WALL STREET.

Dominion, Volume 1, Issue 17, 15 October 1907, Page 5

WALL STREET.

i&UMP.;

■'::' ; ATTRIBOTED i; i:b' ; RAILWAY MAGNATE; '..-■"!' , BT TELEQItipS—PEES3 V ASSOCIATION—COrTRIGBT. '•■',£*)?.i 's& i'■';i',C- -,i''ir,'Ncw'VoirkV October 13. •■ ■■ >:i; :;. ;Th'ere.-isl-a/slump!on tiio -New, York Exahangei 'recaUingiibho March;panic. ,' ,1 : : ..,.,>, is due \'to thVrumbur that Mr. vHarfiman is reducing, his holdings in the ••■ > railwaysK. "■'■'': : '■■'''l ■ r y''' .'^•i^/:fcHan'iman : doniest;his. ;j - • ..■ ■.•/.., > \ u "'/'-It is' ! a pecnliar'-'coincidence that in a fow ( ■ lays'.'timo^Octaben2l—is due the heavy.: prp.-> jieedings :.broaght by. the Government ngainst J,r -"'V Atr, : -Harriman..to compel .him. to answer ques- .'>.•=■?'-' /tions Avhich' he, declined'.to answer during the y■,>,•• (Investigation! into- tho affairs of.';tho Union' '7 t 'pacific. Ifeiilway. '.Among the-questions ' aire ; ': :■ :I c6ncerning'rhiS' interestinvstbeks-sold ' •' f ft> ! Uho'"-Union; Pacific, 'his. profits in. .theso /ransactions,-. and : . his purchases (if any) of '' Onibi'; Pacific ' and Pacific in the i.iv market .a,short itime ,the dcclara,v: V<fion;bkaClO : per..cent.'dividend,<AYreport'of' ';/ihe''.lnterstate""Cohimefce 'Commission; has ' «hown\that Mr: Harriman secured-'the control .. W all railroads reaching the Pacific coast; be:Wi'/:tween;',;Portland;.andVi'Alexicq; f the .Atchison Jir.!' Jroad : may. beexempted, .but in that Road.the -» has.a largo stock . interest.'' 1 .VJi.', ; lt;.'is;stated with, "regard to;the Chicago and " '*■ 'Alton-Eoad that a syndicate consisting.of Mr. •Harriman', < Mr. Mortimer L. Schiff, Mr; ~ Goorg'o J. Gould; and Mr. James Stillnian in-' *- creased'.the -BapitaL indebtedness, by. 80,000,000 .*?.'. dollars,] >butNspent':. only ,18,000,000 dollars in . .actual, improvements.'or additions' to the pro-' .the'publication r of the : report/' there was much conjecture in New York as. to whether. Mr! Harriman wouid, be prosecuted i.y .; on nth'e/statements.,in > the.repdrt;. and it ivax -: VaUeged^that'■ he,,and, ; others had secured ini- : • condition'of'assisting..the Gdverri- , fcent'.' i tp*pfbbure' ; th'e' cbnviption :of the Stand- ' BrdOil.Trust, which was recently fined several :' millions. :, Interviewed, concerning the report of' the.' Interstate "Commission, Mr. .Harriman said :-r-j4 It, is deemed good politics to attack • V stand: it. much better than the .people Of.!this'country ban stand that sort of .- procedure on the part of the Government tribunals . r charged" with", the duty of impartially; ( administering the laws." ';'.;,■•