Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1912-04-16
PLENTY OF MONEY
FOR INVEST ENTS

subscribed Is found bv later expert
enoe 20 have been an orersiatement
Il reflected some skill IN advertising
Il was based upon the presumption
that the public Is alway5 anxious In
financial matters % 20 where tho
crowd goes There have been In
stances OF announcement OF Oycrsuh-
scription for underwriting securities
which nave been found 20 be due 70
hope rather than facts, since the un-
derwritlne syndlcates were Obliged 20
carry. sometimes for long periods, the
securities which we're said TO have
been oyersnhscribed
Apparently that suspicion is not 10
be Justified IN the case of the offer
ing made on Thursday Of last week
- g." $4,000 United States Steel
,rpo alton bonds. secured by mort.
gage upon subsidiary properties. Il
q boiicved % be ;he fact that q
NJ rs before the subscription was
op,u.a between go and 20 millions
OF offerings Tor the bonds hai bes u
received And u Is presumed 20 be-
well Within the truth 10 report that
N lcus' 900 millions was offered %
the underwriting syndicate by sub
scribors who were anxious 20 get an
Allotment o., some portion OF these
bonls. The cables brought Dispatch
es om Europe which showed that
cenIal 6cr ss the sea is anxious 10
make some investment In these se.
a'os. lnqulring dispatches came
I from lg FAR west a- the Pacific slope
and from every one Of the large fin
anr ,..tter az the United States
cam. evidences that a uingostinr pub
I he N.. anxious to have some share
I In tho disposition Of these bonds
On. incident contains several fac
/ tors which .rgc 10 reveal financial
/ ANA business conditions 90 l,lHt tn
certain directions. in the United
state. a. the present time And d
/ Is from this point OF view that th'
markotInc of what is relatively q
small offering ot bonds only 80
millions Is really Of national con-
sequence
lu The first place, assuming as
there is every reason 10 DO, thai these
bonds were oyersubscrihcd az least
three times, his demand shows con-
clusiyely that there prevails through
ont the United states a real ana
earnest demand for investment hy
capital In good and long TIVE securi-
ties OF Itself i shows that capital
is beginning TO become very restless
The effect Of timidity upon capital
seems to be Passing away and u II
~ possible 10 receive subscriptions
asgl egating 90 million dollars for al
offering OF bonds of the Unite'l
States Steel corporation for only 80
millions. then II must be regarded as
bevond question that vast amounts OF
capital are now ready 10 come oul
Of hiding places and TO abandon IN,
epnemeral and temporary methods o.
making investments which have char
acterized capital in this country fol
the past four years.
What This Means.
This unquestionably means tina
with the full sway Of confidenc,
whose reign seems now 20 be begin
ming the greater undertakings an,
larger opportunities for railway an
Industrial development in the Unite
States will be accommodated by
sufficient flow OF capital
In the next place the sutscriptio
10 the United States Steel corpora
ton bonds must be accepted as proc
that no small part OF the public la
confidence that this corporation wi
not be seriously affected by any a
: ton brought by the federal govern
ment upon the allegation that n
p corporation has been organized an
p Is now directed in violation Of N
? Sherman antitrust law. This ieeliu
s Of itself makes II clear that a rca
s. ton from the excessive and. al tim,
even historical agitation aimed
big business or so-CallCd trusts p.
d begun. In business men are bcei
= ming 10 see with clearer ewes an
70 better understanding what their OF
? legations To the laws are on the 9th,
g hand the public appears also 20 ha'
D better understanding than hcretofoi
OF the fact that the material prospc
ity OF the United States IS dcpendoi
In no small measure uDon Oh. comb
. nation Of capital and bra rr
vided that combination relic. ..l
r inug but fair ana honorable
s purpises.
e \ lesser Factor.
B one Of the minor factors disco,
% In the manner In which the Sic
corporation bonds were marketed
the favorable judgment given TO tn
financing apparently by tho secur
ties market. OF course. there ha'
been suspicious. traceable 10 the cyn
clsm which Is an inevitable chara
teristic of the stock market oxper
, ences. that powerful United stat
Stee. capital, in view OF the offenl
Ing Of the Steel corporation bond
determined so TO manipulate n
market that the sale OF these bon,
ould have no depressing effect upC
the stock.
, All the superficial indication
Ihowever. should Justify the imprc