The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-12-18

the lover and the father and Cornelius
became so enraged at his sons stub
borness that he had a stroke of para
lysis and he came near dying Cornell
ius has never recovered and it seems
now that he never will The papers re
Gently told how he was trying TO learn
how to write with his left hand so that
he could sign checks and important pa
pers- He has succeeded in learning to
write well enough in that way to draw
checks, but he cannot pretend to keep
up with the earnings. expenses, inn
pr0vements and interest charges of the
Vanderbilt railroads, Of which there
are many. There must be a head and
J P- Morgan is the man who has step
PED into the empty shoes For years
he has had one foot in them because he
represented mllllons OF dollars invested
by the English people in the Wander
p1Ir roads. Back in 1880 the Nanderbilts
solds30, 100000 of the New York Central
and Hudson River stock to the Eng
llsh- MT Morgan did not go ON the
CentraEs board himself but nominated
cyrus Field, Who represented his bank
ing house. Mr. Morgan was a great
uphOlder of the credit Of the Wander
bilt properties, and ne was closely iden-
tilted with the management Of the sys-
tenn. More and more the Vanderbilt
Ialnliy relied on him, and their rela-
tlOns grew closer and closer. He had
access to the books Of the railroads
and lt is said that he verified the fig
conildentlal experts who went through
the books from time to time
Now that the last fnancier of the
wealthy family has become incapacitat-
ed, ii is necessary to put at the head
OF the system some strong man in whom
the home, as Well as foreign. security
holders viii have confidence. DR.
0naunc6y DepeW is popular and is a
valuable man to have when it comes to
diplomatic work. He is q great iolljer
and is one of the smOothest LOBBYISTS
that ever set foot in Albany or any 9TH
en- capital But he is not Mr.. A0rgan's
sort Of man for the head Of the vast in
terests Besides he has always been
identified with the Vanderbilts NHr
Morgan wants man from his own firm
a the head and the most conspicuous
railway manager and financier assOciat-
go with MIN is Samuel Spencer, presi-
dent Of the Southern railway.
Mr. Stetson is an able LAWYER Mr.
Coster is a fine hnancier and reorga niz-
er- Nr. Spencer is a great railway
manager and Mr.. Spencer seems to be
the man who viii become the actlfal
head Of the properties He is one of
the most remarka Bile men Of this coun-
try. He is a director in railroads from
the Atlantic to the Pacific and he is
thoroughly familiar with the affairs Of
every one Of them
Whether he viii resign the presidency
Of the southern is not known but il is
Cornelius Nanderbit's place in the New
York Central This talk of a change il
the Central IS no new thing. Weeks ago
the Constitution mentioned the fact
Baldwin, Jr- going over to the New
y 4ork Central However. he is now en-
gagged 1n solving some great problems
On the Long Island road and it is n0t
likely that he would be taken out Of
that position until he has worked out
the solution Mr.. Morgan is said to hold
4lr. Baldwin in high regard. But the
New York Central and the Southern
railway are not the only roads which
u Flerpont Morgan has to hnancier
There is the Baltimore & Ohio. the
Reading, the Northern Pacific and ever
50 many more Tn all Of these the for
eign interests Hare very heavy Indeed
it is probable that the English own
majority Of the securities of some Of
them Wherever English money has
been put in these properties, the chances
are that j. Pierpont Morgan represents
them Fully 40 per cent of the New
York Central is known to be owned
abroad and the name Morgan is as
Wen known on Lombard street as on
Wall street. He is today on the fop
round Of the financial ladder Whatever
he says goes in this country to a great
extent. The New York World says that
nobody knows better than Mr. Morgan
the danger that might lurk in putting
w k Vanderbilt ait the head Of the
roads known by the family name.