, 1907-10-30
HARTMAN TALKS
ON SITUATION
SAYS PEOPLE WILL WONDER WHY
THEY DID NOT PAWN THEIR
WATCHES AND BUY STOCK
Thinks the Storm Has Cleared and
That Conditions Will Settle Down
to the Real Basis of Producing
Properties-ln the Past Hope Has
Been capitalized-sanity Now.

New York, Oct. 3O.-"We have pass
ed through a trying time. We hav,
seen the stucco front of character fax.
away and disappear. We have seel
false structures crumble. 1t has beer
a great illumination and the lesson i!
that the sturdy methods OF the fore
fathers are the best; the pursuit o
'isms' chimerical. 1t is a bitter lesson
and my heart goes out to those whit
have suffered, but good will come of II
all" d. H. Hartman, seated in tht
little cubbyhole he calls an Office in
one corne of the maze of rooms utiliz
ed by the Union Pacific and allied lines
in the Equitable building, thus spoke
of the crisis which Wall street had
just passed through.
torn Has Cleared.
* think the storm has cleared" he
added. Il have e e many of them
Recovery is a matter of conjecture, 50
far as time is concerned but it always
works out eventually. | think the time
is not far distant when we shall look
back on this present stormy session,
consider the price of giit-edged securi'
ties and then wonder why we did nol
PAWN our watches and chains and buy
stocks.
Money Coming In.
The worse is over. | have just been
talking with the president of the Unit.
ed Metals Selling company-he is II
I-e neXt room now. He tells me that
he-or rather his company-will re-
ceive within the nex month over $10,-
100000 in money. secured by the sale
of copper abroad. That is going into
circulation and will help.
Have Returned to Sanity.
The copper market here is dead
temporarily. 1t is a good thing, how
ever. We have see too much wildcat
speculation in the past. Wherever
copper was-or was expected to be
mines have been started and capital
lied and securities sold. Now we will
get down to the real basis of produc.
ing properties where copper a be
taken out at a profit. In the past
hope has been capitalized. Now we
will have a return to sanity~and none
but proved worth will be tolerated.
Believes in Future.
81 am" said Mr.. Hartman, "a patri.
otto believer in the future of this coun.
Try, but at the same time I'm keenly
aware OF our follies. You may recall
that in talking with you at the Metro,
politan club some months ago l said
we had been going too fast, n that a
day of retrenchment must come. II
has come and in its wake has como
wreckago and disaster, but it had to
come.
True of Politics and Society.
II think that the people will see that
what is true of finance is true of poll
tics and society. They have too long
followed the banner of any self-appoint
ed Moses that has come to show them
out of the wilderness. They have had
the great get-ricifquick bacillus, and
this has led 10 all kinds of chimerical
and fraudulent schemes. They have
found the same kind of leaders in poll
tics-not men who had the real inter
est of the public at heart, but charla
tans who, for self-aggrandizement,
have been undermining business condi,
tons.
Roast Beef and Milk.
we have had monkey dinners and
the idle and foolish vaporings and routs
of society. Indeed, it is a time for less
champagne and ruffles and more roast
beef and milk"