MR MORGAN'S FINANCE.
It is the certainty of the coming of the reaction in the United States that causes the huge Morgan pyramid of paper values to be regarded the word over with apprehension (remarks the London "Daily Mail"). The Steel Trust is over-capitalised. Its constituent businesses were acquired at the best possible letimato of their worth and passed on to the public at a huge advance in price. The huge Morgan railroad concerns have to bear a burden of unremuntrative capital. The Atlantic Shipping "comhine ,, is an almost ludicrous example of overcapitalisation. There is absolutely no relation between the paper value of the company and the actual commercial value of the ships wJiich comprise the company's possessions. These things are r&ognised by men of business the world over, and the fiifins of general apprehension are visible every day.
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Press, Volume LX, Issue 11499, 4 February 1903, Page 7
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139MR MORGAN'S FINANCE. Press, Volume LX, Issue 11499, 4 February 1903, Page 7
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