The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-07-30
TRADE OUTLOOK
IS FAVORABLE
Industrial Demand Insurcs
Good Output From All
Factories.
WALL STREET COMPLAINS
OF SCARCITY OF LAMBS
Public Is Fighting Shy Of Game
in Which Cards Are
Stacked.
BY PRESTON G. ADAMS.

business" is showing evidences OF Inn
provemsnt which means prosperous
season when the thermometer begins To
drop. .
The great Industrial corporations Ike
United States Steel General Electric.
STANDARD oil. Amalgamated Copper In
dUstrial Harvester company, 10 say moth
ing Of the other great trusts which prac-
ticaly control the manufacturing busi
ness cf the country. are In strong busi-
ness positions. II Is true some OF them
are al odds with Uncle Sam. but these
troubles have nothing 10 do with the
manufacture and sale Of goods and are
OF more interest TO Wall street than to
the ordinary man,
No matter what plans for reorganlza-
,Ion may be carried out 10 meet the re-;
quirements Of the law. the tsctories VIII
fact the goods are being turned out and
sold in very satisfactory volume.
There Is. of course. still some uncer-
,ainty about crops. but on the whole the
situation all over the country is promis
ing With big crops and satisfactory
manufacturing conditions, the railroads
are bound Ia do big business.
So Il may be said with confidence that
the future holds great promise for busi-
ness
Scarcity of Lambs.
This does not apply 10 the stock mar
ket harvest Eyery conceivable bic, - conJec.
regarding the reasons for the absence OF
the public from the stock market
Here Is AZ explanation from shorn
lamb. which looks very much as though
Il really explained:
II jg not that he (thc lamb Is sore
because of such losses as he may have
encountered. for me Is perfectly willing to
take his chances AT 3 gambling game II
ho feels that he Is getting "a SQUARE
deal" II is the conviction borne home
10 him BY Hooking Valley. Chicago q
IL fHkI ,.,,- .. afa fnnf
hc Is going up against stacked cards In
any speculation In Wall street, and ex-
Dcrence has taught him that IL Is not
wise To tackle the same shell game twice
Rightly or wrongly he has comprehended
ail Wall street in this condemnation, and
u ayaIls not To assure him that the
standard OF honor Is high In that down,
tho brokers arc generally men Of char
uctcr and stnnd!ng. lie remembers. un-
fortunately that some OF the wizards
whom Wan street loved to honor were
7~cp Of questionable principles and pirau-
cal methods md 10 him the lamb In Wall
street has no other mission save 10 be
neeccd This H. the real reason why
The public has not been In the market
despite frantic efforts to persuade II.
for surely the snare Is spread In vain
in the sight OF the bird Until WAL
street rcgains In his estimation ite true
purpose Of the great exchange mart OF
the country. where natural conditions and
not manlnulatiVe forces are the doninan,
feature. the ordinary man Is content 70
let It's dcvotees prey upon each other foI
their living.
That there Is lots OF truth In this may
not be gainsaid.
Standard Oil Plans.
At the offices OF the Standard o.
company II il said that a statement Of
any kind regarding the reorganization OF
The company viii not likely be made for
month or more. Plans for the ful
compliance with the decree OF the su
nrcme court are being worked out. and
/, Is possible that no official announce
mcnts Will bc made befo,c the distribu
ton OF the stocks OF the separate com
psnles 10 the stockholders OF the Stand
ard oil company OF New jersey is be-
Eun.
II is pointed out that thcre is nothing
left TO be said after the official state
rent Of counsel the dsy following TN
Gccrce OF the court and that all the COM
faIhes embraced In the decree would
carry on buslness under direction OF
their own officers and through their
oum corporate organizations.
When the stock Of Fhe companies af-
iecto9 by the decree ia distributed II is
likely that detailed financial statements
% all those companies viii be sent 10
stockholders, In that ,av they can form
an idea OF the value OF their separate
holdings.
Gates Typical American.
John W. Gates has not been a domI-
hAhA sh'hpk IN tIs STOCK market for some
time. but IL is doubtful II the serious i'll
ness OF any other man In high finance
would have been followed with as SYM
patnetic a feeling as was that OF Mr.,
John W. Gates is really a typical
rsrsnan and the finished business man
and he was always a wonderful sales
man He could sell anything. He began
70, 20 make wire in a small way and to
SCI, II on The road, When he worked up
business he sold the plant built an
other and followed the same course. He
formed the American Steel g. Wiro COM
pany. gave II high standing in the
poration. OF which It has since become
the mos. Important subsidiary. with the
single exception OF the Carnegie Steel
Wail street laughed at John w Gates's
foioIes. but recognized his good nature.
he made any number of friends-made
you met him he called you BY your frst
name and gave YOU several tips on the
market. In every one Of which he nrmiy
DeleSed, II they did not always pan out
Greet In doing such promiscuous favors
Tor he could not keen track of them all.
ana un!lke many others. was unable to
express regret afterwards II his lnforma-
ton had gone wrong He had simply for
gotten all about IL. But that was no
ihult oi ne heart, John ". Gates has
there Is no false bottom in IL.
Thirty years ago the United States had
$1,000 miles Of railroad today Il has
.fp.nev mics. The capital stock then vas
s-.in9 GOO. 600: now IL is IS 2s0 00n 900 The
bonded debt has risen from a. $50. 900 GOO
to feSo9 oo0. 600. The aggregate capital
izauon. which then was az t02 0Do. 600 Is
now siS 500 600. 600. or SIS IA per mile
AGAINST 35s,s2i In 1850. The dividends
raid have been poor. Up 10 1857 thew
v"rc above per cent but from 1885 To
k.sx
2 per cent. Since then there has beer
Improvement. though 81 per cent has
never been dulte reached. The average
rat" received for carving ion of
freight one mile WAS s2i cents i'm 1854
1910 90
The Great Northern IL 10 suend
100000 FOR railroad developncn, ~
OREGON while the Eric has ordered
y.0eoooo worth of equipment Railroads
SEEM 10 he recovering rapidiv from the
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