Daily Times

I read this news article from THE DAILY TIMES newspaper on August 23rd 1911 and wonder how little we have changed in a century.

New York. Aug. 23 – According to Judge Robert S. Lovett, head of the Harriman lines, the principal obstacle in the way to a big business revival all over the country is the attitude of some of the big speculators in Wall street who at present are busy circulating all sorts of disagreeable rumors for the purpose of depressing stocks to serve their own selfish ends.

Dispatches from San Francisco announced that 6,000 men in all would be dropped from the payrolls of the Harriman roads within a few weeks and it was for the purpose of getting information on the that a reporter sought Judge Lovett.

“What is the matter with the railroad situation?” he asked. “There is nothing the matter,” was the prompt reply. “Well, what is the matter with existing conditions?”; “Well, if there is anything the matter with existing conditions it is due entirely to the lie factor of Wall street.” Judge Lovett would say nothing about the laying off of employees.

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