The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-02
BAMBERGER TAKES TO WATER
SELLING STOCK ~ 4 SIGHTSEEING
ROtT AND 4 WATER EMPRESS.


Etrtl NbWf HVVht ~ sFN'H
7 Bamberger. the ~ Broadway philan-
,hropist, promoter, mining prospector ana
engineer. who is better known AZ the whole-
ale agent Of any kind of mining stock that
tho investigating public will bite on, IN not
satisfied with handing out what he says
p - per cent. dividends on the Electric
Theatres Company. He has evolved the
New York Steamboat Company. which for
its beautiful appearance on paper must be
accounted the star millionaire maker OF
the whole Bamberger system of wealth
producers. .
Last fall, lust after Bamberger announced
that he had pulled out of the firm of o.. +.
Jonasson A CO., where he modestly de-
clared that he made over s. 900 900 profits
for the firms customers. and after he had
laid in an assortment Of near mines that
~ one had ever hea rd Of before, he an
nounced in his daily market letters that
M man ought to make a monkey Of himself
nv fooling with Industrial stocks, because
thew were too risky. Buy my mining stock.
he aid. and get in on a good thing.
Everybody knows that the last winter
has been exceedingly frosty for mining
.tocks that couldn't stand sudden changes
NJ temperature and it il a sad fact that there
hasn't been any more steam heat at ~
Broadway than in any other building on
the outskirts Of Wall Street that welcomes
the pedlers Of sure thing mining stocks.
II wasn't surprising then that along with
the flowers OF spring came the Electric
Theatres Company. which Promoter Bam-
berger said would soon have a big chain Of
amusement places doing business all over
A. --l -..Vl - I.-,,
City, Hoboken and other places not too far
away from the ~ Broadway headquarters,
the idea being to use the proceeds Of stock
sale4 TO open up new theatres. Although the
stock has gone up from IS TO S.. rs and is
supposed to he paying dividends Of ltper
cent. a month the string of theatres at
present consists Of four five cent moving
picture places. three in Brooklyn and one
on Eighth avenue, Manhattan, several of
which have been in trouble with the au-
thorities.
The investing public had hardly finished
rubbing its hands in glce over electric
theatres when ~wagonloads of literature
concerning the New York Steamboat Com
pany and the Coney Island Water Express
Company began 10 break the sprint records
rom ~ Broadway to the Post Office. The
literature announced that even before any
one had bough, q cents worth Of stock
the company with a limited capitalization
Of only $4,000 owned outright the sight
seeing trip and boats. the Coney Island
Water Express Company's boats. freight
lines. docks. &C" II was estimated that
the profits Of the company would amount
10 ST. .0O a year. or over 50 per cent. of the
capitalization. That being the Case. did
the founders of the company keep the
good thing 10 themse yes?
No, ANY one who thinks that Joseph J.
Bamberger wants TO hog all the dividends
hasn't been a very faithful reader of his
daily market letters, which have made
t5,O00.OO M for my customers" lie wants
10 share with all Of us. and is willing TO take
his time getting rich with the rest Of us.
Those who have written to J. J. Bamber-
ger A Co. down at old a., asking about the
New York Steamboat Company. which has
only been casually mentioned in the Bam-
berger ads, have received a typewritten
prospectus that runs This way:
The New York Steamboat Company has
been organized with a capital of $50. Goa for
the purpose of engaging in the general steam
boat, excursion and freight business. The
company will enter the excursion business
about New York with the operation of a
sightseeing water trip around Manhattan
Island. With proper exploitation such a trip
WIZ I'pNf u UlbN' IpIlhldI dlh pTolldDtF one.
as Il is figured thai New York has a floating
population on an average of 200. 900 stran gers
. within its limits daily, while a very small
percentage Of lis natives has ever had an
an opportunity to circle the city OH lis water-
ways.
4 morning and afternoon trip will be pro-
Nidcd In the schedule for the sightseeing
water trip. and a fair estimate will he 100
passengers a trip. AllowIn. for $50 days TO
tho gaaznp N.,ull hrttv Ia fatal -. an M.
Passengers. \ low estimate on searchlight
trips and other night excursions, say for
100 days. would be- SIS per night, though the
average should far exceed this figure.
The expert accountant who computed the
above then goes on To figure out that the
sightseeing steamer will bring in a revenue
OF s65,o00 a year. Unfortunately there is
some cost ATTACHED Ia operating the
steamer and for incidental expenses. But
u costs only $50 "A day to operate il. while
the other estimated expenses bring the total
up 10 Sl2,O1 That makes the total profit
rom the sightseeing end of the steamboat
business $1,000 a year. "A tidy little sum
Tor the amount of none invested IL il
also stated that the allowance for expenses
va liberal one, while the estimate Of revenue
"a most conservative.
A little later OF the optimistic writer II
the prospectus goes himself one better and
says the sightseeing steamer should carry
'uS' iN''FFN IdSStllHtIS "A StdSon. n
sightseeing yacht operated by another COM
pany that does not sell its stock has been
running three or four years and has come
10 be well known. Sometimes il carries
100 passengers a day on its two trips, but
OF course a public ownership marine sight
seer OF the Bamberger brand may he
expected TO carry four times as many
passengers as the old established steamer
without any kind Of pushing at all.
Asa matter OF news it might be said that
the bamberger sightseeing steamer, which
10 an old excursion steamer refitted, started
out last Friday on its first trip. II was to
nave started a week ago Saturday, but the
delay was explained this way in a letter
10 one OF the prospective stock subscribers:
The company's new steamer ia entirely
inhlshed. but II vas found necessary TO hold
mack the starting OF the trip for a couple OF
Gays to allow the paint to thoroughly dry,
40 mat patrons and guests of the New York
steamboat Company upon the first trip viii
save any inconvenience TO wet paint, running
Of clothes. SC.
IN the first trip the steamer carried about
. doHen persons besides the crew. Most
on the passengers were invited to go along
~ order to see what kind of a business
Ihey could invest their money in. There
was also a capable stan of agents Who ex-
llIna1 thu - D.