The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-12-06
WILL REORGAN|zE
WABASH RAILWAY
WEEDS VAST IMP n o v r N b NTs
WHICH Will. PROBABLY BE
MADE SOON.
VARIOUS EARNING
rAFers MESSAGE PLEASEs IN THAT
HIS STANDS BY SHERMAN
TRUST LAW WHICH
VARIOUS EARNINGS
II, THOMAS G. sHo1vwILL,

EN YORK, Dec. Dr. oiloNthb
TIL example set by Erie a few years
ago the Wabash Railroad Company
to-day went Into unorficial receiver
ship oiaciai announcement was
made that the road would ba Teor-
ganized. Committees, directors anu
bankers were named for that purpose,
securities Of the company Collapsed
In the market and the company moV-
I'd rapidly oft of its position az a dis
turber OF the general market rev
low records were made for WABASH
stocks but the general market yield
Cd but slightly. strength OF the otheI
4 stocks was perhaps due 10 the Iact
that President Tafts message maze
It's official appearance and reassnreo
,nose few persons who did not see
II last week.
Trading was strictly professional
and was on "A small scale. Transac-
tiopg except in Wabash were without
Importance as everybody vas hoiuihk
nIpof watching the situation In that
company.
TIE street did not fail to notice
j that the plan for reorganiZing Wabash
IL SIMPLY another formal expression
az .he dlstr,ist in which high hnance
holds the courts Tho courts nave
shair clutches on Wheeling ana Lake
l.ri.- and wabash Plttsburg Terminal
Apd seem determined 10 absorb wnat
nrfte vitality those companies pos
Sessed The remarkable success OF
Erie leads 10 the belief that the
Wabash affair viii be equally sue
wabash Needs Everything.
Wabash needs about in,oee.ooe IN
actual cash in addition 10 ~haI u
can yet by refnnding. IL neeos aI-
most everything that q railroad neeus
Its rolling stock. roadbed ana Ter
ina,s are all in q deteriorated conui-
1s,, ..,tt nfyf nj
rapvrs credit is revived TO snch al
extsnt that all the financing necessary
gan nov be done . rs
with Low s. Pierce chairman OK
the reorganization comnaittse' M"
was active In Union Pacific Years ago
- tne REMEMBRANCE OF Kuhn Loeb
= COMPANY. as bankers. after being
tbrown overheard by the Gouios' IL
considered "a very hopeful oeVei"p
uient. .Aatr an
The specific reason Tor thelf ap
mearance Is thav sthe irm piaceo
smonv It's customers about ss."VV,-
s,no ~ Wheeling and Lake Erie notes
ush,ch win have 10 be PROVIDED !oi
IN INC Wabash reurganization- bes,
nninion seems 10 be that Erle Mia,
yet the Wabash PitlsbuIg ieTH'i'@i
property. o,
pr..sia.n, Tafts message was raw :
rr.n MY received, In demanding Ma
IN. sherman law be permltteo "
stand ar, the statute books and IN aia-
y no,1nclne that il will he rigldiy en-
forced he added nothing 10 WhaI nc
las already said repeatedly. ms cue
y.s,,on that he would favor 1. statute
strene thenlns the c'tI'ulai ,e,aI
IN. iaw MAS received Win se'''.a "a
saver because business Men want SOME
uef,nitjon OF the crime OF restraining
commerce.
The business anen cannot uhuer
stand why the government GOES nol
consider congpiracies OF union 'a'"f
valuations of the law. although con-
.rd-ncles OF labor are 80 held. Bust
negs men want light and nothing more
and Mr.. Taft's message opens the way
Sas Y0r further tight fresa Congress
The Presidents suggestion for a
commission TO regulate INDUSTRIAL COIL
binations just as tho Interstate Com :
inerce Commission regulates faiiroaoS
IL regarded favorabiy, but doubt Is eA-
pressed as 10 tho Constitutional power
Of the government III that direction.
Various Earnings.
Earning Of 81. Paul for October
show further shrinkage. The total
operating revenue WAS s3st,73e less
that october OF last year. ana the net
4la0,5 SIS Iess. The Puget Sound, how
ever shows &n increase Of sl0e,33s In
ret operating income for the month.
ahA Tacoma and Eastern showed a
decrease in operating income OF $l2,-
gfT, So thut the net decrease for the
system, is slf5.476.
Subsidiaries of the Standard OH
were dealt in today fer the first time
individually. Among those In which
transactions were recorded were
II Standard OIL Of New York. Galena
Sigfai OIL, STANDARD Oil. OF Indiana
s chesebro Manufacturing Company
yacssnsa Oil and Waters Pierce.
The danger Of dealing In these
stocks is great. Every great trust like
. the STANDARD OH must in the course
d Df 8 long series OF years accumulate
rs subsidiary companies that are d!sap-
III paintments. The trust would gladly
II dispose Of such companies. hnt thell
unwotth.ness is concealed while tht
big concern In operating a unit In
80 fact they may be- made worth some
thing by .he cooperation Of Other
sSsiz subsidiaries. Forced "a stand by them.
II SELVES, however, such subsidiaries
3 viii quickly demonstrate theil
lark OF value. Nobody but tbs
f.sidHr has any IDEA where TO iooh
n Il ~ these weak spots of which there
npnss b several The ordinary stock