New-York tribune., 1904-10-23

on one day they have bummeUad the 49,,
en- f--aSse; ON other days they have r,a1a -,
sjccAs their target--there has h.e-, ra,-,,s,,..-
JSInnlhg and dannins to the very Hrnft Of ~s.s
"SShess- once, twice thrice, quotations rr5..
AZ thiS pressure, have wavered. Brt ta-,r.
iarliy. AZ the end OF this week-alroos, n
Pi9'eNeiileu Tor its bear ma1oeuvres-the rsror4
loN9 'oNahces registered practically sve-v-
"here- Yet what opposition spccuIafors ba-.
been unable in their strsnuousnarg 10 -.
plSn' u may be that they who are act,,uv ~,
best friends OF this market NAV tbsrr-.l--
to bring about Wall Street i1 frq -.
Phraseoicsy' talks often OF HEALTHY reac-fo1g,,
mere are times when Just plain. ordinary nnsi-
ness sooFlety does recognize that there ca, -.
heed ana there can be helpfulness in .nnI,,r.
curbs- No man who loves his horgs che,ro. :,
make him runaway
While practically tire earlre s.9cl, make. ,-.
mas shared m the wee.-'s market expansion. and
"hlie advancing quotations have had hardly an
exception there are some stocks attaining sn.-
elaI eohspicuousness. Erie IS one OF these. All
OF It's issues. heavily traded in. have adr,...,
explanatory tales are served In variety yvb..
eventually is likely TO be disclosed is thar nv
and Important operating alliances ara - -.
Vide DEMENT'S ETie's situation in the r7arta,
mas for long time been ore Of the fra-,1,o.s,-
ahoIGaIles Safer management than trs rra,.-.
no property has. just one fact. though has
erted depressing indGcncc upon Erie s.o,,-,..
market values since Frederick u r-,7s--..,
became The corporations Eead-devotsd not T.
eidentally but wholly 10 Tn uubu1dfrg 90
system whose normal place i'm business acbi.,-.
nent is at the very side Of New Yor,, Ce7.-,1
and -apprcachiug even their ~,
tionaI consequence Opportunity and capacity
nave been with the Erie through an its tortuouz
career With the slow1ess % carafuIness wt,
that thoroughness which pu,s all specula+toD
aside, Underwood handles Erie on the stock
Exchange his management has been sometime.
sneered at and assaIled. for there have been no
coups for the scalpias of quotations month
after month statistical reports have beer. r7ada
not calculated TO inci-e market enthusiasm. b,1-
they who really know the Erie have taken coz
nizance that Throughout recent years. through
every month and week, ~ every day some es-
sential advance has been scored y r. HART
man did not go inJo Erie 20 rescue # from, dis
tress; he found progress under every inch o.
Erie surface. And now George r. Baker enters
Erie's directory. Wall Street bulletins. an
nouncing this. have distributed 8 variety OF su-
periciaI comments and guesses. but in 10 fair
sense has there been suggestion OF what may
be the actual significance. George T. Baker is
remarkable man. His record OF accomplishment
IS unique: not one failure figures in his entire
career
That Mr.. Baker now becomes one OF Eriss
executive directors is to De accounted corse-
queRtial-and not for Erie alone Eries place
in the coal trade excuses theories that It is
simply its anthracite relations that attract Mr..
Baker-the man who above Others stands re-
2 %
Jersey Central. an active member Of the board
Of managers of the Lehish Valley and the Lack
awanna. Another explanation is not more dif-
ficult to to1nd-though attention IS not yet given to
it-a more important influence lies in the fact
that George F. Baker is in q large way ident-
fed with the fortunes Of the Rock Island sys-
TEN.
In recent stock market Development Rock
Island has been notably Iaggard. AL its friends
have been advising nOn-action; some OF then:
have even gone to the length OF Utterins oearish
Information to hold Rock Island securities back.
1t has been no easy task to check these stocks.
In wholesale ways the Rock Island property has
been built UP. expanded. i1noroved-in many
particulars practically rebuilt-out Of earnings.
There are ample conservatism" reasons IN de-
fence OF such policy It makes. Of course for
future benefits on a tremendous scale. But
Wall Street people cognizant OF the sxtraOrdi-
nary diversion of earnings upon this account
realized some time ago that when finally nor
NAL Rock Island attitude was resumed there
would be disclosures OF an exceptional situation
Rock Island has developed. in fact. along pre-
ciseIy those lines which George F. Baker and his
confreres pursued I'm the making Of Jersey Cen
tral what Jersey Central is to-day.
Rock Island shares are TO be listed on the Lon
don Stock Exchange In coincifent announce
ment Of E,Tie's ttcn-E.aStern connecLIoLS'
n New-YOrk entra0ce-thsre could be warrant
apenty for Rock Island enthusiasm.
Even the most captOUs critics agree now tnaC
the public is in the market and that Investment
purchases are made on a large scale FocelSH
buying also shOwS-DOtably in STOCKS IKE re-tll-
sylvauia, New-YOrk Central Caua1lsn Fac4Ac
and Illinois Central In Illinois Central there
has been buying 10y Berlin as well as Lonooh
one OF the mCSt important German banking
houses recommending u as a conserva-i.e - ~
vestment where dividends are likely soon % N
crease ~ being pointed out that the property
will benefit particularly from the prosPeIl5y
which this wears phenomenal cotton crop VIII
establish throughout Illinois Central territory
In Mexican Central too foreign buying has ap-
Dsared as one of the factors or the Week Ih9
old English crowd seems 70 be SetllhS 94eN M T
the property. The fact that Mexico Is unat,y
assured stable monetary basis naturally
makes for confidence among European investors
In Louisville and Nashville and Atantc coast
Line there has been large Investment o9<'rP%Jlon %
one OF the most important lnts u-i--N-.-e
houses has submitted bid Suost3nJlaly aoos7
the current market price fcT q block OF NtIthlIo
coast Line st1ck-sowe hints putting 'ns Is
l1res Of the bid above 1870 for loUUJ shares
Brokers with out-of-town wires ars esoeciauy
busy: there seems 20 he a spfcu-atiy+ t"@N ~ -
ing throughout the whole country oS-oI -
p boom ~ irs owu-eve~y copper s.o.A - "
list having oldfashioned activity eng ql's 100, -'r,
Copper at fourteen cents per pouhI = -or-e
mild predictions for the '7-.V -o19.e' - ' os-
of the most aclt oc ANAL Ie7~aated.s Ios1'e -,
ba