The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-06-04
NEW YORK FINANCIAL LETTER.
tspecialt 10 The Post

Z.
New York Saturday June r.--finaneiers VINO f'ake !"
their business keep posted with regard to bed rock p
for railroad development and extension do not see any nm
probability in the persistent report that Mr. Carnegie is pre-
pared lend substantial support to any tangible PROPOSE
ton for the construction of independent line OF railroad
from Psburg the seaboard Although Mr. Carnegie owes
the friendship Of the Pennsylvania railroad and It's
officials he did not always find that mighty corporation
pleasant bedfeow In his business career he not intre
queny ran against auty front and chafed at his ina
biy to find competing outlets for his traffic Friendly
his relations apparently with the Pennsylvania MI
Carnegie finally discovered that the companys Wall street
ties we're stronger than those which bound il to him,
The time came when the great iron master found he
could get when he had to believe that bu
for hostility they might have been secured Tor nm
He had seen that made many times against COM
peors that he knew what it meant and realized that az
last he up against wall he had seen HUNDREDS
thousands others their heads upon hopeessy and
heplessy He realized that move inspired against
him by the hitherto nvincibe OF Wall street against
which he parring in his announced campaign for the
expansion his iron and steel business and carrying
arrangements 1t chilled him to the marrow to be brought
face to face with the reality that in his old age he
would he obliged TO make the supreme fight OF his life he
persisted in going ahead with his plans,
A few days later when the man who had laid the iron
hand lightly upon the wonderful old Scotchman made him
magnificent offer for his properties price for quitting
he quit II he had been years younger he might have
made fight While the price paid him acceptable no
promise went from him that he would kiss and bless the
Mr. Carnegie intimately do find hard to believe the
that he will subscribe heavily in support OF honest
project for building railroad from Pittsburg to the
Atlantic seaboard 1t the Wall conviction that if
Messr Gould and Rockefeller do succeed in obtaining
control Of Erie Delaware and lackawanna early
date such line will be built and that in any Pitts
burg will be given another independent roadway to the sea
II Il
Close friends Of the family say Miss Helen Gould is
the inspiration behind the comprehensive plans for the
ton of the ancontnenta railroad scheme upon which her
brother George Gould is working They say that for years
she has exeted powerful influence in shaping the family
policy her purpose being the upbuldne OF magnificent
property monument her fathers genius The daugh
ter looks with upon her fathers memory and with
unbounded respect everything with which his
identified She knew him only a loving and devoted
father and closer to him than any member OF his family
She of him during the years he was devotine
himself to conserving the fortune which wicked world
charged he had made largely through railroad wreckinss
She only knew him builder and trustee OF the fortune
erected for his children and she hopes ferveny to live long
enough to his conceptions carried out in their funes
and ymery. grand transcontnenta system of railroad
controlled and largely owned by the Gould family would
satisfy her ideal what should done in honor of her
father She would like included in such a railroad
system all the lines with which the elder Gould had been
denhed or as many OF them could be moulded the
creation.
The panic incident the Northern Pacific corner not
only caused widespread financial disaster but left countless
traeeable directly that panic and among the brokers who
passed through the terrible ordeal of Black Thursday
there have been many breakdowus One dsy this weol
Broker Hedge went to his last as direct result Of
the excitement and strain His dying words we're Northern
Facihcl Northern Pachel The dying wall OF the stricken
broker was repeated the day stock exchange and
as passed from mouth 10 mouth general shudder swept
through the room. To il sounded almost like l,eu
and recalled to them their nerveshauered condition
y
The report comes back from London that the first Thin,
Colonel John W. Gates did arriving there was to t 20
ouy INTO MI charles T. erkes scheme for Yankeei1pe b
transportation lines OF the old world metropolis He is said
10 nave expressed an entire willingness to take anywhere IN
TO SIooooooo share in the Yerkes enternrses The .
stopped short Of the interesting fact whether Mr.
cepted the proposal or Trong in double harness A.
ferkes and Colonel Gates would make team, ,h I
"Ie LONDON out OF IT'S stagnaton and turn the old ol,
upside down MI Icrkes has taken about S,s ooo 600 90
american money with him to London and exneo, -
more han double in three four Years He will ada m
e speculation to has subway building and it is said he
intends TO erect along his lines Of travel nun,be IS
can methods 'rp'''su E>Iheri-
one OF the familiar personaees at the Wsjdos 49,. /
Is Hr' Herman frausch Of Cleveland Obi, NJ Et
"e VI 'ne fortunate individuals who has been raised H.;
e "u-mlionaire class by getting aboard the St,rII
Wv e'den some years ago He became valuable 10 the p,
N interests oy reason OF his wonderful knovIelo e
S"y auu MS discovery of mutiform uses 10 which -
"o'eum could he put He is quite an linasstmi,o No. -
faculty OF making and holding friends He rece,, WIN
masniheent home on Evcd avenue CLEVELAND h. s,'
about half OF his time in New York ~ = w. o' spends
--~1n-