Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-01-29
YOUNG men GET TO The FRONT
Financial Institutions Shifting Bury
dents to Strong Shoulders.
OLD MEN IN ADVISORY ROLE
Proposed Large Issues of Railroad Sc
Curities Arouse kccn Iutcrcat In
wall street-IIiEh Finance
a. waiting.
m PRESTON q. ADAMS.

BH PRESTON G. ADAMS.
NEW YORK. Jan. 2S.-tSpeCial to The
Beo)-ln finance. as well as In other lines
Of endeaVor. the young man Is coming Into
his own. Recent bank changes IN New
York have served TO emphasize the gradual
shifting Of the burden OF finance 70 young
Frank a. vanderlip Of the National city
bank, Francis l. HinC OF the First Ma
tional Albert n. Wiggln OF the Chase Ma
tOnal, James G. Cannon Of the Fourth
National and Samuel Wolverton OF the
GBllatin National are all young bank pres
dents, many Of them on the sunny side 81
90 Thomas II Lamont and William II.
Porter who have Just entered the Morgan
trust company presidents, belong to this
class. So does George NJ. Reynolds OF
Chicago, who heads the largest bank OF the
west The tendency seems TO be TO place
men between 40 and 50 at the head OF the
great institutions az the older men drop
In many instances the older men are
made chairmen of the board. and II may
be said no moro elastic office was evef~
created than chairman Of the board"
mean everything All depends upon the
man filling IT, and upon the wishes Of
directors.
ola Ones Politely sheIvcd.
The president OF an organization who
| has outlived his usefulness instead Of
! being vulgarly dismissed, can politely be
elevated to the office OF chairman OF the
board, with, however. no powers or
when great many details press upon n
man of conspicuous ability. IL is sometimes
convenient to have a subordinate made
president and invest still fuller powers In
the former president as chairman. We
/ nave had several recent instances Of both
| kinds Of changes. OF the so-Called promo
! lions which have really meant superan-
nuation, IT were unpleasant to speak.
But when man like A. Barton Hep
/ burn becomes a chairman Of the board II
! the Chase National bank instead of presi-
dent 1t simply means that he will he re-
| lieved of irksome routine duties. so as to
| enable him to devote more time to large
/ problems. When Mr.. Hartman first as
! pred to rulorship in the Union Pacific he
was denied the presidency, but was made
/ chairman OF the executive board his CO.
/ directors quickly discovered. however, that
| This office could carry with it more power
than the presidency. and I'm due course he
| was elected to the latter office as well as
TO the Craftsmanship.
New Railroad Issues.
J AS talk Of contemplated financing by
numerous railroads is being INDUCED In
| throughout the street following the an
nouncement OF the Pennsylvania's plans
for authorizing the issuance of 10000 1Oa
OF additional stock, 1t Is not surprising that
| the New York Central is credited with
| being next on the program of roads plan
| ming TO issue new bonds. One rumor in
connection with the plans OF the New YorlnA
Central for new financing had II that this
road was about to issue SO 900 coo Of per
cent debenture bonds at 81 or NlR, while
| another rumor had IL that this issue al
| ready had been sold. The latter rumor
was denied in official quarters however
and all that was definitely learned was
that the company has in view some
financing which has not yet been approved
by the directors or shareholders
Just how soon arrangements will be made
Tor this new financing is not known, but
indications now are that no flotation will
be made within the near future sr~--.
OF course publication OF the plans OF the
Pennsylyan ia. railroad TO authorize the Is
suance OF SlOOO)O,OOO more capital stock be
arranged in order 10 supply the road with
funds needed to pay for additional stock
In the Norfolk q Western stock about
eight months ago which, with it's previous
holdings, gave It clear majority of tina
| Norfolk q Western stock There never has
been any official announcement as to how
| this purchase of Norfolk 81 Western stock
! was financed, but IL Is known that the
| amount which the Pennsylvania bought
last summer was larger than could be COW
! cred with the proceeds OF the s4O.OO00OO OF
| new Pennsylvania stock which II is now
proposed to issue II any considerable por-
ton thereof is to be left for other pur-
poses
High Finance BIdes Time.
Waiting" That, I'm one word, sums up
the attitude Of high finance. 1t is waiting
Tor the supreme court decisions II is walt
Ing for the Interstate Commerce commits
sion,s ruling; It is waiting for trade de-
Yelopments 1t Is waiting for new issues OF
corporate securities; II is waiting for the
monetary commissions action. MEANWHILE
a utuAIdl course Is DelnE followed as Tar
as possible, although. of course, things can
never be allowed TO stand sim. on the
stock exchange nothing of outstanding Inn
portance is occurring; prices move down
wards and upwards within a rather narrow
range and the daily turnover seldom ex-
ceeds 800 600 shares. If the quotation which
the word hopefully could be added
though this addition would not be sub
scrtbed to by all factions. There are still
few influential people who cannot see a
bright outlook.
The Coffee Market.
} New Orleans is steadily forging TO the
front as a coffee market. The total figures
of Brazil coffee imports for the year 1910
Of shipments TO New York as compared
with New orleans. The imports OF New
cent; to New Orleans 1,S62s99 bags, or 40
For 1909 New York imported 4,474,4i5 bags
spective percentages OF shipments being GA
and 50, while in 1908 they were &c and a.
TurDentine Price IL High.
Another gratifying bit Of Industrial news
for the south lies in the fact that the price
! OF turpentine has reached the highest price
since the war, with cotton and turpentine.
two Of its greatest staples setting a record
! at high prices there Is small reason TO
wonder at the very optimistic feeling which
| exists in the southern section Of the coun-
try.
Railroads Making Money.
The new increase In the Canadian Pacific
dividend has evoked comparisons between
the prosperous state Of that railroad and
those in the United states. But what are
the facts? A little investigation win bring
out that within the last twelve months
: despite all The talk Of hard times and
cruelty low freight rates, not one or two
, but a score Of American roads have raised
their disbursements TO stockholders Here
Is a list that does not pretend TO be COM
plete, but which Is sufficient TO substan-
tiate the claim Just made:
Per Cent
raid Rate.
1893. 1910. Change.
Chesapeake q Ohio.
G. Q. c. & st H. com. ~
T.Ft A.