a rrm sintday tress Binghamton, N. May 16, 1954 Ruthless Battles of Yesteryear Make Rail Wars Today Tame N.W Slocks BUecoE'd High Low Last Not Ch High Low Last Net Ch High Low Last Net Ch A 1 Pit Va 23 21 4- Is 31 30 23 22 tension ia 8 23 27' 4- Oil 28 26 Flintkote Fla For.t Wheel Frcept Sul Frueh Tra 31 46 25 81 25a4 Ilvhiml Tviplv 1 itivn Vtnj 11 oils Gardeners Ripe For Humus Racket, Dwarf Grass Line 46 24 62 25 47 25 61 26 4- F.l Pw 18 18 18 4- la1 Press Stl 8 7 7 I Press pf 34 343, 343, Abbott Acme Stl Adams t.x Addi Admiral Aim Eq Air Red uc Alaska Jun Aileg Cp Alieg pf 76 I 23', a 21si Gair. Rbt WnnH 4 3 I Proct 77 76 Pub Sv 27 2ti Publick I 10 9 Public In pf 76 7534 Pullman 54 51 52 21 72 19 8 2J 3 3 13o 89 31 5' Am Tran 47 4- a 4- 4 4- 2 4- 2i 47 21 32 VI 18 8 21 3 T. 117' a 87 30t 95 53 58 71-', 20 23 3', 46 140 23 12 10 46 9 140 23 ll'i Pure Oil 64 61 1 26-3, fl3, 76 '2 54 63 109 30 155 2i 6 144 23 12 Pure Oil pf 109 109 Gen Bak Gen Bak pf Gin Gen Cable Gen Cbl 2 pf Gen Flee Gen Fman 34 33 34 1 1 -t- -j uuak oats 30 4- l'a Quak pf 153 4 Quak St Oil 21 118 114 114 Vl JT 9 inn t- 4 RKO let Ri() Thea 2 4 Radio Cp Allied Ch Allied Mills Allied Strs Allied St pf iAIns a I Alum Lid 'Alum Am Amiil Sug Ami-rada Am Ag Ch Am Airiin Am An I if Am Raker 'Am Baker 61 663 71(1, 1H3 Ifll'. By WILLIAM LAWTON Sunday Press Business, Labor and Industrial Writer II'VEUYTHING ftrows well in spring, including chances of making a fast dollar.
The homeowner with 28j, 27 2S 27 27 27' L- rr JVfe- HJt'J1 26 4- lia.v onicr Raytheon Reading Co 59 3 31 4-1 'iv t. i4 1 i 4 r.i,... i 21 31 Am pf Reading 1 pf 39 4 Reading 2 nf 31 Reed Bit 17 Reeves Br 13 4 Rem Rand 19 Rem Rand pf 96 Division of the Binghamton Chamhcr of Commerce, is jj''8 easy prey for a variety of warm weather pests. Bd Par sneh nn.1 In fhf rliviinn'c hr-itlr K- (tin Am Par if 10 Gen Gen Mills Gen Motors Gen Out Ad r.en Grii Prec Eq Grni'rccEo of Cfn Pub rt Gen Ry Sig Gen Roll ac Gen Shoe Gen Tire Gillette Gmibel Gliddrn Goebel Br Gondall San Goodrich Goodyear Grab Paige Grand Un Gran Stl 5s 3 3 2 Is, 4- 1 4- 4- 1 -i- 2 2 -i- 4- 1 1 4- 'j a 4- l'J '2 4- 34 4" 3: I 4- 4- 4- 1 4- 2 1 4- 4- 4- 4- 1' 4- 2 4- 2 4- 4- neo Motors 27 58 71 20 27 21 46 33 57 15 34 7 11 R83; 63 1 34 16 36 18 4- 4- 3 4- 4- 4- 4- 1 l'-'i Ha 1 Am Par pf 17 peddler of "Peat Humus." Describing the "humus Am cbi 5 racket," a division spokesman said: "He roams i pf 88 the suburbs, his truck piled high with rich-ap-1 Am 32 Repub Av Repub Pict Rep Pict pf Repub Stl Revere Rex Drug Rev Tob 62 61 61 26 57 35 70 26 20 46 32 54 14 33 7 10 88 63 1 32 15 36 30 18 51, 15 2534 3'1 4 19 301 12 5 4Hn 21 a 33 71 19', 8' 2BJ4 3 35, 130 1 4 83 30 'i 42'2 S4' S11 73' 4 21 188 hi'j 12 7t 101 21 fiOa4 li 17 S' 37 86- 328 48'' 104 3.V, 3', 54 14, 25 48' 2 1834 3-11 4 43 1R1, 2K'j 31 47'i 167i4 83 1 2 35-1, lt)i, 184 13:, 38' 2 36i 2 472 S3, 42', 233, 101'a loni, 3R'4 pt'HriiiK, uiai-K tarui, umii lie iinus a lawn or Am Cyan 47 Am Pw 10 garden' that has that tired look." 46 33 58 15 34 74 H'a 90 65 1 34 16 37 30 18 58 14 27 20 '3 31 l'' 4- ion pf 103 103 i4 Richfield 57 56 34 Rob Fulton "203, 19 a. 1 Royal Type 17 la3.
