Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-12-25

1t is rather unre asonable for a manufac
turing industry of that size to keep or
making s. to 40 per cent on the gross
amount of business done, and that 1.
what the steel trust and the independents
have been doing for several years past.
This is going to be a bleak and dreary
holiday season for Wall street as q COM
munity. The banks and trust companies
have been making big money this year,
and are recognizing their employees in q
generous manner. Some Of the big cor
porations also are doing the grand. the
list starting off with steel trust and In
ternational Harvester and running dow
through where a distribution could b.
afforded. Usually this takes the form o
profit sharing distribution. The amour
disbursed that way this year is estimates
at close to 100000. Not one stock ex
change commission house or brokerage
they have cut down their office forces
and are making a great ado about hare
times.
Perkins Doesn't Face Want.
Wall street is concerning itself about
the future of George W. Perkins, whose
withdrawal from the firm of ]. P. Nor
gan & Co. was announced a couple OF
weeks ago. There is small necessity fol
worry on Mr. Perkins account. He quits
the firm with a fortune variously est.
mated between SO, 100000 and 10000, COO
which is a stable wad for man OF
forty-eight years to have accumulated
especially from a very humble start, as
was the case with Perkins.
A friend of the writer used to buy
cigars and newspapers Of him In little
place in Cleveland. not any bigger than 9
farmers smokehOuse. Mr. Perkins viii
the Equitable Life Assurance Company
it is said, and as he already dominate:
the New York Life Insurance Company
he will have enough to occupy his ode
time in looking after the affairs Of those
two stupendous establishments. He II
also head OF the finance committee Of
the steel trust, and will represent Mr.
Morgan in the directories Of Harvester
the Erie and Southern railway compan
les. International Mercantile Marine anC
several other large corporations. Hill
alliance with the Morgan house will b.
as close AS when he was officially iden
titled with 1t, although he will be re
lieved Of many of the details he ha.
heretofore looked after.
Morgan's House in Order.
Mr. Morgan has had his house in shape
for five years, so that its affairs woule
go on uninterruptedly i'm the event of hi.
death. In that respect he is like nin'
out Of ten other very rich men. Hi
death would no doubt be a great shock
and might be followed by a heavy de
cline i'm securities. 1t might take som'
time for the world to realize the strength
of the trusteeship with which he ha!
invested his affairs. Then matters woul.
probably drift along smoothly. Mr.. Nor
gan Is generally rated as the third riches
man in America. Rockefeller stand
first and Carnegie second. There ar,
several fortunes in excess of 500, OOO Wt
besides those controlled by the three
men named. The Hartman fortune il
very close to 500 600, 900, and under thu
very careful and cautious management o
Mrs. Hartman will probably never b,
less. Mrs. Hetty Green is worth a goot
deal more than $1OO,OOOOOO. Mr.. Schif
probably has in excess of 500, OOO, 900
There are literally scores of men in thi
business world whose fortunes are abov,
the f1fty-million-dO mark.
There are about a dozen so-calIed part
ners in the house of J. P. Morgan. Ac
tually. there are no partners, in the gen
eral sense of the term. Like the lat,
Marshall Field, Mr.. Morgan has lon1
made practice of taking on partner
on profit-sharing basis, leaving him
self free to sever connections with then
at days warning. The strength o.
the Morgan house is the strength of ]
r. Morgan PERSONAL---VERY. more, no less.