The Birmingham age-herald., 1903-10-18
BY JOHN MARTHOL.

Malicious men with wicked intent and tage of the peculiar, abnormal conditions prevailing in the financial center to dis credit legitimate enterprises and to CO., vertly assault with intimidation and in- nuendo the honor and integrity of MT. Morgan These men are wreckers. To them it makes no difference whether the pennies of the poor or the millions of the rich are lost provided they accomplish their purpose. They fatten on ruin. In Morgan they see man whose years of effort have been put forward in building up. To injure Morgan, to lower the public faith in Morgan, would be to shatter the pillar that holds aloft the roof of the fi- nancial temple. To so act that faith Tn the financing of the great United States steel corporation is impaired would best be accomplished by attacking Morgan, and for this reason are J. Pierpont Nor gan and Mr. George w. Perkins attack ed.
 Stock of the U. s. Steel is widely scattered. It is selling at ridiculous hg- ure. The timid have lost on their pur- chase: the wise hold on. Even at cut divi- dend it is a 10 per cent dividend payer at the present market rate. There is no req son to doubt the statements put out as to the earnings. The corporation earns It's sinking fund, it's interest on all its bonds, indebtedness dividends can be paid at the rate of per cent, and surplus IS being accumulated. This is true if the fi- nancial statement is true; it is false if the statement is false. If true United States steel, at the presen prices is q purchase; if false every official on the finance and executive committee should be sent to states prison. l believe the statement to be true. I believe the stock cheap. The capitalization has no bear ing. If the dividend was per cent on one billion of capital it would be equivalent to per cent on the stock bought at 20.
 MT. Morgan has protected steel stock in the market. He has acted with his characteristic generosity and some day the public will learn how he has stood between the small stockholders and the wicked combinations which have with enormous force and skill sought to drive out the small stockholders in order to ac- quire the control of the great industry steel. It has been battle to make of steel the monopoly that was made of oil.
 
 the brunt is between the one-man inter est on one side and public holdings on the other It Is to the interest of all the peo- pie that J. Pierpont Morgan is victorious.
 
 The mayoralty situation is one of pecu- liar interest It bewilders. Tammany claims to be good; fusion says: 'It is rot ten" Tammany says: We are the GUS todians of simon pure democratic prin- cipIes and fusion is disguised republican movement to control the machinery in the national election" The friends of Me- CIellan say he will make an excellent mayor and his enemies say he will strut in the cast off coat of Iceman Van Wyck and be the guardian of cadets pro- tector of lighthouses" etc. etc. The peo- ple will formulate their own opinions.
 It seems to me that George B. kcClel- Ian has served as Jacob of old served his seven years When elected the manhood in him will be as strong voice as that of Murphy-and for a purpose. asking MT. Murphy's pardon. I will assume that his is the wickedest voice in all of New York. will Mcclellan listen to the tempting voice of Murphy to let the cadet ruin the young girl and sell her into the bondage of the Red Light District? Will McCael- Ian license vice and turn the public over to be plundered by the police? These are