The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1906-01-30
PROSPERITY IS GENERAL
Receivers From Back set
Caused by Quarantine

AAANAh ntAN0 AOA lAnAhANh NAAM0As al
adoxical as this may seem It is true to
the last degree. Many unthinklng
Orleanians display tho spirit of their
forefathers when they look about
them. cay MY but we are on a boom,
yes!" and let It go at that Observant
visitors read the papers and marvel
that investment values should enhance
rapidly enough to bewilder the mind.
Within year the real estate valuation
Of New Orleans has very nearly
doubled, not on paper, but in actual
cash efrect. Bank stocks are in ex-
tYaordinary demand. In fact every
class OF local securities are in good
demand at values which n short while
ago would have been regarded as inn
possible. So heavy has become the
selling price OF shares IN New Orleans
Stock Exchange has advanced from
$3.50 to $4,000 These conditions oh
tain In proportionate degree through
out the territory OF Louisiana, Miss
issippi, Alabama and Texas tributary
to New Orleans.
The real reasons for this so-called
boom which neither guarantees nor
the tieiig up of cotton has checked
are these
l. All values nave been too low.
2. General prosperity throughout
the south.
3. Increasing earnings of southern
enterprises.
l. Immensely Increased demand for
building lots in both the business and
residence portions OF the city, the re-
suit OF the ability of the people to
invest more money, and the influx of
Ta'ople from other states and cities.
5. The growing business of the port.
The coming of new railroads and steam
ship lines. and the Immense prospec-
tive results expected to follow the
Opening OF the Panama Canal.
In the abstract these are the con
ditions that every day are making ueal
rich In New Orleans.
In the concrete many interesting
illustrations may be cited
A few weeks ago Ex-Postmxster
Frank A. Daniels-Cleveland' second
administration a few friends or.
ganized the Cosmopolitan Bank and
Trust Company and before one quarter
Of the capital stock had ben subscribed
tor and before the banks charter had
become effective the first years divi-
dend had been made. Were this an
isolated case ii would have caused
widespread comment But being one
among many It has passed unnoticed
The organizers OF the bank merely
acquired certain property ON which to
erect a bank building and values in
that neighborhood Immediately ad.
vanced,, enhancing the value OF the
property held by the bank. Mr. Daniels
receiving several cash offers, the least
OF which was a third greater than the
cost OF the property. This bank will
have a capital stock Of half mil
lion dollars with shares at $40 pa
value plus s. for surplus. Most OF
the stock has been taken, and where
ever practical the subscriber L. obli-
gated TO become a depOsitur Mr..
Daniels reports subscriptions ayerag-
ing l,200 shares a day are reaching
him. The experience OF the Cosmo-
politan is in no way dissimilar TO that
OF a number OF other banks recently
organized and now in fourishing con
ditim and whose stock is selling way
above par value. What Is true or the
bank rs true Of other financial and
commercial enterprises.
Recently Secretary Fred Muller Of
the New Orleans board OF trade re
signed high salaried position TO or
ganize a big commission company aud
dozens q other successful young bust
ness men have done the same thing,
there being no difficulty whatever en-
countered IN selling the stock OF such
enterprises at mar or above
A short while ago the d. II. Holmes
department store was sold TO a local
syndicate for 100000 cash. The
Hibernian Bank and Trust company
nnanced the deal alone and cleaned up
100000 profit in a few days Shortly
thereafter another department store
was sold to another syndicate and the
scope Of its operations immensely
Nov comes the announce
ment that several big Canal street re-
taiIers have combined their interests,
formed company with a million or
more capital and will become active
competitors With the other two big
concerns
0np year aso The Times.D Democrat
purchased square Of ground on Camp