BREAD TRUST FAILS.

Gisborne Times, Volume XXVIII, Issue 2740, 19 February 1910, Page 3 (Supplement)

BREAD TRUST FAILS.

BAKERS ATTEMPT TO CAPTURE

NEW YORK

The plans for creating a gigantic bread trust, which was projected for New York and its vicinity, have failed, according to the' latest reports. The idea of the company was started in St. Louis, with millers and capitalists from other cities in the M r est, and New York was to be- taken by storm and dictated to about its daily food.

There was fully £3,000,000 behind the project, but, fortunately for the people, and unfortunately for the inceptors of the plan, the "great baking companies in New York failed to be interested in the scheme, and without their co-operation nothing serious could be attempted. The Westerners have not quite given up the struggle, and are seeking to interest other big cities in the East.

Bread, however, and food of all kinds is already so dear herb that a further rise in price would be a grievous hardship to tli© poor, and a trust for its sale would •ruin Shu ndreds of small proprietors in and about the city. Liv. ing is altogether higher than a year ago, and during the last five years foodstuffs have risen by mute one-third. Owing to this condition, Mr. Charles Sprague Smith, the well-known lecturer of Colombia University, and the head of the People’s Institute in this city has sent a strong demand to Congress for a federal investigation of the. advancing price of foodstuffs. Mr. Smith charges tho Beef Trust and other monopolistic concerns with steadily raising the price of food to the people, while paying enormous dividends on. their stocks.