The Montgomery tribune. (Montgomery City, Mo.) 1892-1910, 1909-11-26

tS@:<=( CT Staples mas DSSu ueTdlueu 4
E4NsSNj far and wide. But there is Il
another harvest that has M
been growing and ripening all unno- IN
ticed by government statisticians and III
by everybody else, and that is the VI
bumper crop of new millionaires and VII
multi-millionaires. Never before were
there so many in New York as there Hi
are to-day. Millionaires were made in M
a night by the great wave of CONSOLE N
dalton and the merging of hundreds ,
OF industrial enterprises that was the u
seature of the opening years of the fur
twentieth century, just after the close II
of the Spanish-American war. There :
were steel kings, steamship kings. z
pump kings, kings Of car springs and II
of air brakes and Of all sorts OF "
things. They blossomed forth between W
Ghe sunset of one day and the dawn II
vi the next. The select circle of plu.
tocraCy widened so swiftly that 1t ~
broke all barriers and created a new Il
aristocracy of wealth in America. Il
New York was invaded by a horde of =
|Yesterners whose manners in some Z.
cases shocked even the imperturbable \
seryitors at the expensive hotels
where they monopolized the royal
suites. Pittsburg, from being simply
a great mill town, a city of grimy
workruen, jumped into worldwide
prominence because it was discovered
suddenly that it had more millionaires
to the square inch than any other
spot on earth. In New York all sorts
of people achieved fortunes, paper or
actual. almost before they were
aware; jockeys, walters, bartenders
and other humble folk glanced with
umaze at the balances with their
brokers and began making plans for
yachts and country houses. The his.
TORY of this period was one of the :
wonders of America. Z
Then, two years ago, the panic :
came and put a dampener on the
financial hopes and aspirations of those VIII
survived the various ills that followed in the
OF industrial over-eXpansion. But since the
fclouds have cleared away there has come al
and even more wonderful appreciation in v
the most remarkable advance in the prices
commodities and securities that this countr
ever known. Probably more millionaires have
made In the last IL months by the steadily
tide OF tremendous prosperity than history
has recorded in a similar period of time.
number OF those who have grown rich uuicl
greater, probably than it was in the time of
ger and consolidation, nearly a decade ago.
fore the panic of 1907 there were, perhaps,
m5njonaires in New York. Now there are
where between 5000 and 10000.
1She advances in the value of securities i
Iast two years hare been almost incredible. d,
probably are more than 100, 900 persons VIII
stockholders of United States Steel. In Oct
1aN5, Steel Common was 21B in February,
It was AN; this October 1t has been we'll
The shares of the Pennsylvania railroa
-
fation line, more than $4,000 people being
its books of shareholders. Two years 6
was 1903; lately it has been above $50. Unto
cifc is next to Pennsylvania In the length
stockholders list. 1t is not only one of the
popular investment securities, but also one Il
speculated in most largely. Union Pacific
mon was 100 in 1907; this year it has been
219, an increase of more than 100 per cent.
York Central. Southern Pacific. Baltimore &c
Atlantic Coast Line, Illinois Central, Great
thern, Standard Oil-practically all the stoc
the long list of railways and industrials hay
vanced from SO to 100 or more per cent. In
october. 1907.
Thousands of people who are not specu
and who are intolerant of speculation have
ed enormously by this wonderful rise in 7
They are the ones who bought for inves
when the prices were low and who are now
ing the harvest. During the panic enol
blocks of gilt-edge shares were thrown on
when great spectators like Heinz
Morse. and some others who were not so sp
ular or daring, had to sacrifice anything ar
erythfng for ready money. Their holdings no
throughout the country and have
tucked away In tens of thousands OF safe
strong boxes.
While some of the new millionaires come
the ranks OF those who were bargain hunt'
the days of panic. most of the new p~lutocrat
from the army of spectators.
There are SO many of these new million
that 1t would be impossible to list them all