The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-08-13
TRADE OUTLOOK
IS UNCERTAIN
Business Shows Evidence of
Recording Some Slight
Improvement.
FAVORABLE WEATHER HAS
BETTERED CROP OUTLOOK
Stock in Great Corporations Is
Held by Large Number of
Persons.
BY PRESTON c. ADAMS.


BY Leased Wire 10 The Tribune.
NEW YORK. Aug. IA study of the
shareholders list OF the great corpora
tlons of the country shows some remark
able facts. In the first place. In the pas
ten years the number OF shareholders II
these corporations has Increased more
than 200 per cent
The United States Steel corporation
shows phenomenal increase in share
holders. From 80 900 shareholders In 100!
there was an Increase TO $4,000 In 1906
From 1905 TO 1911 there has been an in
crease TO 120. 900. The Increase from 1901
amounts TO 2I5 per cent, and from 1909
81 per cent The Steel corporation has
corporation in existence today, and tbs
gain shows that Investigations and other
political attacks have not shaken the con-
fidence Of It's great army of shareholders
While increased capitalization accounts
To a large extent for the heavy increase
In the shareholders OF several corpora
lions still companies which have not IN
creased their respective capital stocks
show gains as pronounced as those that
have.
1t is further shown that the majority
OF the stock In nearly all the great cor
porations is held In lots OF 100 shares
or less. For instance. j. Pierpont Nor
gan Is sometimes called the great infiu
ence In United States Steel. lnternatlon-
Mr. Morgan commands dominating po-
sition, but at the same time more than
so per cent Of the preferred and common
stock of the Steel corporation are owned
by the people who are IN no way iden-
iitied with the Steel corporation except
as stockholders In other words, the ac-
tual owners OF the Steel corporation are
the so-called small holders and the peo-
pie who possess 100 shares CT less are
farsin the majority. MI Morgan and his
associates and the directors Of the Steel
corporation arc large holders, but their
aggregate holdings are but a drop In the
bucket compared with the total capital
ization.
For all practical purposes, however, the
men who control these corporations might
as well own the majority of stock for II
is next 10 impossible for the real owners
TO act together except through those in
control
An idea cf the extent OF the railroad
industry OF This country may be gained
from the fact that according to recent
government report the capitalization OF
American railroads reaches the iDcalcula
Die total OF eighteen and half billion OF
dollars. of this ten and half billion
is bonded debt and eight billion capital
stock.
These hgares arg almost beyond the
Imagination. nearly billion passengers
arc CARRIED annually and nearly two billion
tons Of freight. The passenger mileage
WAS thirty-two billion and the freight was
The railroad is surely great insttu-
ton.
Mixed Business Situation.
Tho business situation continues mixed.
There is some evidence. however. that
trade on the whole Is showing a slight
Improvement This Is the natural result
df the better crop outlook due 10 the fact
that The season is so well advanced that
serious damage is now less likely.
Mercha andise stocks nre believed TO be
low. but I'm face of this there does not
'eern 10 be any haste I'm stocking up for
future needs. notwithstanding that money
is plentiful and credit good Undoubtedly