Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-10-24

rotary and treasurer Mr.. Gates is an ex
Baptist minister and has charge OF many
of Mr.. Rockefeller's charitable and edu-
cational enterprises. There is something
peculiarly hitting in Mr. Rockefeller's al
moner being in virtual charge of Colo
RADIO Fuel and Iron.
Vagrant Stories Ahoat.
Gates is trying to make an independent
sale of Republic Iron and Steel to the
steel trust. The report finds few believ-
doubtful that the steel trust would pay
25 per cent of what the owners would ask
for the property. Besides. there is no ur-
gent necessity for the deal. The Republic
is making money and is squaring itself
around to give a good account of itself.
Its main danger is that the management
may be in too great haste TO enter upon
the payment of dividends on the common
stock. Such action could only be for Wall
street effect. In the second place. If the
steel trust management had any real de-
sire to take over Republic Iron and Steel.
1t would probably be in no hurry to close
the deal. 1t got Tennessee Coal and Iron
away from Mr.. Gates and his associates
at just one-third the asking price-this
by the exercise of a little patience and
the. charitable seizure of an organized
chance to 'save the situation" Mr.. Gates
asked 300 for Tennessee Coal and Iron,
and was obliged to let it go for less than
100. 1t is now earning at the rate of Is
per cent on 100000. 600. a fact which
justifies Mr.. Gates estimate OF the value
Of the property.
Rumors are in circulation of very
large accumulation of Rock Island pre-
ferred and common stock by insiders. In
anticipation of important developments in
the very near future. According to one
story. Judge Moore is said to be long
100000 shares of Rock Island common In
one house. In connection with Rock Is
land reports, talk is heard that 1t may be
the intention of the management to vest
the common stock voting power, some
thing which it has always had in reserve,
and for which holders would be devoutly
grateful.
Hawley Looming Strong.
The figure of Mr.. Hawley looms larger
as time advances. He IS being given
credit for having hand in almost every
feature of theatric railroad development
these days. 1t is coming to be regarded
as dangerous to leave little railroads out
over night lest he pick them up. One OF
the latest things in connection with Mr..
Hawley is that after he and his friends
round out the Chesapeake and Ohio and
Clover Leaf systems he will sell out the
whole shooting match to the st. Paul.
thereby giving that great system lines
from the Pacific to the Atlantic. and from
Gulf Of Mexico on the south.
This St. Paul theory has been held in
Wall street for long while, and in GER
tain circles not altogether given over to
idle dreaming there has been convic-
ton that sooner or later st. Paul would
have a terminal on the Atlantic seaboard.
The theory has been almost as persistent
as the one connecting j. J. Hill with a
similar ambition. Mr.. Hill thought pretty
well of the idea at one time, but when he
srof Srin 1,A eyoS q
fiat that he had no intention OF coming
east Of Chicago, and had no use for tide
water terminals except in the far-off
Pacific.
Election Cuts No Figure.
The freak municipal campaign now in
progress in New York is not having much
effect on local traction securities. This
is probably because Of the feeling that
no matter who is elected mayor the in.
terests of the Ryan traction combine Will
not suffer. The town Is possessed OF a
haunting suspicion that Thomas Fortune
Ryan and his friends had an influential
voice in the making up of all the tickets.
This suspicion probably does injustice TO
the leading candidates, who are earnest
in their denials of all reports associating
their names with the mysteriously work
ing Mr.. Ryan. He may have had a hand
in the nominations without the nominees
knowing it themselves.
The presence of John r. Walsh Of Chi
cago has revived talk about the disposition
of the Walsh roads from Chicago to the
Ohio. Official denial is given Of the re-
port that the roads are to be sold to the
Steel Trust. No doubt New York Cen
trail. Rock Island or some OF the other big
trunk lines would take over the Walsh
roads at a price, but the price would have
to be a low one.
An energetic bear party is at work in
the stock market. 1t has made several
successful turns and seems to be playing
the game with discretion and good gen.
eralship. Those in market charge of the
manipulation very clearly know their
business.