Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1903-04-20
TRUST MACNATES WORRIED
Northern sscuritie, Decision Interfsres
with Their Plans
LEGATIONS ARE NOW IN ORDER
Secresary shaw Starts One which
May Cause q Sensational shakeup
in the Treasury Depart
ment.
(From a STAN Correspondent)

(From a STAFF Correspondent
WASHINGTON, April 19.-(special)-
Men Of prominence in the world Of finance
and who make New York their headquar-
ters, who visit the national capital on
matters connecting with their varied busi-
ness interests, are roundly criticising the
| administration for the crusade against the
| trusts as exemplihed in the Northern Sc
| curities case. A friend of Jacob H. Schiff
| OF the powerful banking firm Of Kuhn. Loeb
! & Co. and a director of the Northern Sc
curities company said that Mr. Schir
stated to him one day last week that the
practical effect of the decision in the
| Northern Securities case was to place in
the hands of any ill-disposed person in
! official position the power to blackmail
| corporations and combinations Of indus
| tries. While there is much speculation GO
Ing on as to what the supreme court will
do when the case reaches that tribunal,
| conservative opinion is that the court Is
| likely to uphold the decision Of the circuit
| court Of appeals, and It would seem to the
/ unbiased mind that what was expected to
| be flash In the pan is likely to turn out
! very serious matter for mergers generally.
| There was a rumor in circulation in 1nan-
cial circles today that the appeal to the
! supreme court would likely be abandoned.
but well informed persons secuted this
| rumor and they went so far as to say that
men like ]. Pierpont Morgan and James ].
Hill were not the kind Of men to stop at
temporary defeat and that unquestionably
the appeal would be taken to the supreme
court in due season. The men who have
manipulated the Northern Securities com
pany are fighting for delay They need
| n vtht oh to, -,
the fight against the law officers of the
government and they see in an appeal to
the supreme court the time necessary to
mature such plans. As the supreme court
adjourns early in May for the season, the
case cannot properly come before 1t until
next October, and then II is doubted
whether the supreme court would promptly
take up the consideration of the question
In view Of the vital questions involved.
Morgan is Angry.
From a New York source It is learned
that Mrs Morgan is exceedingly angry over
what he regards as political play on the
part of Mr.. Roosevelt and 1t is understood
that the very greatest exponent of railroad
mergers is in favor OF setting the best
legal talent to work to devise a possible
means OF getting around the courts de-
cision and accomplishing the desired pur-
poses in other ways. One thing is certain.
the financial world has had Jolt which It
is not likely to recover from for some
time. The railroad kings of the country
have been awakened to realization of the
power possessed by that quiet hammered.
unostentatious lawyer who sits In the at
torney generals chair and who knows the
ways Of the trusts and railway combines
from the ground up. While Wall street is
keeping its courage up, the least move upon
the part Of the law officers Of the govern
ment to further inquire into other mergers
than the Northern Securities company
would, 1t is believed, bring on a bear raid
In Wall street, the effect Of which will be
felt for years. Both sides are alert. The
president means business and the country
Is watching the fercest financial battle
ever fought, with the hope that out of
the chaos will come something that means
protection to the people.
Investigations In the Air.
While the Postofice department is under
going shaking up such as has not been
witnessed for years 1t is stated that the
Treasury department is also to undergo a
housecleaning that seems to be very badly
needed. The air Of Washington seems to be
charged with investigation. Clerks who
have held office for many years are under
surveillance and heads Of bureaus tremble
when some innocent looking document Is
: posted calling for reports along certain
lines. The last investigation to be ordered
comes from the Treasury department and IL
directed against the rubber stamp. Las
January Secretary Shaw appointed a spe.
cial investigating committee to inquire into
the manner OF accounting in his department
! and to suggest necessary improvements
This committee is about ready to make It.
report and the disclosures which are ex.
pected will give a shock to Secretary
, Shaws well known insistence upon thu
manner of accounting. One of the mel
charged with the work Of investigation sait
, /, today that the public will be surprised Il
learn that millions OF dollars are paid ou
OF the United States treasury every yeal
without any authority other than tha
conveyed by the name OF some chief OF ,
bureau or division placed on an order will
a rubber stamp.
! Objects to Wrinkle.
L Secretary Leslie NJ. Shaw has had his por
trait painted by Chartran, who execute(
] portraits OF President Roosevelt, Secretar,
Root and Mrs. Roosevelt. The pose choser
3 by the artist is thoroughly characteristic
end true to life, the secretary being showI
in a standing position, wearing a frocI
coat, double breasted waistcoat, while boil
hands are thrust into his trousers pocke. S
. The friends Of the secretary have intimate,
that the pose is undignihed and that n
! should have kept his frock coat buttone,
and placed his hands behind his back. Tn
secretary does not mind this criticism, bu
! he does object to little wrinkle which Il
the living face is almost imperceptible, bu
a in the portrait is most marked so strongl
= has 1t been handled by the celebrate
:, Frenehman. In fact II leads one to believ
: that Mr.. Shaw has at one stage in hi
career been cut across the bridge OF tn
nose with a cleaver Directly above tn
l. bridge Of the nose Mr.. Shaw's face in re
> pose shows three distinct burrows o
d wrinkles. but the portrait painter has onl
, caught one, which gives an observer tn
u impression that the distinguished secretar
9 might haven fallen downstairs when an in