Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-23

that everything bearing the Hartman and
Rogers brand have enjoyed keen , speeua,a IA
Ing in their properties. Now Erie Is in line
for an infusion Of speculative energy.
Southern railway: Rock Island. the
Great western. chesapeake and Ohio. wis
consin Central and the junior vanderbilts
are among the stocks which would be bene-
fitted by shift In popular favor from high
priced to low-priced securities.
1t is doubtful II Mr.. Morgan ever figures
paramountly in another colossal construc-
ton and Reorganization scheme OF the
complicated and involving kind with which
his name has been SO often identified In the
past. To be sure. he had the gift OF dodg-
ing the hardest work in connection with
these enormous undertakings, but the re-
sponsibility rested on his shoulders just the
same, and he Is at last showing the wear
and tear OF the strenuous life he has led
in Wall street. He has aged greatly In
the last two years and no longer has the
appetite for world-beating deeds of high
finance. He is domineering as ever. but
house is growing out Of the promotion line
and more and more into conservative chan
nels. 1t handles vast interests and takes
care Of the affairs Of thousands Of clients.
ranging in Importance from the billion and
q half Steel Trust to the administrator OF
$4,000 estate. Last year it distributed
among shareholders and bondholders more
than $50. 900. 600 No other single house
in the world anywhere near approaches
this record. Mr.. Morgan can afford to
tighten his labors and take it easier the
remainder Of his sojourn in this vale OF
tears.
The Imagination takes lively grip on
every plausible story of the creation OF
another transcontinental trunk line. George
Gould Is at present the only magnate aside
from Mr.. Hartman who seems to be &C
tually on the verge of accomplishing the
feat. Mr.. Gould is hard at work uniting the
dismembered sections of his zigzaggy
A,,k - IN r1
the job. The Baltimore and Ohio-Readins
extension of the Union Pacific system Is
not entirely satisfactory. but with the ad-
dition Of Erie Hartman will have dou-
ble-headed entrance into New York-one
from the south and the other from the
north and direct west. Then there Is ever
the possibility of an alliance between Penn
sylvania and Atchison by which New York
and San Francisco would be linked. This
latter deal Is thought to be now quite with
in the limit Of performance. especially
since the Hartman invasion OF the eastern
field. The decker might even include
swap of Union Pacifics holdings in Atchi-
son for Pennsylvania interest In Balti-
more and Ohio. 1t may be safely assumed
as fact that Union Pacific and st. Paul
are as good as merged.
Interest in mining speculation seems to be
on the increase The wildcats are being
neglected. but many companies are makine
good in actual production and payment Of
dividends and splendid development work.
The year 1907 should break all records in
the matter of yield Of gold and copper, ris.
ing we'll above 500 100000 in gold and
passing the billion pound point in copper.
Scores and hundreds of mines that have not
contributed much to the grand total VIII
be in full blast by the beginning OF the
new year with an immense aggregate out
put gratifying feature of mining specu-
lation is the fact that investors are insisting
on 'being shown" in true Missouri style
before putting in their money. Swindlers
are consequently finding pickings lean.
President Oler of American Ice. Charles
W. Morse. organizer and first president OF
the company, and Charles NJ. Schwab have
made the big profits in the 1O-point advance
in ice during the last ninety days. They
are said to have split up about 100000
profits on the campaign.
An amalgamation of Tennessee Coal and
Iron and the Republic Steel and Iron is
under way. The companies are owned by
the same set Of men and no obstacles con-
front the promoters of the proposed union.
The new corporation will have capitalize
! ton Of certainly not less than $3.50 100000.
and it may be considerably above that fig
ure It will be the Steel Trusts most for
midable rival and will own iron ore deposits
nearly as valuable as the big corporation:
At lowest computation the combined holds
ings of T. C. & I. and Republic represent
500 900 900 tons of iron, and some experts
connected with the companies place the
amount at LOCO, 600 900 tons. At 81 per tom
which Mr. Schwab testified was a fair vaf-
uation to put on the 7OO.OOO,O0O tons owned
by the Steel Trust, the John w. Gates COM
bnation has vast equities in sight. In the
light Of these figures the 100000 sugH
gested as fair price for the trust to take
over properties does not seem unreasonable
Some hold it to be dirt cheap compared
with the basis of the Jim Hill deal. -: