The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-03

by putting away their securities and
waiting patiently for them to increase In
value. These samples so widely pub,
llshed have probably, NOT been w, witnSSas Sos
learned the folly OF paying slfoo every
time he sells 100 shares OF stock upon
which he paid commission OF SlE.ou
when he purchased II; perhaps holding
st under heavy Interest charges for rise
which did not come In season. he mas
learned that the Rockefeller r-hyah sye.
tenn Of sailing down securities may taae
moro time. but that II is much less SM
pensiYc and more certain In It's results
'If this theory is correct-that GER
tain portion OF the public has. learned me
account for the shrinkaee IN the volume
of transactions on the stock exchange
Even professional spectators. VINO take
commissions 10 croate a markct loi "om
work on during the last few years imam
Immediately after the organization OF the
bis jndustrials, This accounts, no doubt
In part for the cessation or actiye mowe- @
ments would again Invoke the following
OF few years ago,
"It Is perhans premature to I,, draw hns Inc
been educated 10 conservatism and sanity
by it's experience OF the last few years
The American Will always take FISK
Brown Leads Other Financiers.
In the past two years there have been
number OF interesting changes IN tne
relative positions OF some OF our cap
the number OF positions held by them.
The new DIRECTORY OF Directors pub.
llshed this week, and giving the names OF
thosc who occupy the greatest numoer OF
seats at corporation boards, showed that
w. c. Brown, president OF the New York
Central. has taken the place OF w. H.
Newman as leader of the list Newman
rellnuishing his place with number OF
nd
head OF the Eric railroad, is third on the
list, but Instead OF J. 7. Morgan being
fourth as formerly. William Is. Wander
bilt. Jr.. has moved into that place. IWo
years ago he was director in thirty-lwo
companies: now he Is associated with
sevcnty-siN.
!. +. Morgan now is a director In
siXtyfive companies. double the nutnner
w. *. Vanderbilt. Chauncey NJ, Depew.
George j. Could. James Stillman. James
j. llill and Thomas f. Ryan. he mas not
relinquishcd any OF his positions TO tne
generation, notwithstanding that
two members OF the banking firm, H. i.
S,otesbury and Charles steele, represent
him at .eighty-seyen boards Robert -
Lovett Is. gradually assuming the POSI-
tions laid down by r. II. Hartman, and
Edwin Hawley Is increasing his influence
William Rockefeller and
Cornelius Vanderbilt have assumed addl-
tional duties. but John D. Rockefeller mas
that OF the Standard Oil company
Banks Very Cautious.
An indication OF how some OF the larg-
est interests In the financial district re-
gard the financial outlook was given very
clearly day or two ago. a large mer-
chant, who carried probably half a mil.
lion in loans year in and year out. went
TO one of the largest downtown banks
with A view to having a conference TO
guide himself in his business during me
next few months. He had q long talk
with ono OF the vice presidents of the
banking institution In question and was
greatly surprised at the extreme con,
servatsm and note OF caution indicated
in the remarks made by the official In
question. There was no particular tone
OF encouragement. hut whatever conii-
dence was shown was OF a negative
charac cter. and when pressed FOR direct
reply the following epigrammatlc state
mcnt was made with n smile: eve have
millions OF money available for invest
ment and we have not invested IT yet.
Whether II was the banks own money
or the private funds OF the large inter-
ests associated with the bank In ques-
ton was not stated. But the inquirer
came away with a very distinct impress
sion that at least some Of the very larg-
est interests In the Wall street district
are not yet CONVINCED that liquidation
and pressure against the market have
been fully completed.