Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-02-11
Effect of Hawley's Death.

Edwin Hawley's death is threatening
sequeis. 1t may be that some develop
ments will have stock market effects. In
one Of the Hawley properties-Chesa-
peake and Ohio-there are troublesome
possibilities. Mr.. Hawley had for part
ners-silent partners-in his Chesapeake
and Ohio exp Citation group of
Standard Oil financiers. who at the
start bought Chesapeake and Ohio stock
heavily. But in the buoyancy which
followed this interest may be supposed
20 have lai gely liquidated, till now at
the taking off of Mr.. Hawley they are
relatively Insignificant holders. From
this quarter may be disclosed comp lea
tions not helpful to quotations.
One Standard Oil representative is
credited since Mr. Hawiey's death with
hypnotized u.s. We thought we had
what was Q good deal bigger than what
really we have got And this same
Standard oil scion is further quoted as
expressing sentiments which are de-
cidedly bearish In SO far as Chesapeake
and Ohio the chief Hawley property, is
concerned. Yet Chesapeake is higher
after Mr.. Hawley's death than il aver
aged for weeks prior to his taking Off
1t is like,ier TO be in other and lesser
properties that liquidation incident to
Mr.. Hawley's departure may be most
felt. That there will be-must be-sub-
stantial liquidating sales In various
Hawley properties is UNREASONABLE
for however easy IL may be to say that
Edwin Hawley had no sign of heart
there are many accounts upon the New
York Stock Exchange that were started
under his patronage. were based upon
his margins. were continued through his
friendliress-and such accounts viii now
necessarily have to be closed. Some
stocks which are likely especially to
feel the loss OF Hawley help are outside
of'the list ordinarily identified with his
name-properties Ike United States
Light and Heat in the curb market and
the New York Air Brake upon the stock
exchange. He was the sustaining in
fuence in many quarters of which these
are quoted as merely illustrative.
Trapped by Young Gates.
What follows, or seems sure to follow
the death of Edwin Hawley-as affec ing
n. pretty hong list of stock exchange prop
erties-is in pronounced contrast to W at
ordinarily is the sequel to a Wall street
TniIlionaires demise. Take. for examp e,
the John w. Gates record. Mr. GA ties
was interested extensively in many varied
enterprises. most of them capitalized by
the tens of nillions-and In every quarter
with which he was identified his invest
rnent were recognized as substantial. Yet
With one bare exception all the Gates
properties held firm following his death
for the reason that they whom he eft
were loyal to his personal position. Only
in his Texas Oil property was there any
material recession. In that particular
steck a group OF bear SPECTATORS took
the risk Of forcing quotations DOWN. ard
by ceiling stock they had to borrow to
deliver. They have not been interfe-ed
vsifh ttH this week. but now OF a sud len
the ISOLATION gentlemen find them elves
in attrAn-Charles c. Gates (real son II a
real father handing out unhappiness to
tho bear contingent by buying all the
stock in sight and bidding for still more,
with the. result that market quotations