Note 2 — Monopoly; The Power Behind the Trust

Charles M. Schwab, in his testimony before the Industrial Commission at Washington in excuse of the apparently excessive capitalization of the Steel Trust, estimated as the approximate valuation of plants, mills, machinery and transportation properties the sum of $380,000,000, but the value of the ore, coal, natural gas and limestone properties he put at the enormous sum of $1,100,000,000.