The Washington herald., 1910-07-29
SCHEME
COMES TO 'NAUGHT
Continued from Page One.

are members. AL of them, like the New
York bankers. have diverse interests in
American railroads. and II may be taken
as assured ;hat none Of them desires at
this time any disturbance OF the cordial
relations existing among all the impor-
tsnt railroads and bankers Of this coun-
try. weighty and difficult problems con-
front all the railroads. and the managers
of all systems are fully occupied with
these
II was to prevent trouble in the rail
road world and to restore to normal con-
ditions q stock market badly democrat
lied by the Pearson Farquhar liquidation,
IL was explained, that the securities were
taken over. It was purely and simply
a banking transaction. Nevertheless, now
that the securities have been taken over
the syndicate finds itself in control OF a
block Of Rock Island said TO be greater
than the Moore-Reid holdings. a large
Wabash and Missouri Pacific that are
probably big enough 10 call the Goulds-
VIII Aid Railroad Pence.
THE holdings have potenualities." so it
was authoritatively d eclared. They
could not affect control Of Lehigh Valley
But they might eventually produce a
dominant voice in Rock Island and. COM
bined with other interests in Wabash and
Missouri Pacific. might change those roads
into close allies Of the Union Pacific and
particularly the Gould-Pacifc Coast ex-
tension. But no plan whatever In any Of
these directions is contemplated. Now
and undoubtedly for d long time 10 come
the holdings will simply stand for peace
in the railroad world and stability in the
markets for railroad securities
As the audacity OF the venture doomed
up more boldly to-day il became known
that the venturesome one Of the syndicate
leaders was not Or. Pearson, the cele-
brated engineer and builder. but PercivaI
Farquhar. generally supposed to have
been dull English follower OF the bril-
liant engineer. II was he. not DR.. Pear
SON. that supplied the Imagination. and
one Of the bankers who dealt with him de-
clares that his imagination WIS astound-
Ing
Mr.. FarQuhar IN his early days was a
Tammany assemblyman, Wal street
Spectator, and man about town. and later
a soldier OF fortune in South America. a
promoter Of South American enterprises.
and finally now a capitalist Of France,
Brazil, England the United States. and
the world generally. with headquarters in
Paris. When his name nrst came out in
connection with the transcontinental
venture no one recognized him as the
Farquhar who left New York twelve
years ago. Monte Cristo on his reap
pearance, was no more known to his
/ early associates
Born in Pennsylvania.
Yet this audacious and intrepid invader
/ Of the American railroad field is the
same FarQuhar that was born in York.
Pa in 1863. was graduated from Yale
with the class ofszsSS, and from Columbia
Law School three years later. and repre-
/ scented the old Third district In the State
/ assembly in 1891 and 1892.
/ Farquhar left the country suddenly N
/ 1871. after sustaining reverses in politics
/ and business that no doubt discouraged
/ him. His father. a wealthy iron man Of
York, Pa, established him in this city
/ and he entered politics under the patron
B age Of Calvin Brice, then United States
l Senator from Ohio. Senator Brice put
\ him under the wing Of Hugh Grant when
/ Mr.. Grant was mayor, and Farquhar.
/ with Eugene s. Ives and other Young
| Democrats Of social position. became
! known as Grants young men. They
were the predecessors Of the-young re-
formers and high brows Of to-day.
The following ten years were spent
/ principally in South America He was
not long in getting a foothold. He had
/ unbounded confidence in himself. at
I racted men Of means to him, and dis
played ripe judgment in planning and
mastery boldness in executing business
ventures that seemed to others extremely
| hazardous. AS one after another OF the
enterprises turned out successfully. he
/ interested with him men Of greater and
| greater wealth. and eventually came into
/ great prominence in the business OF
Brazil and INTO high repute with bankers
/ Of Paris, who are known everywhere as
the worlds most conservative and eau
tious fnanciers.
Some Brazil Projects.
Some of the Brazil companies under
his direction are the Southern Brazil
Lumber Company. Madeira Mamora Rail
way, Port Of Para Company. Sorocabana
Railway. and Bahia Tramway. Light.
and Power. The Port Of Para Company
| planned the construction OF a new port
on the estuary OF, the Amazon, with
immense docks, deeply dredged harbors,
and railroads 70 save time in transporta-
ton to Rio de Janeiro. DR.. Pearson. who
became associated with Farquhar in his
South American business. is a director of
this company. as are W. L. Bull of this
city, and A. Ponistowski and Edward
Quollenec. Of Paris.
The banker who noted that Mr.. Far
quhar had the most astounding Of all
! imaginations also noted that he had re-
markable power In impressing his ideas
upon others. Paris bankers gave the
/ highest Endorsements OF him TO bankers
with whom ne dealt here.
So sanguine was Farquhar Of his sue
cess Of his American undertaking that
he had no more than begun the purchase
OF the stock in the roads he and DR..
] Pearson sought 10 acquire before ne
| bought costly residences In Paris and
New York. The place he purchased in
Paris was that owned by the late Ru-
dolph Kann, purchaser Of that famous
art collection which is one Of the mar
wells OF the world. In New York he