The Birmingham age-herald., 1903-11-22


 in these properties during the last six months Is altogether likely. That they are doing this for the double purpose of putting their money into something that will bring good returns and having voice in the management of the roads is reasonable deduction. In fact, it is openly admitted by Standard oil people that this latter is one of the objects in view. The speculative ill-fortunes of many rich stockholders in Pennsylvania railroad compelled them to dispose of their shares in whole or in part to pro- tect themselves in other quarters, and 1t is the sitting out of this stock which has caused the decline in the security, This has been construed as a Standard Oil raid for the purpose of busting MT. Cas- satt. Nothing could well be more ridic- ulous. The Standard oil people. with enormous sums of cash to invest. have nnquestonably taken over considerable lines of Pennsylvania shares dumped over by foreign holders to tighten cargo, and they may have from $40 GOO, 600 to s50.- 100000 now invested in that quarter. This is considered. however, an extremely high estimate. Probably s25000,000 would be nearer the mark. As these things are guaged an investment of that magni-
 
 influence in the manageme t, although by no means giving control on anything like 1t.
 The men at the head of the Standard Oil are business people. They under stand fully that Mir. Cassait m opposing the Gould invasion of eastern territory was doing the proper thing from Penn sylvania standpoint. They would have less regard for him had he done other wise than to make 1t as hard as possi- ble for MT. Gould to get into Plttsburg or find an outlet to tidewater for Pitts burg traffic. Now, that the invasion is an accomplished fact, a softening in the Pennsylvania's front to conform some what with harmony of interest ideas may be looked for. To some extent this will undoubtedly be due to the fact that the Rockefellers are heavily interested in MT. Cassatt's road as well as in the Wabash and its eastern extensions That is very far from meaning, however, that MT. Cassatt is to be ignominously bounced from the management of the great system which he has contributed so much to up-build. The stock operations of individuals and representatives of large interests who happen for the moment to be in the pub | iiC eye dft, dS h Iult 6lGatit tAdbBff- ated. It not infrequently happens that men entirely unknown outside of limited circles deal in larger lines of stock than those who are supposed to be the star players. MT. W. K. Vanderbilt, for in- stance, was at one time terrific plung- CT in the stock market. His lines some times running as high as 250,000 and 30O- O0O shares. I know of two members of one family whose names are rarely men, toned in Wall street, who for three or four years played the market for 75,000 to 150,000 shares. neither one knowing that the other speculated. They were often arrayed on opposite sides of a deal. D. o. Mills Is so infrequently heard of these days that he has come to be re- garded as a back number, yet he is one of the richest men in the country and when he goes into a market 1t is to buy in huge blocks some security to which he has taken a fancy When Union Pacific, Atchison and Northern Pacific were reor- ganized he had trunk loads of certificates in these corporations which stock stood him s10 to $20 a share. Mir. Mills, how ever, is not a speculator. He buys things when they are cheap to hold. MT. Mills Is now a very old man, and those who claim to know something of his fortune say he Is worth at least $100, 100000.
 There Is no such thing as divorcing high politics from high finance. The meeting of congress has again stimulated speculation on the national campaign next year The election of Mir. Cannon to the speakership of the house Is calling attention to him as Presidential possi- bilty, in the event of MT. Roosevelt missing the nomination. Mir. Cannon Is we'll thought of in Wall street. although regarded as somewhat rude western proposition. He is a rich man., that is rich in the estimation of those of moder- ate views. and it Is said of him in the Street that he probably represents as well as anybody else could the safe mid dle ground held by the conservative classes of the west.