The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-08-27
Il Am amateur, .
Says FL Gould,
OF Wall Street
Strikes at President for
Starting Excite
ment.
Declares Roosevelt IS
Trying to Stop Big
Snowfall.

NEW YORK, Aug. IA remarkable
interview is printed here today with
Frank J. Gould under a Paris date line
Il fooled myself with the idea that l
knew something about the stock market
and financial securities in America until
a few weeks ago. Now I have changed
my mind. ] guess ] am an amateur
Mr.. Gould is quoted as saying.
do You think the financial trouble in
America Is due TO overcapitalization of
industries or to watering OF stocks2' he
was asked.
Look here" he replied, ''the Gould
family are not spectators. We are in
vestors. We don't care what stocks we
happen to control are at so long as we
know they have value
Dollar Worth a Dollar.
'sThev may pay dividends or may not.
but If they have value It makes no diff
ference to us what their rating is A
gold dollar is always a gold dollar,
whether it sells for so cents or 40 cents
II Is always worth a dollar That's the
way we look at our holdings.
'.As 10 overcap capitalization, I know II
has been done in several cases. but do
not think the present excitement in Wall
Street can be laid at that door.
.At whose. than?" was asked.
ssNo not at Mr.. Roosevelts. he
started a small SNOWFALL rattling down
the mountainside, and now II IS so Dis
II is doing damage and engulfing people.
Tbe. President is, think. doing his pest
10 try to stop il. but he can no more NOR
stop IL than he can stop the toe. me
onsweep is too big for any one Iiiaa 20
bic would have been stopped long ago.
Public Controls Situation.
ssNyo man no combination of men. can
control the financial situation IN Amer
sca today. Only the public can do thaL
Investors need not fear panic - a
loss of their savings me reeS'ioA -
hsdF'y s.4F ne r coHId oniv have war with Japan
eight now II would not be such a pelu
Thing as it seems on its face
How SOP was asked. +.t,s
seWelI, for one thing, IL WouIu vI1.II SS.,rI
F7oosevelt's attention away rom " aii
Sfresr and direct II in a new Inc.
'.IIe is one of those persons VINO Ilus'
be busy at something. .big
after all, the real cause ,,t-a. on -
+ronbla are the railroads themselves.
TSsv tried TO hog 1t ell. 10 use a sians
expression Had the railroads Desh DuI
more conservative in their methoos lhls
sensational undertaking Woulo not nave
',To be sure. this financial trouble has
only hurt men who could AFFORD 10 be
hurt. The little fellows got out lasi
spring.
More Money Needed.
'eyVbat Is really needed is more money
There is not enough in the world to
conduct the worlds business. Outslde
Of beinr ar. asset to pay hotel bills Win
money Is purely 8 commercial common
itv. the life of trade or commerce, OF
whatever You may please 10 call IL
s'The real estate boom IN America Is
largely responsible for the taking away
OF 50 much ready money that CONNER
CiaI operations have been embarrassed
when a man buys real estate he doesn' {
mt money in circulation; he only digs
: hole In the ground and buries his
money like a pirate on the Spanish Main
''This viii right itself, however. Com
uercial activity may be alone depressed,
and I hone IL Is. but values of stocks
will reassert themselves. This IS, OF
course, provided the Government does
not stir Ip any more mud puddles. II IS
really too bad the American people are
80 busy making money that they pay
little or no attention 10 politics. If they
ala I have an idea We would all be
happier"