1 A -7 XT" awf -S 11', 73' 4 -8 101 20 60 lfi'4 111' a 17 36 32 2 45'i in 34 'i 3'. 53 '4 ll'n 21U 48 lfi'8 331, 43 I-I4 2fi 31'i 30', 4'a 17', fil'j 33', in IR'i 14'i 35i4 34 1 4 47', B'i 4P8 R7i 22'a Safeway St St Jos Lead 1 St Jos LP 4- '1 r.VKiSs- 'The discouraged owner is probably ripe for a sales pitch that 'Peat Humus' at 50 or 75 cents a bushel is just what he needs. Some time and uncounted bushels later, the lawn-owner Rets a bill for Slflil or $150 for what he unwarily xperted to be a S20 operation. "But that isn't all. It's our experience that the so-called humus is nothing but black muck, 4- 3' St San St Reg Pap 26 St Hog pf ya 13 26 59 20 30 12-, 5 4' 24' 1)8 Sav Arms 11 8 riTHOTO.
Grant Grav Rob pf Gt Ir Ore Gt No Ry pf Greyhound Grnm A'rc Gulf Gulf 04 Hall Print Wclk Haves Ind Haves Mf Hersh Clioc Hcvden Ch Holland Holly Sug Holly Sug pf Homestk Honolu Oil I loud Her Houd Her pf Houst Oil Howe Snd Schemcy Ind Scott Pap 19- 13 93' Am Gas El 35 Am Hide 3 Am Home Pd 56' 4 Am Loco 1434 Am Fdv 26 Am Gas 47 Am 11 Am Optical 3 ''4 Am Pnipsn Am Rad 18', Am Scaing 2h Am Smelt 36 Am Stl Fd 31 Am Stores 47 Am 16' Am Tob 63 Am V'lrwp 36 Am VVks HI' Am Woolen 19 Am Zinc 15 Anae Cop 36 Anch 36 And Pri 48 Andes Cop nsB Armro Stl 43 Armour 9 Assd Drv 23', Assd DG lnf 103 CUTTING IN ON THE LINE The railroad wars of the late 19th Century are 41 MR. LAW ION Scranton El 19' frequently is poor soil, and sometimes it's Seag AL HR 541 1' 4- 1 Sears Hoeb 60 1 3, Servel 8' 4S 16 13 1 1 26 41 74 15' 34 81 13 3 4- 4- 4- 2 1 11 1V 12-4 19 5i 63 8 483, 30 8 27 48 353, 42 43 5 16 52 31 42 5134 4 56 15 12' 17 26 40 71 15 34 'i SO 13 3 8 41 2 943, 42-14 413. CONTAMINATED SOIL peddled in this area, the division says, has its origin in the marshes adjacent industrial sections of New Jersey, land which has been used for dumping of chemical wastes. 4- Snam Stl 31 4- 8:8 'Sheatf 27 4- LShell Oil 493, iSimmons 37 44 1 Soconv Vac 44 4- 1 So Am 6 4- So Car 17 4- Kud Man pf 8 I reflected in this cartoon, which appeared in Puck, an American comic magazine, in 1882. A small group of men fight for control of the expanding roads.
In the background Russell Sage, extending a fishing pole across the sea with "Sealed proposals for the purchase of Europe," apparently expresses I I the cartoonist's idea that these men sought international power. The cctption reads: "Let them have it all, and be done with it!" Today's battle for control I- of the New York Central is fought without the violence of the earlier period. I By modern standards, the fight over control of the New York Central is a bell-ringer, But the forebears of some of the men connected with today's struggle would consider the heat generated by this hassle hardly enough to brew their tea. Here is a look at some of tho spectacular battles in 'the ruthless railway wars of days gone by. 4-4- 4- Hud Bov 46 Assd DG 2pf 100 10O A550P Inv 2 PR 43 44 15 13 163, 26 40 72 15 34 81 133; 3 45 2 95 43 43 120 54 3P; 15 292 31 "4 30 413, 69 39 16 2734 11', 4- VSo pf 52 Sn riac 11 So Gas 1021 IfH'i Such soil not only fails to lielp jcur plants or grass, but It may kill them, according to the Better Business Division spokesman.
