Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1916-04-25
GOSSIP ABOUT MONEY
BY. JOHN II. esKIsoN.

NEW YORK. April s.-Meet CASTOR williams &
N Wigmore Inc, miracle men Of export businessi
Attend while the story is told Of how the mod
capital of $1,000 the outbreak of the has
been built to Wall street valuation of s26OOOoOO!
When Europe to blows g. A. CASTOR, president
of steamship company the lakes, rigntfully
cluded that American manufacturers would a
chance to sell much in the line of supplies
profit He invested. the current report has it,
thousand dollars in Undertaking trip abroad. He
found brisk demand for automobile trucks and
back to meet It,
CASTOR also brought home belief that oppor-
tunities for big business there many and
juicy. He induced Mr. Sabn, president Guaranty
Trust Company York. to lend financial strength
banking service to his venture rapidly selling
organization built here and abroad. To auto
mobiles and trucks added railway supplies, loco
motives typewrfters. and host of other lines. Last
years business totalled some $47,oOo,O0o, with
profits of nearly $5.O00OOO
The other day CASTOR, williams & wigmore me-
financed in the approved Wall street way-and to
this effect:
A syndicate of four big investment banking houses
(Lee, Higginson Co.; Hornblower & Weeks; Kissel
Knnicut & Co. and Eastman, Dillon & Coz took the
firms hve-year notes for $5oooOOO 10000 shares
stock out of total of 100000 without par
value The bankers proceeded to sell the par
and the stock at $40 a share.
Figure the Wall street public's valuation of the
Castor Williams & WigmOre' Inc. business Five mill
makes a total of $26,000,000, doesn't it? 49,
Fair for capital of $1,000 in twenty months! .
anu yet Mes q vice president OF the City
of New York, said that lately there been noted
falling off of interest in the export business among
American manufacturers His reason for this growing
Indifference is interesting.
Selling has become too easy. Manufacturers ara
making too mucn money. 1t is easier and less COM
picated to sell to Americans than European buves
Why take the trouble to make foreign connections
study foreign demands packing shipping and
credit conditions when American buyers stand ready TO
take all you produce?
1t is handicap, to be surei And tbis ,s No. ~.
first time in our history that have chosen to leave
promising foreign trade languishing while we turned
back to supply the demands of our own nrosnerous
customers The bankers say it a short-sghted mol
Icy, but the fat pocketbooks of the nanufacturers
meanwhile certainly do seem like a Justification
Four nations of Europe-England France Germany
Russia-are spending the war over SIS 600 ooO
600 a year. So much has been found from a recent
study of loans placed by these powers. is the
yearly bill of the other warning nations those re-
naming neutral nations which spending lavishly
either to prepare to join the fray keep out? What
is being spent in Austria Italy, Bulgaria Turkey
Greece, Rumania, Holland, Japan, Serbia and the
Balkan Demonstrations? 1t is probably SIS 900 0OO
900 year
Put the at $40 600, 600 year The war has
been for twenty-one months. The date
must be something like s7O,OOO,OOO.OOo
Perhaps $4,000 900 900 represents borrowed money
borrowers have agreed to per their
land that is conservative rate to consider)
years interest charges the debts require a
most extravagant government spends to conduct the
business of our 1O0,00O,000 people.
He who said that the years of reconstruction fol-
lowing declaration of in Europe going
be years big with meaning American finance and
business certainly said mouthful!