The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1907-01-24
Recent Occurrences of Interest
in Sweden, Norway and
Denmark.
SPIRIT OF SPECULATION RIFE
Wonderful Headway Made by Indus.
trial Manufacturing Companies
in Sweden.
SWEDEN.
Stockholm,

100000
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:
1T is not necessary to take into con-
Sideration concerns in which the de-
velopment has covered period of
years, such for instance, as the we'll
known separator company, which nan.
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 tre-
mendously. I am thinking of other af-
fairs, as for instance, the Stockholm
tramways, belonging to a private COM
pany. These were electrified two
years ago, and the shares, originally
worth perhaps 100 kronOr par value.
worth perhaps 300 kronor at this mo-
amount, are made an object for specu-
lation. 1t was pure gambling. People
worth not penny one day were rich
the next. 7 am also thinking of sew
eral such transactions that have taken
place in the last year, such as when
combine of SPECTATORS has bought
4 sawmill and large tracts Of forests
and sold them in a couple Of months
with 100000 kronor profit. I am
thinking OF the speculation that has
been going on in almost every kind Of
security, some Of which do 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
sess a stock exchange in the sense rs
1t is found in the great centers of
commerce. 10 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.
jority Of whom are not brokers, but
spectators. Boys, who have just left
school. have entered brokers' office
as Junior clerks without the slightest
knowledge Of the business. Perhaps
after two years they have been well
established brokers themselves lin
beautifully equipped offices, with ten
telephones through which they have
transacted ninc-tenths of their bust
ness, which generally has consisted of
1rr
fcnng fellows who behind counter,
in warehouse or on the road would
not have been worth their keep, have
made 100000 kronor a year through
sheer audacity. Everybody has talked
about the great fortunes made and
those who have not made them have
been enviouS and tried to initiate The
result has been that a perfect gam.
bling spirit has arisen, but luckily for
us this has taken place during a period
when real values have increased sim
UNANIMOUSLY on a sound basis The
excellent crop this year has certainly
saved us from financial scares in these
days Of dear money. Although three
months bills cannot be discounted un-
der per cent. and there is a posi-
billy of the interest going up to s per
cent, there is no visible decrease in
values and prices are keeping up"
The direction in which Il 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 Of old houses have been
pulled down and rebuilt. In this re-
spect nrottninggatan, the principal
thorouShfarc of Stockholm, has under
gone great change. House after
house has changed hands. been pulled
down and risen up again. generally
with doubled rents. In fact, rents are
now enormously high in Stockholm
and 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 Workmen with their
trade unions have so far been better
situated, in that they have been able
to enforce their demands for raised
wages, which those employed by the
state and the community have not
and the development Of industries con-
tinue in the natural course without dis
turbances. then, Of course. everything
will find its level. Sweden is adj
Vanclng Enthusiastically in a remarkab BILE
degree. but Il speedy and thorough
solution Of the franchise question
would undoubtedly contribute much to
this.
The duchess of Dalarne. celebrated
her 10th birthday Dec. 81. She re-
Ceivec many congratulation from
hnrh at home and abroad and received
HeputatioD from Dalarne, which pre-
s"nted her with a beautiful oil paint.
ing by Schultzberg. The duchess pre-
sented op this day sum Of 1900
crowrs to the directors Ct the Haga-
T., IS labor fund.
Professor MoisSan, one of the Nobel
nrIze winners wba has irct ra+,,rro6