New-York tribune., 1909-09-25
TEST OF FINANCIAL SoLIDITY

fnos glad welcome in all quarters 81 the coun-
t. Nc~here or earth IS il more warmly
ee.ved tEan in TIE financial district Of this city.
WHERE tie brunt OF the strcssful DAYS vas borne.
There was nothing radically wrong with tho
condition Of tie country before the smash Of
1Sr7- crops were good. business never better
since time commenced. and the whole CONNER
ela- ASPECT of The world seemed 10 wear a smile.
fnen without apparent reason. panic $. lied the
I-ilars OF tn fabric q business and shook ,hcm
as . storm in The depths Of the earth might sgi-
Kate tail spire located above ne storm centre.
Rock bound financial houses shvored appre-
isensively: those not SO rock bound trsmhIed
upon their foundations Bind ranic Possessed
nearly evers one except here and there. Where
some such sturdy houses a. Kuhn. Loeb & Co
and . few Others stood. rnalirg IN eddy in the
rrsai q desperation
II The swirl 81 ruin these houses dropr.a their
ftT'am anchors and aoated unharrnel be fore the
hurricane and 20 their caluness ana strength
must bs credited IN large maasur. a.. sudden
s-bsieeHce % tne panic Then uhen it was az
oFer AID everybodv was asking his ne!ghLor
what Il was al about the ridlcuIousf..es or tt,
Vf"ie fialr impressed Itself on cversb bod, "a hose
wings had not ben plucked IN tie biting xina
A. soon As the world Of finance had a Glance
70 eA'ch its bresth The solid houses commenced
Tie work Of reorganization. l,ostering and bull
Sarking against repetition of such occur
renors. To-day The sun OF pro- perity Is shining
warmly The land has been blessed with fruit
fUl yield of field and mine and the promise Of
unITeoeoented prosperity is held out freely on
eEery hand
Confidence. that magic WorI describing every
th-ng that is good IL tie dealings Of one man
with another, is present it never was before
no legitimate business enterprise has 10 bcs
for that life blood Of trade, capital because the
word has regained confidence in its fellows and
IS willing 70 cooperate with them 70 Increase
the wealth q humanity.
Tie chances are that would have the
FaIne old difficulty in banking MS prospects of
besiiag Tie r@ses. but the one who needs capital
fsr soTneiblBg legitimate and is in a position TO
demonstrate its leg itiInacy should have no great
difibcgliy in supply ing his needs ia The moncy
reHire 81 The word.
The demands 81 business mace upon such on
C7rns as Kuhn, Loeb a. Co are astonishing FOR
tAeir bulk. II viii De recalled that in one
Transaction a few months after the panic This
Eolse IL connection with several others. han
o4Ed ID" financing o. NC oeal ~ WHICH tlie
Mexican through railroad lines were merged.
THIS transaction involved tie stupendOus sum
- $4Goc0ocgG and with one stroke did moro
than anything else 10 establish the financial
Standing Of Mexico Ig the eyes of tie world.
Coming q II Gid ~ a time when money was
supposed 10 % scarce and there Was a disIos-
lion 10 cut down AL kinds Of investments. the
fize % tfat transaction probably gave business
generally the most timely boost in The history
" that uncomfortable period.
Jacob II SchH. president Of the company, is
Doted ali over the world not only as hnaHeier
of the highest class. hut also as one Of the
worlds most noted philanthropists.
Ia MAS The sane and hopeful message from Mr..
S>hin TO his house al the time 81 the panic
that caused tie frightened investor to PAUSE
and question himself befOre entering apon com
Taitments that might mean even more serious
loss As il turned out, practically every man
Nto owned dividend paying general stocks ana
do not sell them when they hit bottom with a
lang in that fsteful November and December
rom dispose Of his property no" al pf"hl'
and as a matter of fact. he did not lose many
dividends, for the depression, while severe was
not long continued
A few stocks EeTe practically wiped oui' OUT
by the Niidest stretch Of the imagination ihey
could not ~ considered investment properties
syen in he best period Of 'heir existence c"nse-
queIitly such calm advice WAS given by Mr.
schin in the Fnornent OF peril undoubtedly did
much to save the fortune Of many man whose
resources were locked up ia standard securities
II time when prices were ernmbling ana
gambling accounts disappearing under the de-
Inand % sell
When the first rIoam Of returning hope giim-
eksE ngrg