Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-11-05

wiped out To Offset this arraignment
facts are produced showing that the
blast furnaces Of the country are at this
very moment producing at the rate OF
between 24.OO0. 900 and Is, 100000 tons OF
pig iron which is but 2, 10000 tons below
the record year. At the same time ex-
haustive and accurate compilations are
made showing that the average OF steel
quotations which prevailed in 1907. The
1907 record gives the average at $408 per
ton. as against $3.50 per ton now. This
shrinkage In the selling value OF products
indicates a loss in net revenue OF
every steel plant in the country, and the
bigger the volume OF business done the
bigger the loss.
Interested in Politics.
The Wall street population Is daily be-
coming more deeply immersed in ma
tional politics. Wall street statesmen
throng the Offices of the banks and
brokerage houses. and after business
hours they gather in excited groups In
the uptown hotels and clubs. They set
tie the affairs of the country at least once
every day. and in dozen different ways
They have defeated Mr.. Taft at the
polls next year by popular maJorities
ranging from 10000 to 5000 600. AS yet
they have not fully made up their
minds who they are going to elect in the
place of Mr.. Taft, and admit consider
able confusion on that point. In cast
ing about for successor the republican
statesmen admit scarcity of stable
men for the job They do not find any
body conspicuously on the stage now ex-
cepting Mr.. La Toilette, and 1t throws
them into a horrible shiver to think OF
that gentleman In the White House.
A delegation from the insane ward Is
quoted as announcing that the nomina-
ton has been rendered Mr. Roosevelt by
Wall street and that the great hon
hunter is giving the offer his serious con-
sideration. Wall street takes itself SO
very seriously in this matter of ma
tional politics that it really thinks all
candidate needs to succeed is the indorSe-
ment of the New York Stock Exchange.
A Wall street Endorsement would be a
good thing for candidate to carry with
him on a tour through the west and
south. On the democratic side of the
| field opinion differs to whether the
domination will go to Gov. wilson.
Champ Clark or Gov. Harmon When
Wall street makes up its mind which 1t
would prefer the democratic convention
street could see its own politics as the
outside sees it what laugh would go
up south of Fulton street
Putting Out New Securities.
Since the 1st of January new bonds.
notes and stocks have been issued to the
extent of S1.515 $4,000. an increase of
$225, 100000 over the corresponding ten
months of last year. This Is rather sur
prising record inasmuch as the impress
sion has been very general that the print
ing press and engraving machinery mas
been given a rest of late
Incident TO the financing of dividend
and interest distribution on and about the
lst of October the call rate on money
rose above J per cent. The total amount
disbursed on this occasion is computed at
$40, 200 800.
Bankers who ought to be in position to
know what they are talking about esti-
mate the estate of the late Joseph Pulit-
ger at S25.ooO0OO. Ever since he began
to make money on q are scale, which
was within five years after his arrival in
New York and his purchase of the New
York World from jay Gould. he steadily
invested his surplus in railroad stocks.
Many Of HIS investments were made when
the stocks cou d be bousht at low fig
rres. Some of his earlier investments,
notably those in Lake Shore, Delaware
Lackawanna and Western. Jersey Gen.
trail, Lehign Valley and Reading. in
creased 100 per ceat to 800 per cent. He
never bought into a property without
thoroughly informing himself Is to its
condition and prospects HIS judgment
was REGARDED as phenomenaIly sound.