Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1907-01-26
Recent Occurrences of interest
in Sweden, Norway and
Denmark.
jPIRIT OF SPECULATION RIFE
Wonderful Headway Made by Indus.
trial Manufacturing Companies
in Sweden.
SWEDEN.
Stockholm.


ufacturing companies of Sweden are
making wonderful Roadway of late
years and the spirit of speculation is
rife. Says Hugo Vallentin, the Stock
holm correspondent, regarding the
tendency and the brokerage system:
''It is not necessary to take into con-
sideration concerns in which the de-
velopment has covered a period Of
years, such for instance, IS the we'll
known separator company, which man,
ufactures the world-famed milk and
cream separators and whose shares Of
1000 kronOr par valne are worth fifty
times that amount; nor the Ericsson
Telephone company. which sells tele-
phones all over the world and whose
shares have by degrees gone up ire
mendonsy. ! am thinking of other af-
fairs, as for instance, the Stockholm
tramways, belonging to private com
pany. These We're electrified two
years ago, and the shares, originally
worth perhaps 100 kronor par value.
worth perhaps 800 kronor at this mo-
mrnt or perhaps twenty times this
amount, are made an object for specu-
lation. 1t was pure gambling People
worth not a penny one day were rich
the next. I am also thinking of sew
eral such transa ctons that have taken
place in the last year, such as when
a combine of spectators has bought
n sawmill and large tracts Of forests
and sold them in a couple of months
with 2.OO0,OO0 kronor profit. 7 am
thinking of the speculation that has
been going OH in almost every kind of
security, some of which 10 not de-
serve that name. and in which not
only business men. but everybody has
taken part without any other inten-
ton than making money as quickly as
possible and in as great an amount
as possible Stockholm does not pos
Spss a stock exchange in the sense as
it is found in the great centerS Of
commerce. TO be sure, a stock eX-
change exists. but very little business
is transacted there. The business real
ly is done by outside brokers. the ma.
iority Of whom are not brokers, but
Spocuat0rs Boys who have Just left
school, have entered a brokers' office
as junior clerks without the slightest
knowledge of the business. Perhaps
after two years they have been we'll
established brokers themselves in
beautifully equipped offices. with ten
telephones through which they have
transacted nine-tenthS Of their bust
ness, which generally has consisted of
spreading as many rumors as possible
Young fellows who behind a counter
i'm warehouse or on the road would
not have been worth their keep. have
made 100000 kronor a year through
sheer andacity. Every body has talked
about the great fortunes made and
those who have not made them have
been enHSouS and tried to initiate, The
bling spirit has arisen, hut luckily for
MS this has taken place during period
when real values have increased sim
nltanROuSly aD q sound basis. The
excellent crop this year has certainly
saved us frOgsg financial scareS in these
days of dear money Although three
months bills cannot be discounted IN
der I per cent. arHf there Is posi-
hility Of the Interest going ITO to = per
cent. there is no visible decrease in
values and prices are keeping up"
The direction IN which q great deal
of speculation has been going on in
house property IN Stockholm recently
is remarkable. This year houses have
been changing hands constantly A
great number af old houses nave been
pulled down and rebuilt Ian this re
spect f,rottnmggatan. the principal
thoroughfare Of Stockholm, has under
gone greaF change. House after
house has changed hands, been pulled
down and risen up again generally
with deubled rents. In fact. rents are
now enormously high ia Stockholm
AMI the cost of living generally is very
high. This means really great hard
ships for all those who have to exist
on salaries, which have not risen in
comparison. The workmea with their
trade nnfons have so far been better
sitnared. i'll ftat they have been able
to enforce their demands for raised
wages which those employed by the
state and the community have not
been able 10 do. If the good times
and the Development of Industries con
time in the natural course without dis
turbances then. of course, everything
will find its level Sweden is adj
vancing enthusiastically in remarkable
degree. but Il speedy and thorough
solution OF the franchise question
would undoubtedly Contribute much ii,
this
| he duchess of Dalarnes celebrated
her 10th birthday Dec p She re-
ceiVed many congratulations from
beth AT home and abroad and received
a depntation from Daisfne which pre-
senied her with beautiful oil paint
ing by Schultaberg The duchess pre-
sented on this day sum of 1000
crowns TO the directors Of the Haga-
lund's labor fund.