The Birmingham age-herald., 1907-07-28
Ohite Goods Remnants

60 These old danes wore more jewelry than Tiffany carries on an average date. The male consorts of these wealthy danes foregather afternoons and evenings and discuss Wall street. They are Tn constant communication with the market although really above and beyond the pale of speculation. man just back from there epltomzed the informatloi: he acquired in this brief paragraph.
 Every ybody at the hotel was in re- ceipt of daily mail from Wall street or from some banking friend or advisor The gist of the correspondence seemed 10 be |, that the country is going right ahead prospering and earning money for security holders. Among other things l learned was that all the Hartman railroads are prospering beyond anything that could be conceived of, that Union Pacific was t1 be maintained on a 10 per cent basis, and that Southern Pacific was to be put on d 6 per cent basis this year and per cent next year. The talk about New York Central was not so rosy. It apepared from the information collected at the big hotel that the management was incompe- tent, and that the property would have to be run by the Public Utilities commits sion. It was represented 10 this collection of retired millionaires that there was 1o- body connected with the management big enough to carry through the grand scheme of Improvements mapped out for Greater New York and that everything was a 6s and Is in that particular
 As for the Steel trust issues the adyices were exceedingly opptimistic. Steel com mon was 10 be put on a 3 per cent basis at the next meeting of the directors q few days hence, and in December was to be raised to per cent. The tip was that within year Steel common would be Cg.t nptH Ha would be a bargain at 115 Not n word was said about the possibilities of tight money or business depression. These old dreamers who had made their money and were living on their incomes existed Tn a world by themselves. feeling serenely confident of the permaneY of good times and of the utter impossibilty of change for the worse They were living ip d state of perfect happiness.
 There Is one stock which is free from the vicissitudes of ordinary business con ditons. This is smelters. The Guggen- helm industrial will prosper regardless 9r whether times are hard or times are good. In fact, it should do better in periods of depression than at any other time. It is engaged in the extraction of precious metals from the ore It buys the ore on an ascertained value and sells the out put making very liberal allowance Tor expenses and profit When everything IS dull the mining of gold and the other high class metals will keep right on. Shelters has a cinch. It is paying per cent and earning 20 per cent besides having im- mensely valuable interests in all sorts of side issues which are carried on it's books at merely nominal valuation, Shelters is the one industrial which at current dividend rates and with its known capacity ought to be regarded as the cheapest thing on the list.
 The lawyers employed by MT. "Jim' IIul to find a way to distribute the ac- cumulated Burlington surplus of A00O0,9o0 to $50 900 coo have gone up against snag. Apparently they do not see how this can he done without taking mp, or in some way refunding the s200000000 in per cent Burlington bonds which are indors ed by Great Northern and Northern Pacific Any distribution of the accumulated slaf- plus might strike some quarrelsome bond- holder as ground for objection on the theory that the security was in danger