in 1 inq34 iin 3H 1043 36 33' Hupo Cp 111 Cent 111 Pw Indust Rav Ing Rand Inland Stl Interehem Interlk Ir Atchison Atl Cst Line Atl Refin Atlas Co 4- 3434 3n 3 333, 122 55i 32 301 2 4', 5'i 4', 4- 1' 15 1.4 So Pac ISo Ry 1 Sparks l'i Sperrv -t-l Square Std Brand Std J' Std Oil Cal This is not to say that it's unsafe to buy top dressing from yCO 'Mfg a reputable firm with which you are familiar. Such dressing. Int Bus Mch 330 int Harv 32 47 however, generally is not sold by the bushel and the price for gaJcoTch 117 53 30 14 271 31 30 39 6834 39 16 27 H34 A'. R5a I Bait Oh 21s, it starts at about Sl.oO a cubic yard. 4- 1 Int Hvd El 30 jlnt Nick 413, i Int Paper 71 4- Int Shoe 40 I Int Tel Tel 16 'Interst Str 28 4- 1 a Interst Pw 12 Std Oil Ind 4 std Oil Std Oil Oh Starrett I Bath Ir Wk jRayuk Ci? 'Beech Aire IBendix Av Best Fds OTHER SPECIES of which to beware, the Better Business 44 54 4 60 J'4 35 343, 12 64', 81 88 42 473, 39 20 25 163, 76 19 77 153; 46 353, 5 59 73 533, 94 -t- 121 4- JK 7 63, 41 38i.
49 B'a 22 10 72 34 65 10 20 23 20 34 77 13 10 60 83 45 39 20 26 4 26 S.S a 1 l'J 1J fl'a 19 65 4J 30 8 27 48 36 4334 443, 5 17 52 31 44 52 4 593, r-, 35 33 12 61 R034 88 413, 47 39 19 25 16 76 19 77 15 46 35 5 58 731', 563, 943, 44 12' 8 143, 16 4fi 7 39 3- 2 25 20 42 13 15 31 153, 20 110 1534 42 18 54 19 15 45 8 11 29 Division warns, are itinerant seed, plant and shrubbery salesmen. One example of these is the door-to-door peddler of grass iiaw Knox 67 64 Jacobs Jewel Tea Johns Man John John Jones Joy Mfg Kan Sn 60 seed "with a dwarfing ingredient never grows more than Bliss if.w) 62" 23' 333 Blocks Ch 4- 2 I's incnes mgn ana you can inrow yuui iawuinuci 20i2 22', 10', 145, 70i2 32', 635s 10 2m, 23 195, 31 77 13 12 10ij 601 4 81 71, 28s, 37i2 23 31', 12 28 12 38' iSterl Drug jStew 1 Stone 4- 23, 4- 2 Sun Oil 4- 3 Sunray Oil 4- Bis Superior Stl 4- Co 4- Sylv El Pd Svm Gould 4- Tenn Cn 4- 1 Texas CI 4- 1 Tex Prod 4- 1', Tex Sul Tex 50 Kan Sou pf 42 Boeing Air Bond Strs jBook of Mon (Borden Borg Warn 4- 4- l'i 4- 1 4- '4 4- 1 4- 2-3, 8 4- 1', 4- 2 4- -4- 4 4- 2 '4 4- 4- 3 4- 1 Kan 19 R3; 40 67 62 23 333, 49 4P4 193, 14 19 80 453, 30 50 43 11 Big seed houses have spent years and thousands trying to develop such a grass. The miracle has not yet come to pass. ihiran Airw 4- a4 4- 4- l'a 4- 4 is the itinerant "fertilizer" is the itinerant "fertilizer" Another racketeer Kayser, Kelsey Hay Kennecoft Kern Ld Kresee. SS Kress, SH Kroger Laclede Gas Lambert Lee Rub Lees Sons Lehitrh C4-NT 30 37', 23 31 28 12 39 4 4- 14 19 81 48 32J, 51 45 11 223, 58 233; 9 32 3 4 1 or, Tr ii 1 Textron 8', Textron nf 143, Thatch Gl 163, Thatch nf 46 Thermoid 7 4- '8 6 3434 32 12 63 79 87 41 47 381, 19 243, 14 73 19 76 15 45 34 4 56 7t 52 91 43 7 143, 16 45 6 3 2 3a 233; 203; 41 12 13 31 1534 1934 110 15 42 1 4 18 54 193, 45 l'3, 28 51 76 46 51 76 46 in ia 15 34'4 65 'a 102 205, 23 20i4 341 a 81 i3-n 104 62 83'i R' 304 38 23 31', 13 27 12', 3Hi 12', 203, 3'.
18 21 24', 1'. 9 23 14' 99 'a 54 28'4 24, 9', 6l'a 15 501 4 19 He offers a load at what seems a phenomenonally low price. ItiBrist My takes days and an analysis before you discover that you've sprinkled your grounds with colored sawdust. jlv Erie Ibu1ov3 1 Burl Mills Burroughs N. E.
HILL Bakery, last month sent letters to all Triple "JJCp Cities doctors asking their "cooperation in restoring confidence in Byers Rvron Jack 11 12 4- l'a lB'a 20 Leh Port 14,1 4- 1 223; 57 23 J- 9 -i- 32 4- 2 14 4- 38 4- 4- 4- Leh Val Coal J. 41 Leh nt By ED MORSE Press Business Writer New York Threads of family, finance and tradition link the present fight for control of the mighty New York Central System with the stormy railway wars of America's past. Two descendants of the profane old warrior who founded the Central, "Commodore" Cornelius Vanderbilt, set on the Central board today. And J. Pierpont Morgan the elder, no stranger to railway feuds, still is represented in Central affairs through P.
