The Birmingham age-herald., 1911-05-21
INDUSTRIAL MEN ARE ALL SANGU|NE Schwab and Guggenheim Among the Number INVESTORS AND LAWS Financiers Storm Against Legislation. Little Action in Paris Con-
 corning American
 Securities
INVESTORS AND LAWS
By PRESTON c ADAMS

| New York, May 30-(Special )--Leaders | of industry continue to look at conditions through rosy spectacles and if they have any misgivings as to the outlook keep their forebodings to themselves. Not only is the situation to their minds satisfactory here, but abroad as we'll For instance,
 Charles M Schwab, before departure for
 an European trip. had this to say:
 You will recall that there was con-
 siderable grumbling last year over poor
 steel conditions, but at the end of the E ear the report of the various steel com
 panies showed In nearly every case the
 second best year in history. Some people
 are complaining now, but production for
 the last several months has not been
 poor, an evidence of which is found ir iron production, which has been running at the rate of close to 25,0o0,0oO tons g year.
 l For several weeks there was a falling off in new business, but lately the rail- roads and certain other consumers of steel have shown more of disposition to enter | the market. I believe the next turn will be for the better Money Is easy, and there is plenty of it awaiting investment. The demand for high grade bonds is pro- nounced The country is trying to forget politics and business interests in gen. eral seem to be more hopeful. There has been better steel buying of steel by the railroads of late The railroads have been much of factor in steel for a year or .yo1t1I f1nf riea a in the least to find them in the market as large buyers before great while There has been more or less pessimistfc talk on the steel industry since the first of last year, and I believe it Is about time to become a little optimistic. A good foundation has already been laid for a business revival"
 Then Isaac Guggenheim on his return from abroad says:
 "In England business Is good and in Germany exceptionally good I found that Germany Is buying more copper than ever before. This Is due to the great ex- pansion of business that Is taking place there, And T. Dewitt Cuyler director of the Pennsylvania Railroad, who has F
 Sentiment towards American securities seems to be good abroad and the general feeling excellent. The big supreme court decisions are. anxiously awaited by the foreign financial interests, although I do not think they are having a very deterrent effect on purchases of our securities.
 Things here I believe are very sound and the railroads stronger than ever de- spite the decision of the Interstate Com merce Commission. These are simply typical"
 Holders in stock and American Mines and Metallurgical Works found~the first four months of this year unusually profit able ones, reports to the mining world showing that 110 mines and works dis tributed s33,134745 among their share holders.
 While largely dependent upon the profits of some of the above companies for their dividends, the declarations of the seven securities-holding corporations can be added to the total of the four months $5,049.720, making a grand total of $3S, ,1S4, ,465.
 In classifying the dividend payers of 1911 the gold-siver-lead-zinc producers, numbering 80, lead with $14.92436 360. Since however. they rank a poor second to the coppers. having to their credit s19O 265, ,s46, while the g coppers have disbursed $376, 4,73I, equivalent to IFS per cent on the issued capital, as compared with ST per cent on the former.