Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-10-03

incident. and now the further prediction
is heard that within a very short time
the law in question will be wiped off the
statute books of every state that adopted
it--that the states will be obliged in self
defense to take this back step. 1t is re-
called that that very part Of the west
which has given encouragement to guar
anteed deposits was kept back many
years by enactment of laws against the
safety Of capital
Steel trust officials maintain reticence
with regard to the story telegraphed from
Washington that the corporation has OBJ
tained concessions for immense deposits
of coal and iron in China, with the view,
ultimately, of establishing an iron and
steel industry in that part OF the world.
Those who have been watching with in
terest. not unmixed with, anxiety. the
steady growth of Japanese and Chinese
influence In the trade of the far east are
inclined to place credence in the report
and to look upon 1t as far-sighted move
on the part of the steel trust management
to place itself In position to compete
with the orlentaiS on their own ground.
What the steel trust with it's modern
methods. could do in China with labor at
10 cents day is a suggestion that GER
tainly feeds the imagination.
Among the big individual winners by
the Sixty-point advance in Steel COM
mon Is Frank A Munsey of magazine
and newspaper fame. His profits In the
campaign are said to have been about
S5,OOOOO0. Mr.. Munsey got badly singed
ON the big break in Steel five years ago.
but he has recovered his losses several
times over.
Democratic MI. Perkins.
George w. Perkins, the most conspic-
uous partner In the firm of J. P. Morgan
&, Co, is a very democratic sort of a
person, in whom there Is not the faint
est glimmer of snobbishness or desire to
forget his early humble beginning. IL
Illustrative of this. story is told of a
visit made upon him not long ago by q
former resident of Cleveland, where Mr..
Perkins got his start. The visitor bore
letters of Introduction from a number of
formidable people With only the mereSt
glance at the letters, Mr.. Perkins said.
with a warm handclaSp, You need not
have got these letters: l have known
you for many years The visitor ex-
pressed surprise. and said to Mr.. Perkins
that he must be mistaken. To this Mr..
Perkins smilingly asked: do you re-
member youngster in Cleveland who
had a little office or store a couple of
blocks from your house, where he took
orders for wood and coal and sold a few
odds and ends-the place where you used
to stop every morning and get your
cigars for the day." The visitor Won
deringly said he did. and at the same
time remarked that he failed to see the
bearing of that fact upon. the claim to
old acquaintance. We'll" said Mr..
Perkins; Il was that youngster. and 1
have always had you on my list of old
Cleveland friends with whom had pleas
ant intercourse In my struggling days"
The big market manipulators have made
free use of London for a week or more.
They have given London a strong closing
for Americans, and have used that fact
to make a strong opening here. These
tactics have been pursued with almost
automatic regularity, the stocks most af-
fected being Steel, Union Pacific and
New York Central.
w. G. NICHOLAS.