Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1889-08-17

investor, and prospects or ~ per cent
sets him crazy. While their interest
rates are low, their notions Of proper
capitalization are very large. A certain
American invention which has been but
fairly successful In America is being
worked oil ON the Londoners for a, ,000,.
GOO. The salt trust has O capital etock
Of $11 ,0oo, 900. A capitalization Of q GER
tain manufacturing company II being
marketed In London, the total being the
enormous sum Of $4,000 Another
company, small but prosperous manu-
featuring concern, modestly asks for but
S500.000. Two far western breweries
have dubbed together and struck Lon
don for g., ,O0o,O
"These are but instances, Of which I
could mention many more; and there Is
an alluring scheme on foot for the CAPT.
talization Of a land company, the site Of
whose town has not yet either railroad,
u telegraph office or postofiice."
Tho English public will invest in any.
thing providing tlsc promoters put their
capital high enough and do not promise
too much. Englishmen are suspicious
Of any scheme that talks Of 10 or IS per
cent. profits, and are disinclined to In.
vest unless the capital runs up to pretty
round figure. Many meritorious enter.
prises have failed to attract capital sim
ply because they did not put q big enough
price on themselves. Tho old saying,
"Strike high II you lose your hatchet,"
applies In this case. These English In.
vestors do not seem to profit much by
experience, either. They will even go
into mining companies. Notwithstand.
Ing the fact that out OF hundreds Of min.
ing companies listed in London only
forty have paid dividends, 100 new COM
panies, with a nominal capital Of S1O,-
100000, were capitalized in England last
year.
Among the new mining ventures now
being successfully marketed in London Is
one which has some novel features. II
Is called tho "Wyldsdale Gold Explora-
ton and Developing company. limited"
1t is incorporated "for the purpose of ac-
quiring the concession granted by Um-
bandine, king and paramount chief of
Swaziland, South Africa, upon the
slopes and spurs of Makonjwa mountains
and ancient valleys, on which have been
found both rich alluvial deposits Of gold
and numerous gold bearing reefs" Tho
tract Of ground granted by King Um.
bandine is thirty-seven square miles, for
which the lessee is to pay but 500 year.
Nobody knows whether there IL any
valuable ore In this land, but the fellow
who secured the grant will undoubtedly
be able to sell out to the company for
round half million, for tho gulliblo En-
glish public has promptly walked up aud
planked down more than million dol
lars to equip the company that Is to OK.
plore and develop the alleged gold coun.
try.
ITO transact the business Of these spec.
ulative enterprises innumerable trust and
banking companies are springing UP in
England" says Mr.. Whelpley. "These
are speculations in themselves, In which
tho organizers are sure to make money
by taking advantage Of the craze. An
example Of this was recently had in this
city. A friend of mine organized new
trust company, subscribed for the stock
himself, and on the boom disposed Of the
most Of 1t at premium which has al.
ready netted him 5000 profit. The
mania for speculation by means Of incor.
porated companies and consultations OF
enterprises has largely taken tho place
Of stock and grain gambling. In my
opinion It is by far the most dangerou,
evil Of the three"