The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1909-07-01
ence the conduct OF an honorable man Of
the suspic ions Of one Of like character.
II. W. Taft Appears In New York

i 0ACo l1iS COHOOcI OF an honorable man or
the suspic ions Of one Of like character.
y. W. Taft Appears In New York.
Lawyers and financial men in New
j York who have followed the sugar
trust matter are recalling this CORE
spondence with not a little interest.
The firm of attorneys with Washing
ton connections" was Strong & Cad
Walader, Of which, at the time Mr..
Earle wrote, both Henry w. Taft. a
leading counsel for the sugar trust in
all the litigation growing out Of the
Segal loan. and George w. Wicker
sham, the present attorney general,
were members.
The fact that Henry w. Taft is an
attorney of the sugar trust in this
Identical Segal case, thus involving the
law firm of which Attorney General
Wickersham was member, raises an
interesting question as to what the
present administration will do toward
prosecuting the trust. Judging by the
vigor with which Collector Loeb nro-
ceeded against the same trust in the
matter of the short weight frauds. the
law business Of Henry w. Taft and Of
the firm Of Strong & Cadwalader will
have little or no influence on President
Taft, and the prosecution will go for
ward with the same vim that marked
Receiver Earle's case. If private in.
dividual could accomplish what he did.
what could not the United States gov
eminent accomplish if it proceeded
against the trust with all it's great
power? One of the most remarkable
interviews that have appeared in
years grew out of this Identical suit.
1t was from no less man than Sam
uel Untermyer, the famous corporation
lawyer of New York, who was re-
tanned by Segal. Mr.. Untermyer stated
in effect that the government, if it
We're in earnest, could not only sue
cessfully prosecute the sugar trust, but
many other gigantic corporations that
pursue the same methods That inter
view took the lid off.
Whatever the government does, how
ever, George II. Earle has given the
sugar trust staggering blow. He has
not alone wrested from it many mil
lions of dollars, but has shown the
country what can be done in curbing
criminal combinations by any man
who means business. That perhaps is
the greatest service of all. Moreover.
he has put the Real Estate Trust Com
pany of Philadelphia on it's feet, thus
saving the money Of thousands of in
nocent depositors, and has made it
possible for the Pennsylvania Sugar
Refining company to open it's Camden
| plant and resume business. For his
services to the trust company he was
unanimously elected it's president.
Other Concerns Saved by Earle.
This is but one of long series of
| lettering or wrecked institutions that
George II. Earle, Jr., has successfully
| reorganized. Among the others are the
Pennsylvania Warehousing and Safe
Deposit company, which he took when
| its stock was down to S. per share
and by cutting out the dead wood, jul
dicious buying of wharfs and bust
ness principles brought it up until it's
stock is in the neighborhood of $500
per share; the Finance Company
Of Pennsylvania, which needed
strong bracing and in Earle's hands
got it; the Tradesman's National
bank, which got into deep water with
it's stock down to so, called on Earle,
was set on it's feet and now is above
par; the Market Street National bank,
which was foundering, sent out a hail
for Earle and is now selling at pre-
MUM of 60; the Reading railroad,
which the last time it failed was put
back on its feet by Earle and Freder-
lex P. Olcott Of New York; the Choc-
taw, Oklahoma and Gulf railroad,
which struck slump and went under,
but with Earle as chairman of it's COM
mittee of reorganization has been
made paying property, and the
Chestnut Street National Bank and
Trust company, involving the owner
ship Of the great newspaper, the Phla-
delphia Record, all three of which Mr..
Earle, with the help of one other re-
ceiver, put back into fourishing con-
dition, although the bank and trust
company had actually failed and the
paper was heavily involved
This noteworthy triple success was
perhaps Earle's greatest achievement
up to the time that he reinstated the
Real Estate Trust company and the
Pennsylvania Sugar Refining company
and forced the sugar trust to disgorge
several millions of money. credits,
stocks and bonds. And now, after the
famous street car strike in Philadel-
phia, Mr.. Earle has been asked by the
mayor and councils to take charge Of
this situation and in a letter that
boldly outlines his views and cuts to
the heart Of the question has consent
ed to do so. The regard with which
he is held in Philadelphia is shown by
the fact that since his appointment
public confidence that the traction
| question is at last in the hands of a
man who will solve it has been gener-
ally expressed. The same trust in his
ability and integrity was displayed
1