The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-18

have been fioated on the market, and
though large share of these stocks
remain locked up in the safes of the
companies, an immense amount has
been realized from the sales that have
been made. Probably a billion dollars
has been paid by investors for shares
in these new companies, and of this
no less than one-fourth has gone to
the men who engineered the combina-
tions and iloated the securities.
The Promoters Rich Harvest.
Promoting pays the biggest profits
| of any business the professional finan-
ciers have been able TO devise. The
past master in the art is Anthony N.
| Brady, the new leader of the street
who has had hand in almost e-ery
big combination that has been put
through in the past few gears. Mr..
Brady is said to have received a mil
lion dollars for carrying through the
| great electric deal which united the
Walker and Westinghouse companies.
His achievements in this line during
the past year must have Melted him
above $5,O00,0OO, perhaps twice that
| sum.
By all odds the biggest combination
| of the year, or of all time for that
| matter, was the giant iron and steel
| trust. A dozen different financiers
were concerned in it. At the head Of
them We're the Moore Brothers of Chi
| cago, who are reported to have received
| 900 for their services. The aggre-
| gate sums paid to the men who brought
about the thirty odd other great COM
binations that have been put through
! in the past three months amount to no.
less than $50 900, 600
As usual, the big fish have had the
chief share of the profits, but the little
fish have not gone hungry.
New Pledged Capitalists.
The telephone clerk of one of the big
| brokerage houses made $50, 900 early in
| the season from the rise in Chicago
Gas. In doing this he violated no
confidence, for he bought on his own
| judgment, investing and reinvesting
the savings of several years, until he
was ready to set up in business on his
! own account. Another firm had in its
employ a bright office boy. who caught
some of his employers enthusiasm over
the upward flight of the market. The
boy went to his grandfather and Dor
rowed $4,000 which the old gentleman
had laid aside against rainy day. In
a month he returned the amount with
generous interest, having in the mean
time made $1,000 for himself. One of
the unique speculative successes of the
year is that of a young Italian who
made his first thousand from system
of bootblack stands, but who has mas
tered the intricacies of stock fiuctua-
tions to such good purpose that he is
now worth something like 100000.
Statesmen, bookkeepers telegraph oper-
ators, almost everybody in the district
that comprises the money market,
have caught a few drops from the gol-
den shower that has poured down on
Wall street for the past few months.
Even the newspaper men who report
the doings of the financial world, and
who are seldom drawn into the meshes
of the speculation, have profited by
their opportunities during the past
season. At least one Wall street repor-
ter who shared with the editor of the
paper his foreknowledge of the mar
ket's course, has made for the two no
less than $50, 900. OF course not all have
been fortunate, for the Shearing of
lambs goes on continually on the street, |
but there has been such a steady ''bull' |
market with strong upward tendency |
in prices that the market has not been I
difficult to follow, and the proposition |
of successes to failures has been I'M |
usually large. Probably there has never |
been a season when so many outsiders
realm of the spectators as in the one
just closing.
The Seasons Greatest Coup.
Curiously enough. while there was d
strong and active 'bulr' market from
November to May, the greatest single
speculative coup was the result of
bear" raid. AS might have been ex-
pected, it was headed by James r.
Keene, and it occurred on the exciting
day that followed the death of ex-Gov-