The Savannah morning news., 1903-11-22

has caused the decline in that security.
This has been construed as a Standard
OIL raid for the purpose of ousting
Mr. Cassatt. Nothing could well be
moreTidiculous. The Standard Oil peo-
pie with enormous sums of cash to
invest, have unquestionably taken over
considerable lines of Pennsylvania
shares dumped over by foreign hold
ers TO tighten cargo and they may
nave from $4O,0O0000 to $50, 900 now
invested in that quarter. This is con-
sidered, however, an extremely high
estimate. Probably $4,000, 900 would be
nearer the mark. AS these things are
gauged an investment of that magni-
tude entities the parties making it to
an influence in the management, al
though by no means giving control or
anything like it.
The men at the head of Standard Oil
are business people. They understand
1ully that Mr.. Cassatt in opposing the
Gould invasion of Eastern territory
was doing the proper thing from a
pennsylvania standpoint. They would
nave less regard for him had he done
otherwise than to make it as hard as
possible for Mr.. Gould to get into Pitts
burg or find an outlet to tidewater
for Pittsburg traffic. Now that the
invasion is an accomplished fact a
SONNNAAAAAS Al Tic ITSUllSylNaTld 'front.'
10 conform somewhat with harmony
OF interest ideas may be looked for
To some extent this will undoubtedly
be due to the fact that the Rookie
tellers are heavily interested in Mr..
Cassatt's road as well as in the Wa
bash and it's Eastern extensions. That
is very far from meaning, however,
that Mr.. Cassatt is to be ignominious-
~ bounced from the management of
taI- l..
tributed so ably to up-buiId.
The stock operations of individuals
and representatives of large interests
VINO happen for the moment to be in
the public eye are as a rule greatly ex-
aggerated. 1t not infrequently hap
pens that men entirely unknown out
side of limited circles deal in larger
lines of stock than those who are
supposed to be the star players. Mr..
w. K. Vanderbilt, for instance, was
at one time terrific plunger in the
stock market. His lines sometimes
running as high as 25S0000O00000OOOO
running as high as 100000 and 300, 900
shares. l know of two members of
one family whose names are rarely
mentioned in Wall stree. who for three
or four years played the market for
10000 to $4,000 shares, neither one
knowing that the other speculated.
AhOy NCiS OlLeA dTTdyeQ on opposite
sides of a deal. D. o. Mills is so in
frequently heard of these days that
he has come to be regarded as a back
number, yet he is one of the richest
men in the country and when he goes
into market it is to buy in hugh
blocks some security to which he has
taken fancy. When Union Pacific
Atchison and Northern Pacific were
recognized he had trunk loads of GER
ti1cates in these corporations, which
stock stood him $40 to $40 a share. Mr.
Mills, however, is not a speculator
He buys things when they are cheap
to hold. Mr.. Mills is now a very old
man, and those who claim to know
something of his fortune say he is
worth at least 500 0O0,0 900.
There is no such thing as entirely
divorcing high politics from high fl
nance. The meeting of Congress has
again stimulated speculation on the
national campaign next year. The
election of Mr.. Cannon to the speaker
ship of the House is calling attention
to him as presidential possibility in
the event of Mr.. Roosevelt missing the
nomination. Mr.. Cannon is we'll
thought Of in Wall street, although
regarded as a somewhat rude Western
proposition. He is a rich man, that
is rich in the estimation of those of
moderate views, and it is said of him
in the street that he probably repre-
sents as well as anybody else could
the safe middle ground held by the
conservative classes Of the West.