The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1909-09-22
NEW DEVELOPMENTS IN FINANC-
ciAL WORLD HAVE BEEN
SUGGESTIVE.
Ultimately Concern Reimbursement Of
Financial Relationships, Says
Henry Ciews.

lationships and point with particular
emphasis to the strengthening of the
community of interest principle in the
| railroad and banking world, thus prom
| Using a more complete and more legi-
innate and lasting arrangement than
/! has heretofore existed This is direct
| result of the passing of Mr.. Hartman
and is in no sense a criticism of that
noted financier or Of his work AS the
| world progresses men arise from OBJ
security; they do work for which they
are eninently fitted and which is SEEM
| ingly bound up with them as a life
| work others that cannot do So Well.
Mr.. Hartman was such a mana man
of the hour. Railroad transportation
| interests of this country required
leader for upbuilding and reconstruc
| ton on practical transportation and
| financial lines. Mr.. Hartman accom-
, expected from single embodiment of
mind and muscle. He left many plans
had he lived to the century mark. with
{ his great energy perception and self
| reliance unimpaired. there still would
| have been plans incomplete. 1t may.
therefore, be said without Ilsrespect
| for the dead that that leaders plans
We're as nearly complete as they ever
would have been and that the rail
road development of the country can
therefore spare him without great loss
even with some gain. Further up
/ building would have meant further
| concentration and the creation of
situation that neither our public nor
their representative lawmakers would
! have permitted Jealousies of an in
surmountable nature had already arts
en-; a man Of such strength Of mind
and character must necessarily make
| side offers of harmony and cOopera-
| ton; and as the leader of five other
| of the strongest and most influential
| capitalists and most courageous men in
| the community who trusted him i'm
plicitly and without question he was a
man all powerful Without that back
| ing he could have accomplished COM
paratively little. But now that he has
gone the other five themselves become
| leaders and thilss. ers. and the jealousies
| and the stolid self-reliance of their
| leader have passed as a factor in the
situation. The work of upbuilding that
he begun and carried to such sue
cessful stake will now be carried on
allowed to retrograde. EX-Judge Low
| EFT, who. possibly more than anyone
else. has in mind the goals for which
the dead financier was striving, has
been chosen chairman of the execu
tive committee of both the Union Pa
Cifc and the Southern Pacific boards
and two important members of his
syndicate hackers have entered as di-
rectors on both the systems named.
These changes are significant of the
strength of the hands in which these
! properties will remain and are accom-
panied with announcements of other
changes in financial relationships that
! are hardly less important from the
standpoint OF. general financial har-
| mony. In the course of time some
other leader quite as strong minded,
as independent and determined as Mr..
Hartman will probably arise and de-
mand recognition; but this is not an
immediate prospect and until time shall
produce him we have before us a per-
iod of harmony in financial and rail-
road circles that has probably never
before SO completely existed. This
view is not without it's larger signifi-
canoe. Our railroad and great indus
, trial enterprises are demanding recog-
nlllOn DIS properties, lcSS is tliouSil w
the financial leadership connected with
them. This is condition that is mill
tating towards their solidity and their
desira bility as investments; and the
greater the Investigations of the
financial responsibility connected with
them the freer they may be expected
to invite investments on purely COM
mercial basis An indication Of the
progress towards an enlarged and more
comprehensive community of interests
is the entrance at this particular time
of Mr. J. Pierpont Morgan, Jr., into
the directorate of the National City
bank, an institution associated very
closely with the powerful Standard
Oils financial interests who were so
prominent among Mr.. Harriman's
strongest hackers. Pointing in the