Mr. Baker Returns

Much of Wall Street's history during 1924 is bound up with Mr. G. F. Baker's vain attempt to take a vacation. Mr. Baker is too important a factor in financial affairs to remain long away from the dingy brick building at the corner of Wall Street and Broadway which houses the First National Bank. Mr. Baker is now en route from Europe--another at- tempted vacation ruined. Again, the cause for his return is the great Van Sweringen railroad mergers. The "Lords of Erie" have in their day been greatly varying types of men. No greater contrast can be imagined than that between Jim Fiske and G. F. Baker, who now seemingly controls Erie and has for some time been steering the road into more peaceful and prosperous years. Last week the "Van Sweringen se- curities" were active on the Stock Exchange. Rumors abounded. Ap- parently the time is almost here when the astonishing realtors from Cleveland will put together the "Nickel Plate System" as one of this country's greatest railroad mergers. The system will include Nickel Plate, Erie, Clover Leaf, Pere Marquette and Chesapeake & Ohio, and the coming consolidation will necessitate a complex exchange of securities, details of which are probably not alto- gether settled in even the Van Sweringens' minds. Probably the most definite notion of the Greater Nickel Plate System that is to be, at present exists out in the Atlantic Ocean, under the square-topped derby hat of an elderly banker. A great many "financial leaders" had a hand in wrecking Erie. It has taken George F. Baker to restore it to prosperity.