, 1873-10-07
ABAD TIME For VANDERD1LTB.

Is not unlIl.oly TINT New York will bo in Ho-
rous financial trouble for eomo timo to oomo'
Il appcare that tho olass Of capitalists who havo
roady money are clinging to 1t In tho boiof that
thoro will DO still creator shrinkago In htocka'
afrordlng thom bettor opportunities Tor In
vostment than Ut present. Tlii8 pohoy "lu he!p
to doprose tho market. It ie not possible to
forotoll tho extent Of this depression, or whoret
will bo folt most. Certain 1t IS, however, tha1
tho stock-Exchnngo will not escapo tho 1h1oc-
tiou, md It is probable TINT it will be tho hras
to succu1nb as It was throo wooks ago.
Thore is but ono gloam Of hope in this outlooR'
It may break down tho powor Of the mon "ho
havo nado Will Btrcot tho financial bodlam OF
tba country, and lop off somo OF the tontaeles
that tho pictures Of Amorica hnve fastened upon
tho l,;uhwaye OF tho East and West, tho North
and South, If. In tho course Of human evente,
something should occur which should loosen tho
Erasp that Commodore Vanderbilt and tho
Pennsylvania Company havo fastened upon TIC
throats Of tho American people, tho eresuls WOULD
bo compensation for much OF THO lnaa-
yidual suffering That it would occaaion
at tho samo tiule II wo are ovor to oacapo the
clutches OF those railroad ginnts 1t must DO
through some powerful convulalon that Will
oauao MI upheayal IN tho wholo financial eystem.
Ms, Vanderbilt must have boon ono Of tho
heaviest sufferers by tho crnsh in railroad stookS'
Tho fact. developed by the suspension Of ono OF
his brokers, tbat ho had hypothocated, In ono
"block," s1,5U0,0oo Of his stocks (at market
| ya)uo) among tnirty-thrco difforont firms, shows
| that ho WIS very hard-pressod. Whethor
thoro wore other cnses OF aiml-
lar nature, it is not possible to aay. For tho
prcseut. Mr, Vanderbilt ia rolioved from tho sac-
riflco he would otherwise have to auffor Oh the
salo Of those stocks by tho temporary INJUNCTION
issued BY Judge Dlatchford. This merciy post-
uouea tho aottlcmcnt. It there ahau bo clamor
| in Now York for more greenbacks. Mr. Vander-
bilt will probably bo ONO Of tho loudest hellowors.
II there is to be another collapse in stocks, Mr.
Yaudcrbilts List will DO among tho frat to feel
1t, owing to tho enormous strain already upon
hun. If 1t comes to tho worBt, nr. Vanderbilt
NAV bo forced out Of tho control Of Nc"
York Central and Harlem. If 70 hnyo tears
propuro to aond them thont -
The Pennsylvania Company. which alone Is tt
bo compared with AIr. Vanderbilt in power ant
uuscyupulousncsa, nuat likewise have boor
bndly crippled by tho monetary stringoncy an<
tho el,rinkago in stocks: Tho policy OF th'
peunsylvauia Company has been to extend i'll
system to tho extreme West, Southwest, ont
South with tho greatest raptdity at any cost. Il
uutsuing this policy it has leased upproductiv'
roads on rulnous torms. Tho proposed lease
tho Gilman, Clinton l. Springfield Railroad is
case in point. 10 secure it, tho Pennsylvani
Company olrorod to pny tue interost and princl
pal Oh u Credit Mobtlior indebtedness of NOR
thau twice tho actual cost Of tho road: This
hut one case In score or moro. 1t
! Fort Wayne lcaae WA hazardous one, base'
upon paying interest on largo amount Q
:. metured stock, for 900 years, regardless Of th
earnings Of tho property leased. Tho Ne'
Jessay @essaa vero equally hazardous. being dc
pondout altogether upon tie coutipuauco Of goo
tinos.
We mcroly indicate possibilities which lav
alreaay boon disccrncd by Intelligent people
No 1nan can look comp]acontly for more fnancis
troubles, no matter what compcnsatlng advan
tagos they may bring the country. But nc
= say that, If they como, they could atrike ne
= whcro with 30 little damage as in Wall street
!. mud, Furthermore, It they should break down th
far-reavhiug ambition Of great railroad king
;, tho result would be eventually in tho intoroE
:, . Of tho American people,