HEWS BY THE MAIL.

Gisborne Times, Volume V, Issue 55, 6 March 1901, Page 2

HEWS BY THE MAIL.

GIGANTIC MONOPOLIES IN CONNECTION WITH RAILWAYS. THE POWER OF MONEY. COLOSSAL DEAL AGGREGATING TWO & HALF BILLION DOLLARS. (Per Ventura at Auckland.) 'Frisco, Feb. 14. The Harrimon syndicate has secured by purchase the Southern Pacific Railroad, and at the same time the combination secured the Morgan Steamship line, and Pacific Mail Steamship Company’s holdings. Tho Vanderbilt combination is behind the deal, and under the new arrangement twolve or thirteen men have' control of more than 25,000 miles of railroad. The Vanderbilt system now includes tho Union Pacific, Central Pacific, Kansas, and Texas, and Kansas, the southern railways in the west as well as in the complete system covering the Eastern States hi a net-work. It is believed in California that the policy of the now management of tho railways will bo much more liberal than that followed during the lifotimo of the lato Collis P. Huntington, whose death inado room for startling changes. Of course, matters will be kept on a business basis, but it is hoped tho Vanderbilt scheme will be to build up the road by aiding tho development of the country, rather than by tho more short-sightod plan of taking in tho profits “ All the traffic will bear,” according to the consistent system followed by Huntington. It is felt that the change has already borne some fruit, since the Southern Pacific aud Santa Fe railroads are already giving what aro termed “ colonist rates ” from eastern points to California. The authorities themsolves profess to be astonished at the responso that tho pooplo have made to tho somewhat liberal offers. Tho ticket offices at Chicago and other poults are crowded on tho days when tho the colonist tickets are on sale, and it is evident the population of California will be aggregated in somo moasure. A COLOSSAL DEAL. AGGREGATING 21 BILLIONS.

Another colossal “ deal ” has boon carried through within tho past fortnight. Tho Morgan-Rockfoller Syndicate has purchased tho Carnegie and other steel plants and interests, worth in tho aggregate nearly two and a half billion dollars. AVall street, which is itself accustomed to million-doffar transactions, is amazed at this first billion-dollar purchase.

The iron and steel interest of tho United States will bo practically under tho control of one man, J. Picrpont Morgan. Tho plan of consolidation has boon under way for two years, and great diplomacy lias been used in working it out. Corporations which could not be purchased have found their sources of supply cut off', and all sorts of methods have been used to crowd competitors to the wall. It is felt tliat the condition of things is alarming since such a syndicate has the power greater perhaps than can be held under Government control in any degree. Resolutions have been offered in Congress looking to tho control of such trusts, but it is acknowledged that the only solution will be in a system of taxation which will act as a check. Tho difficulty oi securing such legislation under the circumstances is obvious. An amendment to the Federal Constitution would bo necessary, and this is not to be easily secured when such tremendous financial influence can ho brought to bear on the question. Only the extreme measures suggested by the Socialists seem to offer the actual solution of tho problem of trusts, and it is not believed that tho time is ripe for any radical measures since tho majority of people observe that the trusts confer lar-go benefits, although tho system is attended by grave dangers. THE AFFAIRS OF CONGRESS. THE HAY-PAUNCEFORTE TREATY. The Congress of the United States is still wrangling over tho Army and Navy Appropriation Bills. Senator Hanno has resorted to all sorts of tactics in the effort to secure tho passage of his Ship Subsidy Bill, but nothing has as yet been accomplished. It is now believed that tho British Foreign Office will not approve of the Ilay-Paunceforte treaty as it stands, and that so much time will be consumed in the consideration of terms and exchanges of conclusions between the two interested Governments, the treaty will expire by its own time limit. Tho British are not of ono mind with regard to tho proposed abrogation of the Clayton; Bulwer treaty, and some officials have reflections as to the right of the United States to force the abrogation.

ACCIDENT TO STEAMED YEN TUEA.

FIVE MEN KILLED. The steamship Ventura had an accident while on the way from Philadelphia, where she was built, to San Francisco, from which port she leaves to-day for her first trip to Australia. I3y the explosion of pipes in the engine-room five men were killed. RIOTING IN SPAIN. At present all eyes are upon Spain, where rioting appears to be of serious import. Some despatches use the dreaded word “ Revolution.” The funeral of Don Ramon, the Compomaor poet and philosopher, was attended with serious disturbances. The cause of the uprising appears to be an attempt to arrange a general holiday and festivities in honor of Austria’s Bourbon marriage. All this had to be abandoned on account of the attitude of the people. On the evening of February 14th, every approach to Puerla del Sol was jammed, and insulting remarks were hurled at the police ail'd civil guard. The trumpeters sounded a charge, which was made at full speed. Heads were not spared, and many persons were injured. All front doors of the Hotel Do Paris were smashed in, a great crowd assembling there. The police and guards charged through the streets, but the crowds quickly reassembled. Earlier in the day immense crowds gathered along the route taken by the funeral cortege, and considerable disorder marked the passage of the procession, but the troops stationed at strategic points prevented any very formidable outbreak until the end of the city was reaehed. At this point the demonstrators, who included many students, raided with the cry “ Long Live Liberty,” and breaking up into small parties, proceeded to various parts of Madrid to renew the demonstration. One band of students stoned a convent in the evening. The riots took place at several points, and the police were attacked with showers of stones. The authorities warned the newspapers against publishing news or making comment calculated to fan the agitation, An alarming feature of the trouble is its wide-spread nature. While all this was [ going on at Madrid a mob stoned the offices of the Catholic journal at Satander, crying “Down with the Jesuists.” The gendarmes had to fire a volley into the air and charge the mob in order to save the Carmelite monastery, from which the monks had fled in terror. The rioters fired several shots in reply and then marched through the streets. When passing the Carlists’ houses the occupants threw water on the heads of the rioters, who stoned the houses. Thousands attacked the convents and the Bishop’s palace, and looting was freely indulged- in. There were attempts at destroying church properties by burning. At Barcelona the mob made a threatening demonstration in front of the Jesuist college, but was dispersed by the determined action of the police.