Salt Lake Telegram | 1903-04-22 | Page 4 | Morgan Loses Prestige in Wall Street

SMBSSMSWSJSBaBSSSBSSBSlSS"SSSMSSSSBSSSSBSSSSSBSSSSSBSSSWSSSWSSSBSSMMSSSSBSl 1' Hernia Lc:b rrc:il3 b VVcH Street.. One effect of the Northern Securities decision is that its leading advocate has suffered a pronounced 'lecs cf prestige ia the financial world as a direct result re-sult cf the adverse opinion of the United States Court of Appeals. That -fact has been emphasized every day since the decision- Men potent in Wall street, who had recognized and relied upon the ability abil-ity and &r.gacity of the man, have turned from him. In their opinions, Morgan's wonderful and increasing increas-ing successes led tim beyond the depth of wisdom. Vanity, sustained by the former results of his audacity, au-dacity, turned his head. lie came to believe, think h:i former friend that the power of Morgan was far beyond the reach of restraining influences. Men who hid tcca Lis steadfast followers hare lost faith. As a result, courage has been given to influential interests in opposition to Morgan and his methods. Lie i3 held it -possible for the present condition of the maiket, overloaded with "undigested" securities, many cf which bear the Morgan brand. Directly an! iaiircctly, Le is blamed for encouraging overcapitalized over-capitalized concerns. Bnt even In the face of this cruilieg defeat Mr. Morgan is determined to. upheld, up-held, tie Lrergcr deal, if possible. Able men, who ar? Li3 r vreciatcs. Lave urged upon him and J. J. n:il II i V.x ard danger cf appealing the Northern T::u:i:: i cr.::? ta the Caprcme court Their coun-vl coun-vl Lai L. .a declined. Ia quarters unaffected by th? ! a W.2 r Ivc:. ? rt.ult cf the case is re-'1 re-'1 '- - I'- ia C ja i:e. TI.3 Nerth-cr.: Nerth-cr.: r . i c "j ..;.5 Ira-cLcJ ia. d C-r cf tl ? I--.' e: I Mr. M::.-.:n attcr.:; ic I to tl t ti I ce-Id 1 i c. '..!. Dut tl- C -l r- . ': J- I tl-t t! - I :-." i:- t 1 .? C ; ; I . t '.' . : : - i: ; r .: ::ec V. it;., i j t , , -