The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1907-11-08


ling advance. This is especially
applicable 10 the tomato supply, which
Is short, but prices may. 90 so high
| that many will discontinue use and
will check the demand and leave an
! unsOld stock to be held over" II Is
poor policy to drive prices too high
for there may he such a reaction in
provisions as now exists in the copper
market, where fOrCcd-up quotations
! are followed by a rulnOus decline. A
! similar instance is found In eggs,
which were recently cOrncred mp 50
| high that consumption shrank and
now they are in a marked decline, as
the weekly receipts are more than
! l75,OOO dozen. The abnormally high
price set all the country shipping eggs
to New York, and dealers have a new
lesson Of the danger Of rapacity.
Nearly, or quite, 20 years ago the
late Austin Corbin published pamph-
let on the advantages that Montauk
| presented to his far-seeing eye as the
! future port of New York. Nothing
less than his long established reputa-
ton as a practical business man
swayed him from ridicule, so imprOb-
able did it seem that the vast harbor
| facilities Of what is now Greater New
York would ever prove inadequate
But already, i'm less than two decades
from Austin Corbin's prophecy. there
/ ig to nf do No
York's water front, extensive as It
is, will not be able to handle the vol
ume of traffic that Is sure TO come to
that port in the relatively near fu-
ture. MOntauk, as Austin Corbin
pointed out, is a full hundred miles
nearer every European port than is the
city of New York. 1t is also nearer
South america and the Panama ca
nal Situated at the eastern extrem-
/ ity Of Long Island. it has the advan-
tage of perfect shelter ON the shore Of
great bay. Connection with New
York and the rest of the country by
means Of tunnels under the East and
North rivers is already assured and
a great railroad system which Austin
Corbins mind first conceived, is in
process of Development the tracks be-
ing in reality laid, with reference to
possible, and even probable, traffic
half century hence.
1t Is very remarkable, this loss Of
position which so generally follows
| exposure of graft. When, for in
stance the life insurance revelations
ly resigned the presidency of the
New York Life. while Richard A. Me
Curdy resigned the presidency of the
Mutual Life, and James w. Alexander
that of the Equitable In the same
manner, the exposure of the Mettopol-
itan railway was followed by the res
ignation of President Vreeland, who
had been rated as one Of the ablest
and most honest men in railway SER
vice. but still he had to go. These
revelations should be an important
lesson to all holding positions of trust,
as they show how their sin will find
them out. Vreeland seems to have
recognized the importance of influen-
cling public opinion, for his forced
resignation was followed by an ex-
culratory and rather laudatory sketch
Of his life accompanied by a portrait.
published in "A Leasing journal and
which must have cost him $500. but
! it does not reinstate him or remove
! the bitter Censure of suffering stock
! holders One of the latter who has
lost all he had by the fSilure of Vree-
! lands company. recently applied for
employment to give him a living. and
many more feel similar necessity.
Russell Sages hostility TO the va
cation idea is not shared by all the
hnanciers in Wall Street. Henry II.
Rodgers. for example. is a keen yachts
man. Jacob Schiff and James Spey-
er believe i'm taking a trip to Europe
/ every summer James j. Hill Is always
! host of large salmon-fishing party
on the coast Of Labrador in July
They so up in his big steam yacht
William Rockefeller. like his brother
/ John D.. is n golfer. George Gould
| Is an outdoor man.
Il. IL. Hartman has a magnificent
I. estate of 10000 acres in the Ramapo
mountains. where he maintains large
stable He also owns n yacht. the
| Sultana. George W. Perkins is keen
on motoring. while James McCrea,
president Of the Pennsylvania, is an
enthusiastic cross-country walker
President Basr Of the Reading. goes
in for landscape gardening and Pres
ident Underwood Of the Erie divides
his time between motoring and yacht
ing.
Others in the group Of big railroad
presidents who so in for the outdoor
things In the summer time are Presi-
dent Thomas Of the Lehigh. President
Ripley OF the Santa Re. Oscar Murray
of the Baltimore and Ohio. and w. III.
Newman Of the New York Central.