Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1909-07-07
ence the conduct of an honorable man or
the suspicious Of one OF like character,
H. w. Taft Appears In New York.


Lawyers and financial men in New
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 counseNfor 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 pro-
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 its great
power? One of the most remarkable
interviews that have appeared in
years grew out of this identical suit.
1t was frem 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. IL 1t
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 a 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
pauy of Philadelphia on its feet, thus
saving the money of thousands of in
| nocent depositors. and has made it
possible for the Pennsylvania Sugar
Refining company to open fits Camden
plant and resume business. For his
To t1,n fr-t,S
| unanimously elected it's president.
Other Concerns Saved by Earle.
This is but one of long series of
| tottering 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 So per share
| and by cutting out the dead wood, jul
| dicious buying of wharfs and bust
ness principles brought it up until its
stock is in the neighborhood of 500
per share; the Finance Company
of Pennsylvania, which needed a
strong bracing aud in Earle's hands
got it; the Tradesman's National
bank. which got into deep water with
| its stock down to so. called on Earle,
was set on its feet and now is above
par: the Market Street National bank.
| which was floundering. sent out hail
| for Earle and is now selling at n pre-
MUM of 60; the Reading railroad,
| which the last time it failed was put
| back on it's feet by Earle and Freder-
| lex L. Olcott of New York; the Choc-
| taw, Oklahoma and Gulf railroad,
which struck n slump and went under,
| but with Earle as chairman of its 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 Phila-
| delphia Record, all three of which Mr..
Earle, with the help of one other re-
ceiyer, put back into fiourisbing 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 relnstated 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 Pbiladel-
phia, Mr.. Earle has been asked by the
| mayor and councils to take charge of
! this situation and in 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 1t has been Cener-
| ally expressed. The same trust in his
| ability and integrity was displayed
several years ago when he took charge
| of failed trust company. The man.
| ner in which this particular failure
| had been brought about had enraged
| the depositors, large numbers of whom
entered snit. On Mr.. Earle's mere ap-
peal these suits were ell withdrawn.