The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-09-25
There Is a Sucker Born Every
Minute
CAPITAL is ELUSIVE
Express Officials Claim They Are Not
Alarmed At Proposed Investiga-
ton of Business and Alleged
Unjust Practices
by PRESTON C. ADAMS

next governor will put the stock tipsters
in the museum of extinct methods of toll
ing the unwary dollar from the pockets
of the innocent, not to say foolish. A
big enough percentage of the American
public to make the business profitable
still believes there are philanthropic per-
sons about Wall street who having in
side information about the course or
stocks are willing to share 1t with the
public for the small sum of s. or $40.
There used to be. and I imagine still
is extent a true and very true saying to
the effect there is a sucker born every
minute"
The advertisements of these suplimated
gold brick artists are master pieces in
their way. For example, one offers in
bold type: $4,000 worth for So" II that
is not a bargain, what could be? Nat
urally this system catches every swing
of the markets correctly. Followed I'M
plicity will quickly develop 10-share trad
er into 100 shares spectators, the latter
into 10OO-share plungers. Worth $4,000 to
capable 1O0-share spectators To every
body renting $40 Immediately or our
system will furnish one free telegraphic
advice good for five points, quick pront
Thus the system pays for itself immedl-
ately.
Generosity could go no further. One
trembles to think what would happen 10
the millonaires if this organization start
ed to operate in earnest.
Some of the rascals who seek to delude
the public into believing that they are
opaniscient do have the decency to PROM
Use to enclose their letters in plain en-
veopes so that other people may not
know Just how foolish the subscribers
are This arrangement Is also calculated
to avoid complications with the post
office authorities, who nowadays occa-
sionally inquire into the nature OF OPP
erations conducted through the mail
Need it be said In conclusion that not
one of these tipsters Is countenanced to
the slightest extent by the respectable
element of the financial community and
that their definite promise of how steel,
Reading, Union Pacific and other stocks
will act are the sheerest buncombe?
Those who vainly hope o5fake fortunes
by subscribing IS or $40 Tor such stun
may find that their first venture Will lana
them in speculative commitments that
NAV drain them of their last dollar. No
person with a spark of intelligence could
fail to see that If these knaves could
do for others what they pretend to be
able to do they would do as much for
themselves and thus become Independent
ly wealthy.
It is surprising that they can catch
enough suckers to make living, but
they do.
r. r. Rittenhouse, former insurance
commissioner of Colorado and president
of the Providence Savings Life Assur-
anch company, has small patience with
pessimism He says:
| iAOur police are today better housed.
better clothed, better fed, and provided
hafnra
the history of any people. In truth. peace
and plenty prevail.
..Here and there we hear the usual
predictions of general business depression
and money stringency in the fall. These
gloomy forecasts are to be expected. In
fact. there never has been time during
the past 80 years, while we were en-
toying a most mavelous period OF pros
nerity. that this pessimistic element in
their predictions during the summer
months when business activity Is natural
" at its lowest ebb.
.erhe commerce of this country Is so
vast and the business enterprises SO
varied, with such extensive ramihcations,
that a depression in a few lines OF trace
cannot be taken as indicating general
business conditions or prospects. Inc
time has gone by when the fluctuations
-
cial centers can seriously affect the gem
eral prosperity of the union.
sThis is the dull season in the security
market. The demand is light and prices
are low; nevertheless capital is very ac-
lively engaged in new enterprises
throughout the country; the farmers nave
been blessed with magnificent crops soon
| to be harvested, and the army OF the I'M
| employed Is so small that there were
| ~ This time a year ago it would not at
! tract attention.
an New York state the reports of the
| labor unions show that there are many
more people employed than there were at
| this time year ago.
| .1rhe bank returns from summer re-
| sorts and amusement centers show an ex-
| tremely prosperous season, which indi-
cafes that the people are spending their
money lberably for amusement and rec
| reation.
.rThe total resources of the savings
hanks in the state of New York In
creased $SS,O0O,0oO during the year ending
June 80.
1hese favorable conditions are known
| to prevail in greater or less ratio IN other
| states.
"corporations never experienced more
difficulty in raising new capital than
| today. During the whole of August they
were able to sell less than s64,000,000, the
| lowest amount In recent years. In Au-
| gust. 1909. they disposed of more than 1884,
| ga. GOO. SO that the decrease this year Is
| almost $4,000, 900. In January more than
s15G OtO. 600 were fioated. while in March
| the enormous figure of $372,0O0,000 was
| reached. Both railroad and Industrial
| corporations are suffering. The railroad
issues last month fell off $11,500,000 and
| the industrials nearly &000.0O0. Bonds
were most seriously affected, but every
| class of security shows a smaller total
| than in the same month year ago. The
stagnation now Is in striking contract
with the activity earlier in the year. For
the eight months of 1910 the aggregate
output has reached the gigantic total OF
| 81. 1000, or SIS, 100000 more than last
wear. The increase is due entirely to ex-
mansion In the volume of short term notes
emanating from the railroads, which are
finding 1t impossible to float either bonds
or stocks on attractive terms. Unfor-
tunately, no sign of improvement can
vet be recorded 1t is consoling to know
that the principal corporations, with few
exceptions, are not in dire need of funds.
"Officials of the large express COM
panies declare that their respective cor
porations are not alarmed by the petition
of the Merchants association and other
important commercial organizations
throughout the United States for an
investigation of Interstate express serv-
Ice and of the companies engaged in the