The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-12-17

ten million dollar industrial combinatio
WAS Thought pretty big thing. That
was. OF course. before the formation OF
The steel trust Now. however. the
slatisticians place any capitalization
under that figure under the common head
OF Smaller corporations when they
come To make UP their tables.
To show the growth of these Indus
trials. despite the prosecution of trusts,
II is worth notinc that in 1910 the capi-
taliZation Of industrial and mercantile
100000 aggregated $3.50 125, 900 while for
the first eleven months OF 1911 the Total
Is sSAL3i&, 800, very nearly twice as much.
One of the most interesting reports
brokers have heard recently was circulated
among the houses which do business in
puts aud calls. The governors OF the
stock exchange, 1t is said. were consid :
cring a proposition 10 prohlht all mem
bcrs from selling privileges. Their reason
was that the HcnninG and Van Schaicll
failures had been due. In part. to the SELL
ing of puts and calls and that many other
small houses bad gone into that branch
OF the brokerage business. None Of the
officers Of the exchange commented on
the report. but it was credited in places
where puts and calls arc dealt in.
Formerly Important,
In the old DAYS before Russell Sage
gave up The business 5 too hazardous,
dealing in puts and calls constituted an
important department ~ the brokerage
business. Then IT gradually lapsed from
stock exchange practice and most OF the
spectators who wanted puts and calls.
whether as a speculation or a hedge,
bought them in the London market, TIE
business OF dealing in privilege is con-
Quoted much more scientifically in Lon
don than il ever has been here. and the
arhitrace houses did profitable business
with this branch Of The London market
alone.
1t is only within The last wear that
sales or privileges have again been taken
"A stock
houses. IN recent months the business
has developed rapidly. the temptation 20
engage in 1t having been enhanced by the
circumstance that regular commission
business WAS none 100 good. A great
many houses lave found II profitable
adjunct 10 the regular brokerage busi-
engaged III il the governors will probably
not prescribe it altogether However, il
Is considered probable that regulations
will bc passed I'm the endcavor 10 have
toe business conducted as securely as II
is in England.
Do Merchants Favor Trust Law?
~ an executive session Of the com
mittcc on the Sherman antitrust law OF
the New York Board of Trade and Trans
portation. held recently ii was decided
10 conduct a careful canvass OF the at
titudc OF New York merchants and busi-
ness men generally on the existing federal
laws OH trusts and combinations.
The committee. which was appointed
previous TO the decision on the tobacco
combination and the filing OF the disso
luton suit by tho federal government
against he sO-callcd steel trust" VIII
ask u series Of Questions Of New York
business men as 10 whether tncv favor
the continuance Of the sherman law un
der the recommendations or President
TAFT or the restoration oC The old meth
DDS Of individual competition. or the re-
peal of the amendment OF the trust law
and its displacement by another and less
drastic law.
The committee. II is asserted. has no
preiudiccs in conducting the inVcsttGa
tion. II is set forth. however. that
somctninc must he done with reference
10 HE trust laws OF the country mas
much a trade generally is being ham
pcred. and that The trusts when originally
formed operated under the existing laws
at their period Of birth. whereas al pres
cnt they arc not certain as TO their legal
rights and limitations.
The membership of the Investigating
committee includes some of The leading
manufacturers. merchants and rcplcscn-
tativc business men OF tns city.
\ spccUlator who is so big that lie
thinks he has some what To do with maxi
ing tho daily stock market, and perhaps
has upbraids the critics What will
thcv havc"' hc asks. I'VE work 10 ad :
vance The leading stocks like steel and
nIcu Pacific and Reading and after a
while DcouIc begin 10 complain. We are
not making market. II is no market {.
We arc merely gambling in a fcw stocks.
WAY doscnt the market broaden? WHY
IS the trading all in two or three
-, ly.,y