Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1894-03-18

| supply OF projects Is simple. during
the panic nobody would listen to 3
scheme, no matter what it was. In the
homely vocabulary OF the banking
fraternity, gold dollars couldn't be sold
for ninety cents last Summer and Fall,
Before the panic set in, and for several
years previous, schemes had been in
some demand Many OF them had bsen
| successfully negotiated. Industrial es-
| adjustments OF real merit were put on
! the market, or rather the stock of such
concerns was, and they found ready
sale. The public bought the preferred
! shares OF Well.known business houses
and where the dividends have been
regularly and promptly paid, the is still
/ a demand for the stock. These sue
cesses encouraged the schemer and he
| began unloading all his ventures. Then
came the panic and everything stopped.
The embryo scheme, the partially de-
Yeloped project and the fully developed
enterprise were shelved. Half a dozen
! banking houses and a score Of brokers
we're just preparing to issue enterprises
| 10 the public when the financial cyclone
| struck the country and blew the street
clear of It's feet.
For the past TWO months, Wall street
/ has been improving. 1t hasn'tregained
normal health yet, but IL Is recovering.
Like most convalescents, IL is beginning
to resume interest in former matters
! Ii is looking around TO see what was
| left from the wreck that Is worth saw
ing. 1t may he said that a species OF
financial salvage is in progress In GER
tain directions OF course, the schemer
! has eagerly watched the recuperative
process on the part OF the great money
| patient The moment he saw signs OF
! reawakened interest, he trotted out his
! old scheme and resumed his former &C.
cupation. Brother promoters saw the
scheme Of their colleague on It's rounds,
and fearful lest they might lose an OPP
portunity 10 dispose OF their wares,
they took their projects from the
shelves, busted them of, polished them
up, and tucking them under their arms,
undertook new pilgrimage. The pill
grim promoter Is once more jostling you
| on the street and again, as OF yOre, Is
| haunting the banker and sitting patient
ly but persistently at the door Of the
capitalist From early morn until the
clock strikes six, the schemer tramps
around with assorted specimens Of all
! that the financial world ever contem-
plated, and with a startling array OF
relics. Just few thousands here and
few thousands there will infuse life
nto these defunct projects, according
to the statements of their promoters,
and il only requires the trump OF the
Angel Gabriel Of Finance TO sound, and
at once there will he such resurrec-
uon Of fortune making enterprises as
the nation never witnessed.
There is one sort of scheme, how
ever that has failed TO resume rs fami-
liar round. The man with a silver mine
has disappeared. Perhaps IL would be
more lust 20 say that the scheme has
vanished, while its old spokesman Is Oh
the ancient path with gold property.
Silver mines cannot be given away in
New York at the present time. The
thousands OF investors. who nibbled at
silver shares In the days when The gay
! ish metal showed profit, are an1iously
inouiring whether the mine that took
their money isn't showing traces OF
gold or lead, or anything except silver
The average Spectator would no more
gamble in a silver mine now, with sill
YER selling lower than ever, than he
would invest In farm 10 order 70 raise
wheat. when the latter commodity has
touched the lowest price on record.
However unfortunate this may be, 10 Is
the truth and when q certain class OF
schemes is dead 10 Wall street, there Is
no one even humane enough 20 give II
halfway decent burial
But It is different with gold mines
They are Oh the food. A really meri-
torlous mine finds q ready market in
New York, and perhaps a still more
ready market IN London. The trouble
is that the lt.nerant scnemer brings few
properties TO the street that are IN
salea5le shape. He has claims, or
alleged claims, few Of which have been
vonched for and still fewer developed.
The man that can come 20 Wall Street
with good property that Is yielding
handsomely, has paid dividends, has
plsptv Of ore 10 sight, aud Is equipped
with good machinery and the title 70
which is perfect aud free from cOmpli.
cations. need not hunt long for pur-
chaser. Wall Street boards gold IN the
shane OF currency. but seeks gold 10 the
ground which can be sold 70 the mint
and speedily converted into coin. There |
are several syndicates looking for such |
Investments. Haggin, the ola Caliior- |
MIA pioneer and millionaire, Is buying |
gold mines as they come along, 10 con- |
junction with Senator Jones Of Nevada |
Darius 0. Mills Is said 70 corner paying |
gold mines. David II. Mofett, the !
Colorado railroad magnate, spends bis
time largely in New York buying and |
selling this kind Of property. Stephen
". Dorsey works with Moffett. Dor |
sey is a clever negotiatOr Of mining en-
terprises, aud Is credited with making a
big sale recently 70 English parties.
There are half dozen small banking
houses that are making = speciality Ia
this direction.
Outside OF gold properties, the
schemer has mucn chance OF success as
vet There is capital again on tap FOR
Industrial plants, but most Of IL - en-
Razed already IN some enterprise that
was in shape before the panic, and Is
only awaiting clearer skies and milder
breezes in order to float the craft Oh she
subsiding sea. Macy q banker came
near bankruptcy last year because Of
the cash required % keep IN form .
good business that but for the storm
would have been issued 20 the public