Connecticut western news., 1893-03-02

The New York World of Sunday Feb. 26th published nearly nine columns con- corning the Reading railroad, and the rise and fall of the "Great Coal Con- bine." According to the World. Archi- bald Angus Mcleod is not such brainy man or skillful manager as he is gener ally supposed to be; neither does he de. serve the hackneyed term ''Napoleon of Finance" which has been applied to him. The World says that John Wan- amaker and Thomas Dolan. of Phila- delphia, have been practically tho man. aging directors of the Reading road and were the conspirators who concocted and formed the Reading Goal Con- bine," and wben the deal was accom- plished the price of Reading stock leap ed and bounded upward, as the conspi- ritors had expected it to do. Of course. Wanamaker and Dolan, as moving spirits in Reading, had laid plans for heavy profit. They knew that Reading stock would rise, and they had bought on margins as much Reading stock as they deemed it safe to carry. Wana- maker and Dolan did not care 2 rye straw about the evils to consumers that would attend a considerable rise in the price of coal. They proposed to make money, and they did. John Wana- makers profits on his Reading stock, bought upon his inside information of the coal roads' combination, were near ly $1, ,OOO, 900. Dolan held only about half as much stock as Wanamaker, who bought at prices ranging from $2O to &s2 share ($4O to $44 New York Stock Exchange standard. Wanamaker held at one time over 100, 900 shares. This transaction was trifle over one year ago. During the panic in Wall St., a few days since, Wanamaker refused to sell his Reading stock, but when his brokers ascertained he could not meet the margins demanded by them they got scared and sold out Wansmaker's entire holdings of Reading stock Based on the December valuation on Change, Wanamaker's loss was over $9OO, ,O00. Dolan allowed his holdings of Reading stock to be thrown overheard earlier during the panic and he escaped with a comparatively smaller loss.
 The foregoing is culled from the New York World, as before stated, but the spectacle to which we wish to call spe- cial attention is this, viz., the spectacle of John Wanamaker posing as 8 Christian and teaching Sunday school class in Philadelphia while his freight trains were running on Sunday in New England and disturbing religious meet ings. The trains were fragrant desc cration of the Sabbath, and were run in direct violation of the state law. Fur thermore, the petitions of the good peo- pie of New England to have the Sun day train nuisance abated were utterly ignored by the Reading combine" in which John Wanamaker was manag. ing director.
 A few men. often combine to control the price of the necessities of life. They may succeed for time in raising the price of coal, flour, meat, sugar or other necessities. They may turn deaf cal to the sufferings and distress of theil fellow men; may treat their petitions with contempt. but the same spirit o1 greed which forms s'combine" always leads the conspirators to overreach each other, and overreach themselves, and thus the very spirit which instigated the combine also causes it's speedy dissolu
 tion. Pharaoh of Egypt oppressed the Israelites. Modern Pharaohs may for { time oppress their fellow men; but sucf g panic as ragged in Wall St. on the 20tt ult is only another proof that there ii still God in Israel.