The Birmingham age-herald., 1909-07-25


 change authorities dare not call these big men to account and that they were selfshly influenced not to do so by reason of the huge commissions accru- ing from the buying and selling of shares in blind pool corporations Now all this opportunity for foul play is going to be stopped.
 The erring members will have until next April to swing their corporations around in line and get into the listed class where they will be held to. more rigid accountability in the matter of reports of conditions. The exchange has at last awakened to the value of giv- ing the public a measure of protection for stocks dealt in under its roof This Is a long step in the right direction and something for which there has been urgent demand for many years.
 A story is going around In the circle which Is interested in F. Augustus Heinze and his affairs to the effect that he was most unmercifully trimmed out of the remnant of his fortune by means not regarded IS strictly in &C., cordance with the rules of the game. The yarn is that this energetic soldier of fortune was subjected to treatment which in mildest description might be called foul.
 It is represented that stocks In his specialtles, United Copper Ohio and Davis-Daly, all mining companies, which had been put up by him as col lateral on loans were ruthlessly sold out, a proceeding which compelled, him to put up more and more of the col f1k t1o a market forced down by sales of his own stock.
 It Is said that this process was car ried on until about all of the stock he could command had been put up and sold out, a process which put the mar ket down to point that exhausted his margins and left him stripped of both cash and securities. This is not a new thing in Wall street, but 1t Is only now and then that the facts are allowed to come out. The game was tried two or three years ago on veteran opera tor who was heavily long of Southern Pacific and who was antagonizing the powers that be. In that case, however, the intended victim caught on before the game had gone far and he was able to protect himself.
 Morse, the deposed ice king claims to have been similarly treated by men determined to push him to the wall. Controlling ownership of the several Heinze mining companies fs now said to be very widely scattered, alth ough interests identified with Amalgamated are reported to be quietly picking up what they can get hold of without boosting the market.
 What Heinze Is going to do, now that control of his cherished properties has ,.- l,J, L. lr Most of his time for awhile will prob ably be taken up in defending himself in the various criminal suits now pend ing against him.
 Some of Mir. H. c. Tricks friends are inclined to Josh" him over the im- portant piece of international news cabled to one of the New York papers a few days ago from London that he had Just closed a deal with a haber- dasher for the purchase of dozen suits of silk underwear for $750. An amateur cartoonist was showing sketch about the street representing hairy legged cave man trying to work himself into a pair of unmentionables and complaining that they scratched him. The cave gentleman was labeled Trick"
 Colorado Fuel and Iron has been most industriousy tipped for big rise. The story behind the tipping campaign is that Colorado Fuel and Iron is to be taken into the projected combination of Independent iron companies. The report was made to do service for sev- eral years that the company would be absorb ed by the Steel corpoi ation. The new story will probably be called on
 4tx f. tually consummated and the name of the Colorado company found to be on the outside. The tipster factory in this case seems to be located Tn the ha1's room of an important banking insti- tuition sometimes credited with grape vine connections with the stock ex- change in the interest of Standard oil contingent.
 Now that the F'renchmen have fin- ished the job of sticking a harpoon into Steel common and turning it around they are explaining why it was they didn't care to have the stock listed on the Paris bourse. The main reason is alleged to be that the man ufacturers and the workingmen of France objected to the listing because 1t gave recognition and standing to a dangerously large American industrial whose tariff protected goods could be sold in deadly competition with home manufa cturers.
 One of the most impressive incidents of the week was the opening of the McAdoo tunnels under the North river connecting Jersey City with lower Man hattan. The stock of the company which built these tunnels has not yet been traded in, but will be before long. A few millions of the bonds have been sold, however. About $60,000,00O has been expended on this great under taking and fully $15,000,000 more will go into the enterprise before it's com pleton. Nearly s5o,O0o.0o0 was raised for the work before the slightest SUIT was made about it. It was entirety private capital and was produced through the energy of the baiikins ouse of Harvey Fiske 6 Co. Behind this house was J. P. Morgan & Co. ana financial interests identified with the Pennsylvania, Erie, Lackawanna, Le- high Valley and Reading railways.
 Out of Receiver's Hande.