The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-07-17


Hillsen Massed.
NEw YoRK, July 8.-Perhaps the most
astonishing increase in capitalization has
been that which has characterized tho
management Of one Of the railroads in
which the vanderhiits are interested, the
New York Il New Haven. Five year. ago
It had capital of SIS, O0O 0OO, and no debt
to speak Of; since that time is has increased
represents 500, 600. 600, ranking with the
sugar trust, the Western Union, the New
York Central, the Standard Oil, and being
outranked by less than dozen corpora
tions In the world. The ease with which
gsther was illustrated by De Lesyeps' ex-
perisnce in France. although this great
sum was diverted from the uses for which
agance and dishonesty.
A few weeks ago one or two capitalists,
calling upon some Of their friends in New
York and proposing TO create new ma
tional bank, within six hours had secured
subscriptions for 100000. and one great
institution in New York with over $780,
OOO 900 of assets promised to keep 5000. 900
Of deposits in this bank. A capitalist who
recently came into an inheritance of moro
than SO. 000. 600 was visited BY . financier
of high repnte. who proposed to him to
join syndicate which had for its object
the construction of an underground rail-
way in New York city. He thought of the
matter over night and the next day was
ready to subscribe IS 900. 600 to the syndi-
cate. Other capitalists were visited: and
SO readily did they respond that sub
scription Of $l5.0000 600 was obtained in
<h .en do~,ss t;,nn oud CON tim NJ pr0misa
of $50 0O0. 900 more II that should be needed.
But the greatest aggregation OF capital
for commercial purposes Il 10 expected will
be developed before the end Of this year.
T11Dse who are negotiating this enterprise
are very quiet about It. but It is under
stood that i is proposed 70 org: . &c com on,
whose object will be to control the electric
railway systems Of the United States,
vastly to increase them, and to make
single system BY which 1t may be possible
to travel from Boston to the Mississippi
river. and, in fact, all over the country
north Of the Ohio and east OF the
cars . single time. The question
Of capital 10 not the difficult one
for those who are planning this thing.
They have no doubt that they can secure
this enormous sum Of money, either by
subscription or by borrowing. or perhaps
by both methods. xn0 OlIUcuttAeS Wuicn
are to be overcome are mechanical, politi-
cal and legislative. and If these are met and
conquered 1t 10 likely that an organization
will be created whose capitalization will
he quite ~ great - that proposed Tor the
Panama canal.
This tendency has besn noticed by men
in public life, the ablest Of whom at least
in their private conversations believe
that it cannot b overcome BY legis-
lation and that nothing short OF .
revolution in civilization will check it.
That was Mr.. Blaine's view. and some
Of Mr.. Cleveland's friends in New York.
bankers who have had part in these
enormous undertakings, say that no does
not believe it can BE- checked, does not
think that il would Be wise to attempt to
check IL, and 10 Of the opinion that all
that legislation can do will be to prevent
the creation Of unjust mOnopolies, and to
make il impossible that any class shall re-
ceive special legislative favors.
One Of the ablest bankers OF Wall street
is of opinion that within the next ten
years We shall see new aggreEaeions Of
capital representing perhaps billion dol
lars and nevertheless representing Also NOS
more than five or six corporations.