New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-05
ANOTHER BUBBLE BURST

Hitherto there has been general disposition
to assign to MIR. Keely, of Philadelphia the
first place in the ranks of those who have ac-
quired distinction by the pretence OF making
something out of nothing but hereafter, Tor
MANY wears to come, we are inclined to think
that no one will dispute the superior claim OF
the agile and ingenious individuals who have
taken the Electric Sugar Refining Company
into camp The Keely stockholders have this
advantage, that they have something to show
for their investments, namely, Mr.. keely him.
self but the inventor who has swindled New
York, London and Liverpool was inconsderato
enough to die last March, and his widow and
the immortal few who shared her confidence
have suddenly become invisible.
Now that the bubble has burst the world
first becomes aware to what proportions it had
been blown, and how lovely its hues were in
the ewes of the unfortunate persons who had
paid their money to behold them. Even now
it is impossible to say just how much this
latest exhibition of human creduity has cost
it's victims million dollars is mentioned as
fair estimate Of the winnings and loslngs,
and it is scarcely possible that any considerable
part of this sum can be recovered. Once more
the element of mystery has done its perfect
work. Savings which could not have been al
hlred by the most solid and reasonable asSur-
ance of fair return have been eagerly en-
pended on a phantom. The collapse has come,
and the losers will curse fate, American trick
cry. the effrontery of go-betweens, and every
thing except their own criminal folly
Unless the first reports of the circumstances
under which promises were made and hopes
r,1c fo thn fran
action, some of the anathemas may properly
be directed against the reputable men who have
appeared upon the scene as experts. We have
no desire to Judge any one harshly, but we
should be glad to know whether the emotion
which they now feel is principally mortlfca-
ton or conviction of sin. From first to last
there appears never to have been one single
test made on which any sane being ought to
have placed reliance. Bags were carried to
one end of shute and sugar of beautiful purity
issued from the other. There was a sound OF
invisible machinery in motion, there were mys-
terious assurances which did not pretend to
elucidate and the stock rushed up to five times
its par value. Then it halted, wavcred, Tell
to one-third, and in a moment has been wiped
out forever. Several of the conspiratofs who
are already disgraced and ought to be jailed
as soon as possible can be Immediately identi-
fed. There are others who have hitherto kept
so far in the background that they will prob
ably succeed in staying there for time longer,
and there are some whose real relation to this
gigantic swindle may never be revealed. The
lesson would be worth what it has cost if the
community would only consent to learn and
apply it, but there is small hope of this For
a year or two creduous men and women will
see fewer visions and dream fewer dreams, but
before long the old process of striving to get
something for nothing will begin again and a
new crop of fools will initiate a new bubble.