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Updated: June 12, 2025
Every concern they bought was overcapitalised to begin with; I doubt if two hundred million dollars' worth of honest dollars was ever put into the Steel Trust properties, and they capitalised it at a billion, and now they've raised it to a billion and a half! The men who pulled it off made hundreds of millions, and the poor public that bought the common stock saw it go down to six!
Instead of disclosing this, he pretended craftily to be encouraged by the mere generally hopeful outlook in all lines. Western Trolley, too, might be overcapitalised, and Union Cordage might also be in the hands of a piratical clique; but the demand for trolley lines was growing every day, and cordage products were not going out of fashion by any means.
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