The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1903-03-09

tre rctlEe g bElFe llslEees. flAe1
iarest-s-ts rzy 3 zrt 5 per ce-t u
is 10 u1co--o1 tkf-E fo- -E1ufactl--
irr estzhHshzs-ts 70 earn - re- ce-t
I'D setter O. TIE volume % tus--ess-
he net results Hre q course. less O.
ihs ErEreEE,s % zere 1tue t.1siress
but as above STATED ~ average nav
- Pus tora a. a. leAzt ~ per cs.L
Il vfB sppsa-. thsrefo-s. thzt q
ate years domestic commerce ard in-
tustr5es have increased cur nztiuusi
wealth s2eoo .eae oc'9 a year. 70 -hich.
q course. nzst ee sdded the natural
End i1evHshie Increase in rsiues q
manner q properties There Is 70
available data showing What this
soo1nfs 20. n The case q railroads
bes; a.thoruss have sred the annual
growth from decade 20 decade 81 2is
to 4 per cent
These are facts Enich are overlook
81 eadreiy By market reporters. anan-
ciai writers and Others Who are Just
noT making great ado about TIE In
crease Ia czpitAiizztion of corporations
In q haif-frightened way they dwell
much on the fact that within the las;
eightesa months bonds have been is
s1ed against established railroad and
industrial properties 70 the amount q
nearly t700. 900 90. This Increase
represents in reality only a part q tae
normal and legitimate enhancement Ia
the values q the properties on which
the obligations rest In practically
every instance the money obtained
from the bond issues has gone back
into the property In extensions and
bettermen.s. The railroads and man
ufacturers are obliged 20 keep up with
the times and 10 do 50 they are CON
PEELED 70 spend money. just as a ner-
chant OF hotel keeper has to do. The
money invested in new bond and stock
issues Is only a fraction OF the income
.Of the people They cannot put all
their increasing wealth into houses.
lots. fine clothes. rich furniture and
travelling and they have TO look around
for investment Some Of their money
goes into insurance and some into
stocks and bonds The stock market
does not probably get an unfair proper.
tonate amount Of the whole.
Wall stree; Is much Interested In
the Iron Mountain bond issue Of s50.-
100000. following as it does. sharply
on the heels OF a Western Maryland
bond deal for an equal amount Both
OF these are Gould properties. The
Gould party has been at enormous ex-
pense during the last few months in
developing and carrying out projects
in connection with the invasion Of the
Eastern trunk line field and also in ex.
tensions in the Southwest II is the
understanding the funds for the cam.
paigns came originally from George
J. Gould and his immediate family
and from John d. Rockefeller The
surmise Is that these bond issues are
primarily to reimburse the capitalists
for their personal outlays. the remain.
der TO go 20 the completion OF the
plans under way. A large part OF the
$4,000. 900 left by Jay Gould to his
heirs was made by that astue hnan.
cier by running his properties in debt
and exchanging their discreditsd OBJ
| II ligstions for bonds at a low valuation
This device became a fixed faraiiy pol
icy and has been put in operation a
number OF times with signal success
since the demise Of the elder Gould
The Goulds now find themselves in
quite as much danger in the rear as
in the front The consolidation Of the
Rock Island and Frisco systems and
the known friendliness OF the Atehisou
10 the new railroad giants virtually
puts Missouri Pacific and other Gould
| Rockefeller lines in a hole" In the
event OF railroad war in that part OF
the country the Gould properties would
be at a decided disadvantage. Hence
tae necessity for extraordinary efforts
by Messrs Gould and Rockefeller
along defensive lines.
The powers Of the Street" are ar
rayed against bull movements IN cot
ton and grain. A determined drive Il
being made at Daniel J. sully. who
leaped into prominence as the organi
zer and leader Of a deal In cotton. HI.
loans have been called relentlessly anC
the country is being circularized viii
a view TO discredit him. The allegeC
unsOundness Of his position is being
pointed out and people are being ad
vised that the markets Of the old work
ara moi raeugnNfng ~ tho hf,ff ,,,.,,-.