Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-24

at liberty to make not only a new insur-
ance connection. but also to find a new
banking alliance. Mr.. Perkins can look
around. however, and console himself with
the thought that he is not the only high
and mighty insurance man who can tell
something of the discomforts OF being
nailed TO the cross"
4
One spIendidly beneficial result will fol-
low the life insurance revelations, and that
is future immunity from legislative and po-
iitical blackmaiI. 1t may be taken for
g aaied that hereafter fewer liberties viii
b.. taken with the fluids OF policy .h,),deis
X
Before the insurance quiz is over InQuis-
itor Hughes will seek enlightenment as to
whether commissions are paid on business
That comes unsolicited to the general Of
fees, and, If SO, who gets them Immense
sums are said to go to favorites in this
way which rightfully belong to the COM
pany's treasury.
Joseph H. Hoadley has become leading
faceor In the cotton market. He is an en-
thusiastic bull, and some of his close
friends say he has laid the foundation for
mammoth deal in that commodity. They
even go SO far as to say he intends to
run corner in cotton. That is probably
an exaggeration. II would take more
money and greater audacity than even
Hoadley has to corner the cotton market at
the peslnn1nS OF new year. A man may
De wild bull and still fall far short OF
any ambition to engage in such spectac-
ular performance as attempting to corner
up l0.OO0.O0O bales OF cotton. beside. ta5x-
ing care of the market Of the old werld
which would be one Of the essential de,
, 4 OF play Of that sort The late p. b.
armour used to say that he did not care
no" much wind pork or wind wheat the
Dogs sold him after he had once got his
arm around the visible supply 1t would
ae eau ha very long arms to encirclc 10000
The dyspeptic gave voice to lris srouchi-
ness after this fashion: II know It's mighty
unpQnniar to predict evil when everybody is
iuH or joy and confidence and things are
booming. Nevertheless. In my opinion the
paIoon has become inflated until It l. near
pursuing point I have noticed that real es-
tate speculation Is invariably the last gtxxes
or grand national boom. and tot1z.v yo,r
VIII ind the real estate gambling shirt
rampant IN nearly every large city In the
country. 1t is worse right here In New
YORK than any place else The thing 10
being oyerdone everywhere and there must
pc general and overwhelming reaction. 1t
may not come this year and don't think it
VIII, but wise men will soon be preparing
themselves against stormy weather"
~
Admirng friends of Daniel Guggenhefm
the newly elected president Of the smelling
trust, have conferred on him the title of the
Little Corporal of Wall Street." and the
name promises to stick He is the recoe-
nized head of the Guggenheim family of
seven brothers. and represents interests an
proximating In value $3.50, 100000 The Gug-
genheims control not only American smelt-
ers with capital of 100000 600 and. a mar
ket value of $f25 900 600 but American
Smelters Securities Company SIT 600 GOO
United States Lead and several other COM
panies allied to the larger corpora TONS The
family dominates the smelling and refining
business of North America and leads in the
development of the mining industry. THE
family fortune was founded by Mayer Gug-
genheim, who began his business career as
street peddler on the East Side of Man
haitian Island. He got into mining and
smelling by being saddled with securities
which compelled him to take over proper
ties and work them to get his money out
FROM that beginning he and his boys en-
larged the scope of their operations until
they spread over a continent. Having start
cd IN, there was nothing to do but keep at
1t, and the story of the Guggenheim achieve
ments in that direction is one of the great
money romances of this wonderful era
Daniel Guggenheim, head of the elan. is
forty-nine years old, short of stature,
rather stocky, deliberate and self-contain-
ed in manner, with a large head chuck full
of gray matter He has marvellous ca
pacty for work and a genius for admin
istration. None of the Guggenheim broth
ers cares much for speculation strange as
1t may seem, but they are great in the up
building of vast properties
* x
The fight against George Gould is pro-
crossing about as planned. Pennsylvania
interests at one end and Union Pacific at
the other are embarrassing him in every
possible way in order to prevent the car
rying out of his project for the creation
of a transcontinental system. Wall street
does not know whether to take Joseph
Ramsey, 1r., seriously Or regard him as a
joke. If it should turn out that he has the
substantial backing of Rockefeller or Penn
sylVania interests, he will be entitled to
all respect, but if he is butting into the
game for purely personal account, it is to
laugh. The Gould disposition to run amuck
across the railroad map, coupled with the
queer strokes of financing in connection
with Wabash, not only aroused the Vigor-
Gus opposition of rivals, but seems also to
have finally. alenated John d. Rockefeller,
for several years his chief ally. Mr.. Ram
sey has been very careful not to use the
Rockefeller name as one of the powers be-
hind him, but he allows 1t to be under
stood that he has the good will of the
Standard Oil faction. Possibly the truth
will not be known until the stockholders
meet ana cast their votes. meantime some
speculative spirit has been instilled into
the Gould stock by reason of the fight
against the Gould family but dealings are
largely confined to the quick running pro-
fessionals, who take fight on the slightest
and who are wary as foxes.
The Gouds are pretty badly scattered over
the investment field, and if it should be
determined by them to go ahead with
their railroad plans extensive liquidation
In other quarters may become necessary in
order to provide sinewS of war. The Gould
holdings are supposed to be large In West
ern Union. in Manhattan Elevated and in
Colorado Fuel and Iron. The latter inter
est could hardly be marketed to advantage
and any effort made to dispose of large
blocks of Western Union or Manhattan
might give the general market jolt. The
situation is interesting.