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STOP!

I SAY. STOP!

YOUR GOAL IS REACHED!

You need not go another step to make thousands on a small investment of $10 down and $6 a month. Cease your hunt for opportunities. them all RIGHT HERE!

You have found the greatest of

The Millionaire's Security-Real Estate in Greater New York-Shall be YOUR security.

Ten dollars down and $6 per month until you've paid us $510 will buy a choice lot within 35 minutes of New York's famous sky-scrapers, in the wondrously fast-growing Brooklyn section-the district of which RUSSELL SAGE said (these are his exact words as published in the New York World of September 28th last): "BROOKLYN IS GROWING AT THE RATE OF 75,000 PEOPLE A YEAR." Then he advised as follows: "Young man, buy Real Estate, especially in the outlying boroughs, and then work hard at your usual avocation. Your Real Estate purchases will make your old age comfortable." Wise words, based on personal experience, for Russell Sage is without doubt one of the world's greatest investors and financiers, and his reputed wealth is $100,000,000.

Your money is absolutely safe with us, as twenty National Banks, Bradstreet's and Dun's Commercial Agencies, and over 30,000 customers who have dealt with us during the last fifteen years will tell you. Investments aggregating $3,461,000 during the past year represent the endorsement of our proposition by over 4,000 individual investors.

Remember, our offer also carries a free deed in case of death, a non-forfeiture agreement, a guaranteed increase of 25 per cent. within one year from November 1, 1902, a Free Round Trip to New York (East of Chicago or like distance), the highest class of park-like improvements free, your money back with 6 per cent. interest if not found as represented.

Let us at least tell you the whole grand story in detail-then

COME TO NEW YORK AT OUR EXPENSE TO PERSONALLY VERIFY

EVERY WORD WE'VE said

You simply cannot afford to ignore our offer. We know what we have, and the thousands who have invested with us know. You should know, and can know by filling out the subjoined coupon and mailing it to us. It costs 2 cents and a minute's time. Isn't it worth while?

WOOD, HARMON & CO., Dept. D14, 257 Broadway, New York

"There is no doubt the property offered by Wood, Harmon & Co., in the 29th and 31st Wards, represents one of the best investments a man of limited income can possibly make within the corporate limits of Greater New York, It can be said without hesitancy that Wood, Harmon & Co. are perfectly reliable, and are worthy the fullest confidence of the investor, whether he resides in Greater New York or any other section of the United States." -THE NASSAU NATIONAL

BANK OF BROOKLYN.

WOOD, HARMON & CO., 257 Broadway, New York.

GENTLEMEN: Please send full particulars of your New York properties and proposition to

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Vol. 73

The Anti-Trust Programme

Published Weekly

January 17, 1903

Apart from the action of the House in passing the General Staff Bill, which we have so often warmly commended, by a vote of 153 to 52, and the debate in the Senate on party responsibility for the tariff on coal, the interest of both houses last week was practically absorbed in the new legislation proposed for the regulation of trusts. At the very beginning of the week, Senator Hoar, the Chairman of the Judiciary Committee of the upper house, introduced his well-considered and unexpectedly radical bill, and the day following Attorney-General Knox, acting upon the requests he had received from the Senate and House Judiciary Committees, outlined the legislation he believed essential to cope with the evil of industrial monopoly. Were it not for the overshadowing importance of Mr. Knox's letter setting forth the programme of the Administration, we should describe in detail Senator Hoar's bill and outline his elaborate speech in support of it. At present, however, we shall only note that the bill applies to all corporations selling their products in other States than those in which they are chartered, establishes publicity for all their operations, and forbids attempts to break down competitors by lowering prices in specific localities or by binding purchasers not to buy of competitors. The programme of AttorneyGeneral Knox is more limited in its scope, but proceeds strongly along the line of dealing with the worst evils first and establishing in the courts the right of Congress to go further as occasion demands. The Attorney-General starts out with the declaration that the end sought is not the destruction of combinations, but their regulation and the correction of "the tendency toward monopolization of the industrial business of the country." In his judgment, he says, monopoly would

No. 3

be impossible in this country, where abundant capital is within the reach of capable and enterprising men, if competition were assured a fair and open field. The advantages of production on a colossal scale, he points out, are often more than counterbalanced by "the close economies possible through direct, personal, interested management.' "If the law will guarantee to the smaller producer protection against piratical methods in competition, and keep the highways to the market open and available to him for the same tolls charged to his powerful competitor, he will manage to live and thrive to an astonishing degree." With this view of the situation, he would restrict anti-trust legislation to the securing of equal freight rates and the prevention of what he aptly calls "predatory competition."

In order to secure equal To Secure Equal freight rates the Attorney

Freight Rates

General recommends that legislation be directed against those who receive as well as those who give the advantages of discrimination, and that the legislation against the recipients "take the form of penalizing the transportation of goods produced by the guilty parties, and the Federal Courts be given power to restrain such transportation at the suit of the Government." The Attorney-General points out that, "whatever Congress may have designed" in the Inter-State Commerce Act, that act "as construed by the courts" cannot easily be employed to punish shippers for participating in unjust discriminations. "The courts have held," he says, "that to constitute an unjust discrimination it is necessary to prove that at the time the unlawful lower rate was being granted to the favored shipper the higher lawful rate was imposed against another shipper on like commodities be

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