National Republican. (Washington City (D.C.)) 1872-1888, 1883-05-04
THE MAN ON THE AVENUE.
Small Talk About Men and Measure,

"The reason Blaine, Charlie Foster, and
other public men of that class make money
in Wall street when nine out of ton congress.
men, department officials, and their follow
ers who dabble in stocks lose is because they
get in on the ground floor aud issue and sell
bonds and stocks to tho crowd" said the
broker. "They start schemes, organize COM
panies, negotiate loans, float stock, bonds, &c.
and do not bet largely on other fellows gains
although they occasionally mix in for fly
ers.' When Blaine goes into deal of any
magnitude he gets all worked up have
seen him rush to and fro on 'change in per-
feet frenzy of excitement and act like mad
man for all the world, clutching his hair and
abandoning himself to the madness of the
moment. Charlie Foster doesn't like people
to know that he ever takes a hand in the big
game, but he occasionally dips in when he is
certain he has a shade the best of it. In such
deals he is n very heavy trader"
#Ss
Several months ago tho supreme court Of
the United States rendered an opinion to the
effect that the treasurer had no right to with
hold moneys due the Union and Central Pa
cfc railway companies on contracts with the
government for transporting mails, troops and
supplies over their unsubsidized leased lines.
The attorney general prepared an opinion
based on the decision of tho supreme court,
and the first comptroller Of the treasury is
laboring with the same problem. Wall street
had 1t Wednesday that the secretary of the
treasury had ordered the payment of claims
on government contracts for transportation of
mail, troops, &C., over the leased lines,
as described, and the lambs snapped at the
information as a new thing. The old traders
had discounted the news months before and
squeezed the lemon dry. Union Pacific never
budged under the influence of the startling
intelligence, although it was given out that
the company would come into divers millions
at once by reason of the decision. Comment
ing on the case a railway man said last even
ing: even though Secretary Folger Shout
issue an order directing tho payment of
money as set forth it will only affect claims
for dues in the future. The order cannot
take from the treasury the millions that
have been withheld under the opera
ton of the Thurman act during the
past four or five years If the
company or companies get that il
WA hoNO w po W NV Va SohSiooos hdl 10
the only way it can be pulled out of tho
vaults. 1t has been entered upon the records
and the company has been given credit on
account. doubt if twill ever sec cont of
tho money, and doubt whether the officers
and stockholders ever expect it. The govern
ment is that much winner. As tho two COM
panies named own 2,400 miles of subsidized
road and operate over 6,000 miles of leased
lines, the order, provided it comes from the
secretary as the Wall street people seem to
think, will make quito handsome increase
in their revenues, but not enough to effect
values to any appreciable extent. This thing
is fully understood by persons who keep track
of railway business, and there is nothing
sensational, startling, or new in the situa-
ton. The straw has been threshed several
times"
"There is very little comfort to be OK.
tracted from politics." said distinguished