El Paso herald. (El Paso, Tex.) 1901-1931, 1915-12-29
Hedges Has Made Fortune In Baseball
-:II; -:I:- -:II:- -:Il:- -:I:-
Feds May Have To DisgOrge Capital
BY JOHNE, wRAx.

1T, LOUIS. No, Dec 2s.-when ii
comes TO frisking the smoke
house and bringing in the bacon
leave it to our old friend, Robert Lee
Hedges, late Of the Browns. Robert
went after his first bit in the year
1902 and has been bringing it home sys-
tematically ever since This repre-
sents the climax Of this successful ca
reer-the beginning Of its end. by the
way-for he then received his first
payment from the Feds on the club in
which he originally invested $4,000
and from which he win take out S252,-
600 as his final portion
A Napoleon Financially.
Hedges embarked in baseball with a
capital that today would seem laugh
able. He started in war times; he
went through IA years in which. with
only three or four exceptions, his club
was in the second division. He fin
ished up his career after going through
two years OF the worst war known in
the history Of the game. Yet here's
what he accomplished. financially;
Paid 400 percent dividends during
the first seven years.
Bought ground and improvements
Disposed of the clubs stock for $500
a share, or five times its par value.
Just Surround This Fact.
Roughly speaking. each 500 par
value share OF the Browns has earned
SS58, In Il years, despite wars, tall
end teams and competition When II is
remembered that il takes 16 years. at
to double itself. Hedges's ability to
bring home the candy will not be cues
toned
The S252.OOO which represents
Hedges's share Of the sale price does
not represent all that his sOjourn in
a. NnrnTT Hua p n no
has drawn about 1905 0G in presiden-
tial salaries. He has received about
$50 600 or more in dividends. The
total foots up close TO 100000.
Capital considered, no magnate in
the history of the game. If we except
Charles Webb Murphy-whO bought the
Cubs at the burning shame price Of
Sos. 0e0 and won four league and two
worlds champiOnships-eVe performed
such a Napoleonic financial feat
Was Full Value Givenf
But-what about the fans? The
contributors who made this possible
in most cases view the retirement Of
the man who built up the local Asleri-
can league club with satisfaction The
impression prevails that the clubs
pocketbook was lined at the expense
Of the baseball given 10 the fans.
And as they put up the money that
went into the A L. exchequer, they
believe they have right TO kick.
Therein they part company from MI
Hedges himself, who has always be-
lieved that ball clubs were built up by
the expenditure OF brains, not Of cash
The discussion is still open, but We
hope they'll resume the argument in
the cellar henceforth-
Feds VII Noe Escape CheaPIy,
There are 81 ironclad contract play
ers with the Federal league whose fu-
ture is underWritten by "Archangef'
Henry Ford Sinclair, the baseball peace
specialist.
These "a players. or such part of
them as is. not to be carried by major
league teams. will revert to minor
league berths. The minor leagues, be-
ing all financially mangled by the A.
centimeters of the late Feds, have
cut their salary lists heroically-
Thus, all the players who go back
TO the bushes, presumably about SO Of
the 81 at low estimate. will have con-
tracts calling in some cases for much I
more than twice as much a the salary /
lists of the minor leagues viii permit 4
them 10 pay
into the pay roll with war time con- 4
tracts that are out of all proportion TO 4