The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1912-12-23

person, association or corporation
from obtaining loans or credit In car
irying on legitimate business.
| Stilwell tells how he first incurred
the ilEwill OF the railroad kings and
master of finance by building the Kan
! sas City Southern railroad. designed
TO reach the gulf OF Mexico over q
route 100 miles shorter than any
other line.
When this line was started the rail
road monopoly was forcing the peo
| pie OF the west to ship grain 1,400
miles to the east. Rate discrimina-
ton was running Kansas and other
states further west. The Kansas City
Southern railroad was projected &c
compete with this railroad monopoly
by furnishing an outlet at tidewater
only 1000 miles TO the south OF Kan
sas City.
The road was built and reasonable
rates were put into effect,
Then broke the storm. Railroad
meetings were called In New York,
Chicago and other places; all western
roads boycotted the Southern for 80
days: their cars would not be received
by any railroad.
rates were forced down, and the new
route brought prosperity TO Kansas
City. But the railroad kings had de
cided TO get" Stilwell.
The demand for new cars became
90 pressing that II was necessary 70
finance the com pany more fully.
promised loan by George VI. Pullman
was depended on. The orders were
"a
complete the deal, and as he stepped
on the train read the news that
George NJ. Pullman was dead. A meet
ing OF the stockholders was called
and q reorganization committee ap-
pointed
StilweI went west again, and awoke
one morning TO find that Ernest Thai
mann, who had been made chairman
OF the reorganization committee had
forced a receivership at midnight on
small printing bill. When Stilweu
protested, he says. Thalmann replied
"Stilwell, want a large interest
in the road. Now here is your chance
Take this report and show II TO the
stockholders. They will at once sell
their bonds and shares, and ! will
carry you on the books for a million
dollars OF stocks or bonds" Stilwell
refused and Thalmann became his
enemy.
Stilwell was forced out OF the South.
ern road, and resigned as president OF
the Guardian Trust Co., which he had
built up.
Stilwell launched another venture
railroad through Mexico 10 compete
with the Hartman lines and bring the
coast 400 miles nearer-the Kansas
CITY, Mexico & Orient road He Sc
cured the concession from President
Diaz and obtained financial support.
Then started the distractions.
Wherever he went TO secure fnan-
cial backing for the enterprise. he de
clares, his enemies preceded him,
warning bankers and hnanciers
against him, discrediting his enter
prise and causing endless expense in
getting the bond issues sold
Finally, a S5,000,0 900 bond sale which
had been negotiated In Paris was
blocked by financial interests here,
and the Orient road was forced into a
/ receivership.
/ Stilwell waR blacklisted. he SAYS.
| and the order went forth from Wall.
St that any banker who let him have
credit would himself be ruined. No
banker has since dared 20 advance
him dollar.
Stilwell is deyoting his life 70 ex
posing the methods OF the financial
cannibals." lie concludes.
"The remedy is: Make conspiracy
to ruin business enterprises by dol
lars as unsafe as 10 ruin by dynamite.