| Show PROSPERITY'S FLOOD TIDE Evidence accumulates that the h hys hysterical hysterical s Thomas W W. y Lawson offered his predictions of or dire ditc a year ear or two earlier than was good for or his reputation reputation reputation rep rep- as a prophet Commercial and financial history the earliest days is replete with examples of oC the evils of or and antl extravagance Time has repeatedly demonstrated that at intervals Inter the pendulum of oC prosperity prosperity pros pros- is checked on Its upward swing and antl then drops back carrying with It the tho fortunes of f tho thousands who to use a gamblers gambler's expression had pressed the limit a little J too hard When Lawson on began sounding his note of or warning this country had been boomIng booming boom- boom Ing Ins along on the high road to prosperity prosper prosper- It ity for several years Nc New Ne' wealth was bein created more rapidly than ever before In all great industries of tho the country countr there was a record breaking output and prices were soaring around the top notch This pleasing situation had been in effect for so long that thaC it seemed difficult to believe c that tha it could continue and reasoning from the ex experience ex- ex of the past Mr 11 Lawson boldly hold bold ly Iy predicted a universal smash in nearl nearly all of the heavily capitalized mining mining companies as well a as In a number of other Industrial stocks The Lawson prediction Is still unfulfilled unfulfilled unfulfilled filled and the pendulum is still on the upward swing with Hh no apparent in indication indication in- in of immediate reversal For Forthe Forthe Forthe the first six months of the year more than In new stocks and bonds has been issued and the new Incorporations in incorporations incorporations In- In corporations in tho the states of New Ne NewYork York New Jerse Jersey Maine and antl Massachusetts Massa Massa- a- a since January 1 have reached a grand total of 13 compared compared com corn pared with for the same period last lagl year when the philippics were being launched No Not only does docs this business break all existIng existing existing exist exist- ing records wih the single exception of 1901 when the dollar billion-dollar steel teel trust was organized but t that the movement is still at full swing is shown by new Incorporations in those states for June of more than It will sili be remembered that most o othe of the Lawson camp campaign len was waged against copper stocks but Amalgamated amat ed cd which was charged with tho the crime is today selling at higher figures figures fig fig- ures than before tho the Lawson attack and of the Juno Incorporations more than capitalization was vas o of copper The Tho banks of or tho the country country country coun coun- try seem to be fairly bursting with will money awaiting Investment and even the notation flotation of of- worth o or of stock In a a. order mall house was wad speedIly speedily speed speed- II Ily taken In by the public The Tho amount amoun of these new stocks and antl bonds actual actually issued during the six months ending June 3 30 was but less than I Ifor for the entire year 1905 But it is no not I alone in the exploitation of new enterprises enterprises enter enter- that we find a reflection of or a plentiful supply of or monc money The customs customs customs cus cus- toms receipts at the port of or New York for the fiscal year car just ended reached the enormous total of or ai an Increase of more than over the thc previous yean The Thc Jul July dIvidend account of of- the principal Wall Wail str street et securities amounted to I and antl In all nil lutes lines of oC business s there thero I Is much evidence c of abundance of or mon mon- ey It IL is especially fortunate for the West Vest that the East Is IJ enjoying so much prosperity Just at ai this time as It has admitted of the financing of oC a n great many lar large e projects In this Utis country countr More millions have been heen secured for railroad work In tho the West est e t than In any any- previous period In the tho history of oC the country These new railroads and extensions ex ex- tensions are nrc being closely followed by capital seeking investment in other In In- In In fact there seems to be no limit to the amount of funds available for any legitimate undertaking that shows hows promise of gaining profit to the Investors In This tide of or prosperity will of course e c ase flooding flooding- some time and when the ebb sets In there will bo ho trouble hut but there Is nothing In the tIme present commercial and financial situation sit sit- that Indicates Immediate danger danger dan dan- ger cr and If the people heed the experience ex ex- of or the past thc they will have go good tl strong anchors out In readiness for the ebb when It b begins running i |
