The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-11
special to The Journal.

Special to The Journal. ss,.
New York, Feb. 1.-THE great fortunes in this
country have been made by opimists. For exam
pie, take Daniel Drew and Commodore Vanderbilt.
Old "Uncle' Drew the greatest bear that
ever came to Wall street, and one of the greatest
spectators Commodore Vanderbilt was as great
a bull as Drew was bear. At one time Drew
had as large, II not larger fortune than Van
derbilt. When Drew died he was penniless, Whlle
Vanderbilt was worth $75,000,G50 at the time OF
his death. Jays Gould railroad wrecker
and succeeded in making fortune. During the
last ten years. however, George J. Gould has
mare more money out Of building up his proper
ties than Jay Gould did during his entire lie.
Addison Cammack was Of the greatest bears
that ever appeared in Wall street. When he died
he was far from being very wealthy man. j.
P. Morgan Is the grea test optimist In the coun-
the future Of the country, and IS today worth
$3.50, 600, 900. James r. Keene is one of the
greatest spectators the world has ever seen,
and has made most Of his money on the bear
side Of the market. Yet Keene has failed sew
eral times, and he is far from possessing the
wealth Of large number of fnanciers in Wall
street. Evidently 1t pays to believe In the
country. Still it is true that the colossal for
tunes of William Rockefeller, Fl. H Rogers and
others were mostly gained thru stock depres.
sions. which, it has been said, were engineered
John W. Gates is again in town and active
in the market on the bull side. When his atten-
ton was drawn to the open selling of the Harri-
man stocks and Atchison by a large banking in
terest he said II don't care who Is selling,
| am buying them because they are going up
Gates is now figuring prominently in the Realty
| stocks. ---.-
Buyers Seek Bonds.
Investors are placing their money in bonds
which at present prices more attractive than
the greater number of high-grade stocks. Bond
brokers report heavy demand for all 1rst-class
issues, and the different houses in the street are
| literally scrambling over another to secure
| the handling of the offerings of various rail
roads which contemplate issuing new-mortgage
securities There is, therefore, no doubt regard
ing the success Of the Forthcoming Atchison bond
issue that of the Pennsylvania. and for thai
matter OF about any old road in the country that
intends to increase its bonded debt. Last Friday
Loeb & Co. disposed Of $50, O0O, 900 Southern Pa
cifc refundtng bonds and the demand was sc
heavy that they could have sold twice thai
amount the same day, the inquiry coming from
Individual investors banking houses and corpora
tons. 1t was the most remarkable bond success
ever reported in Wall street, and 1t ought to sat
isfy everybody that there is an enormous amour
of capital seeking Investment.
| Bonds are not, as rule, selling at a higl
level. The market offers many of the best issue
| chat at current prices return over per cent
but the same cannot be said of the greater mum
Der of stocks.
Young Vanderbilt Wins.
1t is said that Cornelius Vanderbilt, who wa
like s., 900, 900 in the stock market during tn
last three years. Most of this sum was mad
out of marlborough Rapid Transit. Young Cor
nelius Vanderbilt was one Of the few capitalist
who believed in the subway as an investment
and he was one Of the heavie~t subscribers t
both the construction and the operating company
As q result of the advance In PETERBOROUGH t
above 200 he has considerably more than double
the amount he invested. Next to August Bel
mont the heaviest profits have been made b.
Cornelius Vanderbilt. It is said that Vanderbilt
also made large out Of the advance 1
Manhattan previous to the absorption of tn
company by the marlborough Rapid Transit.
l. s.. s. Schroff.
OMAHA LIVESTOCK, Feb. 11.ACattle-R,
1ceipts. 400; market unchanged; native steer
S$;4o@5:;sso;;s eo y and heifers' $2'75@41t
Hogs-Receipts, 5000; market steady; 1igh
4s5@4 4 &c; pigs, ss.75@4'4o; bulk Of sale
sheep-Receipts, 1000; market steady. wetl
KANSAS CITY LIVESTOCK Feb. 11.-catt
Receipts, 600; market unchanged; nati7
steers, S3:75@5eo; COWS and heifers $1.75t
Hogs-Receipts. 1000; steady to SO highe
bulk of sales, $4.s5@5.05; pigs and lights, ST.
shsep-;Receipts, 1000: steady; muttons, ST.
@6.65; lambs $6.50@7.75.
ST. LOUIS LIVESTOCK, Feb. 11-cattle.
Receipts, 1000; steady to strong; beef steer
So. @5.e5: cows and heifers $2.1O@S So
Hogs-Recelpts. 1000; steady; pigs d light
S3:60@4.6O; butchers and best heavy, $4.95
sos.
. sheep-Receiptss 800; steady; natives, 81