The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-09-07
THEY WANT TO INVEST.
Ansel Oppenheim Says That English
Capital Is Idle.

Anse1 Oppenheim Says That English
Capital Is Idle.
with money at " per cent in Eng
land 1T is practically unobtainable for
commercial purposes. Ii we IN TINS
country were on a sound financial basis
this money would come here at once.
There is on the other side of the water
the feeling that 1T will be safer to hold
off Investing until all danger of eject
ing Bryan by hook or crook Is past,
and you know nothing can better al
ford to wait than capital. This feeling
Is true. also, to a certain extent, in
New York, where likewise Little money
is being Invested; hence the present
financial stagnation" This is the view
given last night by Ansel aOppenheim,
whose return from a three months trip
across the Atlantic with his wife and
young son has been noted in this pa
per. MIR. Oppenheim went across on
business of "a private nature which
neeessftated his keeping rather closely
in touch with the money market in
Englands capital, where he spent most
Of the time. TheI distrust with which
the average English mind regards in
Vestment in aAmerican securities Is,
according to Mr. Oppenheim, born of
the notion that the Americans are pro-
posing to borrow dollars i'm gold and
later pay them back each with SO cents
worth of silver. Pursuing the subject
Still further, Mr.. iOppenheiIn continued:
I'm conversation: with one of the own
| ers and manager of the largest grain
concern in alb England, I learned that
he believed that owing to the free sill
yer heresy, the American farmer will
lose 10 cents a cbushel ON his wheat,
that amount representing the advance
IN price which, but for the financial
stringency, would tobtain on it's own
merits under Eordinary conditions. To
illustrate the feeling over in England
let me cite a case5in point: In an ad-
Vertisement appearing in a British pa
per for the sale of some Massachusetts,
bonds was the statement that the COM
mcnwealth had before this time paid
beth interest and principal ON certain
bends issued before the war, in gold,
although there was no obligation to do
SO. The little statement had it's effect,
and the bonds Were readily disposed
of. al!
During my stay abroad there was
organized an Indian railroad company,
backed by the Indian government.
Stock was issued and found willing
purchasers at par, and yettthe felix's do
not want our government bonds at A."
Mr.. Oppenheim declares that not
withstanding most of the American
railway shares dropped recently, the
stock of 1.-The Chicago Great Western
road, to whose directorate he was re-
elected during his trip had actually
advanced several points, and that the
company's A per cent fdebenture stock
was at present selling at 10.
What struck us most forcib1y dur
ing our visit in London said Mrs. OPP
penhein; who had been listening in in
terested fashion to her husbands views
ON the financial conditions, was the
rare tact shown by the English people
in their intercourse with Americans.
Any prejudiees which may have existed
are surely and effectually being
dropped, and while there is no studied
effort in that direction, it is plainly evil
dent that they are determined to in no
way reflect upon our patriotism. Eng
hand is an exceptionally prosperous
nation. 3