The Pensacola journal., 1922-12-26
Forbes Business and
Financial Analysis
(5y q. c. FoRREs.)

Romance in railroading isn't dead.
Since Hartman and Hill passed from
the scene. there has been no really
picturesque. outstanding figure in the
railroad world-not until the advent
OF the two Van SweFingen brothers
of Cleveland, real estate operators who
began picking up moderate priced rail
roads not so long ago. Their negotis-
tiOns for control of Chesapeake and
Ohio bring them to the front as new
stars in the railway armament.
They have earned the reputation Of
being extraordinarily able fellows.
Their energy is inexhauStib1e. They
have courage unlimited. Yet, they ap-
parentiy we'd wisdom to their daring.
All their operations have been creative
and constructive.
The railway world Of today and of
tomorrow invites the appearance Of
Napoleon. The government is anxious
to have all ths 200 or more railroads
in America consolids ted into some
twenty systems. Here is a colossal
opportunity for the activities of a sec
ond Hartman. 1t is said that the
occasion begets the man. Has there
been. somewhere, a man ripening for
the occasion that now presents itself?
Are the Van Swearingens going to
prove big enough to battle their way
to NapOIeonic heights railWaywise?
They have at least made rather r
spectacular start. And they have
youth on their side.
A prediction: Wages will rise dur
ing the first four months of 1928.
guess how wages ana Other things
may go.
OF piqua mt interest 10 the banking
community ali over the continent is
the announcement that the Chase Ma
tional Bank of New York has climbed
10 second place in point OF size,
among the national banks OF the
country.
1t has dispIa aced the Nationsi Bank
Of Commerce. New York. whose presi-
dent. James B. Alexander, hasn't been
having particularly good luck in re-
tanning some Of his brainest associ-
ates. An unfortunate miscarriage of
promotion plans some time ago caused
comment in the institution and short
~ thereafter Vice-President Howell,
II
important step, quit. And now comes
the announcement this week that Guy
Emerson. perhaps the best known Of
ficisl in the Commerce. IS also leaving.
to become one of Seward Prosser's
right hand men, as vice-president OF
the Bankers Trust Company. NJ.
Emerson did extraordinarily effective
work in directing the various liberty
loan campaigns. The expectation is
that Mr Alexander will by and by he
come chairman of the board OF the
Commerce Bank.
One Of the important vice presidents
of the Chase Bank. Gerard NJ. Dahl.
has landed an enViable place as
partner Of Hayden, Stone and, Com
pany. Mr.. Stones health fas not
been Of the best for some time. and
lie is throwing off most of his harness
mcidentallN. Mr.. Stone is one Of the
best liked financiers in the east.
The man chiefly responsible for the
Chase Banks latest achievement is
Albert H Wig2in. During the war
Mr.. Wiggn vas chairman. but when
things became rocky everywhere, he
jumped back into the fray and took
upon his shoulders the duties Of presi-
dent. Ever since then he has been
working with tremendous energy. so
much energy. indeed, that his friends
have been wonde ring how long he
could maintain so wearing a pace
Changes among bank officials have
been abnormally numerous this year.
notably in the National City Bank and
the Guaranty Trust Company. Some
OF the vice presidents who have made
changes have stepped into bigger Jobs. |
Some Of them haven't. The last two
years have been a time of winnowing.
Wall Street. which additionally dis
counts events months ahead, has a
merger agreement between the Pacific !
Gas and Electric Company and the !
Great Western Power Company all /
ready for the signatures of Presidents /
Z. Creed and Mortimer |
Wall Street guesses |
right oftener than it guesses wrong. !
I understand that if the Armour |
Morris MERGER goes through, the first |
pig saving will be effected by trans