New-York tribune., 1907-09-16
Financial.

There have awful dotngs in the stock rnarhe
during the past few weeks.
Papers have printed of lowering of prices anu
the melting away they printed other
news of day. overpowerng fact in the case HAS
not been especially emphasized and yet it is true that the
biggest piece Of news since great battles of the Clv
War been made the floor of our great Stock En-
changes within month.
have not before me the figures. To marshal
them all and total would be tremendous
task and appalling to every man and
woman before whom they spread.
I remember several years listening with intense
enraptured the eloquence of great American
orator as he pointed in this the greatest
Republic from 1860 to 1880 period of twenty
years in spite of the waste spite of all the
erty destroyed by 6ame-n spite of all the wase-our
profits as nation were billion hundred seventy
four dollars. And tie great orator pointed out
these he appauded to the echo
Furthermore, lie that from 1880 to 1890
period years profits two billion one hun
dred thirty-nne million dollars. The nations of the
world he proudly declared. Egypt India, Greece Rome
every one of them compared great Republic
be regarded as paupers.
very yet today with the country far
than in its history with peace and
plenty and abundant and underworld market for
all products, to face with a which
stop consider appall every
citizen.
What the exact figures do not pretend 10 know,
deny that during the past eight
months corporation securities dealt great Stock
Exchanges have lost in valuen eight months onymore
than ta boast of the nation for Of
twenty years 1860 1ssomore the earnings
the nation from 1880 to 1890 period of ten years
During the past eight months the securities of
corporation alone have shrunk value
entyfve million dollars. The securities of four Of the
smaller copper companies-the shares fellows
a convenient football the Boston Exchange
have hundred and twenty-five million
dollars
market of of the great Calumet &
Mining Company, without question the
per mining property in North America and possibly the
greatest with exception Tinto.
have shrunk during past eight months thirty
five million dollars.
Amalgamated Copper shows decline of approximately
eighty-four million dollars
Among the railroad securities, Union Pacific may now
be bought approximately S75 less than the price paid
by six and eight months New York
Central Is selling $50 less than
for it by investors early in the year.
Just what total would figure out II the losses
down against all the securities dealt in
on the floor great exchanges Of the country
not prepared state yet
me-wh figures mounting into millions of dollars
this stock and that am the total would reach
something like five billion dollars.
The ordinary mind comprehend the meaning
stupendous figures like these Take thousand dollars
and then take nine hundred nineynne thousand
thousand piles of thousand each. That makes
only one million million only represents
thousandth of billion yet the figures justify the
Sites of shrinkage in values of corporation
securities Stock Exchanges have suffered
loss to the extent of five billion dollars!
Think of that and what means! Think Of the labor
the millions of and the days and the
weeks months required to plant and harvest crop
worth FIVE billion dollars Think OF the fgures
In 1860 all the people of the United States used only
eight hundred million dollars worth of products
things manufactured grown All the people of the
United expended things
onehaf the money lost by the investors of this country
through the bughtng effect and influence of Stock
Exchanges during the past eight months
late 1893 all the people of the United States
expended for clothing things manufactured
and grown only three billion eghty-nine dollars