The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1908-05-03

that the clover isn't green"
Harriman's acquisition OF the Erie
railroad. which was on the verge OF
bankruptcy when he took it, together
with the successful f1otation of Penn
sylvania bonds to the amount OF s40.-
000, 900 has given the stock market a
great boost. So optimistic is the feel
ing that the failure of T. F. Mcintyre
& Co.. one OF the biggest brokerage
houses in New York, for q million dol
lars, had not the slightest effect on the
market, which continued its upward
trend.
The Pennsylvania's success will. il is
believed. pave the way for successful
bond issues by other trunk lines. One
of the most significant features Of the
Pennsylvania fiotation is the fact that
it marks the return to the American in
vestment market of two of the strong
est banking firms of Europe, one of
which has not been prominent among
foreign buyers of our securities for
many years. There is every promise
that the bond issue will be oversub-
scribed and it seems to be admitted
now that the successful fotation OF the
Union Pacific issues Is practically as
sured. That corporations should at last
be able TO finance their necessities has
naturally produced a more cheerful
feeling. which has been reflected in an
advance of prices One OF the chief
causes OF the disquietude which has ex-
listed In this country for more than
year has been the fact that railroad and
industrial companies which had en-
joyed a high degree of credit have been
unable 10 raise funds except at practi-
cally prohfbitive rates OF interest The
turning point apparently came with the
saving OF Erie from receivership. and
the willingness OF Hartman to advance
a large amount OF cash to prevent a
catastrophe that would have unsettled
financial conditions all over the world
is. now explained. 1t was claimed at
the time that his espousal OF the Erie
was done out OF sentiment He said so
himself But developments have shown
that by his action a great financial re-
action was averted. The fact that the
great bankers of Europe and America
are willing to undertake the sale Of
such a large amount OF bonds at the
present time is accepted as an evil
dence that they have confidence in the
present situation and rare hopeful as to
the future.
letter from Paris says that Mrs G.
p. Huntington has bought splendid
house in the best part OF Paris and ex-
poets to entertain on a lavish scale the
hHlGItCdHS IeSluSEt lHCEc 41tc HVucc
was once owned by Empress Eugene.
1t is beautifully decorated The cell
ings are painted by celebrated artists.
Mrs. Huntington relies greatly upon her
daughter, the Princess Hatsfeldt, to as
sist her in entertaining. Mrs. Hunting
ton is at present living with her adopt
ed son. Archer. at the Hotel Bristol
George Croker has almost recovered
l. f@r,
formed on him several weeks ago. He
has been confined TO his residence, 1
East Sixty fourth street. most OF the
time since then, but was we'll enough
last week to go to the country. where
he is now spending a few days He is
not yet we'll enough, however. to go TO
his office in Wall street w H. Crock
err and wife. who have been living IN
their house at % East Seventy second
street since George Crocker's illness.
will retain their residence there indefn-
iteIy, although they expect soon 10
make trip to San Francisco.
Mrs Isabel Stevens Lathrop. who
has been at the Hotel Flanders this
winter. will leave this week for her old
home in San Francisco. All of her
property was destroyed in the great
fire of 1906.
Among prominent visitors to New
York last week was Collector of the
Port A. z. Muenter.
Clark c. Hyatt of San Francisco has
been here a month at the Manhattan
hotel
Among the Californians registered at
the eastern bureau OF the California
Promotion committee during the past
week were the following.
From San Francisco-F. H. Martens,
Mrs. F. H. Martens. Mrs. Wilheiu1ine
Hess, Henry Tietjen. Mrs. Henry Tiet-
jen. Miss Edith Tietjen, Miss Henrietta
Tietjen. William III. Croker. Simon
Newman. Walter Newman. Edwin S.
Newman Mrs. s. F. Sutherland, George