The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-04-26
stands, imposes no hardship and leaves the
issues as they were

Xxx
A mass of evidence has been collected in
support, of the contention that there is an
anthracite coal trust, and these facts are all
to be brought out at the hearing before the
lnterstate-commerce Commission, now in
session in New York. The belief is very
general that the anthracite coal trust is a
great Dig fact and that 1t can be proved to
De sucn- Furthermore, that when the fuii
truth Is known officially the case against
the coal trust will be stronger than that
prepared against the Northern Securities
Company. The dangerous feature of the in
vesugation of the anthracite coal roads
that are operated in combination is that the
Reading Company, which is a holding COM
pany for a number of anthracite properties.
Is itself held by the Baltimore & Ohio for
and In behalf of the Pennsylvania Company.
1t is a complicated situation, and if the
facts developed before the Interstate-com-
merce Commission compel the Department
Of Justice to begin proceedings against the
combine the consequences may be far
reaching and vastly more disturbing than
those involved in the dissolution of the Hill
Morgan combination in the Northwest. For
that reason every phase of the inquiry will
be followed with the closest attention by
Wall-street interests.
The opposition to Charles NJ. Schwab.
president of the steel trust, died without a
flicker when it came to a showdown. The
faction in the directorate which had been
enormously attacking him from ambush
for more than year did not dare show it's
head at the annual meeting of the stock
holders, and there is slight probability that
IL VIII make itself openly manifest again for
some time. For a time Ii seemed as If the
conspiracy must triumph, for it was as
sured of at least the tacit backing OF the
Morgan interest, which dominates the at
fairs of the corporation. When il became
evident. however W. no
TO be set aside without fight the decision
was arrived at that ii would be the better
policy TO let him alone. Mr.. Carnegie made
1T bluntfy evident that he was still back of
Mr.. Schwab and would resent the retire
ment of the man who represented his inter-
ests- That was really what turned the scale,
Tor; although Mr.. Carnegie is not as active
as he once was there is living force in $500,
100000 of concentrated capital which might
be welded as club. Mr.. Schwabs powers
/ are not even curtailed, as was threatened
In the event of his retention. From motives
of self-interest affecting his health Mr..
Schwab will, of his own motion, throw the
burden of large part of the work upon the
mates, but he will still be the operative
head of the giant trust. Not more than a
week before the annual meeting Mr..
SchWabS opponents boosted that they had
his scalp and that they would be strong
enough to retire him. Their discontinue oc-
CURED in an hour, and they skunk from
sight, not TO reappear.
Mr.. ]. ]. Hill continues stubbornly de-
faint In the face Of the court mandate order
ing the dissolution of his Northern Secur-
tiles Company. He seems entirely unmind-
full Of the unanimity of opinion in support
Of the decision. That may be because Mr..
Hill does not read the newspapers and re-
fuses to have them read to him. 80 he says.
He told the writer not long ago that he
confined his perusal OF the daily press to
two New York papers and two st. Paul
papers. and for his New York pabulum he
contented himself with the morning edi-
ton Of the Sun and the afternoon edition
OF the Commercial Advertiser. He smiled
grfnly as he remarked that possibly the
newspaper writers would not devote SO
read what they wrote about him. 1 have
observed, however, that Mr.. Hill is very
| well Informed as to current editorial
| opinions touching matters in which he is
| interested, circumstance hard to recon
| cile with his confessed refusal to ''read the
papers" Mr.. Hill insists that the Supreme
| cult Court in his case and does not appear
| to be in the slightest degree disturbed by
| his consequences in this respect. In his
| isolation he is not unlike the man who de.
| Tended his habit of talking to himself, by
! saying that he liked to talk to a sensible
man, and liked to hear a sensible mar
/ talk"
John w. Gates expects to follow ]. Pier.
| pont Morgan and James r. Keene tt
Europe very soon. A great many of the
market leaders are laying plans to bt
| away from New York during the create,
! part Of the spring and summer and wei
| along into the fall. From this fact many
Of the experienced traders in the Wall
street district look for a dull stock mar.
ket until there is full assurance of another
/ bountiful harvest. There is an evident de-
| termination on the part of important in.
| terests to give the market a rest and allow
the public time to digest the leftover stocl
| Of securities. w. G.. NICHOLAS.