Waterbury evening Democrat., 1907-05-15
THE ROYAL FAMILY Copper Our king---Co- bait Our Queen. COLD, SILVER, LEAD, ZINC. Waterbury Investing Thous- ands- Long Island Real
 Estate Investment AL
 so Heavy Here.
The financial Bulletin for this

A temporary luJuuCtlOu SIdnlcu by Vice Chancellor Leaning in Cam den will test the validity of the issue of stock by the Putnam, Glassboro & Clayton Gas Co and incidentally af- feet every corporation in New Jersey. The injunction was granted upon the motion of Lawyers Gaskill and Mil Ter, under the law of 1906, and it is the first action thus taken. That law was designed to prevent over capitalization by corporations chart cred in New Jersey. The gas com- pany is said to be backed by the Union Railway Go and the Franklin Trust Go of Philadelphia, both of which are made co-defendants. It is alleged that the Pitman company, with plant worth not more than $75,000 on a general estimate, has issued $150,0O0 of stock and $150.- 900 of bonds, and is widely distrib- uting circulars throughout south Jersey, inviting investment on the alleged assertion that it has fran chises in the the towns of Putnam, Vineland, Glassboro and Clayton, while it's business is really confined wholly to Glassboro. The charge is made in the bill of complaint that this claim is deceiving the people who invest and the petition asks that it be stopped at once"
 This is a step in the right direc- tion. It is understood that if the New Jersey law governing over cap- italization is upheld, that similar measures will be introduced in vari- ous other state at once. It is what this country is most in need of, to protect the conservative investor of 'sgilt edged" railroad bonds, and other so called high class securities as financiered by some of our "un- desirable ciizens" Ga la Roosevelt), |, as we'll as the irresponsible mining promoter.
 Look We'll Before You Leap.
 I cannot impress too strongly upon my readers, the value of careful con- sideration. Invest your money where you can get the greatest re- turns, for you can invest it in big dividend paying properties, and still be absolutely safe. But if you have not time to read, get reports from those whose business it is to keep in touch with and furnish reports to you.
 l have every financial paper and have correspondents in all the large cities and mining camps. I will give you a report on any property you own, or contemplate investing in freely and impartially, without cost or trouble to yourself. My office is always open and you are welcome to avail yourselves of my financial newspapers on file.
 The Wall Street Bulls and Bears, in quoting Byron W. Holt, says: "Few people ever consider how ex- tremely valuable is ready market Suppose a man has a deed to a house and lot worth s10,000 and 100 shares of stock also worth $10,000. He can sell his stock in five minutes by paying a commission of S12.5O. He will put his house in the hands Of one or more real estate men, wait several months for a customer willing to pay a fair price and will then pay a commission of from $100 to $250. The man who buys the house will pay about s100 to have the title searched and guaranteed, while the man who buys the stock will pay a commission of s12.50. In one case the barrier to exchange is S25; in the other from s200 to s350. In one case there is a quick and ready market; in the other an inferior mar ket. In case of sickness. death or other emergency the difference be- tween the barriers is far greater. If the house has to be sold in one or two days 1t may have to be sold at a sacrifice of s1,000 to s2,O0O."
 Stock Gamblers ot Mere Parasites.
 "Nor are the stock gamblers mere parasites, as Mr Carnegie calls them. It Is they who do perhaps three fourths of the buying and selling of stocks and who thus keep the market active and enable buyers and sellers for investment to make deals quickly, at market prices. Spectators in a wheat, corn, cotton, potato. wool or horse market perform a useful func- ton. They keep these markets alive and maintain relatively stable prices. They become either buyers or sellers and, by so doing, provide a ready market for those who have not time to wait for buyers or sellers of the investment type. Spectators are middlemen with more excuse for ex- istence than half of the druggists. grocers or liquor dealers that are no in business. Who but the specu- lators of Wall street could have paid Mr Carnegie s460, 1000 for a steel plant offered two years previously at SIPS, ,000? Had there been no market for the billion and a half of securities and insecurities of the steel corporation, Mir Carnegie would. in all probability, still be steel man. ufacturer instead of the worlds greatest philanthropist with well de- veloped peace propensities on the side"
 In the three winter months since January 1st. the total shipments from the Native Silver Section of Cobsr has reached nearly five million dol lars of silver ores, valued at over six million dollars. The three months just passed. owing to weather con- ditiOns. are probably the poorest that the Cobalt district will ever see. Ar other year will put the mines to depth sufficient to stall of snow and Ice. and the winter production will not fall below the summer output. Although few of the mines have run more than one-third of the time. ths Native Silver Section has carmel
 equivalent Of six per cent on a ca7i- taliEation of one hundred million dol lars. A careful estimate of the ores