Arizona republican., 1903-07-20

the lower uepInS- u iS SOIililciIlS DS Iieved that the Rockefeller interests for reasons of their own found the tale of woe" opportune.
 The railroad and industrial situation in the United States may be chased as the Eastern Mississippi and the Vest ern Mississippi interests. East of the great river are tho great commercial centres heavily populated. and the bulk of the nations industrial wealth. The experimental period is over. Railroads have gone through their critical per iods. Great cities are fixed. their fu- lures merely d matter Of growth in a direct ratio to time. Hence "the gilt edged properties Pennsylvania, New Haven and Hartford, Boston and Al bany New York Central Erie. Balti- more and Ohio, Louisville and Nash vile. Lake Shore. Michigan Central and Illinois Central. West of the great river a territory still in it's infancy. A country sparsely populated of in calculabls wealth agriculturally. and in mines of coal. iron, copper and gold. II will also be rich with industries. Its railroads, in time will haul enor- nous freights and millions of passen- gers. Yet, the problem of the future is to be worked out. The former is attractive to the investor, the latter to the speculator.
 It has been stated that the oil indus try has furnished the RoCkefellers with untold millions which need invest ment and further that within a def- mite period of time oil production will diminish. The New York Central be- comes an attractive proposition to the n f.IT +- remain at its head giving it the close attention that the three generations who made it did. The founder of the Vanderbilt family, "Commodore" Van derbilt. w H. Vanderbilt and Cornell jus Vanderbilt were men who worked many hours @ day. ". K Vanderbilt is an able man, but has more time for pleasure than business. The fourth generation. the sons of the late Cor nelius and William k., don't amount to much. It wouldI not be surprising therefore, if the hardworking John D. Rockefeller and his pious and equally industrious son. should secure con- trol. To obtain the stock it is necessary to cause ;imid holders to feel that something must be wrong" They read the something" in the quotations on Change. The price has gone down. The timid sell. No Vanderbilts stand ready to take it. but the Rockefellers are ready. 1T enough stock is released Rockefeller will control
 When an influence as powerful as Rockefeller is exerted to reduce prices so that they can acquire at a low price and they hammer gilt t-edged" prop critics, others must decline in sympa- thy. The Rockefeller scheme is always to buy so that an investment will net 6 per cent. When "gilt-edged' secu- ritiss that have been paying 3 per cent. on invested funds are hammered, thousands of shares which have been placed with banks as collateral for loans are forced on the market. And the Rockefeller banks can keep him pretty well informed as to hypothecat- ed securities.
 A comparison of the cost of New York Central and other gilt-edged in- vestments with the $2OO COG. .OOO issue of the United States Steel bonds, paying , per cent shows a ridiculous condi- ton of affairs. New York Central and Pennsylvania have sold as high as ITO and paid at those prices about 21z per cent. net per annum. At IA it pays
  pay at current prices over per cent. net; and as 1 have before stated, the company's net profits per annum are sufficient to pay the interest on the total bond issue for five years. Still in the prevailing bear movement the public is warned off the steel bonds. If the Wall street influence did not so humbug the public it would realize that funds invested in Steel bonds Central and yield a better rate of in teTest. Any one doubting this state ment should compare the net earnings of the railroad with the Steel com pany; also the decline in values and loss in the investment cf funds in either property curing a given period.
 The ready purchase of the Pennsyl- vania's recent issue proved that the public has money ready to invest. AL though a determined effort was made by bears to block the transaction it was made to prevail. So much for confidence. Will the New York Cen tral's application for millions in view of the raid on its stock values, be as successful? Time will demonstrate Yet it must be borne in mind that it's receipts have not diminished The on- ly question is will it's earnings suffice to carry a S25, COG, 900 or $30 0OO, ,0O0 tenn porary loan?
 It is interesting to compare the Penn sylvania and the Central with the United States Steel. The latter has