The Washington times., 1903-06-25
NEWS OF RAILROADS
AND OF RAILROAD MEN
Mr.. MOrgan's Task.


Now that J. Pierpont Morgan has ar
rived home from Europe in hurry. for
the purpose OF attempting to settle the
troubles threatening dire disaster 10 his
family of railroad and steamship
enterprises. it is more than probable
that the facts in the struggle between
President Cassatt, Of the Pennsylvania,
and the Goulds are going to become
public property. 1t is said that Mr.
Morgan has returned at the behest of
John ID. Rockefeller. who has become
nervous over the way in which some
Of the great combines are beginning 10
crumble, the apparent breaking up Of
the shipbUilding company being one
Of them. and the danger to the unity
of the steamship combine by the with
drawal Of the Cunard Line from il be-
ing another.
The Pennsylvania-W Wabash squabble.
and the consequent destruction of few
million dollars worth of telegraph wires
and poles seems TO have developed into
a condition liable at any time to bringon
a railroad war of prodgious proportions.
which possibility has also disturbed the
uneasy sleep of Mr.. Rockefeller. u is
reported that any number of ambitious
millionaires Of the type Of Senator
Clark. John W. Gates. and one or two
others. are waiting for just the oppor-
tunity such a war might provide 10
break into the erstwhile happy railroad
family in the East and divorce many
of them from the present boards Of con
troll.
The Eastern flnanciers have not vet
forgotten the nonchaIant ease with /
which Mr.. Gates one day swept into the |
market and seized the Louisville and |
Nashville system, ousting the surprised
Belmonts. toying with the property until |
he tired, and finally selling it at couple 1
Of million dollars profit 10 Mr.. Morgan. |
to become part of the latter's happy |
family, already referred to-
The comparative lack OF difficulty in /
accomplishing this coup has made the |
power of the Chicago crowd" headed /
by Mr.. Gates. a gaunt specter of unrest /
10 the men who are endeavoring to be-
nignly protect the family until it pos
5esses sufficient strength to withstand !
any Interior attack made upon it.
SO Mr.. Morgan was asked TO return
and straighten matters out Now that
he is here. II is a natural consequence
hat the railroad situation shall receive
Is much scrutiny as the reason for the
developed contrariness IN the
steamship enterprises. The sporadic
outbreaks are referred to as contrariness
because some OF the trouble is on be-
ween projects born Of MI Morgan's own
'rain. an instance being the accusations
hat President Charles Schwab. OF the
United States Steel Corporation, is re-
for wrecking the American
Company.
In the Pennsylvania Wabash imbrog-
10, however. Mr.. Morgan's interest is
aid TO be rather IN the abstract-sim-
ly fear on his part as 10 what the
rar may develop into. He desires 10
ompel conditions 10 remain in statu
10, and he does not like the idea OF the
Wabash forcing itself into a territory
here IL Is not wanted by the railroads
lready there. Naturally he intends. IL
5 reported, to try 10 put an end to any 8
lrther fighting. and in this line there
Ill come under observation the reported
rouble in the relations between GER
ain railroad presidents and the alleged
ttempts Of certain men 10 buy up the
ontrol OF the Baltimore and Ohio stock ,
is reported on a very good authority
hat these rumors have emanated all
-om one source. and that copies OF them !
ave been sent 10 nearly all Eastern
ewspapers for publication. which would Z
idicete that there is some kind OF
oncerted movement behind the affair. J
ACKNOWLEDGEMENTS capture OF the Louis
He and Nashville, there may be some
gnihcance in this Anyway, all in all.
has been enough TO set the Chicago :
-owd" specter in motion. and to make 7
lie Eastern inanciers, who are not alb =
)lutely sure OF their position take a r
ew grip on their securities. $