Daily press. [volume] (Newport News, Va.) 1896-current, 1909-09-10
BUSINESS IN EXCELLENT CONDITION
Crops, Which Dead Financier Pro-
phesed Would Become One Of the
Greatest Sustaining Factors Of
American Credit, BountisuI--No
Change In Policy Expected.
(By Associated Press,.


mans death comes at a time when in
general the business affairs OF the
country are in excellent condition, with
a realiza don of those bcuntiiul crops
which he himself. in enc of nis last
notable interviews. prophosied would
be one CT the greatest sustaining tao
tors of Amer can credit. with these
facts in mind and the general knowi-
edge tina; MIR. Hartman. IN any event
could not long continue mis- active ca
reer, Wall street had already pre-
pared itself fer the end which came
today.
There was no feeling OF shock or
alarm, therefore, when the announce
ment came, beyond the sentiment OF
universal personal sorrowA and as
the hours progressed II Became evil
dent that there was a general feeling
of security and vein OF serenity as TO
The future.
Conference Deemed Unnecessary.
For a time there was some talk
among the leaders Of finance as
| the aesirability OF Informally confer
ring. but even this precaution was
| deemed unnecessary. The repreJen-
tativ men Of Wall street left Tor their
| homes about the usual hour this al
ternoon. Such prominent figures as
j. p. Morgan, Jacob II. Schiff, James
Stillman, and george W. Perkins
went to their various homes without
concerted action.
1t is believed by Mr.. Harriman's
associates that the railroad system
which he organized and carried Tor
ward to such a degree CT success
will be continued with practically no
change Of policy and that plans TO
that end were perfected by Mr.. Har-
riman long before his death.
Numerous Reports Current.
| There were numerous reports cur
rent in financial quarters during the
afternoon concerning the status Of the
vast properties under Mr.. Harriman's
direction, enc of these reports being
| that his securities Of the railroad pro-
| ;orties OF which he was the head.
had been trusteed and wereheld in
tact for the greater safety OF his es-
tate and the properties concerned
However. there was no authorita-
tive opinion forthcoming upon this
report OF upon the general disposi-
ticn to be made of his property.
Estimate of Wealth.
Recent estimates CT Harrimams per-
sonal wealth have varied all the way
from s5O.O0e.OOo to s100.000.0O0. lie
was. of course, a large holder Of Sc
curitics OF the various corporations
with which be was identified inciui-
| in- in addition TO the Unon Pac nc
and Southern Pacific systems, over
score OF smaller OF tributary proper
ties. not only in this country, but In
Mexico as well
Report credited him with large
personal holdings in the Atchison.
Topeka & santa Re road. baltimore &
Ohio. Delaware & Hudson. Eric. hi
nois Central aud Pacific Mail Steam
ship Company His holdings OF
Brooklyn Rapid Transit stock and
boads acre very large few years
ago. He was reported to have been
the isrges; individual stakeholder In
the Fargo Express C-nplny
which only recently acquired a virtual
M nopoly Of the express business Ia
Mexico.
Arden Cost Two Million
Nc Harriman's real estate holdings
IN this c.fy we're comparatively small
Ills hcnc AZ Arden T. said to repre-
sent an outlay Of over f2.oo0.e0o.
J. J. Hits Comment.
NEW YORK Sept e.-From All
parts Of 49, untrv there came a
fcod r. tributes upon Mr.. Harri-
mans career and iifc work
James y. HiIl. another giant among
the railroad builders and a ouc-time
business adversary. said.
- have aigavs regarded Mr.. Harri-
man WY highly. ! have done a good
deal ~ business with him in the last
4 frO~ff~ur8 On rrurfh fnral