The Owosso times. (Owosso, Mich.) 1897-1926, 1907-11-15

| OF cOntrOlllng III
terest in vast num-
Der of railroads George J. Gould.
throughout the country. Mr.. Gould
has just returned from a seven months
absence in Europe, where, he said, the
people were timid about investing In
American stocks in view Of the recent
hostile legislation against corporations.
He said that among the reasons to
which he attributed the late financial
panic was the terrible verdict against
the Standard Oil company for rebating.
He thought there was no comparison
between the railroads of this country
and those Of Europe, although there
were some pretty fair ones In Ger
many.
Hotel Rents Roof Tents.
Already the plan of the fashionable
Bellevue-Stratford hotel at Philadel-
phia to establish an outdoor camp on
its lofty roof has proved a success.
up quarters In this curious combination
of city and country conditions. The
camp consists of thirty-two tents.
| Arnold Print Works Fail.
| That New England has felt the finnn-
| cial stringency was indicated by the
| appointment Of a receivership for the
Arnold Print works Of North Adams,
Mass, with liabilities estimated at
about $10,OOOOO0 and assets claimed to
be $15,OOO,OOO.
Norfolk and Southern Merger.
A deed Of bargain and sale from the
Norfolk and Southern Railroad COM
pany to the Norfolk and Southern Rail-
way company, conveying all Of the roll
Ing stock and other property to the lat
| ter concern for consideration of $40,
has been filed at Norfolk, Va.
Railroads Called to Account.
The Georgia state railroad commits
sion has issued an order calling upon
the Central of Georgia railroad and
the Southern Railway company for
"full disclosures touching the sale of
the stock of the former so far as the
facts may be known to them or their
companies or appearing in the books or
documents in their possession" 1t has
been charged that the Southern Rail-
way company owned a controlling in
terest in the Central Of Georgia, con-
trary to a state law prohibiting one
line from owning stock in a competing
company, and it is the purpose of the
commission to establish that fact If
such is the case.
Vaudeville Merger Forced.
The fight between the old vaudeville
houses in combination against the the
atrical trust. which has been going on
for months and which had entered on
a new stage with the entrance of the
Hammerstein- Keith Proctor interests
into the legitimate drama, was reported
to be at an end through the agree
ment of Klaw &c Eranger to quit the
vaudeville field and their organization,
known as the United States Amuse-
ment company, to turn over all unful-
filed contracts to the United Booking
Offices Of America, the vaudeville men
agreeing to keep out Of the legitimate.
Seven Millions of Gold Arrives.
The North German Lloyd liner Kron-
erinzessin Cecilie came to New York
with an installment Of gold amounting
to about $7,100000 consigned to vari-
Gus New York banks and bankers. and
the Lusitania of the Cunard line
brought $10.000000 more. The arrival
Of this gold was hailed as promising
to afford great relief to the existing
money stringency.
Steel Trust Absorbs Rival.
One important outcome of the con-
ferences at the home of ]. L. Morgan
was the announcement that the United
States Steel corporation had purchased
control of the Tennessee Coal and Iron
company in a $3O0O0,000 deal and by
so doing had greatly relieved the Trust
Company of America, which had held
a large amount of the +. C. and /. col
lateral. This deal also helped the gen.
eral bank situation, because at the
same time it became known that E. III.
Carey and ii. 9. Erick of the steel
trust had called upon President Roose-
welt to request the administration to
ignore the proposed combination. 1t
was said that they urged the policy of
hands off, in this case for the sake of
steadying the market by putting in cir
culation the millions represented in the
loans based on the transferred securi-
ties. This transaction places the steel
trust in control of about so per cent of
the total output of iron.
President Thorne of the Trust Com
pany Of America said that they had
paid out $34.0O0,000 during the two
weeks run upon the institution and ut |
last every doubling depositor had been
paid off. In the end he believed the
company would profit by this fierce
light, which had shown no abuse Of its |
funds.
Nest Prices Advance.
Despite the fact that there has re-
Gently been q material falling or In the '