Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-23

do not share his opinions. Stephen 81.
Walker, United States District Attorney
for this district, has quite contrary i'm
preston.
"In my opinion" said Mr.. Walker, ''the
English investments are made solely with
business-like view to profit A very i'm
portant consideration in this connection is
the effect that these relations between the
mercantile classes of the two countries will
have upon their political attitude toward
each other. In spite OF all the belligerent
talk at times, 1 am convinced that the re-
lations OF the two countries will always con-
tinue to be friendly. This is commercial
age, and no country will take step that
will work incalculable injury to its mer-
chants without serious reflection.
"In fact, it would require most outrage
Gus conduct on the part of our Government
before, in my opinion, England would ap-
peal to arms. You may lay it down as
pretty sure thing that your grandchildrens'
grandchildren will be dead before England
and the United States will indulge in war.
The English investments may be termed
hostages of peace.
"What is the spirit of our national laws
upon the subject of aliens holding property
in our country ?" was asked.
ONE FEATURE.
'The spirit of our laws" replied Mr..
Walker sis against the holding of property
by aliens. So it is, too, against the hold
ing of such property by corporations. Both
are contrary to the spirit of democracy. But
there is no statute in our national laws
which prevents either. There is statute
in this State and some others which forbids
the holding of real estate by foreigners, but
only the State can intervene. The State
10 inf
does except in one emergency. If foreign
holder of our real estate dies lntestate then
the real estate is forfeited to the State, and
his heirs cannot prove title. No action
could be taken under the United States
statutes to con6scate rear estate held by an
alien, nor would there be any relief if the
English investors should gain control of
any of our industries. There is no law, as a
matter of fact, which affects the holding of
personal property. Ny own opinion is that
America will always be glad to secure
English capital, and that there is no such
danger as you suggest"
Samuel Untermeyer has been one of the
most important agents in bringing about in
vestments of English capital in the United
States. He has been the American agent
in the sale of the leading breweries of which
there has been so much ia TX, and he has had
his finger in many other pies. He is very
shrewd lawyer and born promoter of
schemes.
81 have secured, 4" said Mr.. Untermeyer,
fithe investment of something like S11 ,0G0,-
600 of English money in America in the
past years. Part of this went into breweries
and part into tin mines in Dakota. The
Harvey tin mine, which is located in the
Black Hills of Dakota, is worked entirely
BY English capital in competition with tin
6 ,e h,- IL ieh
men and run by Englishmen. Of the brew
cries into which
ENGLISH CAPITAL
has been put, / can name the New York
Brewery Company, the Frank Jones Brew
ing Company, the Bartholomay Brewing
Company, which comprises all the Roches-
ter breweries, the Chicago Brewing Com
pany, which consists of McEvoy's and
Wacker's breweries, and the United States
Brewing Company. The Bartholomay and
Chicago companies are organized under the
English law, are under English control,
and their stock is altogether in English
hands. The others are partly English and
partly American. The stock of most of
these companies is mixture partly of En-
glish and partly OF American corporations.
The English investments were secured by
getting options on the breweries and offer
ing them for sale to English capitalists.
"The Englishman is not coming over here
with bag of money looking for some spot
to dump it into. That isn't the sort of bus
iness man he is. He doesn't buy any grab
bags, at least those have met don't. The
English capitalist is always ready to invest
in an enterprise which has an established
reputation that is in itself guarantee of
security. A big drygoods house which has
Lord & Taylor, in New York; Jordon,
Marsh, in Boston; Wanamaker's, in Phila-
delphia, and similar houses in the West,
would find no difficulty in securing all the
English capital it wanted. That is because
these stores are known and people flock to
them naturally. Enterprises with large
quantity of risk in them are not likely, how
ever, to find favor across the pond.
JOHN HOE.