The Birmingham age-herald., 1908-12-27

The sensational TeCONti9 III piiSS7 @N to the uncorl1ing of a mass of gossip re- 1a+inq +o the general market situation. The impression has gained strong hoio in Wall street that the really important figures in the world of finance transporta- ton and industry are at this moment nearer a close community or interest than they had ever been before ana that developments of the very highest slsnl- acance are immediately ahead. These oe- velopments are supposed 10 lneiuue ai
 rangements looking to clearly dehned divjsion of territory and business among the railroads and to a concerted demand ,non Congress for a law which Will per-
 init of pooling among the carrying com panies. ,,4
 This. of course. Is not new thing, but it is believed that the public has now peei, educated to the virtue of pooling ana will no longer interpose the sturdy oppo- sition which has heretofore defeated the efforts of the railroads to the end they have desired The harmony above re- fo,red to is supposed to now embrace leading interests among the shippers The y,a+ter is all fixed up so Tar as Wall street goes and meets with the entire ap- n,ovaI of stock spectators and investors, a c well as stock manufacturers ana safes men. ,.
 a
 nress Congress with the necessity Of i'm mediate and favorable action. All that IS needed Is the mere form of congressional registry of the wishes of Wall street in this matter and the thing is done. Wall street takes itself very seriously and frowns on any spirit of levity or disre- spect manifested by the outside world
 The invasion of the southwest by MT. Ha Colorado Southern to the Burlington system is ac- cepted as evidence of a willingness on the mart of Mir Hartman to permit the thing to be done. It is not considered in the light of hostile move and 1t is even said that the Union Pacific magnate has given his approval of the purchase of the M
 K. and T. system by St. Paul. In this connection the report is received Wltn oredence that MT. Harriman's influence in Gould's Missouri Pacific system has been strengthened almost to the point of supremacy in it's management. lf this is the case then the Rock Island Is the only important system remaining TO De taken care of in the grand plan of har- monigation It is said that the Messrs. Moore. Reid and Yoakum and their asso- ciates arc not unfriendly to the arrange rnent and will be found working in &C., cord with the other interests. It is also said that for insurance against the pos sihilty of slip-up or attempted rene ing in, that the Rock Island people are reaching out for control of the Wabash system. which would give them an en- trance into the eastern territory. This latter story also finds many believers.
 The Carnegie testimony has bitterly an- gered nearly everybody in the iron and steel trade. Not friendly word in his behalf is heard. His benevolent interfer- ence In behalf of the great consuming public at the expense of the industries in which he was able to rear mammoth fortune under high protection, does not sit well. It was att first feared that the influence of his talk would be exceedingly damaging and would build up such sentiment in favor of drastic revision that there would be no withstanding It. So far as can be judged, however, the ,n- cident seems likely to fall more or less harmIessly on the Washington situation.
 The Wall street reception accorded the Carnegie part before the ways and means committee was ons of almost ribald de-