Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1916-08-11
Gossip About Money
BY JOHN NJ. OSKISON.

EW YORK Aug 3.-Out of the great mass of de-
n tail just published concerning the appraised
estate of the late P. Morgan, one fact stands
plain: He not rich man.
As the appraisers what great banker left, it
was roughly divided four parts: CD His interest
in the banking firm of which he was $SO,OO00OO
(2) securities. quite $19,OOo,OO0 Cd art OBJECTS
about s2O5OOOO0 and ( real estate and miscellaneous
items valued at nearly S1O.OO0,OOO
Of well under 00Oo will indicate even
stranger Wall Street how relatively unmpor-
to Mr.. Morgan the mere pling up Oh money
Probably Hety Green actually added more to her prl-
fortune during her lifetime than Mr. morgan ulu
his
was not the money, but the power that came
the control of industrial and railroad ana
steamship projects that Mr. Morgan coveted "oFless
stocks of his possession at death with face value of
over million showed decidedly human
in his Judgment of investments; the fact that he
nearly half a million in the deprecated stock OF
the New Haven railroad was evidence that he was one
take his loss along with the other investors VINO
put money into the road his advice
There are probably twenty in this country
richer than was Morgan he died, and if you
could name more than five of the twenty you would
be exceptional student of money matters.
For six months at the Engineers club, Of
York City, Walter S. clifford, statistican of the
American Telephone and Telegraph company, has been
working under the direction Of Howard E. Coffin
chairman Of the committee industrial preparedness
of the naval consulting board) in making list OF
10000 manufacturing concerns in this country which
will turn over their plants to government uses II the
need
What Coffin and Clifford (C1fford is PlattS-
burg graduate by the trying to do is to
for manufacturing plant capable of making mu-
nitions a small government each year This will
be given in the hope that manufacturers will become
accustomed to making cartridges Shells rifles and the
many other items of war equipment
There is little Of the spectacular about this phase
of preparedness, being conducted
with great efficiency enthusiasm are the
camps upon which General Wood is stalking his hopes
of rousng the country to realization of the need
for man preparedness.
Is it significant of anything beyond curiosity
the National City banks latest publication deals with
estimates Of what it is going to cost to replace de-
stroyed property in Europe after the ends?
The figures here from the Americas, the
banks magazine devoted to South American and Euro
pean trade.
billion dollars will be the replacement cost
the is taken estimates made by Belgian,
French and.German experts.
The banks writer TT seems reasonable TO eX-
pect American industries will be called to do
very of the rebuilding Of factories and
railroads fact European business interests
and already making inquiries"
is the inference? That the business men Of
Europe the end of within short time? That
obvious The question remains How reliable
they prophets? one remembers that they were
almost united 1913 1914 in saying that the
would not
Promoters are studying with diligence the figures
showing how 2445664 automobiles owned in the
United States distributed
Look for unusual activity of stock statesmen in Iowa,
where there automobile to every sixteen nhabi-
tants and if you get away from the lure of
the promoter go Alabama, where only person in
zoo a car.
Do kind act with good grace don't do it,
Conceit may puff a up, but it doesn't boost