New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-05-20
CENSUS OF SECURITIES.
Bureau to ascertain Real VaLue of
Stocks and Bonds.
TFRoM THE TRIBUNE BUREAU

Washington. May ls.-The Census Bureau is com
pilng a report on the value Of stocks and bonds
OF Incorporated companies, but Director North ex
planned to-day that this viii not take the shape
Of an inquiry into Individual holdings.
We have many difficulties placed In way"
said he, when compiling census returns. There
estimable women who still believe that the
Census Bureau IS a wicked institution. organized
solely for the purposes OF ascertaining their
Now statement has gone abroad that we are
going TO ascertain the value OF stocks and bonds
held By the people. That will make every miser
with strongbox believe that coming
around TO pry IL open and ascertain how much
property he has. He then will add his curses upon
the Census Bureau We have never contemplated
any action OF that kind. and do not contemplate
any such action now"
Dr.. North added that the work OF gathering
statistics such have been gathered IN Euro
pean countries forms part OF the information
required by Congress regarding the wealth of the
country. This feature of the compilation was sug
gested by Charles A. Conant, formerly OF Wash
ington. now treasurer Of the Morton Trust Com
pany. Of New-YOrk. and Mr.. Conant is supervis-
ing it,
NO figures have ever been collected here" con-
unued DR.. North. ito show the value Of negotiable
securities. But it that statistics the sub
ject available from several sources. The stock
exchanges throughout the country keep public
records of the securities dealt in by them. One
ascertain there the par value of those properties;
also the market value There also public records
of curb transactions in stocks that not listed.
We are trying to secure those figures in the differ
ent cities. Figures regarding the stocks of national
banks can be had from the Controller of the Cur
rency, and
We already have the statistics affecting street
railways. gas and electric lighting plants for the
cities OF the country Those statistics will supple
ment the statistics seeking After
have ascertained the par value of the negotiable
securities OF the United States will attempt
md out what their market value IS both OF course,
In the aggregate The information. I believe, will
be OF economic value, Then shall try to est
mate how Tar this market value of securities is
duplicated in other figures OF the wealth OF the
country The stocks and bonds Of a railroad, for
instance are represented of course, in property
IKE the roadoed and rolling stock. But in many
corporations there is another large element of
wealth, such goodwill, for instance. We shall
try 10 get statistics showing all that.
AS VIII be readily seen, mono of these things IN
VolVes prying into strong boxes. We not con-
cerned at all about the individual holdings OF these
STOCKS and bonds, and shall not go the holders,
Tor the public records afford the information
The matter appealed to me- as a statician very
strongly said DIR. North. IT knew that such a
census OF negotiable securities had been recon-
rended by the International Statistical Associa-
tlon, and that II had been undertaken by
european countries. Then Mr.. Conant, during
OF his visits TO Washington. proposed the census
as one quite within the field OF this bureau. He
expressed the opinion that such census would be
OF much value. agreed with him. The matter
was placed before Secretary Corteyou, who also
were disposed 10 undertake such census. provided
he would assume charge of it. To this he dis
sented. but finally arrangements made by
which he agreed to exercise supervision