The Owosso times. (Owosso, Mich.) 1897-1926, 1907-03-22


j. p. 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
readiness to meet them with this end
In view
AS showing the apprehension of/ratl-
way men concerning the administers
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 q letter to certain officials, re-
ferring to Roosevelt and Bryan, said.
with two demagogues running for
president, or, rather, one running and
the other occupying the presidents
chair, it is 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 Il. II. Har
riman.
otOCkS LOWEST W years.
Throughout the list Of active rail-
road and industrial securities, which
had suffered several declines recently,
prices slumped from ! TO % points Oh
March Is and il, 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 sharp
advance in money rates, and Secretary
Cortelyou announced that he would
not recall the $30000,000 placed in the
national banks by the treasury last
September.
This fall In stocks, coming as 1t 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
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 Il. TT. 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 Increacc 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
BOO and TO issue another $100,000,000
Of bonds The board was left to deter
mine the form and condition of the
bonds. President McCrea broke all
preccdents by taking an active part In
the proceedings. He voted proxies rep
fesentipg $25O,O00000 market values.
rhe policy Is TO raise the age limit OF
employees TO forty-flve and call for
college experts.
The New Haven's 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. was confirmed by President Mel
len.
Rogers Railroads Unite.
The various Virginia and West Vir-
ylnia coal railroads which have been
built by III. ii. Rogers OF the Standard
OIL company have been brought to-
gether under the name Of the Virginia
Railway company. These railroads
are unique ihaape respect-namely, that
not a bond or shnrc of stock has been
, Issued on them the entire expenditure