The times. (Owosso, Mich.) 1882-1897, 1890-01-17
BRITISH WEALTH.
About 100000, 900 Invested
in this Country.
TALK WITH AN INVESTORS AGENT.

First Venture Purchase of Breweries-
Advantages of the London Stock Ex-
change system-Millions Coming Over
This Year-Engiand's Investments in
Other Countries-Ehcct on the United
States of the Great Increase of Cash
A Mortgage Buying Company.
New York, Jan. 6.-Nobody need have
any fear that England is buying up all
America or is putting big mortgage on the
country. Genuine investments of foreign
capital which are intrinsically enormous
have been made in this country duSing the
past eighteen months, but in comparison
with tho business of the nation the total
amount represented Is almost insignificant.
The sum of English capital placed in the
United States within that period may reach
500, 100000, which represents maximum
earning power of SIC, 900, 900 annunlly-a big
sum, hut small compared with the income of
even q single big town in this country. The
first big venture of English capital among
American Industries was in the summer of
1888, when the New York Brewery company
was formed for the purchase of several
breweries in New York and New Jersey.
Gobbled and More Wanted.
The project was spread before the London
public and there was an astonishing rush for
securities The public subscriptions
amounted to $35, 100000, nearly eight times
the amount offered, and the shares were dis
tributed pro rata among the subscribers.
From this point the business grew with
amazing rapidity. The Messrs Untermeyer
have acted as American agents for the plac-
ing of more than 49,, 000, 900 of English CAPT.
tai in this country, and they now have deals
on hand approaching contamination
amounting to many millions more. The in
vestments of English capital in the imme-
date vicinity of New York within the past
eighteen months amounts to $1S, 900, 900, and
are all in breweries.
The Money of Small Investors.
Samuel Untermeyer, in explaining the
workings of the great system which has
sprung up in London for the purpose of Sc
curing American investments, said that the
money had come from small investors and
not from capitalists.
Mr.. Untermeyer thinks that public opinion
in this country is nearly ripe for the floating
of industrial enterprises upon the same plan
which has proved popular in England. The
chief difficulty is the absence of all safe
guards in the line of financial institutions
especially designed for such purposes The
strict rules of the London stock exchange are
an especial advantage in this direction. All
of the American enterprises sold to English
investors, which Mr. Untermeyer represents,
are listed upon the London stock exchange,
the rules of which require not only COM
plete statement of resources, but a full dis
closure of every contract and asset of a cor
poration seeking admittance. No such or
ganization as the trusts now dealt in on the
New York stock exchange would be admitted
to the London board
Prospects for the Present Year.
Regarding the prospects of a further influx
of English capital, Mr.. Untermeyer says:
within the past four weeks there has been
renewed activity in the investment in Amer
lean industrial enterprises and there is every
reason to believe that the new year will see
far greater amount of capital introducedint
this country from abroad than was brought
here in 1885, There has been invested in in
dustrial enterprises in the United States
since August, 1888, when l made the first
issue of American securities more than $780,
OOO,000 but during the same period more
than 5000, 0O0, 900 has been subscribed in Lon
don for other countries, including the Argen-
tine republic, Chill, Peru, South Africa, the
Transvaal and New South Wales, so that the
investment of capital in this country repre-
sents scarcely more than 10 per cent. of Eng
lands output last year. l do not include in
my estimate millions that have gone into
mining and land speculation.
Thinks 1t Good for Uncle Sam.
II believe this great influx of foreign CAPT.
tai will greatly assist the development of
our industries. The United States is not a
rich country 1t is too young to have be-
.I n.x1 10 uact mt frovS
properly employ all the capital that can be
diverted to it. The small amount of profit
that goes to England from industrial enter
prises in the shape of dividends upon the
business is trifing compared with the
amount of money that the Englshmen must
spend here, especially in the employment of
labor to earn that dividend. The man who
has business here and sells to an English
company employs his capital in a new direc-
ton and creates new demand for labor,
while the English companies which succeed
to the business must continue to employ the
laber before engaged.
One Hundred Millions Coming.
TWithin the past four months companies
have been formed in London for the pur-
pose of investing in Industrial enterprises in
America with an aggregate capital of not
less than 800, 600, 900. The last company OF
that kind recently formed is a corporation
known as the Law Debenture Corporation
for the purpose of acquiring mortgages on
industrial enterprises 1t has a capital OF
S15,OOO0OO The trustees for the debcnture
holders are such men as the present attorney
general of England, Sir Richard +. Web
ster, Sir Charles Russell and the Law Guar
antee and Trust society, while the board OF
directors embraces members from all of the
leading law firms in London. The people
who formed the company are such men as
the duke of Wellington, the earls of Win
chelsea and Nottingham, the marquis of
Abergavenny and host of others known to
everybody in England"
Decision Against the Standard Oil.
Nrw Yong Ian 1.-THE suit of George