The Birmingham age-herald., 1911-06-18
OUR COUNTRY IS NOT THE RICHEST Is a Bad Third on Per
 Capita Basis FRANCE IN THE LEAD Two Hundred and Five Million Dol lars Distributed in Dividends Last
 July-Nearly Billion New
 Securities Issued
FRANCE IN THE LEAD
By PRESTON 0 ADAMS

States is the richest of all countries In the aggregate this Is correct, but when it comes to per capita of wealth we arc a had third. l., American Financier, French publication which is recognized as an authority on such matters has just issued figures on this subject which are interesting. These show that while the wealth of the United States In the aggre- gate is s125, 900 oO0,00O, as against $sS,oOo,- coo, 900 for Great Britain and SS300o, ,OOo,OOo for France, when the per capita of wealth is considered, however. France Is easily in the lead, with Great Britain a rather close second, and the United States a poor third. The per capita of wealth for France is $2O7O, for Great Britain s1975, and for the United States s1S59.
 It would be interesting to know how this wealth is distributed, but unfortun- ately no such statistics are available. If they were it is not improbable that the showing for the United States would be even less favorable, for there Is probably a greater concentration of wealth in this country than In any other in the world
 In a recent speech Lloyd George, the British chancellor of the exchequer, made the statement that there were only about 10000 OF so men in Great Britain who would be liable for the sur-tax on in comes, having an income of s25,0o0 or more. It is probable that New York city alone would greatly exceed this total. While fortunes are sometimes quickly made in American mines it is a melan- choly fact that not every man who in vests in mining stock quickly gets on Easy street thereby.
 One of the financial papers the other day had a rather grim jest on this point In its advertising columns in the shape of the following advertisement:
 Twill Exchange.-I have 5000 shares of once well known mining and leasing company. Will exchange same for ono setting hen and IS fresh laid eggs. Leg horn preferred. Only permanent investors need apply. Get Rich Quick"
 Last July S2O5 100000 was distributed in dividends and interest, and as an even larger sum will be paid out next month our principal underwriters and invest ment houses are making active prepara- tions to attract the reinvestment of this money. The journals records show that just over $1, ,O00, 100000 new securities have been issued since January 1, yet investi- gation reveals that mucn new HudlclhS IS contemplated.
 The June offerings of new bonds and notes are likely to exceed last months total of s155, 900 900. The response to re- cent applications for capital has in nearly every case been highly satisfactory both abroad and at home The present Is peculiarly proptious moment for cover ing requirements indeed it Is questiona- hle if conditions can long remain as fav- orable as they are now.
 Money everywhere is abnormally cheap. In London discounts are only a shade above 2 per cent, in Paris the quotation Is 2 per cent, in Berlin 1t is under per cent in Amsterdam 2A per cent, while in New York call money has been in supera- bundant supply at 2A and 21a per cent; time rates until few days ago were on the basis of 2A per cent for short ma turtles and per cent for six months, and commercial paper was very scarce at 512 per cent.
 Our clearing house banks have been carrying reserves far in excess of legal requirements, and the plethoric state Of out-of-town markets has been reflected by receipts on balance from the interior to the extent of well above $10o,0000OO since the opening of the year.
 Nearly one billion new securities have been issued in the United States during the current year. The exact total. as compiled by the Journal of Commerce and Commercial Bulletin, has been s992,320,S5o, an increase of $75,029, $50 over last year. The railroad output reached the huge figure of $719.06 300, during the first five months of 1910, the increase having thus been $154,372 900. The industrial total of S273, 25s, ,O50 shows a decrease of s79, 343, $50
 
 John D. Rockefeller, Jr, has great distaste for business affairs, and 1t Is said that his father has almost despaired of making a great financier of him, not withstanding his generally admitted capa- billties. His interest In the welfare of the employees of the great trust his father has established has, however, made him the most popular of the sons of the multi mililonaires who make their headquarters at 26 Broadway Many stories Illustrating his human side are told. Among them Is one that when his father first sent him to learn the business on the first rung of the ladder he was assigned as a clerk In the shipping department One day the clerk, a Mir. Brown, who had the desk next to him, sent word that he had been taken sick. The next day young Rocke feler also sent an excuse. He was missing the next day and the next. Then the head of the department sent another clerk up to Browns hall bedroom to in uuire as to his condition. There he found John D. Rockefeller, Jr., sitting by the patients bedside reading to him. The heir of the Rockefeller millions had em- ployed a doctor and was not only paying all the bills of his fellow clerk, but was spending the greater part of each day ministering to his wants.
 Were it possible at this time to obtain an accounting of stocks of commodities in the United States the record would have an important bearing on expecta- tions regarding the immediate business outlook of the country. Restriction of con- surnption and curtailment of demand have progressed for so long, yet in no IT, regular manner, that it has become diff 1 cult to tell with any degree of accuracy inst how. in this regard the important industries stand.
 Unlike the copper trade, the other big industries do not make public figures or surplus stocks.
 In dry goods, production has been so ad- justed to consumptive requirements that now 1t is acknowledged on every hano that the trade has rid itself of surplus stocks to such an extent that unsold sup plies are the smallest in number of years. As to the iron trade, estimates are difficult. Last December 1t was figured at Pittsburg that the country's unsold supplies are the smallest in number of years. As to the iron trade, estimates are difficult. Last December it was figured at Pittsburg that the. country's unsold surplus of iron was 1,5OO,0OO tons which would have approximated the highest ..,.Ix xE