New-York tribune., 1901-12-14

THE PASSING THRONG.

1T would seem though corporation OF
blind pool nature should not be permitted to exist
in this country" said Howard
FIGURE Chandler of Philadelphia, at the
HEADS OF Hotel Albemarle yesterday, for
REAL, STOCK grief and ruin is all too likely to
HOLDERS follow in it's train. This fact is
brought home by the recent erratic
and extraordinary course Of the stock OF the
Amalgamated Copper Company. which has entailed
a full measure of misery upon those who nave
been unlucky enough be holders of its stock
The fgureheads that have in large part made
long been the subject of derisive comment on the
part of English writer's In Aioon AID ord Is qear
the wolves and vultures OF the City have taken
contain rank in proportion the Importance of
the undertaking. Thus duke figures on a board
ond and so on down to the catch shilling corpora
tions which have to get along as best they can
with English blood in our, veins we come
so easily guIled gulled we are, and that too often
In England a lords name catches the croWo mere
throng Of investors So our directorate boards are
that fnanciers of lessening ealiore correspond 20
the dukes and titles downward At glance II
that a name that stood high in the world Of money
should be guarantee that none +bsreb mnG hVes'eu
When the directorate of the Amalgamated Cop
per Company is scanned the names OF some OF
the greatest and most successful
TO PROTECT fnanciers of the age are found
STOCK therein. Under the influence OF
HOLDERS the great banks that were It's
agents and the greater interests
that were understood to be behind it, the original
rush to subscribe for the securities Of this company
was simply overwhelming. The names OF those
identified with felt by the public to De
certain guarantee of success and fair dealing, ana
because of this feeling the stock was easlly us
thousand shareholders now said TO be on the
Amagamated's transfer books.
I'm spite Of the great names IN the dlreclordse,
in spite of the great banks that are its transfer
agents, and in spite of that gigantic and most sue
cessfui corporation that is supposed In street par
lance be behind the Amalgamdted company,
what has been the course pursued? In a period
measurable by months it's securities have dlmlr-
ished full 80 per cent in value and loss OF over
$50 100000 entaed its unfortunate Sharenolders
This too while copper has been held at nXeo
price to the consumer, and without one word OF
information, pro con. being vouchsafed Dy Ihe
management OF the company Great rum 20 lnho-
holders has been entailed. Panic stricken
they have parted with their shares at great loss
and whatever may be the outcome or the nnal re-
suits of the mystery shrouded operations, Tor the
great body of those who first purchased the STOCK
there will be permanent loss - -
DAYS when Erie convulsed the street Dy its
evolutionS supernduced by the deft fingers or Jay
Gould and James Fisk. 1t should not be and could
be If the operations of the company were as
not the industrials publish their earnings from
week to week and month to month. as the rallroadS
do? And why should not they give out truthIul
sheets showing their liabilities and assets?
done to the innocent in copper. but it Is not too
early prevent repetition OF that wrong IN TINS
very stock or any kindred to it In its makeup and
method of operation.