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 a Decline in Stock
Values Of Several Hundred
Millions.
Their Enmity Said to Have Caused
I Recent Pennsylvania--We Western
Union Fight.
r.,, york Sun sneoial Service.

New York Sun Special Service.
New York, May 27.--Wall street Is dis
GUESSING 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 $4,000, 600
syndicate to underwrite the new Pennsyl-
vanta stock issue and the stock market
fight ceases.
Spectators Are Surprised. q
In quarters where the news became
known the greatest surprise was ex-
pressed and 1t 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 1t would become a second STANDARD
Oil stock The stock had paid 8 per
cent dividend for many years. In 1901
the dividend was cut to per cent quar-
terly and subsequently to one-haf OF l
per cent quarterly. The stock brooks
from 100 to So. This break extended over
O. period of nearly two years.
- When the dividend was first passed
rumors became current that there had
been a quarrel between John D.. Rookie
Teller. 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 Annalganated Copper. generally at
tributed to William Rockefeller. The
Amalgamated Copper company was float
ed by the National City bank. The pro-
moters Of the company gave the public
to understand that the project was one
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
feller, Kuhn. Loeb & Co., Speyer & Co.
allied with the National City bank, have
recently formed syndicate to underwrite
the 1ast issue Of Pennsylvania stock and tc
protect 1t in the stock market from at.
tacks led by John D. Rockefeller. George
Gould and John D. Rockefeller, Jr. Now
1t is said peace has been made between
the warning factions and that John D
Rockefeller joins the Pennsylvania syn.
dictate,