The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-12-11
E1enrv .CIeWs. the Veteran Financier; Talks Y

wild, and the stocks they bought 4 SO
chea ply are soaring Then they selFand
hold their money for another fan. I have
seen these old fellows doing; that for
years They work upon the principle OF
buying things when 4 hey are cheap and
issclling when they are dear. That is the
basis; of success here us IN all other bust
/ ncSses. IFS III is.;, 3 n Ii
Farmers as Spectators. Il
a"Wiicre do the men who deal III Wall
| Street come from o. s@
IF sou mean those who buy and sell
stocks. they are of every rank, class and
fortune. They come from all over the
country, get orders from every, State
1ofthc Union. There are many small in
avestcr5 and many large ones. Almost
every one who Is making money deals
more or less in stocks. Just now IT Is
|sthc farmers who arc he most numerous
|sof3our investors. They have had a series
lsof good crops, and have money to buy
sccurities.."8 4. s3Sss 5'
f. How Trusts Affect the Street.
l But is not the market largely con-
|strolled by the trusts. the muAl-mlllon-
l1ares and the enormous combinations Of
cap!tal?s''i- "a sS I'D
ITO some extent, yes, but that is all
the better forhthe conservative small In
weston. Combinations OF capital. will not
permit the panics and sacrifices thai
were once common. 1.-THE null t-mll!on-
aires see any danger ofsthe countrS boz
ling Financially hurt they support the
Bmarket and avert Il panic. Z, s.s rs
Are sucl, denominations a. good thing
|5ror5tlc Wall Street brokers ~ 4 n! Il
III don't know about that" said Mr.
sClcWs. ,.'Take any number OF proper
K ties. say ten and sllpposeii they consoll-t
date into a trust, X InNthe first case VIC
might have orders to sell five thousand
shares of each security, tN Ne could han
die that number without, disturbing the
market, and thus make our profit off Of.
the sale GRITTY thousand shares. When.
tho properties are combined sucisn sale
would have to be- for fifty thousand
shares OF nne stock. which would disturb
+ HE market IN all proba bilily.3gIn that
respect the combinations are not good
4 for tho brokers, s's n sss il II yf4
LAS to the other matters however,
trusts ana combinations OF capital have
great advantages p, hey enable i he carr
4ryng out Of greati3entcrprises. Were 1T
not for them this country would no II be-
now grid!roned withIraIlrpads. II is min
teral wealth would DO lying sundeyeloped,
and We should be paying much more far
the & staple articles of lifo, with. less
money to3buy them, Indeed, doubt III
We would have 100000 inhabitants had
1t not been for such comblnatlons, "g h
Rich Men a Good Thing,
''rhen you think trusts and rich men
are good for the country" said
as TO how the rlcn man uses his money
II he Is q msnr and boards y In! his
safe he is a lcurse, II he keeps 1t moving
he Is " blessing. do%not look upon a
man who keeps Ills money III circulation
as a. miser ItSls8only, the ono who piles
slt;up8in his strong box, and hugs u 1t to.
las been Called a miser hut lie IS. 7 on t Tia
contrary. one of the mos valuable mon
OF this city, lie has anlassed millions,
but his millions are all working. They
fern an Important part o { the life blood
or the lnlal ket and they flow out from
here III ouch the Veins Of ouy great in-7