June i, 1910.] 



THE INDIA RUBBER WORLD 



299 



Published en th» 1st of etch Month ky 



THE INDIA RUBBER PUBLISHING GO., 



No. 395 BROADWAY. NEW YORK. 



OABLB ADDRESS: 1RWORLD, NEW YORK. 



HENRY C. PEARSON, 



EDITOR. 



HAWTHORNE HILL, 

 ASSOCIATE. 



Vol. 42. 



JUNE I. 1910. 



No. 3. 



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TABLE OF CONTENTS ON LAST PAGE READING MATTER. 



To his Majesty King Edward VII the opportunity came in 

 an unusual degree to promote peace on earth and good will 

 to men, and right royally he availed himself of it. To no 

 mortal could higher tribute be paid. No one else, perhaps, 

 has contributed more to making the whole world akin — in 

 other words, to bringing the nations so near together that 

 every man shall be neighbor to every other. This sentiment, 

 we are certain, is appreciated no less in America than in that 

 older half of the English world in which our journal has such 

 warm friends. May the new King conclude his reign with 

 plaudits so well earned! 



But the old style denunciation of trusts has well nigh 

 disappeared, along with indiscriminate abuse of railway 

 companies, and of corporations in general. We always 

 have been convinced that if the principle of combination UBRA 

 in trade was sound economically it would prevail, whereas Nl 

 if not sound it could not be long maintained by any 

 means. Apparently the new system has outlined the < 

 strongest opposition heard in earlier years. 



It is not implied that legislation relating to corporations 

 has ceased ; doubtless new or amended laws on this sub- 

 ject will be "ground out" as long as laws dealing with 

 any relations between man and man. In other words, 

 regulation of corporations will be regarded as necessary, 

 by the corporate interests themselves as well as by the 

 public, but the idea of a variance between the one and the 

 other will be dropped. 



An important instance of such regulation appears in 

 the new federal law calling for publicity of corporation 

 affairs generally. This requirement has not been opposed, 

 except in details, perhaps, by the leading corporations, 

 and doubtless regulations agreeable to all concerned will 

 yet be framed. The railway and insurance companies 

 have become accustomed to making public the condition 

 of their affairs under legal requirement, and industrial 

 corporations make such reports in some of the states. 



But no legal requirement as to corporation returns 

 thus far has involved so much real "publicity" as is given 

 through some reports made recently by certain large in- 

 dustrial combinations. It is evident that these reports 

 have been made voluntarily, and that it is deemed to 

 be to their interest to have the general public understand 

 the condition of their affairs as well as the individual 

 shareholders. The education of the public mind as to 

 corporation affairs tends to legislation regarding them 

 less affected by popular bias or prejudice. Again, it 

 doubtless would be beneficial if the public more generally 

 were interested as investors in the industrial development 

 of the country — which tendency is likely to be increased 

 by greater publicity of corporation returns. 



PUBLICITY FOR CORPORATIONS. 



CONSIDERING the outcry only a few years ago 

 against the organization of industrial trusts, one 

 might reasonably expect even more in the way of criticism 

 to-day in the press and in political orations. The number 

 of so-called trusts has increased and their combined capi- 

 tal is vastly greater; they are selling more products to 

 more people, and making larger profits. If industrial 

 combinations were evil in principle in the beginning, they 

 must be evil in practice now, and especially when their 

 operations affect a constantly increasing proportion of the 

 public. 



GUNNING FOR "GOLD BRICKS." 



IT is an editor's privilege, sometimes his duty, to sit 

 in judgment on certain commercial undertakings 

 and warn the unwary. This is often easy, and can 

 be taken up with vigor and a measure of success when 

 proofs of attempted fraud are manifest and plenty. 

 At other times, while the editor may have an innate 

 conviction that an undertaking is unsound or fraudu- 

 lent, in the absence of proof he is scarcely warranted 

 in acting on an intuition. Of course, the easy way 

 and safe one is to condemn everything new. Then 

 one wins a reputation for forecasting failures, and in- 

 vestors in them wish that they had taken the prophet's 

 advice, while those who share in successes are so de- 

 lighted that they were wiser than their editor, that 

 they forget all but their own astuteness. 

 These reflections are prompted by the suggestion 



