The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-08-16

that a working arrangement as to output
has been entered into between the Stand
ard OIL owners of Amalgamated and
Senator w L. Clark, owner of valuable
mines in Montana and the famous United
Verde. 1t is no longer denied that the
Amalgamated Copper interests have Sc
cured control of the Greene copper mines,
and it is also said that the Calumet and
Helca hat at last indicated a willing
ness to come into the combination. This
deal will bring into harmonious relations
interests representing more than 80 per
cent of the production of copper in the
United States, the Dominion of Canada
and northern Mexico
A circumstantial and interesting
story is told of the manner in which
Colonel Greene was held up by the
heels and shaken OUT of his holdings
in the mine which bears his name, an OPP
Grafton which resulted in the passing of
the control of that property to II. II.
Rogers and his associates. The MARIA
tive has not been denied and passes as
current news. 1t enters with great detail
| into a recital of how Colonel Greene
something like a year ago borrowed
| $500, 600 of H. H. Rogers on $4,000 shares
of his stock then having a market value
of about $35 a share 1t is then related
that few weeks later when Colonel
Greene called on Mr.. Rogers to pay off
the loan he was urged to defer the OPP
| Grafton and to invest the money in st.
Paul, Amalgamated Copper, New York
Central, and other stocks in which
Standard Oil interests are large. Later
| when Colonel Greene found his margins
running low he asked another loan OF
$5O0,000 Mr.. Rogers did not happen to
| have the money to spare at that time
| but gave him a cordial introduction TO
one of the leading Standard Oil banks
where he obtained the loan on deposit
| of 50, 900 share Of Greene Copper stock.
He was induced to make the amount
100000 instead of 100000. Still another
loan of 100000 was made on the last 3d.
600 shares held by the doctor. Meantime
| the securities in which he had been
urged to invest kept going down and
down and down, additional purchases be-
| ing made on the decline for the purpose
| of reducing the average, as spectators
! say. The climax came when the colonel
upbraided Mr.. Rogers for putting him
| into the stock market. Mr.. Rogers be-
came rghteously indignant that he
! should be held responsible for the colo
nels unfortunate speculations and the
| interview is said to have ended with a
peremptory demand on Mr.. Rogers part
| the
early in the game Not being in posi-
| ton to respond the colonel was obliged
| to stand by and see the slaughter of his
| securities and to see all of his lines
closed out leaving him stripped of his
| $4,000 shares and control of his property.
| A few days ago the Amalgamated Cop
per interests signalized their victory by
sending man from their mines in Mon
tana to take charge of the Greene Copper
| mines.
The new bank formed by the CONSOLE
dation of the National Bank of Com
merce and the Western National bank
is by reason of it's own strength and its
allied interests, the strongest piece of
| banking machinery in America, outrank-
| ing even the National City bank with its
s25, oOo0 900 capital and $15,oO0000 surplus.
I The National. Bank of Commerce has
| long been regarded as a distincuvely
| Morgan institution, j. Pierpont Morgan
| having been vice president of 1t for many
years and its actual acknowledged head.
| In the consolidation the Morgan inter-
est becomes of secondary importance. 1t
| is now in reality Standard OIL bank by
reason of the Standard Oil control of the
insurance companies and trust compa-
MES having a majority of the stock. The
Standard Oil banking alliance includes
! also Kuhn, Loeb 81 Co, a concern whose
| financial Operations have for years been
second only to those of j Pierpont Nor
gan and laatery overshadowed the late
king of the street" | use the term
late king for it is now acknowledged
everywhere that Mr.. Morgan has been
| deposed and his crown placed upon the
head of John d. Rockefeller. The latter
and his associates have become so i'm
mensely srong and their interests so va
ried that they are admittedly all power
| full. Their supremacy is not disputed In
any well informed quarter. Standard Oil
! money and Standard Oil talents now
dominate the New York banking field
half-dozen or more of the great indus
tries, and the eastern trunk line railroad
| situation. Their holdings in New York
Central. Pennsylvania, Baltimore and
Ohio, and Reading are now so large that
while not constituting an actual MAJOR
| ity ownership their influence is para
mount They could If desired, take ac-
tual personal charge of all the trunk
| lines in the east. with the possible excep-
ton of Pennsylvania, and even there
their power is acknowledged. Pennsyl-
| vania had to bow the knee before it
could carry through its last financial
deal, and to virtually take the kerosene
kings into partnership.
| People are wondering how 1t Is all 60
| ing to end. They are specializing ear
nestly as to what means may be neces-
sary to check the aggregations of this
aggregation. Standard Oil money is pill
| 'ng up so fast that In legitimate efforts