The herald., 1897-12-22
OFFICE OF THE HERALD,
Los Angeles, De

OFFICE OF THE HERALD,
Los Angeles, Dec. 2l, 1897.
Under the heading of acute Klondi-
citis" the Mining and Scientific Press
prints the following timely and saga
= oious advice: At the risk of repetition 1t
n neutrality-suspicious. unnecessarily - to
warn would-be investors against taking
any stock In the wild vagaries of Yukon
transportation companies, Yukon in
vestment companies, Yukon navigation
companies. etc., which are now forming
the usual parasitic attachment to the
main craze, which in itself is bad enough.
Circulars from all parts of the country
mainly New York, Chicago and st. Louis,
and a few from this state, are received,
Z setting forth in the most ridiculous man
ner preposterous propositions. One in
!, particular received this week seems to
( BE- honest on the part Of it's producers.
= is noticed here as being the most
yromising and least meretricious Of any
: OF the brood. From it's prospectus 1t is
learned that this company proposes to
establish complete line of river boats,
with steam ice train combination, to run
between st. Michaers and the upper wa
ters Of the Yukon; proposes to purchase
two flat-bottomed river boats with stern
paddle-w wheel, size 200 feet long by 25-
foot beam. with capacity of 500 passen-
gers and 800 tons of freight; to purchase
xv,o u%ao -, Iaupobau with cfnry, Da d1lp-
wheel. size so feet long by 10-foot beam,
with a capacity of "a passengers and Is
tons Of freight each, all to be built of iron
and steel, and so constructed as to be
convertible into steam ice trains for
use in the long winter months, the small
boats and trains to be used in distribut-
ing goods In the various mining camps,
the large boats to cost $50, 900 each and
the launches $4,000 each. These ice trains
have been thoroughly tested, are con-
sidered as simple and practical as any
steam conveyance now in use; they have
great speed, and are strongly built, hav-
ing an abundance Of surplus boiler and
engine power The river boats can be
converted into ice trains in few days.
which will enable the company to navi-
gate the Yukon river nine months. in
stead of three months, each year. The
company proposes to do a general mer-
chandising business, and will establish
trading posts on the Yukon and it's trib-
utaries. which will be supplied from II
general store at Dawson" etc.
It is of course but natural that such a
stir as Is at present going on in the east
ern states, looking to a wholesale hegira
Alaskaward, would inclte a multitude
of questionable enterprises; and it is
but stating the plain truth that to any
one who knows anything of the facts Of
the situation there Is not the slightest
likelihood Of any stockholder In such
silly schemes securing any return but
experience on his investment
When it is said that the above is most
entitled to the respectful consideration
of any which has, SO far, been noted, it
will readily be seen how absurdly conf
cal the others must be OF course, any
one who knows anything at all about 1t
knows that the propositions quoted
above deserve to be classed with air.
a. ships, wave motors, gold manufacture,
and all the other schemes which collec-
lively have about as much tangible ef-
feet as a chimera revolving in vacuum
The wildness Of the Klondike craze on
the Atlantic slope and In the central
Mississippi valley must indeed be Of
wonderful dimensions to justify in the
remotest degree the birth of such lot
of monstrous schemes in connection
Herewith as are at present being foist-
ed upon the American people,
\ + =
During the past four months the bal
lnce of trade in favor of the United
States has amounted to 1925, 100000; and
while this large excess has been due in
some small part to the small amount Of
imports (because of the heavy imports
made last spring to anticipate the tariff
changes) the fact remains that for the
first time In long period Of American
history the United States Is the creditor
Of Europe.
A leading eastern financial firm says:
"There will be great changes Of invested
funds next year. More than one hum
dred million dollars Of national, munich
pal and railroad bonds will mature in
1898. The government will pay off about
thirty millions Of Union Pacific bonds in
january. There will be probably nearly
one hundred million dollars disbursed on
January for interest and dividends.
These facts, together with the existence
of easy money, indicate an unusual de-
mand for investment securities and still
lower income return upon those of the
highest or higher grades. This will, in
turn, stimulate activity in the lower
priced stocks and bonds, as the others
become absorbed or so enhanced in mar
, ket value as to be practically prohibitive
for the ordinary investor. The outlook
for the securities market is, therefore,
unusually promising.
= =
After January next the miscellan-
eous reports of consular and diplomatic
officers upon commerce and industries in
foreign countries will be printed imme-
diately after their receipt at the depart
ment of state, and will be issued in the
form of advance sheets. This change,
which has just been authorized by Sec
retary Of State Sherman, is intended for
the benefit of trade organizations, busi-
ness Arms, the newspaper press, etc. 1t
will result in practically the daily pub
lication of these reports except on Sun
days and legal holidays, and 1t cannot
be doubted that the wide and prompt dis
tribution of the information furnished
in this way will be helpful to the mer-
camille and manufacturing interests of