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The Commoner.
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VOLUME 8, NUMBER 35
1 mrre "'$ "' v r7r2jr ' fW ""
STUPENDOUS PROPORTIONS OF STOCK
SPECULATION
On February 3, 1908, William E. Curtis, the stock, for example. The entire number of shares
woll known newspaper correspondent wrote for was sold over and over again the transactions
the Chicago Record-Herald this striking show- ; mounting to $536,441,300. ' But the largest
ing concerning tho stupendous proportions' of trading was in Reading. The outstanding stock
stock speculation: . of that road amounts to $70,000,000, but the
There aro several thousand professional total value of the trading in it during the year
gamblers in and about the stock exchange of reached tho enormous sum of $3,924,237100
Now York and hundreds of thousands scattered Union Pacific next. The stock of that 'corn
about tho country who aro dealing more or less pany amounts to $195,489,900, while tho trad
in futures, in agricultural products, in mining ing during the year 1907, amounted to $3221 -stocks,
railway shares and other securities, pure- 013,900 and the price varied from 183 on Jan
ly for tho profit they can shave off the trade. uary 5 to 100 on October 14
Tho shares of several largo corporations are Tho common .stock of the Northern Pacific
sold over and over again many times on the railroad outstanding amounts to $19,342,000
stock exchange every year. The amount of the yet the exchange last year amoiinted to $502,
transactions on tho floor are almost incredible. 504,800.. The stock of the Southern Pacific
During the year 1907 the records of the outstanding amounts to $197,847,200, yet the
New York stock exchange show that 195,445,- transaction in those securities on the New York
310 shares of stock were bought and sold. And stock exchange last year amounted to $713,-
this was a decrease ol 88,202,534 shares as com- 633,900 'AO,
pared with tho previous year, and of 07,595,072 Even so conservative a comnanv as the
shares as compared with 1905. . Pennsylvania is the sport of he 3L Dur-
The dealings in bonds amounted to a par ing the vear 1907 tho nnntnfinna vi
value of $527,160,350, a decrease of $149,126,- 14 on January's to S08U "on Novimber 4
150, as compared with 1906, and of $490,024,- and tho transactions represented a value of
070 as compared with 1905. $905,928,300. represented , a value or
The year 1904 shows an even greater The 'Amerfrnn QmpiHnir onrt nnr, ,
amount or trading In bonds, the total being panyha" a mofWMSo.OOO 25? aME
noarly double that of 1007. Indeed, the year actions In its nhnron S.t i. ,,tj T .
Just closed shows tho smallest total for ten $88905 200, tne price varyfng from 165 on
y0a,'8Tho foUowlng table will show a compad- JanUtUT ' t0 4onNoVember 18. ... .
son of annual sales of stocks and bonds upon the '
New York .Stock exchange for the last twenty THE FULL PINNER. PAIL i
years T
. , t In a letter addressed to the New. York
($) ' (palate) llZT th
1907. . ,v, 195,445,321: $ - 527,166;350- .fxIstem;G ' the unemployed, and stated that
1906 283,707,955. 676,392,500 everybody in my line of business will tell you
1905 263,040,993 1,018,090,420 llQw it is impossible to get help of any kind at
1904 186,529,384 1,036,810,560 any price."
1903 160,748,368 684,200,850. p0fflwi , ' '
1902 ,. v . .188,321 181 891,305 150 the follow? theSG faCtS' the World prints
1901. . .., ... . r. , .26,5,577,354 999,404,920 in0 ?t ? f nfr' n , '' . '
1900. . . 138,312,266 578,359,230 ,B RLiaJrn a,dd tha Mr Cable s business
1899 , .175,073,855 836,451,130 LI ki n an,d ?le emPloyment which he pre-
1898. . .;.:..;.. .112,160,166 922,514,410 f?!; T 7 Tj8 temPrary. The following ex-
1897 .. .. 77,47.0,96.3 544,469,930 XS! 2J!0, S re?ived by th Wprld In- a
189.6... H;v.vnv,vv,, 56,663,023, . ,,.39429,000' 'SKft B1 oUhS,.
1895...; :v.r... 66,440,576, (M , .519 142 100,. T ii"1 S,hW that unploymenVis. still
1894. . .-.v.4. . ... 49,275 736' 352 741 950 a VeiZ feal and gravo Problem:
1893 .' : . . .'. 77.984,965 30i;303l777 ,,, George J. Carter Mr. Cable wants, to know
1892.... .-.;.'... 861726,410 502 507 000 who are unemployed. You can tell him that
1891... 69,031,680 . 388,660 900 ? I mecllani in the world ar?. among
1890 .;;... 71,282,885 ' 400 825 120 Sj nTi ma,ny. ,ln,the bing traces, Tell
1889. . ....; ... . . 72,014,600 408 456 625 Jl Cab lo to uls butcher, his baker, his sa-
loon keeper. They will tell him verv rminiriv
During the year 1906 there were 118 days Mr. Cable may recall your recent "ad " wl lob
on which a million or more shares of stocks were 700 men answered, for a' Hob as a driver
bought and sold, while in 1905 that maximum H. B. Silversteln I've been loofdn fnr
was passed on 132 different days. In 1907 there work for the'last four months and vtS l
.wo .only forty-three days upon which the trans- any sight of same ive beekwilHnt t?LZQ
actions reached that amount. for half what I earnml hpf Til if ? Y0rk
was the first month in two years that dd not a crust to in J wou!d adly work for
contain at least one day in'whVS a mlllton get worl o Xd thwzhTAT m?0t
shares or more were transferred. t p n wSf' tnougji well recommended. 7
During &e week ending March 9, the big- get help of a"n1 kTTanv t' ',Can' not
gest of the year, 9,742,243 shares changed mus The snoellinS snow Vp n!; hiS.busInees
hands, and during the lightest week of the year ' alnw n J ZIa S S !' e can E me for
ending June 22 the total was i;228,869, rep- But T clr PiZLT0r at any kind of Pre.
