The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-08-22
ALL PRAISE SEATTLE.
The Canal Has Carried the
City's Fame Across Oceans.
LONDON PAPERS SPEAK OF II.
b. F. shauhut Teris How Her Enter
prise Has Advertised the City
south African Craze In England.

The Lake Washington canal has made
Seattle one Of the best advertised css.es
in the world said r. F. Shanhut. in talk
Ing OF his recent visit 20 London and
the East from which he has Just returned.
Two or three of the London papers com
nented on the spirit shown by the Seattle
people in raising the subsidy OF half mil
lion dollars. and every body | met there
no sooner learned that I came from Seat
tie than he wanted 10 know all about il.
In fact. | think our city is as wen known
in London as in New York among the
business pubic. for the people met there
were pretty wssl 1oSted on Seattle and
Der prospects. All the way across the
&C dntry = found the same interest in the
subject. In New York | was asked fully
fifty times about II during my short stay
there. and l heard more talk about Seat
tie in Chicago In one day than I ever
heard there before in a month. l ,ook an
English friend OF mine TO see c. y. Dose.
who owns property in this city, and we
found his Office Tired with maps of Seat
tie and Lake Washington. showing the
canal and the tide land improvements.
He told my friend that the canal would
give Seattle the finest harbcr in the world.
and when the Englishman seemed inCred-
ulous he undertook in fifteen minutes to
prove it. He then explained the whole
proposition and showed that when the
canal was finished Seattle would have 80
miles of harbor front. From Chicago
west. inquiries for investment here were
more numerous than on any previous trip
j have made East. The people In the in
terror towns. many of whom have never
seen the sea, and therefore cannot appre-
ciate the magnitude of the undertaking.
were much interested and were eager 10
have IL explained TO them by some person
who knew all about il. i suppose / must
have explained ii to fully fifty people dur
ing the eight days l was in Minnesota"
American Stocks I'm England.
Being asked what change there was in
the standing Of American securities in the
London stock market, Mr.. Shauhut said /:
American securities are at a discount
more particularly because the leading
railroads are in the hands of receivers,
and up to the time i left London they
were not improving. The great cry was
II the corn crop proved good, the moment
il was assured and harvested, American
railways would I'M ybve. I frequently
asked the people wry they stipulated
corn, and why good wheat crop would
not have the same effect. The answer
was that the railroads in America in
which the English public is interested re-
ceived five times as much revenue from
corn as from wheat. This was a great sur
prise TO me. The explanation is that they
are interested principally in the granger
roads, and therefore look twice as much
to corn as to wheat"
How do Western securities stand in
London" Mr.. Shaubut was asked.
mo securities from the United States
are salable." said he. unless they are
guaranteed by some good well-known
company, and not then unless you can
show that they are paving not only the
interest on their bonds. but some divi-
dend on their stock
Craze for south African Mines.
1.-THE speculative feeling in London at
present is all South Africa. English in
vestors have been for five years simply
dropping the United States, and their
first field after that was South America
the Argentine Republic where Barring
Bros. and other prominent firms made
the immense investments that brought
them to the wall. Things remained dor
mant for awhile. and then they went to
Western Australia-the Coolgardie coun-
try--where a great deal of money win
probably be lost When the Coolgardle
craze died out. the South African craze
took hold of the people. / found country
bankers, country mechanics, tradesmen
and even the guards whom We
call conductors on the railroads, all
a little stock in some South African
mine. They all follow some leader and
have some craze. Just as an illustra ton,
I met an old Montana friend at the Hotel
Metropole. who told me OF a mine, the
stock of which was selling at 10 shillings a
share, and he said 1t was bound 10 go UP.
Sure enough, within thirty days that stock
had gone up to go a share"
Mr. Shaubut says that he was very sue
cessful in regard to the enterprise which
took him to London, but ia not yet pre-
pared to tell any particulars about IT. He
leaves in few days for San Francisco.