Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-01
Financial News Letter
NJ v. d. NICHOLAS. :


Il : u
III ". q. NICHOLAS.
| Special Coexespoadenee Of TAe.star. -
ss NEW YORK. Novem6sx ~ 1907
Several railroads and aeSnu4Aer pf
street car systems and industfiais are
just at this moment out Of the Control 6fs
lia4erests which have long been regardSd.
! as dominant, II not In actual majority
Gentlemen having the cash
| would be able at this wFIxing to pick up
a majority of the stock Il 30 sdfsposed
without materially advancing It's price.
Whether the cd rulers will get back their.
properties or not is an open question;
Some of the very rich men identified VITA
corporation management have been cut %
pieces. not few. seemingly beyond tie
tpower of rehabilitation. = s.s.s
Among the COMPUTATIONS which are sup
posed to have shifted control OF rather,
majority ownership in which - row ahoat
tmay be mentioned ST. Paul. AscAiso
Erie. New York Central, Brooklyn RaPd
Transit, Reading and possibly Union "a
| ciic. AS to thes. status of the tracsfon
i.phperties of the Island of Manhattan
| and the Bronx nobody appears TO De apls
to speak with full knowled OF the lat ~.
| The only people who really know are the
inner members OF the Thomas fortune
Ryan combination, and they are dunno as
oysters
The Standard Oil element has been
nrettv wsii sbak nsaar of New York Cen
! trail PENNSYLVANIA Union Pacific aau ST.
| Paul. especially st. Paul, over Wtiese
destinies they have for many years psen
Overwhelmingly in the ascaraaht. aney
| are SUPPOSED to be still in full control OF
/ Amalgamat=d Copper, and to hag9 re- re
tanned very iargay their Interest IN oI'leit-
ers. Mr.. Hartman and his associates
have been obliged 10 heavily seats a ,9?s
Their holdings in Union Pacinc anu ,.,ss
Ieorporations Their holdings are beiteFed
| TO have found their way to conslae, ip =.
extent into the strong boxes .of 1He Z: = =
Morgan party, wHieh again iiic'aoes john
| .. Rockefeller and his inttHa stt.ssi.s hAaiisc
vaH Informed people really think th2i--As1-
/ tuai celfi6i of The Union Pacssle s&sL sfii+
! Is now lodged IN the Office of j. + Nor
cary Co 1T is as certa.nfas aasakhn &.
| can Be in wall street thai Nj. itarF.inah
Ana his personal following have lost enor-
~ouslv in tbs psnic and preeeditig de-
aIise. They .ars SIN able fosksep sth sif-5
! neacs ,tsp, however, but ai's - ,siits
Tsn.lll,' as the saying is. Among those
who are sigaaly- Silent are n u.'ii ,.so,p
/ 6oltsS has been 1Isecignized for years "
MIR. Harriman's principal baeRef; ~ n.s
net made a peep sdlee the tufi1ui. pe 80,
fThe Georgia Central which haa pee ,
was being carried ON loan in the Iruse
roTnrany- of America, has found Us way
| FyatiS home and is, onca more sscurely IN
| !sssr. .Norean's inside pocket: a..,
There is great nsal ,, ., eel,ua.t ;apid
transit For the snlolnsna 1t IS efliiis ~
out of. the hands of 1.-The AntHony ~
Brady party, and he may MOI az All -,
gain his control. II has been ms MAJ 81 :.
r3iavthtng for years<ihis particular COW ,
| to mix. one of the INCIDENTS OF the
wsek was the nIerciless calling ef seans,
against n Brady house and in the sha "a,
ing I'D a big block of 3. Il. A., Is sa.o
IA have been Transferred for. the account
- sdsf;i,niIant client on a basis of 30,
several ro:nts below the pub1cl a., -
low figure on the stock exchange. 1Rs
affair looked like a vicious alteihpt y
cripple the firm. but they GO ne GU, oo 81
tl,a ordeal between 81, 900 an .ooJ
| to the good, it IS said Another nous
/ Of even 1iargar calibef than the one re-
farred to was also gunned ,ioT, anu
/ Oliver Payne, the snulti-nlfll onaife sSsana-s
ard Gil magnate, Rad TO GIG up 49,,
| s15. e0a,f4sD and s:,eoGo.6oe to make gooa
| his account there and save the mouse
from W eek ,Ths Payne incident is one
| of the open secrets of NaI street, anu
| is mentioned as another instance OF tnS
| unnecessary cruelty of banks and theif
/ tack of consideration. 1t is very certain
| that several of the largest banking IN
stjtlltions of New York have been pc
| having very badly during the. last lefe-
! night while being advertssd as cohsPlcu .,
i
| These things viii be remembered iatss
| on. and when the many Victims OF pank-
| ing raids get on their feetssagain theIs
will bs 10 end of open ta1ksoi tna reai-
| n.scent order. -
Sneakine of Saving the situation,
| there has been no little wonderment why
/ Mr.. earn egie has not figured IN TINS greaI
| financial tragedy. A curious story :
aaoat bearing on That d Tatg pe slts his
return from Europe and asked to tahe
| part in the situation-saving program
\ Everybody of large wealth. Was ASKED 70
| take a hand and do what he- coalas ses
4 heIp matters out. Very few wlsol ware
/ able to do 50 refused Mr.. 1Garnsgiss was
i4nne OF these few, although netofe0Hsss
! strong in cash and fairly BURSTING sitfe
ID osperity at every point ME- tafEIlsgls3
! draws. every month from J. P. Morgan s
| CO. 81 .oeSeCo. that being his interest; on
| $40 Geo. 100 IN United. States -Stesa Corr
poration .first-mortgage bonds, a Shai4 hs
Which has remained unbroksn from thS
| day he received them as the proceeds OF
bis: silec sssful hoid-up of the co,nhina.
| ton organizsd by Mr.. Morgan as ths
| nr;ca of his going into the steel trust.
What reason o excuse Mr;.ssarne9ie gave
| for not joining fifth the others In giving
| assistance is not known. He simply
did not do anything and would not. Mr.:
| Carnegie, by the way, keeps very smah
bank balances in New York and nothing
UNUSUAL in Pittsburg. 1t Is fact moi
| generally KNOWN tHeiI - tlASzSotOa III
| nrietor of an unobtrusive trust company
over in Jersey City. where. he DOES hs
| current banking business and keeps his
deposits. The institution is called the
Home Trust COMPANY. It is there that
Mr.. Carnegie keeps his cash. He is prace
| tically the sole custone- of the concern,
as he is its owner. The Home has pfenty
of money to loan always but RECEIVES
no deposits. Consequently, Mr.. Carnegie
il always safe SO far as The matter of
runs. may go. !. he restraints himself
from becoming panic stricken, the Home
will always be a safe place for his
treasure 1t thus appears that the lead
| ing member Of American society, who
enjoys pre-eminent1y executive indorse-
ment as an altogether desirable citizen
| and model of morality, goodness. pa
tr.otfsm and high character, left the coun.
| try to take care of itself IN a crisis and
coldly turned over its financial salvation
to bunch Of so.cailed ..cfiminally rich."
including John D. Rockefeller, Thomas
F.. Ryan, J.. Pierpont Morgan. e. n. Har-
riman and others almost equally des-
perate. 1t looks almost as though 'un-
| desirahles,,. had a shade the best .nf 1t In