The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1909-07-04
Pioneers In
Early Satur-
day Closing
Movement

health. Great pains have been taken to
impress upon the public the fact that
the Hartman properties will not be al
lowed to suffer no matter what may hap
pen to the wonderful little financier.
His affairs have been put In such shape
that he could die without a change &C.
curing in the policies or operations of the
great systems of railroads and industrials
over which he has ruled so automatically
1t is altogether likely that on his re-
turn from the other side he will gradual
ly subsde into a state of inactivity, al
though as long as he lives his spirit will
dominate even as 1t has done In years
gone by. The great machinery he has
been building during the last ten years
is built to stay. He is not the only en-
gineer who can run it. What it means
to create a great business on enduring
lines is best illustrated by the Standard
OIL. As everybody knows, that mighty
fabric is the creation of the brain of
John D. Rockefeller, yet he has had al
most nothing to do with actively directing
its affairs for at least ten years. His
soul is there, however and 1t will be
there after he passes away. So 1t Is with
the Hartman railroads.
Mr. Hartman is not alone among tho
big men of Wall street in putting his af-
fairs in shape against the coming of the
Pale Horse The affairs of nearly every
important man in the street are trus-
teed, beginning with Mr.. Morgan and
running clear down through the list in
Guiding Thomas b. Ryan, John D. Rock
efeller, Andrew Carnegie, j. j. Hill,
George Gould. Norman B. Ream, Judge
w. H Moore and his associate, D. G.
Reid H. H. Porter, the Astors, D. c.
Mills and the lords of the Canadian Pa
cifc. This wise plan has been adopted
by many men of Importance in the bust
ness world who have large fortunes and
yet who are not generally counted among
the multi millionaires. Along at the head
of this list may be mentioned Mr. Joseph
Pulitzer of the New York World, whose
fortune has been conservatively estimated
at $50, 0O0, 900. largely Invested in gilt-edBed
railroad stocks and bonds Long years
ago Mr.. Pulitzer made favorite or
Jersey Central and Lackawanna when
they were way down the line In price.
Authoritative announcement of the for
nation of the Delaware and Lackawan-
mas holding company to take over its
anthracite coal properties, marks the
beginning of the separation of the mining
from the parent transportation companies.
The Reading plan will be announced in
due time. The lawyers have been at
work on that for a year or more. 1t
has DocH The Ouo great spSCuAdtiNo iaStoI
in Reading stock and guessing as to the
terms has furnished endless gossip IN
connection with that specially. The btu
minous coal roads will be slower to get
rid of their holdings of coal lands. al
though with the anthracite roads obeying
the law they cannot hold out long In
defiance of the will of Congress.
There Is no let-up in the activity of
railroad companies in the matter Of or
dering new equipment. The outlook for
all the Industrial companies in that line
of business Is most encouraging, all the
more so from the fact that railroads
throughout the country had done little
or nothing in the way Of new equipment
for at least two years. Wear and tear
had been going on just the same and
now with big business ahead they are
forced to make UP for lost time. 1t is
now well known that the great majority
Of so-called idle cars on sidetracks are
really in no condition to again go into
service and never will be. They must
be replaced with new cars and 1t Is the
economy are best served by getting the
finest cars the shops can turn out. There
are now eight or nine companies en-
gagged in the manufacture of railroad
equipment, not counting locomotives, and
these concerns are sure to be kept busy
many OF the preferred issues Of these
equipment companies offer the most at
tractive investments now in sight. Under
the leadership of United States Steel,
that class of securities is sure to find
growing favor in the minds of owners
of money. Not that United States Steel
is an equipment stock. but 1t is by COM
mon consent the great industrial leader
In the stock market.
One point that will operate to the adj
vantage Of the big Steel corporation in
its pending labor controversy Is the fact
that many thousands Of its employees are
holders Of preferred and common stock
The purchases OF stock by the corpora
ton on behalf Of it's employees show very
large profits, buying of preferred having
commenced when the stock was down as
low as 55. 1t will be difficult to interest
the fortunate working men who got in
that way IN disputes with the company
which Is making them rich. When It
comes to fighting that kind of bread and