1893. The witness thinks that industrial combinations, by preventing overproduction and by building up export trade, especially through the aid of low export freight rates, will do much to check panics in the future. (482, 487.) I. Discriminating tariff on goods carried in bond.-Professor RIPLEY says that a discriminating tariff against all goods carried in bond would have the result of prostrating practically every industry in New England. It would be one of the greatest disasters for New England which could happen if its shippers should be deprived of the advantage which they now have of shipment over Canadian lines, as they now suffer from the disadvantage of being far from raw materials and distant from the great centers of population and wealth. (290.) J. Southern Pacific Company in politics.—Mr. WHEELER says that heretofore the Southern Pacific Company has been exceedingly active in California politics. There has been no State or local features which it has not tried to grab. The company states that the new administration under the presidency of Mr. Hayes will abandon this policy. (754.) K. San Francisco Board of Trade.-Mr. WHEELER, a member of the San Francisco Board of Trade, says that this body is an association of wholesale merchants who make use of it exclusively for the purpose of economies in the settlement of bankrupt estates. By joining together more is saved in the administration of an estate for the benefit of creditors than would otherwise be the case. (743.) L. Michigan Alkali Company.—Mr. BACON, freight manager of the Michigan Alkali Company, says that this is a strictly "family corporation." The manufacture of its principal products is based on salt, of which there is a stratum over 300 feet thick on its property. The company employs about 2,000 men, and over 80 per cent of the cost of its product goes for labor. About an eighth or a tenth of the labor employed is skilled. The wages of common labor are $1.50 per day and of skilled labor from 25 cents to 50 cents an hour. The company consumes daily 700 tons of coal, 100 tons of coke, and 700 tons of limestone; 500 tons of finished material are produced, consisting of soda ash, bicarbonate of soda (baking soda), caustic soda, and Portland cement. The principal buyers of heavy soda ash are the glass factories of Pennsylvania and Indiana, and of light soda ash soap factories. There are only 3 other establishments engaged in this industry—at Syracuse, N. Y., Saltville, Va., and Delray, near Detroit. The manufacture of these products is protected by the tariff. Formerly in the absence of protection there was a very narrow margin of profit. English ash was laid down in the interior of this country at about what was considered the actual cost of manufacture here. The competition between the factories in this country is active, but not ruinous. (72, 79, 80, 85.) M. American money.—Mr. SCHIFF, banker, says that the large amount of American money in existence to-day has been partly taken out of the earth in gold and silver. Partly it has been created by the creation of wealth. The bank note represents wealth, and for this reason the Government circulation is not justified, because the Government does not produce anything and should not be the maker of the vehicle of wealth circulation. That function belongs to the banks. (777.) INDEX OF REVIEW AND DIGEST. Accidents, railway Accounts, municipal and quasi-public corporations. Accounts of corporations: Publicity of Stock exchange, control of Accounts of railroads: Central Clearing House, advantages of Inspection and regulation Page. CCLVII-CCLVIII CCXLIX-CCLI CCLXXV-CCLXXVII CCLXXII CLVIII XX, CLXX-CLXXII Agreements between employers and employees (see also Arbitration): Longshoremen Railroads Alkali products, freights rates American merchant marine (see Merchant marine). American Telephone and Telegraph Company: Capitalization Relation to Bell Telephone Company. Relation to Western Union Telegraph Company CCLXX-CCLXXI CCLVI LXVII, LXXII-LXXIV CCLXXXIV-CCLXXXV CCLXXXV LXXIX American Ticket Brokerage Association, general organization Central Railroad of New Jersey, purchase by Reading Company Agreements between railroads as to prices and tonnage.. Allotment of tonnage CCXXVI CCXXVII -. CCXXVIII CCXXII XXIV-XXXIV CXXIX-CLXVI CLIX CLXI XXXIII, CLXI CXXXIV-CXXXV Lake shipments Monopoly, legal difficulties hindering New York Central Railroad, no interest in coal roads. Output, restriction and allotinent of Percentage contracts.. Relative rates under, and under tariffs Price of coal- CLXV-CLXVI CLXVI CLXV CLXIV-CLXV CXLIII CXXXIII CXXXIII XXIX-XXX, CXLV-CXLIX XXX-XXXIII, CXLIX-CLI CLI-CLIII Ownership of coal lands Reading Railroad- Receivership of CLI CXLV-CXLVI CXXIX XXXIV-XXXV CXXX CXXX-CXXXIV Reading Company, relation to subordinate coal companies, etc....... CXXX New England territory, attempt to enter Reorganization of railroads Supply, duration of Anthracite Coal Operators' Association Anti-scalping laws (see also Ticket brokerage). Arbitration and conciliation: Generally discussed Longshoremen Railroads.. Associated Press, alleged news monopoly Atlanta, freight rates. Atlantic coast line railways, consolidation, effects of CLVIII-CLIX CLIX CLVIII-CLIX XXXIII, CLXI-CLXII CCLXIV CCLXX-CCLXXI CCLVI CXIII LXX-LXXI CCXXXV-CCXXXVI CXVIII Austria-Hungary, telephone system. Baggage, checking of Baltimore, freight rates, coal Baltimore and Ohio Telegraph Company, rates Baltimore and Ohio Railroad, relation to Pennsylvania Railroad Baltimore Freight Committee, freight rates - Bankruptcy. (See Reorganization of railroads.) LXXX LXVIII Basing point system Defense of. Bell Telephone Company, relation to American Telephone and Tele- CCXII XCIX CLXXXVI XVI, LXXXII, CVII-CX CVIII-CIX CIX CCXXXVI CCXXVII XLVII-XLVIII, CCLIII-CCLV |