The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-25
TINE CALL A Halt
Col. w. H. Coler, a New York FL
nancier, Thinks over.c apitali-
zation Too Prevalent.
He Says the Recent Merger De
cision Was a Good
Thing.

Colonel w. N. Coler Of the big banking
firm Of W. N. Coler & Sons, "a Nassau
street, New York, is at the West hotel
with Mrs. Coler. They are here to att
tend the wedding of their relative. John
M. Campbell Of Huron, s. d., and Miss
Leone Pelton Of Minneapolis. Colonel
Coler Is the father Of Bird s.. Coler,
former city controller of New York and
late candidate for governor on the demo-
cratic ticket, and Of w. N. Coler. Jr., now
the active members Of the banking firm
Colonel Coler, who is a veteran Of both
the Mexican and civil wars, is one of the
old school Of New York fnanciers who
believe that. having acquired fortune,
it is mistake for man to remain in the
business harness until the traces give
way. That there would be fewer break
downs among the leaders OF the business
world II there were a more general APP
plication Of such philosophy-if success
full business men only knew when to quit
lis strikingly exempliied in the person
Of Colonel Coler. At II years OF age he
Is a hale and hearty man, who looks at
least ten years younger, with large
capacity for enjoying the good things OF
life Having decided that the pursuit OF
happiness Is the great object Of life, and,
as he says, being comfortably well
fixed" Colonel Coler derives most pleas
ure from travel. With Mrs. Coler, he has
travelled ceaselessly for several years
having turned over his business to his
sons-and in that time has visited every
country on the globe.
Colonel Coler regards the decision re-
Gently. handed down against the North
ern Securities company as the most
hopeful sign of the times, and expresses
the conviction that 1t sounds the kneu
of the era Of over capitalization, which
had reached such alarming proportions.
he
| spread evils resulting from trusts and the
great combinations Of capital" said Col
! onel Coler. "They have undoubtedly
proved detrimental to the first principles
Of the republic and the resulting imitation
| Of values by wholesale watering Of stock
has placed a mortgage on the future
| which all conservative, substantial bust
ness men must view with alarm. II the
| promoters of such combinations were con-
tent to capitalize their amalgamated
properties on their actual value, the sit
uation would not be SO bad AS 1t Is. the
| fictitious values which have been created
| by such associations of vast Interests
have already aroused the distrust Of the
| people, 1t is being evidenced to-day II
| the Discrimination of investors to handle
securities which, on their face value, have
| the appearance of being unsound, The
big slump in Northern Securities Satur-
| day was no doubt due to this very rea-
son. 1 must confess that the financia
! situation in New York, due to this very
| imitation of values, is not as encouragfns
las one could wish. A tempest is brewing
and the wise ones are preparing to avo1e
| it. Minnesota and the great northwes
are entitled to the thanks Of the countr,
for the splendid fight which they put III
against the attempted consolidation o
two great transcontinental roads. Suel
a consolidation might have been goot
thing for a few trust magnates, but !
would have been Of little benefit to thf
| part Of the country r. 80