The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-04-13
BRITISH GOLD IDLE.
Views Of an Investor Upon
American Securities.
SEATTLE BONDS ARE m DEMAND.
Arrival ~ MAJ Graham rrsm Lonao OF
PSemiss Of - Easiy lsAsx Of Capt.
tal-0eatsis's Resources.

T. D. Graham, Of London. England. who
represents wealthy group Of English in
vestors. arrived in this city yesterday and
registered ~ the Arlington. He is accom-
panied By William s. Walker. OF Chicago.
who 10 his partner resident in America
Mr.. Graham's business Is TO seek profit
able investment for English capital. be
knows IS we'll As any one the eesinz OF
English capitalists toward this country,
and speaks in o most encouraging way OF
financial prospects. When asked about
the present attitude of English investors
toward this country last evening. Mr..
Graham said:
'.The feeling in England today is that
America II the held ABOVE all others for
British capital Wha, the English people
are most interested in. and l am very
deeply interested in. 10 good bonds. and
they will take them to any amount. /
woaid ind .vIdually be glad to get any nYst-
class bonds. On this country more than
any other we look a. the natural outlet for
English capital. We have been disap-
pointed in the Latin countries OF South
America They have been found o mere
sinkhole. South Africa has SO far been an
utter failure. You are aware that q great
number Of indusirials, largely breweries.
are placed In the English market, and
their failure to bear out the claims made
for them in large degree shook the
confidence of the British investing
pubic in American securities But
Developments havei taken place that
have shown that the American
vendors were not the sinners. but the evil
lay at the door of the English promoters
and their associates, who very modestly
doubled the price at which they bought
and set forward in their prospectors'
claims as TO profits that justified this ex-
aggerated price which results prove were
far too high. Now many Of these securi-
ties this last year paid dividends ranging
from 4 to s per cent, showing that, over
capitalized IS the properties were, they
were really increasing IN value, and this
has had a very good effect. These pro-
motion houses, too. have been financially
ostracised and l am OF opinion that any
hrst-class industrial proposition of the
future will PROBABLY be handled by houses
OF high standing. and whose names are an
absolute guarantee of good faith.
with regard to Seattle had an offer of
$500, 900 in Seattle bonds last December.
The moment presented the bond propo-
sition It, was fayorably received and the
statement was made by very prominent
London house: We hold some of the
bonds of this city already and we regard
them as first-class in every respect. and
would be glad to get these immedi-
ateiy cabled Mr.. Walker to offer So cents
and informed him that would go as high
as OH The offer was declined. Ninety
seven cents, New York delivery. is equal
to par in London. The city of Seattle is
well and favorably known in London
financial circles. l have strong grounds
for saving that you will within few
weeks have a couple of gentlemen very
prominent in financial circles down here
trout fishing. Both are enthusiastic
~ - hAv nil tfx tsf
fishing when they take a run down here. I
know they will look into this part Of the
country.
1.-The depression in financial circles in
London seems to have reached its lowest
point. and probably at no time in the his
tory Of the Uuited Kingdom was there so
much money lying idle A change must
unauestionnbly take place. and that very
soon. and the result wall mean that invest
ments in some Of the rapidly growing
cities in the west of this country will be
freely made. believe there is q great
future for Seattle. The present stagna-
ton in business Is ty no means peculiar TO
her. Ind IL all over the country. Seat
ties weak point seems to me TO be in the
fact that she has not copied the example
OF her Eastern neighbors in offering strong
inducements to manufactures With her
immense mineral resources and her facili-
ties for both land and water transporta-
ton she ought certainly TO have some
steel and iron industries. and think that
II the business men of the city were to fol-
Tow up this line of thought they would
have no difficulty in reaching the desired
end"
As an indication of the feeling in Lon
don Mr.. Graham exhibited a letter Just
received from heavy investor, but one
who generally looks on the dark side of q
PROJECT, IN which he says: Leave no
stone unturned under which there are
good bonds. The market has very much
improved and good bonds are rapidly
getting scarce"
Mr.. Graham is q pleasant scotchman
who served twelve years in the Eng ish
army. leaving q captaincy after the Zulu
war, has travelled great deaf and Is a good
story teller. He says that while he is not
entitled 10 military title, which is
dronped in England when a man leaves
the army. yet he has been breveted "ma-
ior" by some people in this country. He
will remain in the city several days.