The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-24
THE WEEK INWALL STREET
FURTHER DETAILS OF THE ROOKIE
FELLER-HARRIMAN PLANS.
II. Paui, which Is Owned by Standard
Oil Crowd. May wrest Away from
Hill the Northern Pacific.

culation in banking circles. For the
moment Mr.. Hill seems TO have
gained a tactical advantage in his
fight for the. possession of his own,
hut the belief gains ground that his enemies
viii not desist from their attempts to over
throw his power until they have accom-
plshed their purpose. The theory finds we'll
advised Judgment that the Rockefeller-Har-
riman desire is TO parcel the properties
of the Northern Securities Company that
St. Paul will get the Northern Pacific and
that Hartman will be given the Chicago.
Burlington & Quincy for annexation to
Union Pacific
St. Paul has been credited for years with
an intention of reaching out 20 the Pacific
coast The acquisition Of the Northern Pa
cifc would give il this line and would in
every way strengthen the company. The
Rockefellers have long been in control of
the st. Paul road and have nourished a
purpose to reach western tidewater If
they can do il by purchase of a completed
line instead of by construction, they would
much prefer TO do so. and the scheme to
grab the Northern Pacific is to fasci-
nate them. The Standard Oil crowd is al
ready largely interested in Northwestern
and divides control of that system with
the Vanderbits. This insures harmonious
relations in the Northwest up to Hills
Great Northern territory.
There is many slip betwixt the cup and
the lip, however and it is within the range
of possibility that the Rockefeller-H arri-
man plot may miscarry. The snews of
war are at their command, however, TO an
unlimited amount in the carrying out of
the deal. In the struggle for railroad SUI
premacy as in war between nations sue
cess usually goes to those in command of
the heaviest battalions. Powerful as he is
Mr.. Hill is no match for the combined
treasure Of the kerosene multi-mllionaires
and their allies
In recent interview Mr.. Loree, presi-
dent of the Rock Island. called attention
to the character and kind of immigration
pouring into the Southwest. Of the tens
and hundreds of thousands of enterprising
men who are casting their fortunes there
only a small admixture is of the foreign
element. At least nine-tenths Of the men
who are now moving into the Southwestern
states are native Americans, comprising
the younger and more enterprislng portion
OF the surplus population of the middle
Western and Eastern States. These enter
prising people attracted by the spen-
cid lands and climate OF the Southwest,
where they can secure farms for 10 to %
per cent. of the cost of acreage in the
East. With the proceeds of 100 acres of
land in Ohio, Pennsylvania New York
four or i've times that much ground
De obtained In Kansas, Texas or Arkansas.
Railroad construction in these sections has
gone on rapidly during the past five or
six years and millions of acres are brought
hn
heen too remote for profitable cultivation.
There is no section of the United States
where development is progressing more
rapindly than in the Southwestern States
the great sections tributary to St. Louis
and Kansas City being especially favored.
The Southwest is forging ahead of the
Northwest now in the matter of increasing
population and the country is filing up and
building up at a prodigious rate. The
changing and improving conditions are re-
fiected in the increased favor given to the
securities of railroads operating in that
country in investment quarters. The next
census Will unquestionably show the largest
increase in population in the Southwestern
States, and the resources of that vast ter
ritOry are only beginning TO be unfoded
Texas alone is able to take care of a pop
ulation of at least 100000 human beings
Kansas can easily support three times it's
present population, and the same is true
of Missouri, Arkansas and Oklahoma. In
dian Territory and Oklahoma combined
have a population already of more than
100000, and when consolidated in one
State new impulse will be given that re-
| gion.
| l note growing tendency on the part
OF financial writer's to dwell on the effect
and significance of the gold expansion
which has been going on for the last five
va md xxyfNi lob fc
| volume. Treasury statisticians give the in
crease in gold in circulation in the United
| States as $3.50 100000 in seven years. About
/ 20 per cent. of the total increase of money
] in circulation in that period is represented
| by gold. The per capita circulation has
| moved up from s23 81 in the time men
toned The tendency of this expansion is
J to put up the price of securities having a
| variable or speculative value This fact is
! in reality the strongest bull factor in the
situation, something, that bankers realize
/ very thoroughly and something which is
gaining in popular appreciation.
/ +
/ The ill-fortune which has attended the
speculative career of a very prominent
I magazine proprietor gives groundwork for
current story in Wall street. Gossip has
it that after being allowed to make about
/ $4,000 in steel shares he was persuaded
to increase his investments to such an ex-
tent that he suffered loss of over s.. 900. O0C
| in addition to paying back the $7O00o0 orig
! inal winnings. Steel however, was not the
only good thing he was let into. While
the plunging fever was on him he was much
| in the society of a wel-known tobacco
| maguate, whose connection with recent cot
! ton speculation has given him unpleasant
| notoriety. This tobacco king told the mag
| aZine proprietor that Continental Tobacco
was one OF the best things in the street
| and that every dollar invested therein
would be doubled. There was nothing
small about the publisher and he announced
his intention of buying 5000 shares. Tn,
two remained together until midnight. anC
later. When they separated the magazine
| man said he would go down town the mex
| morning about IL o'clock and begin hi:
purchases. The tobacco specialist got al
earlier start and hand when tn,
literary gentleman commenced taking OF
his load. lie got the 40oc0 shares will
surprising ease and when he came TO haV,
the certificates transferred to his own nam,
he made the discovery that the shares haC
come from his friends stronghold In tn,
unSelfish generosity Of his heart the mag
nate had given the magazine man almos
his entire holdings at practically the out
side quotations ever reached for that par
ticular security. The loss on Continenta
Tobacco is said TO have footed up owe
$4,000 before the publisher could let go
The magazine proprietor. who also has
| ambitions TO become a great journalist. ha
recently curtaied his activity in many di
rections. Among other things he has an
nounced that he is ready to retire from
| the ownership and direction of a New Yorl
paper taken over by him some two year