The Topeka state journal., 1903-05-28
Gould Is Seeking Revenge OF
Pennsylvania Railroad.
AFFECTS ROCK ISLAND.
Said to Be Diseord Among Heads
Of That System.
Atchison Stock Suffers in the
General Decline.

During the present week a fierce war
has been in progress on the floor Of the
New York stock exchange. in which the
recent controversy between the Penn
sylvania railroad and the Western
Union Telegraph company lGould)
seems TO be continuing
Without apparent cause the stocks
controlled or supposed to be under the
Influence OF the contendlug factions
were hammered down. some so much as
TWO 10 four points. and liquidation was
on an alarming scale
During the latter part Of last week.
after the Pennsylvania railway began
Ihe tearing down of Western Union
wires and poles along IT'S lne. there
were rum0rs that retaliation would fol-
low These stories were heard On Wall
street and resulted in considerable SELL
ing Of securities which might be affect
cd IN a suaneial war OF such gigantic
interests. The stories brought Ia mause
of the foremost capitalists OF the coun-
try and those ln control OF the prIH-
-eipal railway ard industrial enter
HAS ROCKET ELLER JOINED
COULD
One Of the NEST persistent stories
was THAT the Standard Oh interests, So
called. 1ecal Of their large stock own
ershiD in the Missouri Pacific raIlW9 y.
have allied themselves with the CfouHs
interests and in conjunction with the
Goulds have been conducting a bear
campaign in The market against Penn
EylVanla stock iu audeaF0r I'd carry
its prices under 129 the price d<ad og
rhe directors for stockholders To sub
scribe for the pending issue OF new
stock This attack was In the ia ture
the story added. of revenge Tor the de-
structlou Of the Western Union rele-
grauh lines
While those on both sides concerned
were guarded il their statements anu
made light of the story. it nevertheless
circulated
StIl another story that had the stan
dar1 OH men hitched 10 it was Go the
erect thar they had been attacking the
market in order to buy New York Cen
rral stock and perhaps increase thel-
holdings in that company TO con-
rr0Lir@ interest.
In addition 60 capitalists referred to
In Saturdays rum0rs. who were al
legged Co have been compelled 60 dispose
or their St Paul United States Steel
Atcnlson, Union Pacific. and other
STOCKS a new name was dddel-a man
Identified with the steel trust. who also
IS connected with other enterprises AS
n 10 give color TO This soma OF the
heavisst liquidation came from Pitts
burg
on the other hand there was evidence
that strong bear parity in which are
several EIrtsburg men. was at work
trying TO depress the entire List and il
was coujectured that these men might
be accountable for the circulation Of
some rumurs about capitalists ia
trouble.
The apparent failure OF the Pennsyl-
vanta railway company to float IT'S adj
diri0ual stock issues. unaided coupled
wt4h the alleged failure Of the United
states Steel company s. stock conversion
plan and the uncertainty as to the last
mentioned iu the absence Of any official
statement on the subject all contrib
uted. it was said, TO destroy confidence
unsettle the market. and keep the pub
lie away from it,
FRICTION IN ROCK ISL4ANDe
Then In addition to- these reasons To tc-
count fer the stump st was said that rhere
has been serious falling our among the
heads ct the Rock Island system on cues
tlous OF policy and exuediencv affecting tn
management 0f thar property These rrer
are as Is well known. large holders OF