New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-25
financial.
THE MONETARY TRUST.
so BROADWAY. NEW YORK
To American Investors:
80 BROADWAY. NE

In order that YOU may understand The Monetary Trust
by what It Is doing well as by what 1t is saying. We
place you the foowng letter which was orisnA
prepared tor private circulation among clients IL
may he well explain that the Trustees Of this ins'"
had contemplation ihre, different lines OF IN
vestn,ent the transactions he located in widely sepa
rated departments q france This has been Planned 10
risks probabilities. Each 81 these
investments must studied from IT'S own standpoint but
taken as a group the mai results will give Just ana
comprehensive measurement the usefulness u the IN
The herein referred TO Illustrates ''
character Of courageous investments "hch shsulh "'
undertaken only when conditions exceptionally FAVOR
abe. believe them To be- II would pe s'""-
fyng to our Trustees investors who are not YET
prepared rely upon this institution VIII sriect SOM.
well-known member Of the Newiork STOCK ENoh"nse ana
purchases Of St Paul. We Indulge the nope '"a'
such action give you least peasant experience
in connection with the forecasts Of The Monetary Trust
To THE CLIENTS OF THE MONETARY TRUST;
We have postponed action in your behalf for several
weeks observers IN London VINO are "a0'
full Of the movements bond syndicate have believed
later that syndicate will feel re''e'eu ~
obligations to the In regard 10 the gon r.
serve a possible bond issue throw us snau"" o
the market. 49,.
our trustees have expected large outflow Of gold this
year Returning Americans at this season arc !"
banking office of Europe making drafts upon "e"-fo'A'
Both and wheat held at prices anoNe eNP''
value although this may prove finally ne''er 10Y US %
conditions insure higher prices for boh co'o
cided Of the worlds hest money, and II TINS iac'
established. with present crop conditions IN 'hs oo'
try outflow Of gold. or even announcer 'ss"e "
bonds will bear about the same relation the present
and prospective wealth u the United states as the pun
chase ~ carriage whip by Mr. Vandero't WOMB
have upon the outcome Of his fortune We have not soon
aloof therefore because Of real danger put III ouei "
take advantage Of such markets az misconcep'ons 's
create That period Of the year. however Is no" 'n'e
diatey before us commercial. industrial ana IMAM
cal int active
the New-york Stock Exchange as well as esewhere' "
erting influence overcome any lasting enec'
probable developments in regard to the export OF s
We conclude therefore. that the time mas come wiz"
some COURAGE should exercised and have made moder
ate purchases your account Of the common STOCK OF
the Chicago. Milwaukee and ST. Paul Railway company
1t will good fortune for you II the above 'nnuenoes
should so depess :he that purchases can he
doubled.
Present indications favor such decline and there
fore we have in contemplation transactions located In
different field Of investment
We aprroach this stock without fear Of pitfalls. With
VIM Rockefeller Samuel Spencer (Pierpont Morgans long
time partner) and August Belmont in the Board OF
Managers feel afraid Of sudden undermining
OF the stock.
The territory covered by virtually assured
Of bountifu crops. Its is far enough beyond the
reach Of disaster 10 guarantee the farmers at least suf
ncient needs and those OF their live stock
Every important locality in the United States VIII proh
ably have sufficient this year for its own require
nut will be transported In primary condition
A large proportion Of this stock will stay on the farm
until pigs and beef have fattened. Live stock in the
entire West ebb and II will therefore take con-
siderable time realize from this tranfc
These conditions not true Of wheat. and the ST.
Paul Company stand in better position toward
that this year than any other large railway sys-
tenn lumber COAL merchandise. and other freights
with the revival OF general prosperity IN the
Northwestern country.
the Of earnings FOR this
system during a year beginning with this date is
above million dollars Such earnings will provide for
necessary repairs improvements and place the Com
upon four cent basis at date not far distant
Such a railway system should be valued by Its
power during failure and after panic condi
tons but rather its relations to the future Amer
railways will less the average during the
present period Of prosperity than during the previous
period but meanwhile the price paid for the OF
in all the Of the world was never 80 low.
rcadjustment must take place between this money and
sound securities
Mea sired by the low earning power OF tho
mutation OF money idle in the vaults Of Europe.
measured by its comprehensive the period Of
prosperity unfolding in this country without biem
sh its doubt about its earnings. st.
Paul stock will become cheap at par
Even from a speculative standpoint It though
market movements should favor this stock 1t has always
been less barometer Of the market Its changes
generally show the results OF the OF prosperity
London has been under the control Of bearsh
sentiments and short sales Of this stock that market
have probably been large. The arbrage brokers'
in NewYork large borrowers Of the stock.
Some weeks ago a difference Of opinion between
Stock Exchange and the
friends Of Burlington More recently similar difference
Of opinion has arisen between the bears the London
Stock Exchange and The Monetary Trust.
The level Of prices Paul stock similar
securities will be created by increased
tendency Of the times. by the pressure money
by the OF general prosperity and the rapid
growth OF the country. Amid such surroundings manipu
ation feeble futile. II the froth waves
compared with the tidal Of the Those
who ignore such superficial influences hold this
the longest will win the Besides.
sationa and speculative activities any
harmony with intrinsic conditions
The skeptical British mind lunacy
United States has lost lusre. and that this |
country. after all. the best place for British money.
The large professional operators Of London who
relatively rich from gold speculation may
their money. When buy invest their money they !
go slow, when they buy their money they get
A hurry. 1t he that people will
back the Summer plucky mood pre-.
buy something before panic prices entirely
gotten. There is already large public this market
when compared with the quantity good
stocks for sale. Possibly this public the splendid
business early Fall begins stir our energies
may bits It's mouth and forget all gold
exports Whatever may happen. when the market does
leader.
FRANCIS ID. CARLEY. President.