The Arizona copper camp., 1920-04-03

talk, should judge it was not doing
very well.'
Never letter" spoke up an en-
ploye with a big jag of stock pur-
chased from surplus earnings. 1t has
$6OO,OOO,OOO of cash, Liberty bonds,
Treasury certificates, etc. It's capat
city has been increased 120 per cent
without increasing preferred dividend
and interest obligations, and it has
spent nearly one billion for new con-
struction. 1t has 100000 tons of un-
filled business on it's books"
MY fondest dreams have been real
lied" replied j. P. "The common
must be selling about 5000 a share
| have been well paid for my visit"
But it isn't selling at half 5000 a
share" corrected the employe. "They
knocked it down to SO today"
Il think I'll telephone Gary to di-
vert that $200,0O0,OOO cash to busi-
ness interests in need of it," suggest
ed Mr.. Morgan.
But Gary can't do that" walled
banker member. "Steel, with other
big industries that piled up millions
over the past five years, has this
money invested in U. S. Treasury GER
tiicates. They are helping to finance
the government below current money
rates, and therefore depriving COM
merce of funds necessary to conduct
its expanding business
"How about Rockefeller? Can't he
help?" questioned ]. P.
"The government gets nearly all
his income, as we'll as that of all other
millionaires," chimed in a capitalist.
"We can't reduce our borrowings by
selling out, because the government
would take practically all our profits
in taxes. It's more fashionable to
spend money than to produce and
make it these days."
81 hear the railroads and the Inter
borough have lost millions annually 2
said ]. P. Freight and passenger
traffic must he poor"
You're dead wrong" spoke up a
man in the crowd "You can't get a
seat in a railroad or Interborough
train, and the roads cannot handle the
freight consigned to them Shipments
in some industrial districts are down.
so per cent on account OF inadequate
transportation facilities"
1--WE are suffering from undigested
securities" moaned bear trader.
''It seems to me l coined that phrase
years ago." replied J. P. However,
work and production will aid diges-
ton"
Your former partner, Dawson, is
stealing some of your thunder piped
speculator 'He coined a new one
on his recent departure for Europe
when the reporters requested an in
terview. Wall Street will make his
tory while am away is all they
got"
my broker applied the finish to my
financial history this morning.
chimed in sold-out bull.
Il lost all the money l made last
year and can't pay my income tax"
wept trader from somewhere up
state. "The next chapter of my his
tory may be made in jail"
Brokers loans are $1,OOO,OOo,"
walled a banker.
Bully for the brokers!" responded
the immortal J. P. "They should be
congratulated on keeping down to that
unusually low figure in the face cf
new security issues of $25,000,O00 GOO
or more over the last few years. Why
worry with our state and national
banking resources of $45,OO0,0OO, 900,
which is three times that of the world
in 1902"
What about the younger genera
tion of Wall Street bankers aEout
whom they talked SO much when l
shuffled OFF," asked the spirit of J. P.
I'VE can't do anything, for fear the
big money stock in Washington will
swing and land on u.s. spoke up a
young banker.
"Why not pass the treaty?" ques-
toned j. P. THAT would help some"
eve can't while Wilson thinks he
is the Constitution" replied a Broad
way banker.
Mr.. Morgan, rising YEARLY: We'll,
| guess I'll fade away
Don't go!" cried the mob. Cant
you help us? We need you"
From what ! see and hear" re-
sponded the immortal ]. P as he fad
ed away, you don't need me as badly
as you need brain specialist"
LEGAL NOTICE