Morgan the modern symbol of Morgan's ancient power. Physical violence, wild stock market gyrations and lurid melodrama punctuated the old-time power struggles. Today's fight is more civilized. Yet something of the old spirit remains. Echoes of bombast spent long in the past faintly sounded when Texas-born Robert R.
Young challenged the Central leadership in January and got from Central President White a hot promise of "a barefisted fight." Memory fitfully stirred again only recently as Young accused the Central board of "highhanded taciics reminiscent of Fisk and These are names which once were household words, names with top billing in a kind of Greek tragedy by gaslight 22- 33 48 41 19 13 18 79 43 3034 49 43 1034 21 58 5634 23 Ri, 31 734 2', 133, 37 17 18 50 8 64 39 203; 22 323, 14 20 2' 63 31', 15 8s, 17i 21 8 17 20 Leh 2 pf 8 Leh Val RB 4- 2 4- 1 's T'lerm pf 397 '2 Tlird Av Tran 2 im-i P'ar 3, '4 Thomn Str nf 25 Tide Wat As 21 Timk Bear 42 Toledo Ed 13 'a Tran Air 15 Transamer 313, 1 Transue 1534 Tri Cont 20 ''ri Cort pf 111 Truax Tra 15'i Truax pf 42 bread as a food. The letter said that a segment of the baking industry thinks It is a victim of misinformation that is resulting In harm to the economy of the baking business, and the health of the nation. Lehman Lehn i Lerner Str i LOF Glass I Lib Ligg My Lion Oil Lionel Cp 4- 1 Cal Pack Callahan Zinc Calum Campb Wy Can Dry Can Dry pf 2 l4'' 38 13 19 52 66 40 21 233, 31 15 21 26 69 33 the letter said, "believed that bread uey 18 19 513; .9 65 40 21 23 33 15 2034 26 69 323; 24 l-'i 8 21 14 98 54 25 23 8 60 14 49 17 113 "Our rugged forefathers i unt; iu. otVilatnc oat hroad in hlioo 'Cdn PaC j' Tung Sol nf 58. 34 "a was ine siaii-ui-iiie.
uui eJ on.ivi.-o 1.01, Capital Airl Liquid Lockh Aire Loew's Long Isl Lt Loril'ard I. no A- V-cU ouantities. However, the rank and me particularly me earner cp "Twin C'tv Case Ull 54 lf 15 45 B'a 113, 2934 have come to. believe that white bread ought to be shunned like the plague." Lowenstein Twin pf Twm Coach 1 Udvhte I'nderwd Cater Trac Celanes 'Celan Ccisn cv pf Celotex 114 714 1H, r-4 1 4. s.
I Ash 93 4- '4 4- 1 4- 4- -4- 23, 2 4- 2 3 4- 1 4- 2 I Bar 54 4- 1, t'n Carbide 80; 8- Cen Ga Hv 27 Cen Ga Ry pf 59 Cen Hud 1 Oil Cal 49 49 Un Pac 122 l7i 119 213, 4- 24 1 9 21 14 99 54 26 24 9 60 15 50 19 114 7n 19 26 59 13', 25 25 17 35 90 27 17 23 ll5i 12 61 81 71'i 8 2 60 36 101 16 79 593 48 27 3-1 4- 22' 59" 57 1 nit Lin Unit Aire Un Cig Wh United Cp 1 i 2h 28 17 35 91 27 18 Market at New Peak After Profit-Taking 61 6 33 55 Cen SW de Pas Cert-teed Chcs Oh Ches pf, Chicago Cp Chi 111 Chi Gt 1 Fruit 5149 33, 53, 50 31 34 123, 24 23 i ip 31 30 Gas Im 34 34 Unit 123; ni, iUS Freight 243 24 Ch 11 Mack Trucks Macv Ma cm a Cop Maenavox M.inh Shirt Marac Oil Marathon Marine Mid Marsh Field Martin. GL Mart Par Math Chem May Str McCrorv Str McKess Mead Cp Melv Shoe Mensret Merck Mergen Lino Miami Cop Middle Ut Mm Hon Mm Hoi Mm 1 pf Mm 2 nf Min kt. Chi NW 12 iUS Gypsum 154 135 154 US Lines 15 15 15 473; I Pipe 48 46 58 US Rub 3331 323; 4- 4- 4-16 4 4- 1 4- 4- 4- 1 33 Rub pf 150 1473; 14734 By RADER WINGET PTf Associated Press Financial Writer Yc1bPac 'sj" New York Profit-taking poised a brief threat to the stock market last week, but it recovered strongly jew Finan and moved on to new heights. 'City str 16 4- 1 4- 4- 3'i 4- 6 v' lR 4- 'i 4- 1 4- 1 4- 4- 1 4- 2 4- 2 4- l5a 2 -4 cr, smeit 47 45 46 US Steel 47 46 473, US Steel pf 15434 153 1543, US Tob 17'4 17 Unit Str pf 87 84 86 An i.nc mol ii-itVi an orniallv City Str of 67 18 25 57 13 25 24 18 35 90 25 17 22 10 11 57 80 69 8 2 S9 35 9 16 79 59 47 i', 25 33 i 1161 41 89 13 15 53 49 52 52 14 50 29 15 39 18 43 62 43 56 21 93 67 1 nit str 2 pf 81 59 43 -J4 tm Wnilpap 1 ,4 Univ Cyc 2834 Mm SP-SPM 10 10 une ramer jiunuuni.cu wao ciev ei hi strong recovery later, and the; climax Mo performance of the market as a.devoi(j of anv snap cufeu pea whole was a demonstration of, Thp next av thpre waj a rf)U. coca Cola Dasic sueugi 1 line reaction that cut price Col? Pa of tv, ictfiKu oil Prpsc averase 1.
