The Topeka state journal., 1902-11-15
Attempt Made to Curb Rock
Island Aggression.
Story of the Weeks Battle on
Wall Street.
MOORES STILL AHEAD.
Gates Clique Said to Have Lost
$S,OOO,OOO.
Fierce Raiding of Stock Market
by Fasteners.

chiefly Interested during the past week
in the fierce attempt of eastern finan-
ciers to ruin the Moore brothers. own
ers OF the Rock Island road, or cripple
! them so that their aggressive campaign
would be checked
At last accounts it is believed that the
attempt was failure, though it is said
that the John w. Gates and John A
Drake syndicate was hard hit by the
slump in Chicago & Northwestern stock
Gates and Drake are at the head of
western syndicate which last summer
made desperate fight for the control
of Colorado Fuel and Iron stock and
failed. It is said that the Gates CLIQUE
has lost heavily-how heavily cannot be
estimated with certainty, but certainly
not less than 1.050 900 by this DEAL
which added to the estimated loss of ST.
OOO,OOO IN Northwestern is a serious hole
In the summers earnings The over
throw of the Gates interests is believed
70 De the key of the fierce raiding OF
the Northwestern stock and the rise in
prices following the end of the raid was
taken as proof
In this resolution to punish the west
ernerS was seen the explanation of the
assaults that have been directed by the
/ Standard Oil and Amalgamated Copper
interests Their primary aim was to dis
! lodge William H. and James Hobart
Moore from their advanced position in
Northwestern, hur1 them back into their
| Rock Island intrenchments and there
pen them in positions where their possi-
| D4llt4cS VI becoming d great InanCldl
power would longer trouble the
/ dreams of the fasteners.
! The Rock Island road, it is pointed
! out has been thorn of rapidly increas
1 ing sharpness in the side of its westel Il
railroad rivals-the Union Pacific, the
Missouri Pacific and the other lines into
whose territory to the west and south
west it was pushing John D. Rookie
/ feller, E. H Hartman, George Gould
and the Vanderbilts principal owners in
those lines. declared that the time had
come to halt this aggressiveness.
If allowed to make 800. 600, 600 out of
/ their Rock Island securities conversion
scheme" it was pointed out, they
would become a factor to be dreaded in
the world OF finance. Let us curb the
] WeSte-rorS.''
Despite the denials that the Moores
had been forced to sell Wall street gos-
I sips had much to say concerning their
+ financial position. The bad slump
which occurred in the Rock Island and
American Can on the curb, stories of
companies which they have financed and
/ the enormous contraction that has oc-
/ CURED in the price of Chicago e. North
! western common since they sought rep
| company a the annual meeting in May
naturally disposed Wall street to eSti-
mate their losses.
Judge w. H Moore who was down.
town, appeared cheerful enough. Bank
ers associated with him denied the story
that block of 20, 600 shares of North
western had been taken over by the
! Vanderbilts. There is good authority
for stating that the Northwestern COM
mon at one time held by the Moores was
liquidated about two months ago, along
with large amount of New York Cen
trail
The selling of the 10000 shares of
stock by Messrs. Gates and Drake led
to the report that the Moore Brothers,
/ who are said to be the largest owners
/ of Chicag & Northwestern outside the
| int ha6 cCTd xl7niT
/ entire holdings to Mr.. Vanderbilt. This
report caused the common stock of the
Rock Island railroad to decline from
46A to Al, adding to the market de-
the First National bank of the truth of
the story caused it to rally quickly to 40.
1t is said that the Moore intrests will
retain all their stock in the Chicago &
in harmony with William K. Wander
bilt. The announcement of the settle
ment of the Chicago & Northwestern
: railroad fight was received with great
satisfaction in Wall street
Soon after the announcement of the
Northwestern deal on Tuesday, the list
ing committee of the stock exchange
announced that II had placed on tine
official Est the new securities of tht
Rock Island system and that these
stocks would hereafter be dealt in or
the exchange and quotations sent ou
over the ticker.
This gave the stock of the Moore
brothers an additional standing in tht
> financial world and caused a very de
cided recovery in all of their properties
, At the close Of the day the new Rocl
Island securities had recovered nearly
ten points on the curb.
The Moore and allied interests tried
unsuccessfully last spring to get into tht
, | Northwestern management and founC
, that the Vanderbilts were intrencheC
behind a provision of the rules govern
ing the company by which the bonds are
given voting privilege equal to the
stock dollar Cor dollar. AS the Wander
bilts own tha bonds it made but little
difference who owned even a majority
of the stock. The outside interest which
was frustrated on that occasion in it.
efforts to get into the government of the
company did not cease its warfare The
continuance of this is said finally tC
have become disa agreeable to the con: