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From: dave@fluke.UUCP (Dave Van Ess)
Newsgroups: net.invest
Subject: Interesting Fact
Message-ID: <603@vax2.fluke.UUCP>
Date: Thu, 9-May-85 14:07:50 EDT
Article-I.D.: vax2.603
Posted: Thu May  9 14:07:50 1985
Date-Received: Fri, 10-May-85 06:33:05 EDT
Distribution: net
Organization: John Fluke Mfg. Co., Inc., Everett, WA
Lines: 23


	"Every school kid knows that crafty Peter Minuit put
	one over on the Manhattoes Indians in 1626 by buying their
	island for $24 worth of doodads. But Solomon Brothers'
	Sidney Homer, author of 'The History of Interest Rates',
	provides figures that show that the Indians got the best
	of the deal. Had they taken a boat to Holland, invested
	the $24 in Dutch securities returning 6 percent per year
	and kept the money invested at 6 percent, they would now
	have $13 billion. With that sum they could buy back all
	the land on the island, and still have $4 billion left for
	trinkets. Or the Indians could keep the money invested at
	6 percent so it could continue yielding $780 million a year,
	without the risk of doing business amid urbin decay.
	 The question isn't who owns New York. It's who the
	hell wants to?"

				-Forbes June 1,1971, p. 32


						Dave Van Ess
						John Fluke Mfg Co
						Everett WA