The Arizona copper camp., 1920-04-03
WALL. STREET SERMONS!
One Traveller Returns
(By William E. Hazen, in the Boston
News RurpauA

brokers came down to work after di-
gest1ng half dozen speeches and in
teryiews, telling how the whole world
was on the rim of the volcano, with
slant on. The "ex-banker' had that
morning told, for the 326th time since
January 1, 1919, how near we were to
a panic, and called attention to the
fact that his first prediction of dis
aster, made in 1914, had not yet ma
terialized, but his fondest hopes might
soon be realized
Stocks and bonds were tumbling.
Wall Street was surcharged with con-
flicting emotions, each more painful
than the other.
In the midst of frenzied cries from
brokers, and hysterical sobs from Gus
toners called upon to put up more
margin, a calm and dignifed presence
passed through Wall Street, and en-
tered the office of J. P. Morgan & Co.
A joyful cry dispelled the dense and
suffocating atmosphere.
"J. P. Morgan, Sr., is hack in Wall
Street" was whispered from office to
office.
Business was suspended and grand
rush to the well-known corner set in
Bankers, brokers, clerks, even the
public" itself charged the great bank
ing house and surrounded the desk
where sat the immortal shade
A broker who had just borrowed a
million or two at 25 per cent
spoke up:
Welcome back to Wall Street, Mr..
Morgan. We need you What shall
we do and how shall we do it? We
have no leader Stay with us a
while"
Cant stay long," answered ]. P.
"A day off is all 1 got.'
Il get all holidays off, half day
on Saturday, double pay for over
time and work only eight hours" ,"
piped steel roller from Pittsburgh,
with a suite Of rooms at the Plaza.
Mr.. Vanderlip tells us the world
is going to ruin and will take us with
it, and we're selling en- spoke up a
broker who had sold out his last Gus
toner.
Things must be terribly bad" in
terrupted j. F. II pity the idle work
men and the starving women and chill
dren; hut helped out in many panics
and industrial depressions. Perhaps
| can find a remedy for"
'But we are not starving, inter-
rupted a man wearing silk hat and
carrying cane, identified as a master
bricklayer. 1--WE have plenty of food
and money, and don't-work hard for
it. My wife says these profteers in
diamonds and platinum wrist watches
ought to be in JAIL
"The grasping capitalists wouldn't
give us parking space for our auto
mobiles chimed in steel worker
"We went on strike"
Money is 25 per cent, and they tell
us Europe is insolvent," walled a
broker.
Money 25 per cent in London?
Why, it rarely got above per cent
when l was here"
You've got it wrong" corrected the
broker. Money is 25 per cent in New
York; not in London"
''Oh, understand now. The United
States is insolvent. Too bad
mo! No! The United States is
reeking with prosperity. There are
18,500,000 national bank depositors
and 21,OOO,OO0 Liberty bondholders.
Cooks are going to work in automo-
biles; but we are told we are all go
ing tToke. Mr.. Vanderlip says so."
"Mr. Wanderlip must be very i'm
portant parsonage. Is he PRESIDENT"
queried ]. P.
mo; he's not president. He hasn't
time to do anything outside of giving
out interviews and making speeches.
Mr.. Wilson is president, Mr.. Marshall
first vice-president, Mr. McAdoo Sec
ond president, and Barney Baruch
third vice-president.
81 think l might organize a syndi-
cate and loan few millions on the
Stock Exchange at per cent" sug-
gested ]. P.
Goodness! Don't do that" cried a
man who said he was federal re-
serve director. "We want to force
commercial liquidation. Then the
prices of eggs, butter, ETC., will go
down"
please do it," pleaded a manufac-
turer. Easy money will give us an
i, outlet for our goods. If we are forced
to llnuidate we shall have to close nnr