The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1909-09-20
AN UPWARD MOVEMENT WITH.
OUT PRECEDENT ON WALL
srREET-Irs REASONS.
OTHER STOCKS ARE ADVANCING
The Value Of the steel Corporations
Common Shares Has Increased
From 42 Million Dollars 10 400 MIL
Ion Dollars in Five Years.

New York Sept 10 The common
stock Of the United States corpora
tiob reached extraordinary price Of
$Si25 a share 'oday. a rise of 5.S
points from yesterdays close, and OF
points In two days
Considering the facts that the total
amount Of the stock exceeds 500 mil
lion dollars. that the dividend Is only
AZ the rate OF per cent per annum
and the entire immense volume of the
stock was conceded to be water al
the time Of the organization of the
huge concern. this upward movement
Of the stock must be considered the
most remarkable in the annals of the
stock exchange
The market value Of this stock hls
doubled since last February and II is
now worth almost ten times as much
as when II reached the lowest quota.
tion Of 1904, following the suspension
Of dividends, when it sold down to
S3S
O.hcr stcck- of small amount have
been rushed mp temporarily to great
heights by manipulation, hut there Is
no comparison between such an op.
Grafton and that of the astonishing ad
vance In United States steel common
stock The market value of the en-
tire million shares was less than
i2 million dollars at the low quotation
OF 1904 They are worth l2O million
dollars at todays high quotation.
Rich men have been buying cnor
nous quantities of this stock fo
J months past. influenced by three con
siderations. The rapid expansion o
the steel industry is one. The increas
ing value of the corporations In,
mense holdings OF coal and ore land
Is another. The third Is the fact tina
the corporation has practically dor
bled it, capacity without an apprec
able Increase In It's capital aud bone
ed debt since Il was organized In I90'
new construction and eXtraordinar
replacements and betterments in tn
past eight years are said 10 amour
10 about $50 million dollars. In thl
way the company has been "squeezln
the water out" OF its common stock
by increasing the value OF the prol
erty Of the corporation without II
creasing It's capital stock
J Prince or pauper." said Andre,
: Carnegie about the steel business. Bi
profits or no profit is it's history Fe,
II industries are SO greatly affected b
" the ups and downs OF business. Tn
IS net earnings OF the United state
d steel Corporation rose from 70 milllo
e dollars In 1904 to 100 million In 1901
IT falling 10 81 million In 1908 Tn
h production OF iron IN the Unite
2. states rose from Q 10 million tons |
D 1897 to nearly 26 million tons in 100
p and dropped 10 less than lG millio
', tons In 1908. In January and Febrt
n. ary, 1908. II was down 10 little owe
a million tons month. the loves
rate In ten years Now the industr
Is In the full flush OF another ool
and the present production is at tn
2 rate OF - million tons a year ne,
high record
= The facts here given explain IN
. present eNtraorduay speculation an
investment in the stocks Of the hug
l corporation
l Il Is customary TO speak Of thi
1900 million dollars corporation as
trust, yet, big as Il is, and great a
It's growth has been, Il controls onl
about two-thrids of the iron and stee
business Of the United States.
There was a big trade and som
large advance I'm some other stock
~ Yesterday Total transactions War