The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-10-11
No Man knows His Ambitions or Has
Any Idea What He May Do with
the Power He Possesses.
DIVIDEND ON STEEL COMMON
INTEREST ATTACHING TO RETURN
OF WILLIAM N. VANDERBILT.
ssIceman" Morse Cleans Up Large Prof
its and His Banks Are Found All
Right-Keene's New Alliance.


Special TO the Indianapolis Journal
NEW YORK, Oct. 1o.-Now that John d.
Rockefeller has become Ike acknowledged
king Of Wall street." greater interest than
ever attaches to the man. In all the
financial district there is no man of con-
sequence personally unknown to fewer in
cividuaIs than John ID. Rockefeller. He is
probably the most unsociable man in the
money world. He is not likable man and
avoids personal intercourse with humanity.
1t is next to impossible to obtain a personal
interview with him, and those who do meet
him say that he is as unresponsive as a
glacier. and as cold. Few people ever get
a rise" out of him. He is courteous and all
that, but never offers information, and even
to his closest associates he is as much OF
a mystery as to the general public. III. III.
Rogers, who is probably closer to him
than any man in the world not even ex-
cepting members of his own family, admits
to his intimates that he does not know
Mr.. Rockefeller, although he has been with
him for thirty-five years and has handled
more business for him than all others COM
bined. He said the other day in conversa-
ton that after thirty-five years of daily in
tercourse he felt that he could say that he
knew Mr.. Rockefeller "a little Bit" No
man living knows what Mr.. Rockefellers
secret ambitions are, or what he proposes
to do with his stupendous fortune. He does
lot look nor act like man OF overwhelm-
ing ambition. yet his performance gives the
lie to the theory that he is simply amassing
money for the purpose of seeing how much
he can get If he should live ten years
longer and continue as he has done during
the last two years, he will be worth 81
o00, 100000 and will have control of the trans
portation and industrial field of America
He Is the most powerful individual in the
United States, IL not in the world, and is
seemingly bent now adding to his
power and his fortune as he has been at
any previous period Of his career. The
mystery which envelops the man and the
universal ignorance as TO his secret plans
and purposes adds to the fear In which
he is held. In the fullest sense of the
word he Is wonder.
Beyond a question the reduction in the
dividend on Steel common was due largely
to the Rockefeller influence. The Standard
Oil party has from the start been against
paying dividends on the common stock, and
in that stand they have the support of Mr..
F'rick and other conservatives identified
with the property and familiar with the
iron and steel trade. 1t is by no means GER
tain that the per. cent. rate will be MAIN
tanned for any great period of time. The
action taken on Tuesday was in the nature
Of compromise. What is known as the
Morgan element favored the payment of
per cent On the theory that the great
mass OF holders of the shares had a right
to the money as long as the corporation s
earnings justified it. This party contends
that until the net income OF the company
falls below 500 900 a year common share
holders should receive per- cent. This
faction in the directorate has been de-
feated, and a start having been taken ON
the back track, there is no assurance that
the dividend will not be cut off entirely
within another year. Meantime the bond
conversion plan has been pushed along, and
1t will not be long now until 1t is COM
pleted. IT Is understood that many of the
members of the last Steel underwriting
offer TO withdraw from the combination,
taking down their bonds and paying the full
amount of their contingent liability-20 per
cent. That released securities held by Mr..
Morgan having a market value of some
thing like 900. Those who continue
in the syndicate believe that in some man.
ner Mr.. Morgan will wiring profit out of
the transaction for them. At present the
deal shows a heavy loss to the UNDER
writer's.
Mr.. w. X. Vanderbilt will be in New York
on Monday. During the long period of
shrinkage in the stock market nothing has
been heard OF Mr.. Vanderbilt. He has been
abroad most of the time and has apparently
taken no interest whatever In stocks. For
some reason the street attaches considera-
Bile financial significance TO his home-com-
ing. 1t is of record that the Vanderbilt
influence has been all-powerful in stopping
nearly every great slump in the wheel every
time it has been necessary during the last
twenty-five years. and although there are
now other interests in the field stronger
than the Vanderbilt. il would not be strange
if the present head of the family should
be able to contribute vitality to the
strengthening of the situation il is now
found There Is still magic i'm the Wander
bilt name, and If W. n should take a
decided stand. great weight would attach
to the action. During Mr.. Vanderbilt s
absence the Standard Oil party has accumu-
lated an immense line of New York Central
stock, and il will unquestionably have a
voice in the future policy Of the property.
Vanderbilts will be deposed from the man
agement, it being contrary to Standard Oil
policy to disturb conditions where they are
fairly satisfactory. The Rockefeller power
i'm the two great trunk lines, Pennsylvania
and New York Central, will be exerted in
favor of George Gould, and ii his way is
made smooth one OF the many purposes OF
| the Rockefeller Accommodations of the securi-
ties of these two railroads VIII be accom-
plished.
During one of the periods of panic in the
street some officious or malicious party in
| duced the controller OF the currency to have
a special examination made of the Morse
| chain of national banks in this city, about
| a dozen in number. These are the banks
| In which Morse, the 'iceman," bought con-
| troll a year two ago. knowledge that the
examination was being made passed along
| the line, and the bearish element was full OF
| gloomy forebodinss. All at once the mat
| ter dropped II now turns out that these
banks were found TO be in superb condition
| and the further fact has become known, in
! cidentally, that the 'iceman' has cleaned
up over 100000 i'm the stock market since
/ last November, having been persistent
| and consistent seller from almost the be-
| ginning of the decline. His operations were
/ on large scale and unvaryingly successful
| john Carroll, fer many years the right
hand man OF Boss Croker, was associated