Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1916-06-30
PROSPERITY AND
HARD TIMES BOTH
IN CHR|sT|AN|A
ShipbuiIdiQg Boom Brings
Plenty Of Money but Diff
Guilty in Getting Supplies
Causes Distress,

Chfistiania June 15.-Christiania is
having a combination of good and bad
times Shipbuilding and marine
freghts cause the boom. while the
difficulty of securing supplies from.
abroad and the failure of ordinary
; wages to FIT the prevailing high
prices cause the hard times.
People who have shares in ships
and the various shipbuilding concerns
are having everything their own way.
Many persons who have held stock
which paid nothing at all or else very
nominal dividends of from three TO
five per cent a year for many years,
now have in some cases, received cash
dividends of from twenty-five to fifty
per cent.
one night not long ago there was
excitement down around the Grand
hotel on the main boulevard of Karl
lohans gade Some new stock had
been issued on the installment basis
whereby purchaser paid about one
third down and agreed 10 pay the
other two-thirds as the money was
needed by the companies concerned.
The stock, one-third paid for began
10 rise in value as general freight
rates advanced. but as the companies
began calling for additional payments
many owners found themselves com
PEELED to sell at least a part OF their
holdings in order to pay Obligations
on the remainder. The result was a
conflict between rising prices on the
one hand and forced sales on the
ether All sorts OF people were buy
ing and selling, from newsboys up;
crowds collecting on the streets ana
tba lnhhiaG n thA hnfnlG in orIp1
to close their transactions However,
The values of this kind of paper after
the war is over is problematical for
with vessels selling at about five
times their intrinsic values based on
1914 prices, it may be inferred that a
general decline viii occur. However
many conservative people here say
that freight rates will continue to be
hieh for long time after the war Isl
endea md that present rates will not
ftoy GnI great extent
~ I Everybody "Yobbing.'
tba, Xing in stocss or shares here
l' LINZ l,all "jobbing, pronounced 'yob-
hints and nearly eNery one is 'yob-
The manager of big Anglo
Nlrwegiau- shipping qoncern- was cali
ed up bv telephone one day by a brok-
er who wanted to learn something of
the credit of a certain emploNe VINO
had obligations amounting TO about
thirty thousand crowns coming due.
why" said the manager you
don't mean Karl, our messenger boy,
do YOU? Hold the phone minute.
say Karl come here. Are YOU the
one this man is talking about? He
says you owe thirty thousand crowns
ON some shares You don't mean TOT
say you are yobbing' do you?
why, yes sir, that's me- answered
Karl. well how are you going tot
raise thirty thousand crowns to pay
the obligation. why ! have it right
here, replied Karl, and taking al
bank book out of his pocket, he
showed the astonished manager al
balance of some forty-five thousand
crowns "The thirty thousand is not
due till tomorrow and l have not yet
been around there, but you may tell
him | will pay il all right
The way these young fellows got
their start is about as follows; An
advertisement appears in the daily pa
pers inviting tho public to subscribe
To a certain issue of stock \ young
clerk, with barely enough cash to pay