Life, 1911-04-06 · page 37 of 76
Life — April 6, 1911 — page 37: what you’re looking at
What you’re looking at
This section satirizes how Wall Street's market reacts to the actions of wealthy industrialists and powerful figures. The piece mocks the market's hypersensitivity: Rockefeller staying home and counting money causes market fluctuations; Steel Trust president Farrell's battleship lobbying makes stocks rise; J.P. Morgan saving art works has beneficial effects; Yale University's influence (via President Taft appointing Yale professors to office) creates market movement. The satire reveals how disconnected market behavior is from actual economic fundamentals—mere rumors of wealthy men's activities trigger buying and selling frenzies. "Yale Preferred" stock satirically responds to the university's political influence-peddling. The page also includes a joke about humorists taking themselves seriously, and a decorative illustration titled "All Is Vanity" featuring an angel and ostrich feather, reinforcing the theme of human vanity and superficiality.
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Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.
HORTLY after the opening on Mon- day, Mr. Thomas F. Ryan took a trip on the subway. As he alighted at Bowling Green, he gave a s:atement to the press to the effect that he was highly pleased to see the subway so crowded and that he could readily understand why subways were so profitable. This was immediately reflected in the market by fluctuations. Owing to the rain on Monday, Mr. John D. Rockefeller stayed home all day and counted his money. He was pleased to find he had more than he thought, in- cluding a Columbian half dollar which he prizes highly on account of its mone- tary value. Although Wall Street had discounted Mr. Rockefeller, the market on Tuesday was sympathetic. On Wednesday Mr. James A, Farrell, president of the Steel Trust, returned from a short trip to Washington, where he went in the interest of a larger ap- propriation for battleships. He is de- termined not to be outdone by Carnegie in preserving peace. Upon receipt of this news the market became feverish. Mr. J. P. Morgan's influence was 681 plainly evident in the market on Thurs- day, when it became known that he was dividing his time between saving banks and saving art works. Several of the more active stocks made substantial gains, What the ultimate effect of Mor- gan’s attempt to corner the old masters will be is still a mooted point, but the insiders agree that it will, on the whole, be beneficial. The effort of Yale University to corner the Government was a disturb- ing factor in the street on Friday, when it became known that President Taft had appointed eighteen or twenty more Yale professors to public office. The market is hopeful, however. As only a few of the Yale faculty are left unpro- vided for, it will soon be over and then Wall Street can liquidate. Yale Preferred continued to go up on Saturday until the bank statement came out and put a stop to the whole business. IRST PROFESSIONAL HUMOR- IST: Why so sad, old man, Secoxo Proressionat Humonist: I am the énly one who takes myself seriously. “That's nothing. I am the only one who takes myself humorously.” ALL IS VANITY “TMAT'S CERTAINLY A FINE PRATHER.” comicbooks.com