The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-01-29
RAILROAD GROUPS
CLOSER TOGETHER
Relationship Between Systems
More Intimate Than Ever
STANDARD OIL MONEY TALK
Rockefeller Wealth Forms Back Bono
of Overwhelming Movement for
Concentration of Railroad
Ownership.
OIL MONEY TALK
BY w. c. NICHOLAS.

New York. January 28-Relationship be-
tween the great groups of railroads is be-
coming closer every day. Decided pro-
gress has been made along community of
interest lines within the last three months
and it is making sweeping Roadway at
the present moment Standard Oil money
is the back bone of this overwhelming
movement for concentration Of railroad
ownership and railroad operation. Stand
ard Oil money is now invested In almost
every leading system in the United States
and In several occupying controlling posi-
tons the capital of the combination actu-
ally dominates.
Standard Oil would be even more
strongly entrenched now than it is but
for the unfortunate part 1t took In the
fotation of Amalgamated Copper. The
combination has In all probability from
first to last, cleaned UP SIPS, 1900 in
Amalgamated Copper. but 1t is the dear
est bought money that ever went into
treasure hoard. 1t has been fruitful of
more scandal than any other enterprise
In the history of American high finance.
1t has brought discredit and opprobrium
upon leading members of the Standard Oil
party and lost to them large measure OF
respject which they otherwise receive as
directors In the management Of immense
concentrated capital 1t will take years
for Standard Oil to live down the bad
name given 1t on account of its connec-
ton with the malodorous copper PROPOSE
ton and It's incidental stock market Jug
glery and rettenness. The elder Rookie
Teller was never In sympathy with the
Amalgamated Copper deals and has taken
occasion many times, once in the most
public manner possible, to deny any in
terest In or connection with the affair 1t
is just as well perhaps, that the Amalga-
mated Copper combination was entered
upon for if Standard Oil capital and ener-
gy had been wholly turned to railroads
unbearable tyranny and worse scandal
might have resulted In the larger field.
From this viewpoint the public may de-
rive consolation.
Speculative Market.
The foreign situation while temper
porariy depressing in its effect upon
speculative values in this market Is like
1y to work to American advantage in the
end 1t should naturally stimulate prices
of such American products as enter into
our foreign trade especially cereals, meat
also feel a favorable impulse. Foreign
holders of securities while at first obey
ing an inclination to get strong by con-
verting bonds and stock into cash will
quickly turn to America as the safest
place in the world to put their money.
This country at the present time is fair
ly revealing its prosperity. There has
never been a period in the history of the
Republic when the people as a whole had
better reason to be satisfied. Money is
abundant and 1t might almost be said to
be super-abundant; interest rates are
low; our domestic and foreign trade cond-
ition and in every way satisfactory;
our financial system is resting on stable
basis; the political conditions every
where are serene. Every department of
industry Is buoyantly active, and from
the Atlantic to the Pacific development of
natural resources is going on as never be-
fore Our national wealth Is increasing
almost beyond our power of comprehen-
sion and the nation is in the full en-
joyment of the best of good times-all the
better because 1t Is comparatively free
from the fever of wild speculation in
any quarter that disease having been
checked by the reaction of 1904 Our
securities are therefore uncommonly at
tractive both at home and abroad.
There may be some temporary unload