I3, 28 24 163 19 11 I i- niv Lf Tb 25 Univ pf 165 1inM-M pf Mmn Pkt, z- 3 119' 44 SI' a 14 1-3, 4- 4- 13, 4- 1 4- -4- 1 2 Univ Pict 2034 1 28 25 165 203; 11 373, 243, 28 263, 2 Mission Dv 4 M'ss Riv of Ko stocks gained 40 cents, the down considerably. Volume was Ir 18'. Van Norm Chem Va Caro Ch Virg Ry 3" Virg Ry pf Drew to keep his directorship. Soon Drew persuaded Vanderbilt to let him install two young men, Fisk and Gould, as additional dummy directors. Drew, Fisk and Gould were good boys for awhile, then yanked the rug out from under Vanderbilt.
They knew the commodore was still buying Erie stock to solidify his position. So the unholy three secretly flooded the market with newly printed stock, converted under a trick clause from Erie bonds. KEPT BUYING Vanderbilt kept on buying as the printing press turned out new Erie stock. Then he caught on, swore a mighty oath and got an injunction against the traitors and their conversions. By chicanery, however, the trio threw even more crisp, new stock on the market.
This time Vanderbilt got warrants for their arrest on contempt charges. With $6,000,000, they fled out of the court's jurisdiction to Jersey City. A rear guard of Erie thugs slugged it out with brass knuckles against a hotly pursuing gang of Vanderbilt deputies. The fugitives fortified themselves in a Jersey City hotel and mounted three small cannon on the nearby waterfront. They established an Erie "navy" of four lifeboats, each holding a dozen armed men.
Fat and rakish Jim Fish became its "admiral." Champagne flowed at the hotel. Fisk, the "Prince of Erie," installed his mistress, Josie Mansfield, at the place. The pale and sickly Gould worked to reorganize Erie as a New Jersey corporation. Meanwhile, Erie and Central conducted a rate war. BRIBES FLOW Gould went to Albany with a satchel of cash to bribe New York State Legislators to eanct a law making it legal to convert bonds into stock.
The Vanderbilt forces got wind of this and tried to bribe the lawmakers the other way. There were fat pickings for Tammany Hall's Tweed ring as they grabbed money from both sides. But Gould had got there "fustest with the most-est" and the law was passed. Criminal charges were still pending against the Erie crowd in New York, however. It was pretty much of a standoff.
Vanderbilt messaged Drew saying, "Drew, I'm sick of the whole damned business. Come and see me." The Erie trio met the commodore at his New York mansion. There he told them the fight "has L-arned me it never pays to kick a skunk." Vanderbilt's power was still a highly menacing thing to the Erie group. They agreed to repay him some $4,500,000 he said was stolen from him through the printing press. Even so, Vanderbilt lost more than $1,000,000.
So ended the "Erie War." But that was only the first of many wars. MORGAN WINS SPURS A year laier, in 18ti9. the youthful J. Pierpont Morgan won his spurs in a railroad fight in mid-New York State when Fisk and Gould tried to take over the Albany Susquehanna, a link between Albany and the coal recions. During this fracas hundreds of armed men fought.
Fisk was thrown bodily down the stairs of the railroad office by Morgan's men. The locomotives of two opposing forces crashing in flaming, headnn rollision. Track was torn up. Stock-buyins. legal maneuvering and bribery played their roles.
At the end. Morgan emerged triumphant, richer by S.ViO.OOO and a reputation. Fisk later was shot to by Edward S. Stokes, a playboy who had supplanted Fisk in the affections of Jnsie Mansfield. It was one of New Y'ork's gaudiest scandals.
It. tonk a martial stockholders' enmmittep headed by Gen. Daniel E. Sickles of Gettysburg fame to remove Gould from the Erie after Fisk's death. But the road had been milked so badly it didn't pay dividends on common stock for another 69 years.
Gould took millions with him. NEW RAIL In California, new rail titans were rising Charles Crocker, Leland Stanford, Mark Hopkins and Collis P. Huntington. They had been inspired by the vision of a transcontinental railroad. The golden spike was driven at Promontory Toint.
