The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1907-04-12

). +. morgan. ing with them proper
steps to be taken to allay the public
unrest which threatens to obstruct rail
way investments and construction and
that the president had expressed his
in view.
AS showing the apprehension Of rail
way men concerning the administra-
tons attitude toward the roads, word
comes from New Orleans that Captain
J. T. Jones, president and principal
owner of the Gulf and Ship Island rail-
road, in a letter to certain officials, re-
ferring to Roosevelt and Bryan, said,
with two demagogues running for
president, or, rather, n running and
the other occupying the presidents
chair, it is a dangerous situation for
business men and business companies"
George J. Gould also is credited with
the prediction that severe business de-
preston will result unless legislation
against the railroads ceases, in which
opinion he was Joined by e. 81. Har-
riman.
0IOCNS GOWeSI III uCdIos
Throughout the list Of active rail-
road and industrial securities, which
had suffered several declines recently,
prices slumped from 1 to 25 points on
March 10 and IA, representing many
millions in values. On all the ex-
changes brokers were overwhelmed
with selling orders, and in Wall street
there was little short of panic. 1t was
by far the greatest break since the
Northern Pacific corner Of May, 1901.
At the same time there was a sharp
advance in money rates, and Secretary
Cortelyou announced that he would
not recall the $3O,O00,00O placed in the
national banks by the treasury last
September.
This fall in stocks, coming as it did
in the face of long continued condi-
lions Of prosperity, was unexplainable
except on a theory Of a concerted
movement by the financial interests in
control of the railroad systems, the
spokesman Of which have recently
been predicting disaster If the atti-
tude Of the government toward the
railroads should not be changed. When
this statement was brought to the at
tention of the president he said that
stock fluctuations had nothing to do
with his duty in enforcing the laws.
Fish In Missouri Pacific.
Stuyvesant Fish, whom e. n. Harri-
man .deposed from the presidency of
the Illinois Central, was elected to the
directorate of the Missouri Pacific, the
king pin of the Gould system, and it is
understood that he is to take an active
part in the management.
Stock Increase Of the p. r. r.
At the sixtieth annual stockholders
meeting of the Pennsylvania railroad
at Philadelphia authority was voted to
increase the capital stock by 100000
600 and to issue another $780, 100000
Of bonds. The board was left to deter
mine the form and condition of the
bonds. President McCrea broke all
precedents by taking an active part in
the proceedings. He voted proxies rep
r~esenting $25O,000,OO0 market values.
The policy is to raise the age limit Of
employees to forty-fve and call for
college experts.
The New Ravens New Alliance.
The report that the New York, New
Haven and Hartford railroad had ac-
quired the Merchants and Miners
Transportation company, which oper-
ates steamships along the Atlantic
coast. vas confirmed by President Mel
len.
Rogers Railroads Unite.
The various Virginia and West Vir-
ginia coal railroads which have been
built by b. 81. Rogers Of the Standard
OIL company have been brought to-
gether under the name Of the Virginia
Railway company. These railroads
are unique in one respect-namely, that
not a bond or share of stock has been
issued on them, the entire expenditure