Mexico Missouri message. (Mexico, Audrain County, Mo.) 1899-1918, 1909-11-25

far and wide. But there Is
another harvest that has
been growing and ripening all unno-
ticed by government statisticians and
by everybody else, and that is the
bumper crop of new millionaires and
mulh-millionaires. Never before were
there so many in New York as there
are to-day. Millionaires we're made in
a night by the great wave of consoli.
dalton and the merging of hundreds
of industrial enterprises that was the
feature of the opening years Of the
twentieth century just after the close
of the Spanish-American war. There
were steel kings, steamship kings.
pump kings, kings Of car springs and
of air brakes and OF all sorts OF
things. They blossomed forth between
che sunset of one day and the dawn
Or the next. The select circle of plu
tocracy widened so swiftly that 1t
broke all barriers and created a new
zaTistotEacy of wealth In America.
New York was invaded by a horde of
NesternePs whose manners in some
cases shocked even the imperturbable
servitors al the expensive hotels
where they monopolized the royal
suites, Pittsburg, from being simply
a great mill town, city of grimy
Workmen, Jumped into worldwide
prominence because 1t was discovered
suddenly that 1t had more millionaires
90 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
amaze 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.
Then, two years ago, the panic
came and put dampener on the
financial hopes and aspirations of thos
survived the various ills that followed ii
OF Industrial over-expansion. But since
clouds have cleared away there has COZ
and even more wonderful appreciation
the most remarkable advance in the pl
commodities and securities that this c
ever known. Probably more millionaires
made in the last IL months by the stes
tide OF tremendous prosperity than h
has recorded in similar period of Il
number of those who have grown rich
greater, probably than 1t was in the ii
ger and consolidation, nearly a decade
fore the panic of 1907 there were, per
.miIlionaires in New York. Now ther
where between 5000 and 10000.
The advances in the value OF securi
last two years have been almost incred
probably are more than 100000 person
stockholders of United States Steel.
1909. Steel Common was 21B; in Feb
It was 41k; this October 1t has been
80. The shares of the Pennsylvania 7
more widely distributed than any othe
aation line, more than 10000 people |
on its books of shareholders. Two y
was 1903; lately 1t has been above $50.
cific is next to Pennsylvania In the lie
stockholders list. 1t is not only one
popular investment securities, but also
speculated in most largely. Union I
mon was 100 in 1907; this year II has
2l9, an increase Of more than 100 per
York Central, Southern Pacific, Baltim
Atlantic Coast Line, Illinois Central,
AhEAht oidhuulu -plhCAlChlly ali III
the long list of railways and industris
vanced from so to 100 or more per ce
since October. 1907.
Thousands OF people who are not
and who are intolerant Of speculation
ed enormously by this wonderful rise
They are the ones who bought for
when the prices were low and who ar
ing the harvest. During the panic
blocks OF giltedge shares we're thro'
markets when great spectators like
Morse. and some others who we're not
ular or daring. had to sacrifice anyth
erything for ready money. Their holdiI
scattered throughout the country and
tucked away in tens of thousands Of
gtrong boxes.
While some of the new millionaires
the ranks OF those who were bargain
the days Of panic, most of the new phi
from the army Of spectators.
There are so many OF ,hese new
that Il would be impossible 70 list th