Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-17
DECLARES FAITH
IN STOCK MARKET
Cleveland Operator Sees
Profits in Securities of
American Firms.
BY JOHN r. SINCLAIR.


Harry w. Hosford, called by some peo-
pie the Arthur Cutten" of Cleveland, is
a man of perhaps 40. He looks at least
five years younger. He is easy to meet,
pleasant to chat with, very frank in
giving his judgment on conditions
typical Midwesterner.
Yes" there will be market recess
sions in the future just as there has
been in the past. Some people will pick
the wrong stocks just as they have here
tofore. But those who buy good, sound,
substantial common stocks Of the lead
ing American corporations and stay
with them instead Of trying to make
a profit on the turn, will DO as well in
the future as that type of investor has
in the past. He Is not Speculator in
the real sense"
Here the young Cleveland millionaire
handed me slip of paper upon which
stocks and the price Of those stocks the
day before.
Discounts Tips.
Nov, believe every one of these
eight stocks Is a basic stock, sound as q
dollar, and an excellent purchase at the
market. Whether the stock market
goes up or down, these stocks should
hold their own and eventually rise
for any investor buying them. There
are others-many Of them-in the same
category"
Then, in your opinion, the condi-
tions Of the country, especially in the
stock market. are not at all un-
healthy" said.
I'm a market where 1900 stocks are
listed there are always some that are
too high and others too low. No man
sh hA IN kn ot nh
lunches and tips without studying
every stock he buys. If a man will
purchase only the soundest stocks to
the degree Of his ability to carry them
through every period of depression he
will succeed, because the future Of the
United States, so far as industry and
business are concerned will show a
greater development than ever in the
past"
Sound advice from q man whose
profits are reported in seven figures In
recent market operations.
Van Sweringens Building.
The Van Sweringen brothers continue
their impressive building program in
Cleveland. No other city of a million
people Is dominated quite so completely
as is Cleveland by these two quiet
brothers.
When they decided that q Mw
union station was needed (the old Vne
was built in 1859 they found tremen-
douS opposition, not only from certain
powerful political groups within the
city, but also from several Of the rail-
roads who had "other plans" in mind.
But the Van Sweringen brothers went
ahead, fought 1t through. and have nm
economically handled union station and
terminals in the world. still it Is not
quite q union station-yet. The power
full Pennsylvania Railroad has not
agreed to enter it. It may decide to do
so later, should public opinion demand
it.
The Evans" have taken over the
Cleveland street railway lines and are
reconstructing them to correlate and
tie into q new rapid transit system.
For years they kept their own counsel,
went ahead with their plans. only to
f1nd opposition because the people had
doing.
The announcement that they plan
on making the Chesapeake a. Ohio
their big road, around which they will
center their trunkline activities, was
followed by the further announcement
that they would split the stock Of this
road from q par Of 500 Q share to
$25 q share, in order to give an OPP
portunity for wider holding Of the
stock.
This is q new departure in the Van
Sweringen program. In fact reducing
the par value Of common stock in rail-
road shares from 500 to $26 Is almost
unique in railroad finance. Only one
other company-the Seaboard Air Line
has done 1t.
OF course public participation has
been widespread In the case Of the two
holding companies which the Van
Sweringens have used in their attempt
to hammer out q new Eastern trunkline
the Chesapeake Corporation and the
Allegheny Corporation.
But the legal status Of the holding
company in its relation to the railroad
has not been oficially ruled upon by
the Interstate Commerce Commission.
Nor by the Supreme Court.
Copyright, 1898, by North Amerie@n News
paper Allance)