Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-22
TERMS OF THE DISPATCH.
PITTsBURG, SATURDAY, NOV. p 1890
VICTORY OF THE MoNEY-sQUEEzERs

The confirmation of the report that Jay
Gould has secured control of the Union
Pacific concurrently with announcements
that the Rockafellars have gobbled the
Northern Pacific, indicates the true inward
ness of the squeeze in the stock market, and
is pregnant with indications as to the future
course of the transcontinental lines.
1t was very well known that the reason
why the decline IN the stock market went
bevond the normal extent that would follow
the complications of the London market,
was that certain powerful manipulators
were squeezing the life out of it In pursuit
Of their own schemes. A natural delicacy
has restrained those informed as to who was
squeezing the market from making specific
statements; but the appearance of certain
capitalists with numerous corporations in
their game-bags, gives the public iniorma-
ton as positive as the type of poster. Mr..
Gould pinched 20 such purpose as to gobbla
the Pacific Mail, Richmond Terminal,
Union Pacific and other unconsidered
trifes; while the Rockafellars have first
squeezed the gas out of the Willard balloons
and proceeded to pocket the property.
The declaration that this action of the
great corporate fnanciers was taken in con-
cert, and that the management of the pro-
pertv will also be in unison, foreshadows a
change of policy in the management of the
Northern Pacific. Mr.. Wizards role as
fnaneier has been in the creation of tower
ing corporations to the grief of the investing
public. Mr.. Rockafellar's, on the other
hand, has been in the direction Of squeezing
the legitimate interests dependent on the
combination over which he presides, and in
building a stable edifce of stock values on
the foundation of monopoly. Mr.. GouId's
talent has not confined itself to any par
ticular line. He adopts the broad view OF
the philosophical "NihiL alienum puto' by
regarding nothing as foreign to his methods
which enables him to gobble the money OF
the public. But the alliance of Gould and
the Rockafellars in the ownership of the
transcontinental lines, with Huntington
standing acQuiescent in the background,
means that, the art of stock manipulation
having done its worst, the final goal of the
campaign will be reached by the suppression
tinental lines.
While the details of the arrangement BY
which commerce is to be made to pay tolls
on the fictitious capitalization of these lines
remain unannouneed, the general features
of the move are stereotyped. Rates Will be
put up to d figure agreed upon between the
magnates of Wall street. Any competition
by ocean is to be shut off by Mr.. Gould's
possession Of the Pacific Mail. The assault
will be renewed on Congress to induce it to
forbid the wicked Canadian Pacific to re.
peat its contumacy in carrying freight fol
the people of the United States at less rates
Than the direct routes charge; and that the
millennium of high charges, profits on
bogus capital, and squeezing of the public
to the extent that it will bear, so long hoped
for by the stock interests, will be Inaugu.
rated. Its duration will probably extend
till the date of the discovery that the high
rates are killing business, when the great
capitalists NAV commence cutting each
other's throats with the same determination
which they are now directing to the squeez.
ing of the stock market and the public.
In the meantime the alliance of Gould
and Rockafellar is one that may well inspire
earnest thoughts on the part of the public
on the desirability of a corporate system
which will not be wholly at the mercy of the
most merciless and unscTupulous of the
great spectators.