Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-06-26

very great backset, even though the
Standard Oil Company be put entirely
out of business. Texas furnishes an OBJ
ject lesson in this field. The common
worry along without the Waters-Pferce
Oil Company, and in other states where
corporations have been forced to obey
the law business proceeds without loss
| or interruption.
The July disbursements of interest and
dividends on railroads. industrials, trac-
tons and bank stocks foot up to $24.-
100000. an increase of more than $1s-
100000 over the July disbursements of a
year ago. This stupendous exhibit OF
money earned is fiat and infallible con-
tradiction of the gloomy talk which has
been INDUCED in SO largely in and about
Wall street during the last eight months.
The country as whole has been max
ing Roadway. and organized business as
a whole has been making more money
than ever before. This could not be the
case IL the general situation was any
where near as bad as represented by the
Wall street bears and their agencies for
the dissemination of misleading so-caiied
news.
Lehigh's Mellon-Cutting.
The action of the Lehigh Valley rail-
road in making what is virtually 80
per cent extra dividend to the stock
holders by letting them in on an increase
in capital stock will be urged as a rea-
son why the railroads are not justified III
freight rates on shippers. 1t Will be
pointed out that wherever railroads have
kept their capitalization down within
reasonable limits they are making big
earnings, and that this would be the case
everywhere II the several systems were
Obliged to make a fair statement Of
actual property valuation. This is fea-
ture of the problem which will be brought
directly before the interstate commerce
commission during the summer months
while the rate problem is being threshed
out. It may have an important bearing
on the final verdict.
Two of the great capitalists of the
western hemisphere left New York this
Thomas F. Ryan heading for the Kongo
region in Africa and Jacob II. Schiff
with an extensive encourage proceeding
to Alaska. Both of these old men are
heavily interested in the development
of the resources in these remote sec
tons, and while they are away they
will doubtless make very ambitious
plans in connection Herewith.
Copper and Rubber.
Mr.. Schifr has become interested with
the Morgan Guggenheim syndicate for
tho exploitation of copper, coal and
precious metals in Alaska and in the
mind Is concentrating on rubber and
on the uplift Of the colored race in the
Kongo valley. 1t is not believed, how
ever. that he will be able to replace the
legs and arms cut off Of thousands of
poor slaves under the humane direction
of his former partner. the late King
Leopold. He may, however. establish
factories for the manufacture of artifi-
cial limbs and confer upon the mutt
lated population new legs and arms at
cost. or at least cost plus a reasonable
manufacturing profit. Mr.. Ryan has
said that he is very much Interested in
the moral condition Of the Kongo peo-
pie. and he probably realizes that the
physical uplift goes hand In hand and
leg in leg with the moral.
The other interesting disclosure made
by Mr.. Ryan was that In his opinion
some Of the old veterans Of high
finance might die and the country still
be safe in the hands of seven young
sters -t7-count end. namely: J.
Pierpont Morgan, jr., Henry P. Davi-
son, Otto II. Kahn, Mortimer l. Schin,
John b. Dennis. George F. Baker, jr.
and James Stillman. jr. People are
wondering why he should have left out
John ID. Rockefeller, jr., Henry Rogers.
Frank A. Vanderbilt and his own hope
full heir Allan Ryan. He seems to have
neglected to furnish a complete list OF
young country saviore