The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-03-07

of merchandise will be put on the bargain
counters of France this summer and Of
fered on terms which should incite the
buyers 10 invest. Another effort will "a
made to have the shares of the United
States Steel Corporation listed. Some of
the American railroads have already
found favor in Paris. Among the latest
thing to be sold there might be mentioned
Utah Copper.
To promote the sale of this specially is
said TO have been one of the reasons for
the European trip of Mr.. Daniel Guggen-
heih. The Guggenheim interests are re
ported to have reconsidered the nalf
promised underwriting of 10000 shares
of the newly issued Utah stock al 80
and to be seeking French sub
stitution for this output This story
crops out as one of the incidents
of the contest between the Guggenheims
on the one hand and an army of New
England stockholders on the other under
the captaincy of James Phillips, Jr., for
the control OF the s50,000000 Nevada con-
solidated copper mine. Bad blood has
been engendered over this fight and the
big people engaged are saying things
about one another which may be uncom-
fortably remembered later on.
The stock exchange has been consdera-
bly, stirred up this week over the formal
Introduction into the New York legisla-
ture of resolution looking to the Off
cial investigation into the manner of
doing business under the auspices of the
exchange. TIE board of governors has
been doing its best to placate popular
criticism by sending a number of its
members to the goat pasture lately, but
at - hnav, ttoylo
to still the clamor. The authorities of
the exchange do not go deep enough in
their efforts at f-purification.
There are many things they will have
TO do before they can hope to gain and
hold public confidence lot of skull
duggery is practiced with the tacit con-
uivance or at least acquiescence OF the
authorities of that body, and its machln-
cry is being continually used in the car
rying out OF schemes to tax the public UNI
fairly. 1t is all right to say that specu-
lators are legitimate prey for the pro-
fessional traders and for those who have
the brains skill and disposition to eX-
plot the outside world for inside benefit.
All the same these outsiders come into
the fold of the stock exchange to do bus
mess and they are entitled to fair play.
VIGOROUSLY this they do not always re-
ceive at the hands of the exchange. Ever
and anon a campaign is organized and
put through intended to take away the
money of the public. The deal is crooked.
The cards are marked, and the outsiders
do not have an equal show with the play
ers on the inside. 1t is this injustice
which is at the bottom of the great mass
of complaints lodged against Wall street
and there is more or less good ground for
the uproar.
All this will have to be cured either
from within or through the agency of leg
islative action. knowing in their hearts
that there is justice in the criticisms
against the exchange the membership OF
that body may well be nervous over any
honest investigation into stock exchange
methods and practices if such investiga-
ton be nteligently conducted with defin-
iteness of purpose. Whether this latest
Albany inquiry is honest or merely one