Evening star., 1925-01-02
COOLIDGE VICTORY
LEADS TO WEALTH
Wall Street Hears of More
Personal Fortunes Made
Than Ever Before.
BY Consolidated Press.

BY Consolidated Press. MI
NEW YORK. January 2.-The great
Wall Street boom, which began i'm
mediately after the election Noyem-
ber of President Coolidge, and still
is in full swing, has rolled up the
greatest number of personal fortunes
ever accumulated in so short time
in the history of the country, shrewd
observers of the Street agreed today.
Who are the lucky ones? That Is
hard to determine accurately, for in
Wall Street the man who talks Dig
gest about his profits very likely Is
the man who hasn't any, Whlle the
man who says nothing is quite as
likely to be rolling" in new-found
wealth. Still, the Street Is pretty
shrewd at guessing and one or It's
most widespread guesseS is that few
individuals have profited more amply
than George B. Buchanan, the WeH
known specialist in Corn Products,
and one of the most active traders
on the floor of the New York STOCK
Exchange.
Carried Others With Him.
The incest thing about Mr.. Buchan-
an, if the sages of the street are
right, is that he did not try to sraD
all the profits in sight for hlnseii-
His own takings are rated well up In,
he a conservative figuTe-but many
other persons rode to opulence on ms
Coattails The Street agrees that
fully so persons followed Mr.. Bu-
chanan's tips and protited in amounts
ranging from $4,000 TO S1,oOo,VUV.
He'll be leaving soon for Floflda'
will Mr.. Buchanan, to take few
months well earned rest on the sunny
sands of the Winter playground,
whittier he already has been preceded
nv others who earned their vacation
expenses in the Street during the DIE
boom-such men as William =. Du-
rant, the automobile manufacturer
and George Whelan. the tobacco man,
Mr.. Durant is credited with having
cleaned up some three milHons IN
Cast Iron Pipe and other stocks whl4e
Mr.. Whelan also is said to be rlcher
by some millions as result or MS
"hullish" sentiments about conditions
IN this country.
wisconsin Man Profited.
The late Nathan Allen OF Wisconsin
is said to have been one of Mr.. Buch-
anan's SO followers who pronted most
handsomely from Mr.. Buchanars Tips.
He was one of the organizers OF the
Central Leather Company, and among
his large holdings at his death was
block of Corn Products, the faVorlte
sneculatyie medium of Mr.. Buchanan
activities.
while many fortunes of one to five
millions were made by individuals,
first place among the benehclarleS OF
the upward surge of the market goes
70 the big banking syndicates. Cos
sin has it that the FIRST National
Rank interests, which have been in
the forefront of the bulls" upon the
United States. have prohted on d
larger scale than all the rest oil the
Wall Street banking institutions put
together.
The officials of several corporations,
among them those of Standard OH
and the du Pont interest, are report
ed to have profited handsomely by
the opportunities which the election
of 2. conservative like Mr.. Coolidge
offered.
Gain on Rail Prospects.
Ranks associated with railway
finance, like Kuhn, Loeb and Co.,
Speyer and Co, and Lehman BROS
have gained heavily from the specu-
lation born of the projected consolida-
tions and the feeling that for the
first time in more than a decade the
transportation systems of the coun-
try were to be free from unfavorable
influences.
OF course, there is another side to
the speculation of the past lew
months A number of traders who
lacked the vision to see what would
follow the victory of the conservative
element at the polls are said to have
been heavily short" of the stock
market. Obviously they have been
the losers, and have had to pay dearly
for their poor Judgment.
But nobody thinks much about the
losers. It's the winners that count.