The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-27
TO Fight ROCKEFELLER
OPPOSITION To AGGRESSION OF
STANDARD OIL INTERESTS.
j. r. Morgan, j. j. Hill, e. III. Harri-
man, A. j. Cassatt organizing to
Defeat Plans of Standard oil Party.
Special to the indianapolis Journal.

Special TO the Indianapolis Journal
NEW YORK. Dec 26.-The aggressions Of the
Standard Oil party have brought into being a
tangible and organized opposition. led by the
financial giants whose interests have been
threatened by the Rockefeller campaign. This
is shown plainly in the strengthening Of the
railroad alignment against the Standard oil
combination. This organized anti-Standard Oil
party has formed behind the stalwart figure of
]. Pierpont Morgan The leading figures in the
immediate foreground the Vanderbilts, Z.
| H. Hartman, James J. Hill and A. J. Cas-
satt; and on the side occupying independ-
| ent position, but with a decidedly friendly
Morgan leaning is the powerful Rock Island
/ group. Mr.. Morgan's immediate friends and
| following control almost half OF the railroad
| mileage of the United States. in the neigh
/ borhood of $4,000 miles. For a time it looked
as if the Rockefeller party had secured prac-
teal control of the Eastern trunk-line situa-
! tion through enormous purchases of Pennsyl-
vania and New York Central but later develop
ments tend show that the petroleum multi
millionaires fell snort in this endeavor and
that. largely on account of the conspicuous ad-
| vertisng Of their purpose 10 dominate, they
have driven into the opposition camp strong
| interests which leaning their way, there
by preventing, or delaying at least, the
cessful carrying out of the Rockefeller grand
The Standard Oil influence in the United
| States Steel Corporation is very strong, and
/ with the assistance of Mr.. Carnegie il may
dominate the future management Of that vast
industrial corporation. The loud talk which
was INDUCED in of bodily throwing Mr.. Morgan
| and his friends out of Steel is no longer heard.
however. Reprisal would certainly follow any
such violent attempt. The railroads controlled
| by Mr.. Morgan and his friends could ruin the
| dependent companies and building them up at
/ the expense OF the big combination. 1t has been
stated that two-thirds of the business of the
! of the railroads, and if this statement is any
| where near approximately correct 1t will be
seen at glance that It would be in the power
of the United States to strike back in the event
Of open warfare against their interests.
Manifestly. there could be no titanic battle
ard Oil and the Morgan groups. The Rockefeller
combination might do an immense amount OF
sde ndTdua have RS' already beeS
wrecked or scaled down by reason Of the bear
fenteS are oTea1 me tbsr evar before
for defense and have better understanding of
| the true situation and the dangers which might
aGaT & party as father s
| game and is at last up against stone wall.
There is excellent reason for the belief that the
| and have changed their policy to some extent.
| There is less disposition to ride rough shod over
| everything and everybody OF Independent views
| who may oppose the Rockefeller march This
| to a peaceful readjustment of financial and
| transportation conditions.
|
Progress has been made lately in the plans
| for closer relationship between the Wander
| bilt- Hartman railroad systems. and there
those in high banking circles who prophesy the
| merger, under corporate control of the
| Union Pacific and New York Central North
| western systems. Mr.. Hartman has been pull
ing away from the Rockefeller Gould associa-
| ton for year or more and is now recognized
| being a live. energetic factor in the Nor
gan Vanderbilt Harmon party Such a deal
| ha fba fr,,ffio Of ha old riyin
| Toa5 Of commandine induence The Vanderbilt
| Hartman combination represents, in round fig
ures at least, $4,000 miles Of railroad. with many
lines and properties in which there is part pro-
| prietaTy interest, such as Baltimore & Ohio
Reading. etc Relations between E, H. Harri-
| strained after the Northern Pacific corner, have
cordial b ,I Mr. HERMAN bG m i frequent
| & Co. and long interviews between the two
| fnancers are held.
| Presidential candidates and national politics
are becoming increasingly important factors en-
tering into speculative calculations. The Wall
| street attitude towards President Roosevelt is far
from being friendly. although it has dawned
upon the rank and file of the population of the
financial district that there is small likelihood
| of his defeat for the nomination That puts
| them up to the ballot box, and there is lively
| figuring for desirable opposition candidate
| The recognized mouth pieces in New York and
| Chicago of the Cleveland wing of the Demo-
cratic party are giving open support to the can
| ddacy of Judge Parker and they are openly
| antagOnistc to Senator German, who appears
| TO be the favor1te OF the politicians. The frank
statement is made by those who have the right
to speak for Mr. tbe ana S and ca ms
supply the campaign fund, they will expect TO
have their say in the convention. This an
nouncement is so phrased as to carry with it
a covert intimation that IL they are not given
didate and the framing of platform they will
shut their cheque books against the canvassers
that if Mr.. Roosevelt should receive the Re
publican nomination they will be glad to get
chance for doubt. according to Wall-street phil
osophy. Presented with the alternative of
Roosevelt or a safe man. as a Democratic can
didste, it is assumed that large proportion of
tIe CIeN elu az I'M toteu loI IN
and reconnect with their former political asso-
S am i H. =. go I+ - "a iiiI
| to continue until after the nomination and
possibly until after the election. months
hence
Notwithstanding the growing disposition to
talk national politics and make the most Of the
theme a dsquetng feature. there is a we'll
developed feeling in the street that, beginning
some time in January there will be a sustained
advance in prices extending through period OF
| up to within a couple of months of the national
sixty ninety days This will bring the rise
conventions Of the parties. Financial conditions
give encouragement to this theory. Money prom
ises to be plenty in the centers, particularly in
New York. There is almost a complete stop
| page of enterprises and funds piline
| up. This foreshadows a.se of cheap money
which will enable railroads and other solvent
corporations to secure such cash they may
need for financing purposes and to complete
improvements under way upon which work may
have been temporarily stopped 1t will also
make possible several refmdng operations
which are now in a state OF suspense.
+
The year is ending with extreme dullness in
the financial district The trading on the Stock
Exchange is almost entirely professional and
the commission and brokerage houses report a
continued absence Of public inquiry. At the
same time steady absorption of good securi-
ties is going and the speculative issues are
finding moderate favor with those who are in
a position TO take that kind of risks. There are
many inviting stocks at current range of prices
in the nOndividend- paying class, and these
issues are never without friends. The properties
upon which they based of the substantial
growing kind and the outcome is reasonably
certain. although the duration between now and
dividend days is problematical. or less
Among the lOw-priced stocks which have a fu-
ture may be classed Erie Reading Rock Island
Southern Pacific and Southern Railway.
The impression has been cultivated for years
that Mr.. John d. Rockefeller was utterly and
absolutely Indifferent TO criticism and that he