Utah, on May 10, 1869. after five years of an epic track-laying race joining the eastbound tracks of the Central Pacific and the westbound tracks of the Union Pacific. The heroic saga of the first transcontinental road was accompanied by terrific looting of public funds immortalized by the vast scandal of Credit Mobilier, tho holding company for Union Pacific. Litigation between two opposing groups within Credit Mobilier brought to light the fact stock had been distributed generously among congress- men, both Democrats and Republicans. Reputations were muddied by the score.
It was one of the greatest explosions in congressional history. SOUTHWEST WARS Soon afterwards followed the rai'road wars of the Southwest. The Big Four of California Crocker, Stanford. Hopkins and Huntington battled off attempts of railroads from the Midwest to build through to the Pacific shore. They seized the strategic mountain passes.
They bought up-what was originally a "paper" railroad, which later became an empire; the Southern Pacific. They strung this railroad eastward, defying U. S. troops sent to stop them at the Colorado River, and eventually reached New Orleans. Meanwhile, an epoch passed as old Vanderbilt died in 1877 among hymn-singing relatives.
He left an estate of Later in the year the railroad workers asked for a nay boost which was refused. This led to a different kind of railroad war, the great rail strike of 1877. The nation had seen no such violence since the Civil War. Hundreds of cars and locomotives were burned. Soldiers and mobs fought pitched battles.
Many were slain. The strike was lost. The famous "public be damned" statement was made by William H. Vanderbilt. son and heir of the commodore, in 1882.
A reporter asked him why he wouldn't continue a fast New Y'ork-Chicaeo mail train, if only because the public found it useful. "The public be damned." laid Vanderbilt. "I am working for my stockholders." CAPITALISM BY-WORD This statement endured as the by-word of bloated and greedy capitalism. Actually its author was a much milder and more civic-minded magnate than his cussing forebear and the crncrpl run of Century tycoons. Durins the younger Vanderbilt's regime, the Central and Pennsylvania ensaned in a war as each sponsored nuisance roads to undercut the other.
The great Morran. who had become the virtual czar of U. S. railroading, dictated a peace pact and reportedly grabbed as his fee between $1,000,000 and $3,000,000. Edward H.
Harriman, a brilliant stockholder who looked like a bookkeeper, took over the Illinois Central in 1887. Following the collapse of Union Pacific in the depression of 18f'3-'pfi. Harriman took over road, the Southern Pacific and others. Harnman's war with James Jerome Hill was the last great ssa of personal railroading. RUGGED PIONEER Jim Hill was a rurged pin-neer and empire builder wh (Continued to Page 13 A) 12 37 4 25 28 263, 13 third straight weekly advance, well below the daily average so" CnlnA-So 2 23 27', 253, 13 Df 50' the Col Brd A 56 and closed at $124.
That consti- far this j.earj an(j before Vulcan 13 13 12 23 22 56 17 '7 25 25 8 8 22 21 13 13 28', 27 22 21 17 1634 47 293, 2S5g 13 12 39 39 33 323J 28 328 133j 12 2034 193; 33 32 27 26 28 273, 92 89 10 0 77 76 19 1934 27'4 21 9 70 K7 101 inV-2 23 33 31 17 16 433, 4,, 8 8 68 66 50.3; 97 90 22 21 65 6034 37 3.334 243, 22 43 42 20 9 40 38 17934 178 15 143, 84 79 16 16 12 11 743, 73 183, 293, 23 45 43 31 303 52 50 28 23 32 30 11 103, 12 12 14 35 31 97 9534 14'i 14 20 19 22 21 37 36 109 109 64 373, r6 28 28 21 21 40 40 1 4- 2 tutes a new nign mar ior uie .1 a 'LOi ro 58' 14 7, tiuie nidiiy piii-ca iciyvcicu Col Gas year and the highest level since April 17, 1930, when the average 4- 1 4- 2 4- 2 4- 2 Ti l' 4- 4- i 4- S8 1 61 61 61 from their lows. Mo Kan Tex Mo of Mo Pac nf Monsan Ch Mont Ut Mont Ward Motorola Mullms Mf Murphy Murray Cp Nat F.ise 4 iComb En? 51 r'nmi rrcA 42 13 2" 37- 17 25 8 21 13 28 2P4 17 45 283 13 39 32 28 13 20 33 26 273, 90 10 7634 19 26 9 60 104 23 32 43 8 67 48 933, 22 61 36 23', 42 203; 40 178 It-'; 79 16', 73 18 203; 3034 523, 28 32 11 12 143, 34 9.1-34 14 19 21 36 109 64 373, 233; 21 4014 28 23 59 9 22 12 RR pf Waldorf Z. a- Walgreen Walker 1 in 43 89 14 16 53 50 .56 56 14 50 40 16 40 18 43 63 43 58 22 94 68 8 69 22 Just to show that a big excess (Comi Sow 16 stood at $124.30 Th- avprase has been around of buying strength existed, hd 4. Warn 1 Warren 4- 1 Pet 4- IV 12 25 60 15 35 19 15 40 473, 24 37 West Ind 1: K.y coal 4- 1 "jNat Bis pf 1 Nat Can Cash Citv Penn El the highest levels of the last 24 market on Wednesday rallied 44 voarc fnr several weeks and it i with such vim that it retraced all con Gas fii'i 11 reSt0ablisehedala Tucfe'ssfon ofjof the average loss of the Previ- pw 43 new high marks. Last Monday ous day.
