Thomas Gibson's Special Market Letters, 1908Gibson Publishing Company, 1909 - 185 pages |
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Thomas Gibson's Special Market Letters, 1908 (Classic Reprint) Thomas Gibson No preview available - 2017 |
Thomas Gibson's Special Market Letters, 1908 (Classic Reprint) Thomas Gibson No preview available - 2017 |
Common terms and phrases
advance Amalgamated Copper Co American amount Argentina Atchison Australasia balance balance of trade Baltimore & Ohio banking credits bonds bull market bushels buying call money market capital cash cent coal commercial commodities common stock consumption Convertible Bond convertible into stock cost cotton crop decline demand deposits depreciation dividends duties earnings effect estimated Europe exchange exports fact farmers figures fluctuations future gold depreciation gold production gold supply important increase index numbers influence interest investment investor issues January June letter loans manufacturers metal mill mining money market months movement operating expenses output Pacific panic Pennsylvania percentage period pounds of copper present probably profit purchases railroad railway reason recent reserves rise roads Russia securities selling Selwyn-Brown silver Smelting sold speculation statistics stock market stock prices surplus Table tariff tariff revision THOMAS GIBSON tion tons Total trade United Kingdom wheat York
Popular passages
Page 132 - Its value is well known as a means of avoiding or mitigating catastrophes, equalizing prices and providing for periods of want. It is true that the success of the strong induces imitation by the weak, and that incompetent persons bring themselves to ruin by undertaking to speculate in their turn. But legislatures and courts generally have recognized that the natural evolutions of a complex society are to be touched only with a very cautious hand, and that such coarse attempts at a remedy for the...
Page 9 - Act, or for whom as consignor or consignee, any such carrier shall transport property from one State, Territory, or the District of Columbia to any other State, Territory, or the District of Columbia, or...
Page 9 - States," approved February nineteenth, nineteen hundred and three, and any amendment thereof. From and after May first, nineteen hundred and eight, it shall be unlawful for any railroad company to transport from any State, Territory, or the District of Columbia, to any other State, Territory, or the District of Columbia, or to any foreign country, any article or commodity, other than timber and the manufactured products thereof, manufactured, mined, or produced by it, or under iis authority, or which...
Page 109 - Whereas great inconveniences have arisen and do daily arise by the wicked, pernicious, and destructive practice of Stock-jobbing, whereby many of His Majesty's good subjects have been and are diverted from pursuing and exercising their lawful trades and vocations, to the utter ruin of themselves and families, to the great discouragement of industry, and to the manifest detriment of trade and commerce...
Page 126 - Both the writer and the reformer must reckon more than they have yet done with the fact that speculation in the last half century has developed as a natural economic institution in response to the new conditions of industry and commerce. It is the result of steam transportation and the telegraph on the one hand, and of vast industrial undertakings on the other. The attitude of those who would try to crush it out by legislation, without disturbing any other economic conditions, is entirely unreasonable.
Page 130 - People will endeavor to forecast the future and to make agreements according to their prophecy. Speculation of this kind by competent men is the self-adjustment of society to the probable. Its value is well known as a means of avoiding or mitigating catastrophes, equalizing prices and providing for periods of want.
Page 111 - States. For the moment the price of gold fell, and people rejoiced that the plans of the speculators had been defeated. But a short time later, when the war between Prussia and Austria caused a demand for gold in Europe, there were large exports of the metal, and its price rose by natural causes. The United States was obliged to buy back, at a decided loss, a part of the gold" which the Treasury had so unwisely issued.
Page 111 - ... grasp of the conspirators. The foundations of business morality were rudely shaken, and the numerous defalcations that shortly followed are clearly traceable to the mad spirit engendered by speculation." Black Friday and its evil consequences were due to the existence of a bad currency and a fluctuating standard of value. The Gold Room was at that time a necessity. Business could not be carried on without it, but it offered temptations and facilities for gambling which could not be resisted...
Page 34 - ... previous reports, have continued. During the year there were shipped for export 1,014,082 tons of steel commodities of various kinds, a decrease of 6 per cent as compared with the shipments in the previous year. The gross receipts for the 1907 shipments, however, exceeded those for 1906 by 16 per cent. The average mill price per ton received for all exported materials 'was only 7£ per cent less than the average price received for all domestic shipments.
Page 130 - Gambling is a transaction in which one party pays over a sum of money from his own wealth because of the occurrence of a chance event. Speculation is a transaction in which one acquires by purchase the right to a certain property ('not specifically designated perhaps), and gains (or loses) for himself the difference between the value of the property at the time of the sale and its value at the time of purchase. The difference is a significant one. In gambling one party must lose just what the other...