The age-herald., 1898-05-17
FALSE PROPHESY
 OF STOCK JOBBERS
By JAY DURHAM.

The average flnapcier, the man who pre- sides over the destinies of the trust com- panies and great financial institutions in the large cities of the country. know, perhaps, less about the people of a countrywide conditions of a country-than any other class of business men. Recent events have shown conclusively that the f1naneiers of the country do not possess as good judg- ment on questions outside of their own business as do those who never saw the inside of banking house except when they went there to negotiate loan or re- new it. It must be fresh in the minds of all persons who kept abreast with the movement of events for six weeks or more preceding the declaration of hostillties be- tween this country and Spain that the bankers and monied men of the country prophesed that in the event of war there would be a greater decrease in values of all kinds than was ever known in the his- tory of this country.
 
 Hundreds of the best-known financfers or the country swarmed about Washington and used every power possible upon both congress and the president to prevent hos IllllleS. Hey fdNSu, lOiC anu hio0S tAAN e@-- blue with profanity at the conduct of the so-called jingoes, and denounced every man fin congress who made anything of a war like speech as a traitor to the country and an enemy to Americas free institutions. These alleged wise men of the banking houses oftentimes went so far as to indi- cate that th's government ought to be man. aged more particularly for their benefit than for any other class of individuals They first attempted persuasion. That falling' they resorted to threats. They would nave sunk manhood and honor fathoms' deep ana suffered insult after insult from Spain rather than show any resentment.
 This was the teaching of the banking house magnates They went to the capi- tol in droves exhibiting lists of securities and commodities, the value of which would. as they claimed, be completely and utterly destroyed in the event there was single shot fired by this government against Spain, They claimed a superiority of knowledge not found in other people, They attempted to dictate diplomatic negotia- tions and everything they suggested had attached to it at some point monied con sideration They argued that this nation had better make millions sacrifices rather than protest, and when Spain insulted the country once it was the proper thing to solicit repeated insults. The only reason they objected to war was because it de- stroyed, as they said, values.
 What has been the result? The exact contrary from every statement made by the banking houses has transpired Instead of securities depreciating, they have ad- vanced It shows that the financiers knew absolutely nothing about what they talked The manipuators of finances have little sense in times of excitement. They never come in contact with the people, there fore they know nothing whatever of the people. Below is printed a list of. seventeen securities, all American stocks, showing the value of these stocks on April %, which was the day the real declaration of war was made, compared with their value on May Il, ten days after the war began.
 Lowest Highest