The Birmingham age-herald., 1913-12-07

a year or more that he would take the
step. Mr.. Perkins retired from the house
of ]. P. Morgan & Co. about two years
ago and has been gradually laying down
his official connections with corporations.
He plans to devote the remainder of his
life to the promotion OF broad philan-
thropy. Mr.. Perkins is one of the 10 or
20 richest men in New York"
Change in Exchange Firms
On and about the first of the new
year quite a number of changes will be
made among stock exchange firms. There
will be shaking out of weak partners,
organization of new firms inaugura ton
of every known scheme for economizing
The stock exchange situation is illus
trated by the case of a member who de-
scribed his own case: II am entirely
solvent and could insure myself a $4,000
income by trusteeing my available capi-
tai. Ihave to clear $4,000 a year before
l make dollar for myself, and It's been
more than a year since / drew down a
dollar profit. The play does not appeal
to me. / am going to shut up shop, dis
charge all my clerks but one. move into a
broom office and go on the exchange per-
sonally. I own a membership and ex-
pect to reduce my expenses to a point
that should leave me living income. -
Probably not one member in ten is as
comfortably fixed as this thrifty young
man.
One of the miracles OF the street is
the strength of United States Steel. 1t
holds UP wonderfully and common has
only once on this turn gone to near 90.
1t pays 5 Fer cent dividend and at the
current quotation yields about per cent.
The signs are for an easier financial
situation. Money is already in supply for
normal needs and after the first of jan
uary borrowers will have little trouble
in arranging advantageous contracts with
the lender. Among those who will keep
down their demands to the lowest limits
are the railroads.
Transactions on the stock exchange
have reached their lowest ebb, the rec
ord of sales for II months being below
that of any corresponding period since
1896, it is said by the historians.
Recent government litigation against
American Can produced barely temporary
bearish effect and that for only 1 or 2
points figure that is about the average
for the whole list Can people feel that
they are singled out to fill the role of
goat and they make no concealment
of the fact that they do not like 1t.
The story is going the rounds that the
contractors for the construction of the
new Equitable Life Insurance building
can already show a paper profit of $3,-
100000 on the sensational shrinkage in the
price of material. The Delaware Du-
Points are said to be heaviest participants
in this building deal.
The wonderful tables prepared by the
81 eastern railroads for submission to
the interstate commerce commission cover
the statistical records for 10 years They
will furnish statistical data for news
paper writer's and government depart
ments that could not have been obtained
any other way. The cost of preparing
these tables is said to have been more
than 5000
Mr.. James j. Hill sees an unusually
favorable traffic prospect for next year.
There has been large influx of immi-
grants this year and an immense fresh
area of arabic land will become avail
able on that account.
Experts are figuring on the amount of
money that will be liberated during the
next 30 days and made available for re-
distribution. The money situation will
be wonderfully loosened up if the predic-
tions of experts are not a disappoint-
ment.