The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-09-14

bay
The song of the sailors in glee.
$50 think of the luminous footprints that
The comfort DER dark Gallilee
And I wait for the signal to go to the
To the ship that is waiting for ne
Bret Harte. written just before his
| death.)
] Japanese Finances.
| So much time has now elapsed since
| the peace of Portsmouth that the gov
eminent finances of Japan, and also
| the industries and commerce of that
empire, may be regarded as once more
on a normal basis and as subject to
only the ordinary influences of the
world at large. The showing which is
made in the ninth Financial and
Economical Annual of Japan" is there
! fore particularly instructive as
revelation of the real condi-
| riol of that country and as
| mic future. There can be no doubt that
the war with Russia imposed a very
great strain upon japan. Indeed, there
are those who have. said that the
| strain could not much longer have
| been borne, so that the American in
Prevention Of peacemaking proposals
was welcomed by Japan as affordtng
relief and escape from embarrassment
which was daily approximating dis
aster, and those have added that
now, since the conclusion of peace
without the large cash indemnity
| which Japan desired, the island en-
| pire remains in serious straits. If this
view of the case were correct-as we
are by no means persuaded-we should
have to credit Japan with a degree of
| recuperative power unrivaled in the
| history of the world.
For this very elaborate and detailed
report of Marquis Katsura's makes 1t
quite evident that last year Japan
was not only solvent, but also pros
| porous to a degree which not a few
other nations might we'll envy. 1t was,
| of course, a year of general depres-
sion throughout the world, and of some
disaster. 1t was a year of budget de-
ficits, of diminished commerce, of bor-
| rowing and of fiscal stringency. I'M
ports from nearly all countries showed
slight decline; but the net indica-
| ton of the statistics of commerce is
| that Japan Jared as well as other
countries and better than some OF
| them.
The average prices of commodities
| of all kinds, as we'll as of securities,
had downward tendency. But to this
rule there was one very marked ex-
ception, in the deposits N the postotf1ce
savings banks. These in 1908 were
more than S45,000,00O, for. the first
time on record exceeding the $4,000
| 900 mark, while in 1909 they have
! leaped further, to more than 52,5OO,-
| 900. These deposits are made by g.
| 502,050 depositors, or nearly twice as
many as there were in 1903. In a per
| iod of general commercial and finan-
| cial depression, therefore, while Japan
| has suffered in common with the rest
| of the world, the savings and wealth
| of the people have been increasing at
an unprecedented rate. That is re-
markable testimony to the energy and
thrift of the japanese. and pretty
convincing promise of that nations
continued solvency and increasing
prosperity.-New York Tribune.
Auto Industry Growing.
There is no business" in the world
quite so profitable as the manufacture
of automo biles. Detroit has had album
ant evidence of that within the past
As hours. The Cadillac Motor Car
Cmopany has just sold out to the Cen
eral Motors Company for $4,000, 900.
That is ostensiblv a profit of about
200 per cent on the present capltallza-
ton. AS a matter of fact, it is vastly
more on the entire investment. Past
didviends huge ones, are not figured
in mat. 1t enabled the eleven stock
holders to clear from 100000 to
$10,O0O,0O0 apiece, in proportion to
their holdings. That is bounding to-
ward affluence, surely.
Detroit has had other conclusive ev-
dence within the past six months OF the
astounding profit in automobile max
ing. The EMF. Company has made
a profit of about $1,400,000 on a
100000 investment. The Ford COM
pany has been paying tremendous divi-
dends for year. rhe Olds motor ana
Buick Motor comp cies sold out to
the General Motors Company at vast
pecuniary advantage their stock
holders. Nobody but the mall group
of stockholders knows II fabulous
profits of the Packard AAv or COM
pany. Its present. capitalizatic or So
O50,OOO and its present plant, one OF
the largest manufacturing plants in
the world, were builded upon stock
dividends, clear profits, and the end
is not.
What is the meaning of, all this stu
pendous profit that is being garnered
from the making of motor cars? De-
troit alone is putting $4,000 or 10000
automobiles upon the market every
year. A dozen other cities, scores OF
other firms, are quite as productive
Yet nearly every firm complains that
it is behind on its orders. Agents are
praying for more cars. The explana-
ton is the ancient and obvious one
the demand is greater than the sup
ly. The novelty is still novel.
There is but one logical, natural, IN
eyitable coures. The supply will con-
tinue to grow. More capital VIII pc
rushed into the business. Many more
firms will be organized and incorpora-
ted for the manufacture of automo-
biles The tremendous profits VIII at
tract idle capital. Competition will
develop. Thus far it has been prac-
tica1Iy dull. The supply will gradually
approach and then equal the demand.
Then prices will drop. They are bound
The price of automobiles within
two years hence may be cut in two.
The man whose income Is $2,50O may
then afford to own car.-Detroit
Journal.
The Art of Eating.
An enterprising woman named Hol.
ker has started a school at Budapest.
lie Of a