New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-29
market Hears New Report
About Reading-Talk
of a Syndicate.
o,TF INCREASE NOW
SEEMS MORE REMOTE
,,..ter Railroads Worried About
waiting Prospect of Long
Test Is DiSmaying.

20 Baltimore q ONO al" ISNe "'I''
800, ,ben have a percent OF the frst
$50 S. per cent Of The second pre-
and ~ per cent of the common
t As much more Of the common
10 owned by three or four moi
chose interests are not dissim-
.sose OF the railroad stockholders.
49,. choose they can make or unmake
90 I'M the stock. They can sVe
q, stories that the road viii dis
-. lis aSsets-assetS which, for All
600. knows. are grossly overrateo
.s,,, moderated. Books have been
- about that) or they can help
s.-.ef fa believe. A. II did yesterday.
syndicate has bought the b. &
,,.5.res and the Lake shores. and
s...,s.t.r- them adrOitly IN the open
-. fr the financial district they are
- a rftfe tired. however, OF the idea
.,v,-y time a brokerage firm idenu-
-, uerry Is. Prick sells Reading
r-es IS unloading
Rock Island Liquidation.
o.. ,.s, time that there was heavy
-..,.,- I'm the Rock Island shares and
'-,,,,e-ar trust bonds rumor was on
49,. scent and was not set right until
,.,,re known that the Phelps-Dodge
- were o. take over the manage
-. N the company. Lately rumor has
n. h-sr aeain. snd this time the sell
!. A. Rock Island issues IS not attribute
% re retirement Of the Reid-Moore
.,-r from the property. bat 20 hquds-
,tab.g b.ook of the stock and some
1 n. bonds held in common ownership
4 !, : block OF Missouri Pacific shares
sosnathrift Railroads.
,,--ith-ift who attempts 10 retrench
49,. his credit meits away ike snow
-. river = raload which has had
a. fo- ifs necessary growth for a
-. NJ wears with one note issue after
.....s- each with heavier discount
- the iasr. Isl IN the same position
-. are O number of railroads IN that
..s,-, AZ che present time. Their credit
~, r--ra-.ous focging. but they can't
!, -,forr.nr their financing To them
Il .o sDe-u.ators interested IN their
.-.rrss the Interstate Commerce Com
..o-.s p~onounccment Of Tuesday
.,,s, d.e1,ar These roads, in common
i. ,b.sr 8 lrI.er brethren. have been
"a ina. the legacy which was to be their
sssrer-thc increase I'm freight rates
III come onIy when they have learned
economic
Standing the Gsff.
] II s one THING 90 make a gift on
~~.ss of reform and another 20 with
n +, grtn the reform is demonstrated
la 81 me roads which have been giving
rates IN tlc form of special allowances
vr line. were TO stop the practice
~.d,ate',. and if an roads could iu-
fee A. once sure methods OF gaining
sasnct. 70 word stiIl be months be-
fs Inc fruits or the change would be
rslent enough 80 warrant the Inter
rae Commerce Commission granting
~ nelgm rate increase. II might be-
"a. Street argued Yesterday. that ma
r,y Of the roads would not then be abe
show the need II an increase. But
'e.ld tie weaker ones stand the strain OF
rs loar test2
Railroad Parasites.
4 ts an orcu secret that What the In
j 'esis,s Commerce Commission is most
,uious 20 break up Is the system OF
Tsti between a large number of the
aroads and certain supply houses An
*sf OF ore 90 the large equipment
Inpsnies said recently that the public
ts-d he surprised II IT could learn Of
me % the practices by which railroad
1su we're sweued FOR the benefit OF some
4 Sire directors and other insiders. Many
Z u6sr for equipment ne said. was
l2rtsd 20 companies only with the pro
70 that ihcs use a certain coupling or
lie ~ what not. the sole virtue Of which
rs that 10 was manufactured by COM
Any In which some Of the railroad direc-
rs we're stockholders.
How They See II Abroad.
4 ?. Yoakum. OF the Frisco road. and
he syndicate which helped il 70 &C
re southw estern properties, said few
PAS az, in DIS apologize that public
n,on had changed in the last decade,
- be implied. il ne did not expressly
az H. that little financial matters which
'as.d no criticism ten years ago were
Re frowned vpon now In view OF Mr.
'lssn explanation and OF the Inter
a'e Commerce Commissions report on
''eo AFFAIRS this extract from an opin-
q The London Statist' may be Of
west 10 was not prompted by the de-
''fnenis Boo the Frisco situation, but
N1t Vas the wholesale retirement OF
Aofgan partners from efficient d.
"'Taies IL Is the duty Of bankers,
The Statist.' TO act impartialiy
f'"een borrowers and investors. and
~'eun!se with the greatest care the
-NNes offered and the prices demand
~iofe recommending those securities
"ia'esung public. II. however, bank
are directors % enterprises which
- % borrow largely. they unlntention-
81 "io" their weight onto the side Of
q ''oNcr against the investing public
n mpartah'y OF bankers as between
''stfs and investors is essential 10
tneei'e working of the credit sys-
tfISE MAIL NrnErr hrxfyO