resenting a, value of $1,22,889.900. wi? i InlS0 J9
On a single day, March 14 1907 a total of hnTS? ?' an Unemfloyed-r-My husband has
2 565,070 shares, representing a value o '$256, m, a dav's JorknfS f Y?tQr only tcS
507,000, changed hands. This was the busiest p??co L W rk 0nce In a while- H is a first
day of the year, but the liveliest Zull "occurred r Mrtto$ftf!n MVn' a mar"
on Saturday, January 19. when 1,060,362 shares eJBULf1 has mped
change hands between 10 and 12 o'clock in the V5S& SSST $&
tW!Zn$Elt VTVt t lH S "TV1 am PW for the
also interesting to study the Lffiialstocks! tblne g WiIHng to work at
For example, the entire capital of the Amalca- w t txth
mated Copper company was boucht hnA SHa i , l30Ti J am a machinist I hnv
Take Chicago, Milwaukee and ' St Pmii "' rino0J the Many I have been out-of worir"
amonntea to 18.970,5C7 . tJZZS'
.tised and answered advertisements for something
, N- T- H. "Whore are 'the unemployed'"
They are all over the city; they are not formed
into a club or union nor do they make loud talk
B. S. Tuttle I- am a mechanical engineer
haying a marine and city license. For the nnit
eight years I have followed the asphalt industry
running a steam roller. The Barber Asphilt
company, that usually has eighteen rollers work
ing, has this season but five at work The
Uvalde, that usually has eighteen to twenty
gangs, has but six how. The Sicillian company
formerly twelve, now has but six. I have been
constantly looking for the past three months for
a steamboat, stationary plant or steam roller
but havo failed to get one. '
Employed and Glad of It I would say to Mr
Cable that if in "his line of business it is impos
sible to get help at any price," his business must
be an unusual one. Perhaps he is a lion-tamer
or Arctic explorer, and ev.en then I think a
World ad would lead to the discovery of a few
unemployed.
S. W. I am out of work the last -four
weeks. I have worn out a pair of shoes in that
time looking for work.
J. C. On the advice of friends I came over
from England to try to do better in this busy
country, but I find in my own line of business
things are as bad if not worse, and as I have
no influence or friends here it seems a case of
out of the frying-pan," etc. I have a young
wife with me.
t. A A'Ny family are young and unable to
help themselves and I often feel ashamed of
myself to think that, being able and strong, I
go out day after day and can not get the where
withal to feed and clothe them as they are en
titled to. There are a number of my acquain
tances In the same boat. ' .
M. B. I have tried every- kind of work
where I thought I had any kind of chahqe, and,
If not directly refused, have been told to come
around again when things looseri up. Things
seem to be as tight now as they were six months
ago.
NOT AN HONEST THING
Judge Grosscup, of the federal court, in
speaking at Grand Rapids recently, took occasion
to condemn the anti-injunction plank of the re-1
publican platform. He said: . w . . ' . T
, ,. , "When I find lodged there (the platform)
a declaration put in only to catch votes, I am
afraid people will doubt the sincerity of tho
whole platform. This declaration won't catch
any labor votes. It is not an honest thing to
do. I know the laboring men; know the gen
eral honesty of their purpose, and know that
they are not to be caught with chaff. And this
(the anti-injunction plank) is chaff "
Continuing, he said that if "the anti-injunction
plank sp-called, of the republican platform
were written into law, it would give nothing
more than has always been the custom of the
courts."
,Jll(15e1GrOSi3Cup is right The Plai Pre
tends to hold out a promise to the laboring man,
but it is, after all, no promise, at all.
"THE GREATEST QUESTION NOW BEFORE
THE AMERICAN PEOPLr."
In a statement given out at Hot Springs,
Va., Saturday, August 4, Mr. Taft said-
"Speaking generally, I believe the greatest
question now before the American public is the
improvement of the administration of justice
civil and criminal, both in the matter of its
prompt dispatch and the cheapening of its use "
Referring to this statement the New York
World asked Mr Taft to explain why the repub-
Jlclan..5at,onal P;atform makes no reference to
this the greatest question now before the Amer
ican people."
ADLAI E. STEVENSON
A,iiniWGQfthe democra1 o I"in6fs nominated
Adlal E. Stevenson as their candidate for gov-
th? nf J0!' M' Ste7enson's nomination unites
the party and gives It a fighting strength that
SarnfeSnWellHf,r b future' He IB thfeandi
lm fnLfUnI.ted.,?emocracy wh0SG b"les h
wnrn SV steadily and faithfully for many
tn JSk wcord in public life commends him
?miv Wle of hQ I country, and espe-
Sni h2? th0p5Ple 2f h,s state. Wherever he
1 IffiW118 measured up. to every
JSnf uAf! Stevenson carrying the ban
Jli.SU.nit!d aia militant Illinois democ
racy, victory should be won next November.
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U.mJfikXr Ukta
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