Bisbee daily review., 1907-12-07

that the public at large understands the situation; that 1t has perfect con fidence in the prosperity of the coun- try; that it is ignoring the causes of low prices and taking advantage or them to make wise and permanent in. vestment."
 What MT. Perkins says is confirmed at the transfer office of every railroad and industrial company. The transfer officers say that their clerks are over whelmed with work and some of them are kept regularly until midnight making out certificates for small amounts. It takes just as long to fill out a certificate Tor two shares of stock as for 2,000 shares and the name and address of every holder must be recorded in thes transfer books.
 At the Pennsylvania Railroad trans fer office, 12S Broadway, they tell that they have an extra force of twelve clerks making out certificates of stock Tor new buyers and that tle certificates will average ten shares each. The number of stockholders in tuS T Ahd1iet NOlLpdAy 10 ldA than those of any other corporation and has stood at about 52,000 for sev- eral years. Within the last few weeks this total has been advanced to more than 60,000, and, although no statis- tics have been kept, it is the opinion of the officials that 30,000 of thuse stockholders hold an average ot ten shares each. Nearly all of the new certificates are for 100 shares or less. Last year at this time Pennsylvania stock was quoted at $40. The other day it was down as low as S106 and those who are buying now will get the equivalent of per cent for a per cent stock.
 Alexander Miller, secretary Of Jne Southern and Union Pacific railroads, tells a similar story. He has been smpelled to employ extra clerks to make out the new certificates anu they are working overtime. Most of the certificates, he says, are for twen- ty, fifty and one hundred shares, but they have made out several for one. two and five shares each, while a large number are for ten shares.
 James L. Carter, who has charge of the transfer department of J. P. Nor. gan & Co, says: While the average number of shares represented by the new certificates varies from twenty to fifty on the different railroads, We have issued a great many for three and five, and still more for ten shares As you know, every shareholder is re quired to furnish an address to wnicn his dividend checks may be sent. In that way we learn where the new stock is going, and the great majority of the buyers live in villages anu small towns throughout the country. " Vice President Nichols ot the Great Northern Railway says that the trans. fer department of that company is swamped with work, and is now near. l ly two weeks behind in issuing cer. tificates and in sending out blanks for the addresses of the new stock 1 holders. He says that the number oi shareholders in the Great Northern Railway is likely to be doubled by the present purchases. The same is true of the Northern Pacific. The Great Northern company owns a GVn trolling interest in that road, so that the total number of names upon ths stock books is much smaller thar those Of other roads, but recently is sued certificates have been split uI so much that the number has more than doubled within the last sil weeks.