And volume built up to; Cont Bak 223, the market was at a new peak 12.210.000 shares. Cont Bak pf only 30 cents under the Friday rush THURSDAY jcon't Mot 8 t0P- Bulls were happy. At the start! M4JOR REACTION EXPECTED of trading on Thursday, buyers copw si 23 There has been no major re- thronged into the market with Corn Exch 62 Cont Nat Dairv Nat sti'l Nat Gvps Nat I er-d Shrc 1 1 2 113; 24 60 15 33 18 14 39 453, 23 36 245; 673, 30 29 40 3834 82 46 253; 41 123, 66 6 04 68' 20 20 62 24 603, 15 35 19 15 393; 4S 24 36 253, 63 31 8 30 41 39 83 46 25 42'4 12 67 7 4- 1U 4- 2 4- 4- 1 4- l' 4- 1 4- i2 4- 1U 4- 4- act on in the market lor eignt ic w- 4. i4! West Auto 4 West Marv 1, West Un Tel 4. Westg A Brk 4.
3, Westg El 4- White Mot i2 i Co 4-1 Wise El Pw 4. 34 Wool worth 4. W'ortbington Wriglev YaIe Tow York Com 4- Yngst Dr 4- i Zenith Rad Zonite Pd I Weekly V. 3 253, 71 31 B3, 30 41 39 83 47 26 42', 1234 68 7'4 rrronths Most WaU Street ob- lell behind a couple ot minutes, coty inc servers expect one. They don't in reporting actual floor transac- know when.
Actually, many tech-jtions. i Crown Zeii doi-tam tbov arp nnahlpi That ennn rleared anrl Tirirps Cruc Stl 73' 4 101 3 33 13 46 23 12 5 6 23 62 73 1031 3 33 14 46 24 12 5 7', 9 52 Nat Steel Nat Sua Ref 1 Nat Snr.nl Nat Vol Fib 2 Nehi Cp 1 Neisner 1 8 Newberry Newber pf New Eng El NY Air Brk Central NY Ch SL 33 14 46 24 12 5 4- to see any signs of a near-term held. The higher levels couldn't cudahV Pk with overtones of burlesque and a chorus from Tammany Hall which is known to history as the "Erie War." FIRST GREAT WAR It was America's first great railroad war, fought between 1866 and 1868. James Fisk, Daniel Drew and Jay Gould, "the Mephistopheles of Wall Street." were arrayed against Vanderbilt. Vanderbilt had earned the title "Commodore" a newspaperman's 0 1 i through 40 years in the shipping business.
When private shipping was made hazardous by the Civil War, Vanderbilt co*cked his canny eye toward railroads. In 1862 he fought his first rail skirmish. He rammed down the stock of the New York Harlem Railroad until it touched bottom, then bought control. Next he acquired control of the Hudson River Railroad, a line paralleling the Harlem on the east side of the Hudson River, running to Albany. Then in 1868 he captured the old New York Central Railroad which plied between Albany and Buffalo, laying the foundation for the present vast Central system.
Vanderbilt acquired the old Central by breaking connections between it and his own lines, an action which marooned Central passengers and freight at Albany. When Central stock went down far enough, Vanderbilt bought it and took control. Out of his victory the commodore snatched a quick S6 and S20.000.000 more in Central stock. QUESTIONS ASKED The Legislature asked some questions but Vanderbilt had an answer. "What do I care about the law?" be said.
"Hain't I got the power?" Meanwhile Drew, a onetime cattle dealer who inspired the term "watered stock" by salting big cattle herds and then letting them drink their fill before selling them liveweight. had made enough money as a loan shark to buy control of the Erie. This was a 500-mile line between New York and Buffalo hailed as "the wonder of the ase." VannVrbut saw the Erie as a possible threat to his rail chain to out Drew, who practically groveled before the victor and implored Vanderbilt to save him from min. hard-swearinz commodore was merciful. That was his biggest mistake.
He allowed 9 Y. Stock Sales This Week 10,097.685. I NY Dock 52 51 -D 4531 43 4. nJ -VY Sta 37 64 reaction of a corrective nature. be maintained, however, ana ine.curtis Pub Last week didn't produce any-j market slipped to a lower close.
jCurtissWr thing disturbing either at home! Nevertheless, there were 19 more 1 -uUer or abroad. Corporate news on, gainers than losers in the ch balance was favorable. that day. i Davstrom The Bank of England lowered: Fridav, a day when one might1 Decca Ree its discount rate (called the bank normal weekend profit- gefl- Hud Week Ago 9,935.590. 4- 3,1 Year Ago 5.631.395, Via Pw 4- T-iva Years Ago 4 862,815, Jan.
