The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-02
MONEY Trust
on THE GR|D|R0h
ATrfln DoUnr NOW. nu1 CON-
oness WILL HAVE ANOTHER
INVESTIGATION
STILWELL FACES ABOUT
FORMER CHAMPION OF ~MONEY
krNGs- RErUDIATEs his ARGU-
MENTs AND JOINS THE
PoPULACE.
STILWELL FACES ABOUT
tB, THos1As c. sHuTwEIL.)

fBy THOMAS C. SHOTWELI,.D
NEW YORK, Feb. IAN attack
an the money trust" wax combined
todAb, In Wan Street with an attack
ON the stock market. but the latter
IL least, WAS apparently Overcome
The mysterious seiiins of "Wednesday
was continued today and an attempt
waA made to have II appear that the
death OF Edwin Hawiey has some
thing 70 90 with IT, Later In the
afternoon II was discovered that A.
E. StilwelI. president OF Kansas CITY,
Mexico and Orient railroad. who wrote
q book about two years ago Gliding
the populace for cfiticssinG the great
money kings, had repudtsted his own
arguments and adopted those Of the
popuIoce. In q circular iaeuod ON
ctaafy BY the railroad company he de-
ncuncsa the money trust" and ;ts
methods which he describes a. worse
than those Of the black hand.
Stllw~ll. brings the money trust
question officially before the public
In such . way that It can hardly
b evadsd BY Congress He has sent
4 copy OF hts circular TO Chairman
HenSy, Of the House Committee In
Congress, and the circular makes It
ov1dent that he has IN abundance OF
eyf4oncs with which 70 prove his re-
marhabls chargsA His evidence win
attack not only the bankers Of Wall
street. but management Of the Union
Hn0Snc and Atchtson railroads through
Whose territory his new railroad II
being built
lsyssey solved.
Tsls circular apparently solves tho
Nutasy Of selling Of Unien Pacinc.
II d clear nos that the stock was
eoa1 ~ somebody having advance
knowledge Of what Mr.. Stilweli in
9eaAed 10 do. The volume OF that
eplItng makes Il. evident that some
peesone Of considerable financial
aGrenGfh ara Booking him In the night
= that the public and the banking
fraternity may ~ well prepare at
once Tor an Investigation OF the money
strust
Earnings. OF the Steel Corporation
ana death OF Mr. Hawley had very
little TO do with the weakness OF the
market The volume Of trading to-
aav was large. Prices made early In
the afternoon were low records for
The year and reminded the Street
painfuliy OF the prices recorded last
autumn. Publication Of the earnings
81 the New York Central lines for
December showing a net gain Of ST.
y3&sNSV ~ shSNbhS NAsA @~A
nouncement by the Pennsylvania that
~ operating revenue for December
Tor Al lines had increased t1.27o.-
SDg. started a rally that closed all
the leaders with material net gains
and II about the top prices OF the
day.
Echwsb Follows Hartman.
Charles NJ. Schwap. by the way. 10
following HaIrimans dividend plan
n n iAh As ia rrsrxS
pany The Bethlehem Company will
make an annual report In the near
future and persons close to the man.
aHement say the earnings will he bet
ter than they were In 1910 A very
large amount. however. has been set
aside for deprecistions 80 that the
earnings with show possibly per cent
allica Bile to dividends on the common
stock after allowing for the preferred
diytdends. But Bethlehem pays no
dividends on this preferred stock and
the preferred dividend Is not cumu-
/. latfve. Therefore the Bethlehem
steel Company is growing stronger
and stronger every time the preferred
diviGc 10 passed. The only weak
feature Of the Bethlehem stock as an
investment Ia tho possibility Of the
government not wanting any battle
xhips or arn1or plates, hut in spite Of
thu peace conference and peace ban
quet In America and cian,or!nFs OF
foreign nations Tor peace. the battle
ship industry 10 about the healthient
Of the world today.
Many persons believe today TINT the
aAiling Of the stock market had some
thing TO do with the earnings just
reported By the Steel Trust and there
was Z rumor that the dividend would
shortly be reduced. There 10 no doubt
that steal men ~ class are not very
enthusiastic about the prospects for
the year 1919. Some of them think 1t
WIN be worst In the history OF mod
ern trusts, but this one thing can be
ret down ~ rock bottom truth. that
after tho Independents have quit pay
Ing dividends the Steel Corporation
will stu be able to earn $4,000. 900
Z year IN net. This will pay the pre-
xerred dividend and OF 4 long way
toward keeping up the present rate
en &he eoMnaaa. The presssssa aag:ss
dends seems to be safe under any
ret OF circumstances.
Number of shares today, sos.927: a
year ago. Sli.777.
Par vxlue of bonds today. $685.
see: year ago. $s.o1o.opo.