Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-06

Tho trouble with this firm was that
It was too clean and TOO hish e'a
It had an expensive organlAa.io,i,
very likely strict auditing "ouiu ..
the fact that 1t was eaten up py IT'S ca
nenses. and that it did not charge ehousn y
for services rendered. 1t did nos eA s,aot
suff,ciently heavy toll on the tranlc tha'
passed through it's hands.
Others Not squeamish.
If can never be charged against the
conspicuously successful banking anu
nromotion houses in Wall street that they
failed to levy toll on enterprise. oNei
modesty in this respect Will never cause
tho dry rotting Of such houses as ).
Morgan & Co.. Kuhn, LoeD q w.
sneyer &: Co.. Blair & Co. and the DOZENS
of other concerns that stand Out as ,io "a,
ments of strength in the hnanciai eap
60 broke through failure to charge
enough for financing enterprises Ia,
come to them for safe pllotlng.
Morgan & Co. organized the steer tIu 81
they took about 1.2UoOo snares ou. ~
the 10. 600, OOO-share capitalization Tor put
ting through the deal. an allotment .r,a
vent to the notwithstanding I
underwriting syndicate that put itself
behind the play. This syndicate was Go
only called upon 70 to p pH. COO sp profit with,
in three or four months. II FISK hopin.
son e. Co, had done business on ,hat
nercentage they would never nave Ia.eu :.
wall street is looking forward WIN
sort of amused anucipatioss NJ lanes
forthcoming examination or MT. JAMS &c
p Keene by a referee In bankruptcy loI
one of the houses that went 10 pieees IA
the Hooking Coal and Iron expioslon. VI
Keene Is supposed to know al aou n 90 ,a' :,
nool and to be in position Where ne cah
throw a mighty light on the perIorl,-
,nce The unfortunates who lost money
nv the failure of the speculative 80.
naien have been openly ana pINa.e,y
charging that Mr.: keene ough. n ~ , pe Tin IN
some way he did them wrong oh .ne
other hand Mr.. keene's friends say lna'
the veteran speculator is In reality entl-
tied to pose as vicarlous sunelea ni iod
the imprudence of those VINO were a'iieu
with him in a speculative zeal.
Likely to Make Good Case.
II is entirely safe to assume that MI
Kaa,a will have an interesting defense
AGAINST whatever accusations may be
made against him. He is one OF the
ab,est strategists ever on the Wall street
stage and his campaigns are always plan
nod with the greatest of care. If he ever
burned his bridges down behind him the
fact is yet a secret.
The stock exchange would like very
much to make scapegoat in the case of
Hooking Coal and Iron. The public
clamor for one has been SO insistent that
exchange authorities feel they Will be
derelict in Their duty if they do not sup
ply one. Mr.. keene. not being member
of the exhange, is beyond their reach.
Next to him Mr.. Hask ms Of the firm OF
Lathrop, Haskins & Co. is in rank as
bright and shining mark. The OPINION
is held by those conversant with the IN
side affairs that Mr.. Haskins part
throughout has been clean and honorable,
and that when the dust has cleared away
this fact will be establ shed beyond
neradventure The future of the property
itself is still involved somewhat in doubt.
Whoever gets it will have something well
worth while. and it Is certain sooner or
later to lodge in strong and appreciatiVe
hands.