The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-04-02

tae ZIP 70 SFest = EosVexa0 80 4uo %
ssek ~ "a q to 1aah q PRAISES q =
doin9. The secus1fses fnus1 n fhe Ar
Gentine Republic. which vas the field of
the particular craze causinx the Barring
smash, and which had cost EngH1A bold
ers. Il was estimated. one billion collars.
went down TO nothing and wece uAsal-
able.
II might be suppo.ed that suct catas-
tFopae weuA have haa iasffAe effects in
England. In iezs than two pears e was
no longer referred 20. Such n the won
derfui recupe.afive power OF the English
people that by fask another craEe. super.
induced BY the huge supplies Of money.
was under way. Il was n TIE TranD-
wal this time.
Ssx 1sssareA 1GfIIsess N Mfses.
1t nas been estimated that since 1ssa six
hundred million dollars has gone into
mines IN the Rand, not 70 speak Of the
suns absorbed by allied Industries The
craze reached tts height In 1sS6. when
stocks OF eoane minsns companies were
bid up to a premium Of as much as loo
per cent. The public asked no questions
30 long - . project was designed for the
Tfansyaal. The spectacle 81 crowds Of
people waiting on the sidewalk Ia front
OF bankers Offices waiting for suhxcrsp-
Ing up checks and tossing them over the
heads Of the crowd was a common one
The stock of every new undertaking was
er-subscr1bed. The volume q trading
on the London stock exchange Wks 30
great that brokers were obliged 10 employ
double sets OF clerks, one to work all
night.
street acrobat to many times millionaire
need not be rsfoId here. His fortune,
great az II was. did not appear In the
statement filed at his death. Woody Joel
his nephew. and his brother. Isaac Bar
nato. there Il common report In London,
assumed charge Of great snare OF Bar-
ney's Possessions before he plunged into
the Atlantic ocean.
Riches Than Barnaae.
The glannor that hung over Barney
never attached To Belt. Yet he II be-
than Barney ever Was. Belt began life
as dabbler In diamonds In the South Az
rican fields. He. Barnato and Cecil
Rhodes effected the consolidation Of the
various diamond minss into the great De
Beers company. which now controls the
worlds supply and pays its stockholders
six million dollars year. Belt II life
governor. He was one Of the promoters
OF the chartered company. and Is the
dominating owner N C score OF Trans
vaal mines. 1t il very well underwood
that Belt pulled the strings In DR.. jane
sons famous raid The latter was for
stock jobbinx purposes mainly. The big
leaders IN the Transyaal mining market
had oversoid fhemselves. Prices refused
10 break. SO immense was the public buy
Ing. The raid was conceived for the
purpose of smashing the market. In the
parliamentary investigation that followed
all or Henry Labouchefes ingenuity and
energy failed TO elicit from the witnesses
Light upon the Identity Of the high person.
ages who were concerned. Belt was
thoroughly alarmed at one time during
the Investigation. He transferred a good
deal OF his property 70 the United States
and came over himself under an assumed
name.
south African Promoters.
In the South African fever dozens Of
other MEN came to the front as promoters
and although landing huge sums in a mo-
ment almost they were lost sight OF in
the shining light that beat on Barnato.
Belt, Rudd, and. In q somewhat less de-
gree. the two Lewisss. Goerz. Albu. En-
giish and Moreing. The whole continent
OF Europe was involved. The peasantry
of France and Germany put niliiens Of
pounds into the stocks. Even Chicago
contributed little. Harry OHagan. who,
IA said before. graduated from his job as
railway clerk and handled deals In Chi
cago properties involving nifty million do
lars In two years interested some OF his
old associates here to the extent OF about
$lao1. The money was lost.
There was craze in West Australia Co
Incident with the Transvaai speculation.
Bottomlsy and Whitaker Wright were
and have been those 20 profit most by II.
Wright knew the extreme OF the ladder
a few years ago. He iseregarded 80 much
Of magician that mobiles and old con-
seFva,fve business men struggle to get on
q -
est company. formed 10 operate In Brit
ish Columbia and Alaska. has for IS
chairman the Marquis OF DufYerin. The
capgtal OF seven and half million dol
lars, notwithstanding a section OF the Lon
don press ffssicased the presensions OF the
company. Was oversubscribed. and since
lis formas. ION come OF IFS objects have
been abandoned. which doesn't seem 10
make any difference with the public.
West Australians Mines.
Not less than three hundred and fifty
million dollars went into West Australian
mfnes In two years despite the fact the
country has developed few good snine--
The Edgl.sh public supplied II and cried
fer more investments. Then Hoo,ey came
I'm totally unknown man less than three
years ago. lie bid twelve and a half
million dollars for the Dunlop Tire Com
nsny ana worked IL of on the public for
sixty days. The shares Of the new con-
rany rose af once 20 a premium that
made their aggregate value one hundred
and seventy-five mili;en dollars HooIey
made over ATTY million dollars In the
transaction. With daxxf;ng rnpidit1 he
hs,ngat the Bovril company for six and a
hass million dollars and sold II 10 the pub
ifc for twelve and half million doilsrs;
a mineral water concern for three million
dollars and worked Z of for six and
quarter million dollars; machinery en-
;erpssa =: two million dollars, reseiIin0
Ger four million dollars. rs we'll host
81 others accomplishing II all with an ease
that amazed the older financial men IN
I<ondon accustomed - the strange sght OF
obscure men being elevated 20 leadership
.n day. HSoiey has the reputation Of
taking care Of his friends. He took pu
Cros honae freGs New York and made him
fseh and manager os the Dunlop COM
! pany.
Two of uoot~y's prcse~es.
Sir Christopher Fatnsss aud w F. Or.
rEss are twa conspicuous Fnen wis have