The Birmingham age-herald., 1909-08-08


 work and earning good money, condition conducive to contentment instead of agi- tation and wrory. In other words, they are inclined to think that the "common people, will forget that present dissatis- faction over the failure of Congress to revise the tariff for the benefit of con- sumers.
 Twenty college and university graduates of this years vintage have broken into financial journalism through Dow, Jones & Co.'s Wall Street Journal and White slip service" Harvard leads off with six of its young men, Yale, Princeton, Dart mouth, Columbia and Toronto furnishing the rest. Most of them have specialized in economics and the natural bent of their minds directed them to this field, some regarding it as a sort of a post graduate course, some with honest intent to make financial writing a life-work, others hop ing to find it a connecting link with or @ stepping stone to something In the business world All hail with satisfac- tion the opportunity that opens up to them to get acquainted with the practical side of finance and business by personal con- tact with men of affairs and look-in be- hind the scenes. They are an ambitious, cleanly lot, earnest, industrious, shirking nothing and doing their best.
 It has been a hobby of MT. C. w Bar ron principal owner of the Wall Street Journal, to seek talent among the grad uates of educational institutions. For the last half dozen years or more he has been taking on candidates from that class, though never before fin any one year to the number of 20. The success that has attended the experiment en- courages MT Barron to believe he has hit on q good thlng-good for himself and good for an annual output of energetic, 4x.a a.,y1 .,I-.. to "break in." Living salaries are paid these youngsters nothing prlncely but more than they would get beginning in lawyers offices, banks, railroad offices or counting rooms.
 Some will stick and make good in finan- cial journalism and the rest will scat ter to other callings. None will be loser by the experience. And. by the way, 1t costs a lot of money to run big Wall street newspaper and news service, SIP, 900 to $15.000 a week. Dow, Jones O. have 75 men on the editorial payroll and 325 persons in all the departments.
 The attitude of the great majority of active brokers on the exchange and of commission houses in general to their cus- toners is to take profits. There has been good deal of this going on among tho moderate and small proressionals and the chronic tape players who are satisfied with small winnings and who are the meal-ticket constituency for the members of the exchange.
 Tipsters of the better class have been busy with Louisville and Nashville this week. They insist that there Is something about to be done In Louisville and Nash vile which will be of stock market ad- vantage They are likewise again active with Reading. This time 1t has to do with the advance in Jersey Central which has crossed BOO Reading has $14000.000 out of the $2S. 900. GOO capital stock of Jersey Cen tral which stands on the books at par. At present quotations the purchase shows a book profit of $2S, 900 GOO, an asset which has not been understood at It's proper ap- praisement. Reading is as full of hidden assets as Jim Hills roads in the north west.
 Wall street refuses to get excited over the Chinese loan negotiations. Indeed there is vast amount of indifference If not positive ignorance about the matter. So far as can be learned, nobody outside of the small clique of international bank CTS is trying to lend money to China or fs In the slightest degree interested. There are two sides to this thing of opening China and enlargening our market in the far east. The reverse side of the proposition is the development of long dead labor market and the possibility of ultimate competition between free Ameri can labor and S0,O00,000 Celestials who can grow fat on cents a day wages The prospect is one which Is likely to interest the American working man quite as much as the American capitalists Pennsylvania and New York Central have been running neck and neck race for the last week or ten days. one day the Central is ahead and the next day Penn sylvania. and so it has gone through an advance of about 10 points. Both roads will have to borrow large sums of money within the next few months and as a part of the play little market activity on a rising scale will do no harm to the credit of the two great corporations
 One of the things often referred to by bulls on transatlantic railroad stocks, especially the Hartman Pacifcs and Atchison, Is the tremendous colonization which is going on in the Pacific states, notably California. The prediction Is heard frequently that within 25 years the population of California will be between 15,0O00 GOO and 20 100000. That seems like very large order.