The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1907-12-27
The Public Buys In,


The Public Buys In,
From time to time, as the corpora
tions make public their sentiments,
the effect of the wave of public buy
ing of securities in a small way be-
comes more evident. Last March,
when the first big decline in the stock
market came on, Investment buying
of small lots became a feature. In
the fall when further declines fol-
lowed the public came in again. Such
buying is still on, the lighter now,
because to a great extent the money
that would go from persons OF mod
crate means into such investments
has been placed, and bank restric-
lions relative to cash Withdrawals al
so have an effect. Meanwhile a great
many thousands of individuals that
never before owned a share of rail
road or industrial stock have bought.
While it is impossible as yet to
make a complete estimate of the in
crease in the number of corporation
stockholders. it is interesting to note
that in the case of the Northern Pa
ciflc the names on the books have
gone up by 1875 per cent since Janu-
airy | last, the total increasing from
1000 to 5000. This is the record
gain so far as known.
Baltimore & Ohio, Chesapeake &
Ohio, Chicago, Milwaukee & st. Paul,
Erie, New York Central, Pennsyl-
vania and Reading made increases
ranging from 20 to 80 per cent. New
York Central was owned by 10000
persons on January 1, 1907; and jan
uary 1, 1908, will find its shares
lodged with $4,000 holders, II the
full figures Of the increase in the
EtockhGlders of the various other
railroads, the street railways. electric
light, telephone and particularly the
lbig industrial companies could be OBJ
tained, it would be found that there
has been an amazingly wide distribut-
ing Of holdings-not on a rising mar
ket ready to collapse, but on a de-
cline that made dividend-paying
stocks bargains.
All this shows that while the pub
lie generally has been concerned with
and greatly disturbed over the ir-
Irregularities in finance and the various
ether influences that have entered in
to the depression. 1t has confidence
in the basic stability of the country,
lin a return to better conditions, and
in the power Of honestly managed
properties to hold their own in earn
ings and make increases from time
to time az the country grows.-Min-
neapolis Journal. 4.
The decline in farm values in New
York was considered at a convention
In Syracuse recently. The Chamber
of Commerce, which called the con-
vention, is Convinced that the con
timed prosperity ofltse cities of cen
trial New York depends On a revival
of farming. There has been a con-
ltinual decrease in the value Of east
ern farming land since 1880. It was
notable in all New England, in New
York, New Jersey, Pennsylvania and
IOhio until 1890, while the value Of
farms in the rest OF the country In
creased. From 1890 to 1900 the de-
crease In value In the New England
states, except Maine. ceased, and 9
turn upward began. This was due
to the efforts Of philosophical men
to awaken interest In the possibili-
ties Of agriculture. as we'll as due to
the purchase for summer homes OF
many abandoned farms. Although
the average value OF the farms and
their improvements Is not s great
today as In 1860, the&generai farm-
Ing situation issAtisf1ctory,TSsaye In
the east. Thespresentscents o. farm
values Is near Springfield, ~. Should
the eastern farms be Testoredsto any-
thlng like their old Worth thatscenteri
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