The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1907-01-18
OUTSIDER HAS LITTLE
CHANCE IN WALL STREET

Can money be made in Wal street
what chance, for example, has tn,
farmer or country merchant who spec.
ulates in stocks? Or the financier O.
the city, whose passion or conceit per.
suades him to add a side line to book.
keeping, groceries, or to milk route.
asks James B. Morrow, the well known
New York interviewer.
l carried these questions into the
teeth Of the financial district and laid
them before Isaac Newton Seligman, a
banker who is known all over Europe
and wherever the money of civilization
circulates, gets into the blood, and
thence the mead and heart Of man. The
stock exchange, headquarters in Amer
lea of the hosts of avarice and adven-
ture, was just around the corner. In
the street near by brokers of the curb
with wares not yet countsnanced in
the temple. were yelling like savages
and making furious and ridiculous
signs with their fingers to other bro
kers hanging out of windows.
slender, pale, and gray bearded
man, Mr.. Seligman looks much older
than his age. He wore a black frock
coat, striped trousers. a fancy waist
coat, and lemon colored spats. All in
ALL he scarcely appeared to be the ath-
lete who rOwed in the Columbia crew
generation ago and helped in the de-
feat of Yale and Harvard on Saratoga
lake.
Since the death of his father he has
been at the head of one of the most
opulent and famous Jewish families in
the world.
HAS the man." I inquired, "whC
purposes of important spectators an
opportunity to make money in Wall
street,"
Chances Are One to Five.
There is one chance for him to win
against four or five chances for him
to lose" Mr.. Seligman answered. "A
widely celebrated stock operator, q
maker of the markets on more than
one OCCASION has said that with al
his knowledge of the intentions of his
competitors in the street, he counts
himself fortunate if he wins four times
out of seven. The lamb, as he is
called, who knows nothing and is g
beggar among kings, can figure out his
own future from that hypothesis
What advice have you for person:
of limited means who want to make {
little more than savings bank interes
on the money they put away?"
Money can't be safely invested
and pay more than 314 or per cent
Beyond that rate Of interest there il
hazard. When one has a little capita
the convertible bonds of a sound rail
road offer a fair return and conser
vative speculation. Sucn bonds can b.
exchanged for stock at fixed prize
during a certain period. When tn
stock goes above the price it can b.
accepted in lieu of the bonds and solt
at a profit"
care the shares of railroads as Sc
cure as their bonds?
Bonds are mortgages; shares ar
not. Interest on bonds must be earned
before dividends on shares can be de-
/ clared. The shareholders take VIVA
is left after the bOndnOlders are PAID
If times become bad railroad ma!
mass its dividends. 1t must meet 1T
interest charges, however, or go lnt'
the hands of a receiver. l own STOCKS
of course, but invariably invest trus
funds in first mortgage bonds Rlci
farmers in the west, l am told, ar
beginning to buy railroad securities
Real estate mortgages are good, too
hut care should be taken that tn
farm or building is not mOrtgaged be
yond it's value. 1 prefer railroad bond
because they don't require ones per
sonal attention. Mortgages DO; yo'
are compelled to watch them all I'M
time"
The Jews in New York.
"Are not the Jews making extra
ordinary Roadway in New YORK
large banking, industrial and CONNER
cial undertakings
..Thev are. Newspapers and thea
ters also have been given into theh
management The first Jews to come
here were Portuguese. They were gooe
men of business. The Germans WIG
began to arrive in 1S45, however, "er'
better. and the Portuguese wer'
crowded out. Then the Russian Jews
shrewd and able in all practical mat
ters. vanquisned the Germans. IL IL
said that Jewish names are over many
of the stores and factories OF NC"
York. True enough, and some OF the
host factories and stores at that. How
ever. it is not generally known tha
most of the names are Russian
what has made the Jew so UNI
formlv successful in business!
1.-THE animal which is the prey -
man and other animals adjusts i'se'
tn conditions and nature lends us heAp
The nheasant is as brown as the lor'
oct leaves in which it hides. the spur
70, can lump from one tree to announcer
Exc,nded from land and the mechan
Al