The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-27
John D. and William Patch Up Their
Difficulties and Peace Reigns
Again.
Trouble Caused Decline in Stock
Values of Several Hundred
Millions.
Their Enmity Said to Have Caused
! Recent Pennsylvania--W
Union Fight.
New York Sun Special Service.

New York Sun Special Service.
New York, May 27.--Wall street is dis
cussing an amazing story Of a war In the
stock market between John D. Rookie
Teller and his brother, William Rookie
Teller, which has finally been patched up
after a. decline in stock values OF several
hundred millions of dollars.
The recent bitter fight between the
Pennsylvania railroad and the Western
Union Telegraph company, owned by
George Gould, John D. Rockefeller's ally,
the bear attack on Pennsylvania and on
ST. Paul and the resignation from the
directorate of the City bank of John D.
Rockefeller. Jr.. are incidents Of the con-
test BY the peace compact arranged be-
tween John D. Rockefeller and A. J. Cas-
satt, president of the Pennsylvania rail-
road, the Western Union will not be mo-
Tested further. Mr.. Rockefeller becomes
the largest subscriber to the 500O,0 900
syndicate to underwrite the new Pennsyl-
vania stock issue and the stock market
fight ceases.
Spectators Are Surprised.
In quarters where the news became
known the greatest surprise was ex-
pressed and it was thought that under
this impression the public would subscribe
literally for the stock at par. and as a
matter Of fact before its issue 1t sold at
1879 on the curb. It was freely predicted
that it would become a second STANDARD
Oil stock The stock had paid per
cent dividend for many years. In 1901
the dividend was cut to 1 per cent quar-
terly and subsequently to one-half of 1
per cent quarterly The stock broke
from 100 to So. This break extended over
O. period of nearly two years. -.
a When the dividend was first passed
r1mors became current that there had
been q quarrel between John D.. Rookie
feller Sr., and his brother William over
the. part the latter had played in the
Amalgamated Copper affair. 1t was said
that John D. Rockefeller blamed his
brother for having allowed his name to
be connected with the scheme. Men in
the financial district believe that the Bit
terness Of the fight between the Pennsyl-
vania and the Western Union was really
caused by the split between the two
Rockefellers.
Beginning Of Trouble.
The friction which is said to have ex-
listed between John D. Rockefeller. Sr.,
and his brother, William Rockefeller, be-
gan at the time Of the famous bear raid
on Amalgarated Copper generally at
!. tributed to William Rockefeller. The
Amalgamated Copper company was float
ed by the National City bank. The pro-
meters Of the company gave the public
10 uiiu5iSldii0- IiAeIt Liz pAoJooI W as Noiic
Of Rockefeller, Sr.'s and had his support.
John D. Rockefeller has been lending his
whole influence to support Mr.. Gould and
the Western Union while William Rookie
Teller, Kuhn. Loeb & Co., Speyer & Co.,
allied with the National City bank, have
recently formed syndicate to underwrite
the1ast issue of Pennsylvania stock and to
protect it In the stock market from at
lacks led by John D. Rockefeller. George
Gould and John n ROckefe11er Tr Now
1t is said peace has been made between
the warning factions and that John D.
Rockefeller joins the Pennsylvania syn
dictate.