The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1899-07-19
WAL STREET RgwS
Fenderbiits Big Deals Excite
the stock Oealers.

N+A-'a ''''taae NrNAhhhINs I MS mas excited
the more surprise because the general sun
position has been that the latter Interests
would effect a separate consolidation m
der Its own control. including probably the
Reading and come other OF the sntnracite
coal roads This surprise puts All expeota
uons at sea: and. while contributing 20
the underlying strength of the market.
has yet tendency to postpone opera-
uons until the directions and extent Of
these important movements are more
fully and certainly known. What has bee
already accomplished or f. IN progress
Of arrangement leaves little room for
doubt that large schemes OF railroad aff-
hation are In contemplation Even n The
whole extent Of Mr.. Vanderbits plans
have already been revealed yet It is har-
dly supposable that his precedents will
fail 10 be followed by railroad capitalists
IN other sections. 1t seems quite possi-
bic that these beginnings nav run into a
general reconstructions OF >latjons be-
tween the leading lines in the several ge-
ographlcal sections What new features
and relations may be introduced into the
working arTaingments OF the railroads
II Is impossible at present 10 Indicate That
large economies may be offered through
uniications of control. there can be no
doubt: and after such long and costly
competition among the divided interests
there Is reason enough TO expect gener-
al willingness TO consider whatever plans
may conduce to cheapening manage
ment while placing competition under a
more affective regulation There are not
a few indications Of a disposition to place
the various kinds OF transportation under
Joint control Il IS contended,-ani ap-
parently with sound reason.--that the po-
Hey most conductive to economy and har-
mony IS the one that would ally with the
railroad interest ocean steam lines. lake
steamers, river lines and canal routes. 1t
can only he a question OF time, when these
now separate and competing agencies Of
transportation will be put under Joint own
ership and management Naturally how
ever. such arrangements would. cat first
at least) be likely to be introduced IN
connection with the larger trunk systems
The smaller lines the feeders Of the
trunk roads. would present a different pro-
blem less easily controlled, and which.
Viewed ia the distance seems to suggest
less promising outcome II remains to
be seen how far that class OF roads may
be exposed 10 competition from automobile
carriage Sufficient has been already
achieved by this new appliance to place
II beyond question that the automobile IS
destined to become much more tha ma
mere passenger vehicle with further
perfection in some Of its minor details, a.
can be made available for carrying freight
4 4. IL.
ed highroads with greater speed and at
much less cost than by either horse power
or railroad. 1t thus becomes a question
OF great interest whether much of the
short-haul business Of the railroad Is not
liable to be diverted from the minor rail.
roads to this new means of transport
II is also a question under consideration
among engineers whether IT may not in
many cases be found possible to combine
the autombile system with the trolley sys-
tenn with advantage to both methods OF
transport II docs not seem likely that
these changes would make much head
way except in those parts of the country
where railroads are scarce and rates OF
travel and transport are comparatively |
high But those sections include a very
important proportion Of our agricultural |
area. II Is therefore a question that much |
soon force Itself upon public attention. as
% how far the second and third rate rail
'oads that now serve as feeders to the
runk roads are likely TO be affected by |
his new means OF transportation. Wall
Street must watch closely these symptoms
hat important changes In the transporta-
ion system Of the country are among the
possibilities Of the near future. The ques-
ion as 10 whether the automobile win
become an important competitor with the
maller railroads has however, another
ide 20 it.-neamely, whether the new mo-
or may not In some measure develop new
In contigulty TO those lines by
connection with them. At
resent these questions make little show
N the surface; but they are occupying
he earnest attention OF engineers and
ar-seeing practical capitalists, as among
he foremost transportation problem OF
he day; and investment interests must
oon begin 10 recognize their practical i'm
ortance
The banks ana trust companies OF the
Western cities are fun OF money at the
resent time As an evidence OF this. Chit
ago had made a considerable number Of
me loans during the past week TO Wall
treet houses on more favorable terms
lan obtainable from New York institu-
ons. which Is most unusual thing IL
mply represents an excess OF money over
le business needs Of the Western section
the country High interest rates in
eU York as st nresent will certainly
ntinue to bring funds here and will also
At a stop 10 further gold shipment 10
urope. There Is no Disgusting the fact
at the new collection charges recently
aagurated by the Bank Clearing House
ssocIation OF this city has caused the
osing OF a large number ot deposit ac-
UNITS which heretofore have been kept
re and which have been opened else
nere 20 as to save collection charges
lere has been. therefore, a considerable
version OF funds from this centre for
at reason. Besides this there have been
number OF millions Of actual money
Gently r-mitted Tor commercial pLr-
ses 10 our new possessions. especially
ba, Porto Rico and still more is likely /
follow from time 10 time.
'he peresent activity In money al the
ir great naneial centres OF che world
w York. London. Paris and BERLIN A.
oue TO want OF confidence and hoard Z
through distrust but is due 60 great
lfdenee an over the world In business
erests and increased commercial un- <
and thereby the greater uses
money This has a significant mean Il