1 to Date 174,694.509 1933 to Date 154.228.950. 1952 to Date Ki6.352.602. 28' ratp in Jintrini 10 per ceni taking, lound puces advancing Del 1 1 17 9 29 42 14 2'" 31 19 2f' 35 emphasis steadily with buying 233, 5 IJ34 23 SO', 14 9 23 42 swinging from one group to an- De viibVss other Dry Rr; In the end, the AlJ aver- rvnoco Ch Vorf West No A pi A No Am Co Vor Pac Sta Pw Norwii'h Pri Chio Fdis Fd nf Oh Fd pf Oh Fd pf Oh Ed nf Ohio Oil llivcr Cp Otis Elev Owens III Gl from per c-nt. That, of course, means easy money in the sterling bloc, a situation that has existed in this country for some time. Stocks rushed ahead- immediately in London where the move Diam Alk 42 stood at a new high age again Oiam Alk pf 107 106 H'fiij T0i 4.
10 Diam Mat ir. W4 107 mark. Bears were glum. 107' 953 68' 11' 10S3, 95 663; 10'. 16 9 28 42 13 28 18 28 3J 106 3 2" 15 118 36 21 125 120 19 22 17 13 56 45 23 11 24 45 17 9 28 42 13 29 31 19 23 34 106 26 11 30 15 39 25 126 121 11 23 18 13 573, 45 2 24 12 25 29'.
3' 4- 2s 53 523, R5 83 107 953, 68 10 52 8434 41 42 came as a surprise although it had been anticipated to some px- 1 JlOIlC OFKCrS tent. And in New York that there was such a scramble to -stocks that price reporting fa- (jCt LaSJl AwarClS cilities were swamped briefly. Par Cst 2 pf 45 11 30 16 12t 39 26 127 12! 19 23 1-) 13 57 46 2'i 24 Pac ClX lri 42'; 41 4P, 313, 33, 11 The strength In stocks here was branded purely psychological or coincidental. Pac Oil 1 Parkard a Pan AW Air Panh Oil l2 Param Pict Parke Da a Park Rosf 4 Patinri Mm '4 Penrey. JC 33 3 11 20 32 37 Ri New York tT) Four cash awards of $500 each were made last week to telephone employes for courageous action that resulted in the saving of human Dia Mot Dis Sea? Dome Mm Doug Aire Dow Chem Dress Ind riu Pont du Pont pf Facie Fast Air East CD Fast S1 East Kid Eaton Mfe El Mus in El Stor Bi Watch Elliott Fmer Rai End John Fnd John pf Fault Gas Fr FR Fne RR of FversHarn Fx-Ce'l-O Fxcn Fan Mor Faircii 3IelM)r Camera Film Developed i Rochester (U.R) A unique molded photographic film, shaped like a bowl, has been developed by Eastman Kodak 'scientists for use in a highly ef-' ficient new meteor camera at the Harvard College Observa-; torj'.
Harvard astronomers are working on a Navy project to learn more about the earth's upper atmosphere. By watching and photographing performance of meteors, the scientists hope to gain information for use in high-aitnude rocket experiments. Specially shaped film was needed to record accurately the; tracks of meteors as they race through the sky, and, after years of experiment, Kodak scientists came forward with the molded film, i CASH DIVIDENDS UP A more fundamental piece of news was the fact that American 3o 32 O-! 3 80 403, 16'. I i Pa Pw Lt 33 3 11 J3 SI 33 3 82 16 16 31 40 '2 31 65 40 a RR "ens. Cola P'er P'-e'ps TJ Ph' EI corporations issuing public re- "lc pons paid 3 per cent more cash They are Joseph J.
Hogan of Dividends in March than a vear Wilmington. Kichard R. ago. Incidentally, the Associated Batps of Medford. and Fress average of 60 stocks on Michael J.
Mullen and Edward March 31 this year stood 4 8 per Johnson of Lns Angeles, cent over the same date in the The awards, called Theodore previous year. N. Vail medals, were established 40 16 16 34', 3, 34 64 40 164 5. 6 29 97 2' 17 67 1J 70 1 23 15 11 1 2" 241, 73 1 4- Phiirr. P'n'tp Vnr Phiil Pet Ptllsbv Mil's 3 165' 54' 24 17 6P 1 67 1 22 12 1J, 15 22 14" 11 74 17 67 14 6o 1 23 12 14 15 23 15 74 pf Fa'ardo Pit Ft Plate 1 1 1 l- 2 2 164 17 Pit Srr Pit S-eel On Monday the stock market in 1920 by American Telephone FaUtaff Br deed ahead slightly to send the Teleraph Co.
as a memorUl AP average tip to a r.ew high to Vail, former president of the r'-'co9 mark. The market's action was company. Fiestone 6 W. 63 Stl rf A 4: 1 17 70 -1- SU pr pt 7i).
