The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-23

xxx
king of the Street, as he is called. and
master manipulation that he is, Mr.. James
r. Keene rarely gives advice on the mar
ket. When approached he either evades an
answer or postpones the giving of advice
to some future indefinite day which never
arrives, If he can help ii. A close personal
friend of moderate means, who had been
after him for months for a market tip, be-
came impatient one day and announced
that he was going to buy a certain stock.
instantly the wizard Of the street" famed
into life, and in his high-pitched voice
turned on the young man with a shrill
Don't you do 1t! Don't you do it! Keep
out of the stock market and your
money. l am the best speculator in Wall
street. j have special gifts for speculation,
and / think about ii night and day. study
conditions deeply and have my hand on the
money markets OF every civilized country
on the globe. / pay more money for in
formation than half of Wall street; have
the best. There are rev Dig accounts IN my
commission or banking houses that I do
not know about, to what point they are
protected, and something about the re-
sources Of the men behind the guns; yet
with all my skill and experience and money
l can only beat the game four times out of
seven. They beat me on the average three
times out of seven at the best can do. If
/ could beat them five times out or seven
would have all the money in the world
Now, If that is the best can do, what
chance has an amateur? 1t is dead GER
tainty that you would lose your money If
you went into the street." In this par
ticular instance the man advised did not
act on Mr.. Keene's suggestion and lost
every dollar he had.
duced to the new celebrity at Waldorf, Nc
Donald, "King of the Klondike." The two
men shook hands warmly and Mr. Keene
abruptly remarked, II understand, Mr. Nc
Donald. that you have s. 000.000 or $1,000, 600
The big Nova Scotia Scotchman stammered
a modest assent, whereupon the great spec
ulator added, with spice Of profanity in
his remark well then. If you want to
keep it stay out of Wall street. If you
come down there We'll crib you, sure. The
king has thus far resisted the fascina-
tions of the financial district and retains
an undivided interest in his bank account.
XXX
About 5000 new freight cars are added
annually to the equipment Of the railroads
of the United States. At the present time
about $4,000 freight cars are in use, earn
ing for the companies $500 each every year.
The increased freight earnings this year as
compared with last will be approximately
SEQ 900 co., equal to about per cent on the
aggregate share capitalization. About one
half of this amount will be saved: that Is
TO saw. ii will be available for distribution
to stockholders ana IN paymTThe VI
1.-iu co TO iefray operating expenses
The president OF one of the great railroad
svsfems made a statement in the course
-, intarvisw. which was both explana-
tory and interesting, as well as illustra.
tive Of a feature In railroad development
,hi,c He said: something which is not
ccommcnly understood is the fact that rail
roads are Obliged TO spend enormous sums
of money at this time in charging tnelr
tarntnaI facilities in the important cities.
Accommoda tons which were ample 1--WE
and ten years ago are now totally made
20 transportation IL Is continually neces-
sarv to buy additional ground. put In more
tracks I'm freight yards. build new ware
houses and improve the methods or hand
Inc traffic. To do this requires ereat
outlay of money. and to. raise the money
there must be additional issues or bonds
and sfock. There Is nothing In this OF stock
wafering. and there is no waste nor ex-
srevaearce or misappIfcation OF funds In
providing for the improvements Every