davidaulloa/AmericanStories huggingface dataset:
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

mont Is veritable competitor with the
three monster corporations, line of
transport which cannot be amalgamated
with the others because 1t Is not akin In the
nature of its traffic
Another point the Central Vermont Is
competitor because she now controls q con-
tinuous line from Chicago to the sca-board.
If single link on that line should pass out
of her control, IL so much as one mile of
her road could be owned or controlled by
either of these great corporations, corn
could no longer be laid down in Rutland or
Bellows Falls five dollars per car cheaper
than at Schenectady, but we should have
TO pay here fifteen dollars per car in addi-
ton to the freight to Schenectady.
Hence it will be seen that for competing
lines to be competing lines in reality it is
necessary that the control of each, from
one great terminus to the other, SHOULD be
substantially in the hands of one corpora
ton for this unity in interest is necessary
to unity in control.
The three corporations could well afford
to buy the Ogdensburg and sink it, track
cars and all on the bottom of Lake Cham
plain, il by that they could rule out the
Central Vermont from her competition
founded upon natural not artificial basis.
If The Eric canal could be rented if it
were purchasablc would the
freights then be ? If the Central Vermont
were purchasahc at its real present value
what would our corn and flour cost us ?
VI will he seen. then, that for compcti-
ton 10 bring down rates to the measure of
reasonable profits and nothing in the long
run will carry them lower-it is necessary
that either the competitors should he too
| numerous for consolidation or too unlike
for amalgamation.
The available competition. competition
which would certainly, for wherever such
Il condition exists low rates of profits have
always ruled, lower the rates of freight
TO meet all reasonable wants, is water com
nlunicatiOn. free from the possibility of
| monopoly hy corporations \ water COM
| muncation, to answer all purposes, should
be by channels large enough not to require
rcshipmcnt between tcrmin, to admit of
the use of the cheapest and most rapid
motors and not liable to interruption by
reason of drouth or ice. Such a channel
would solve the whole problem. That such
a solution will I've reached some of these
days. is inevitable. In the mean while
something can be done by lettering the
condition of things with our present means
Of Transportation. OF this we will speak on
a future occasion.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
,eRMoNTEus AT TEE FRONT.

We find in Stockton (Cal. daily paper,
of recent date, speech made in Mozart
Hall in Stockton, by our old friend, II. +.
Dorrancc. 1t seems that he has been put
forward by his friends in Stockton as
candidate for the legislature, and tha'' rs
usual. his political course was misreprc-
sentcd. The speech is a good one, treat
ing partly personal, partly state and part
~ ON national politics lie is thoroughly
republican. vet he handles railroad mono
polics. crcditmobilcr and salary grabs with
that severity that they deserve We like
the defiant and manly way he stands before
hi. constituents and hurls telling truths
among Them We shall never expect to sec
MIR. Dormncc down upon his knees beg
ging for votes. and sacrificing principle for
power. Let the people send such men MS
Mr. Dorrancc to the legislature 10 make
laws. and reform will be commenced,
which will make the supporters of gigantic
monopolics, whether national, state, or in
lividual. quail and trcmhc, and hide their
guilty faces from the glare of public opin-
ion. The rciormatory seed which is now
hcng sown. has already shown itself in
various sections of our country, so that
the guilty. thicyi-h treasures OF cities. and
counties, and states, who have seemed TO
flourish and slime in their short butterfly
life, have been obliged TO disgorgc their ILL
gotten gains, and stand before the commu-
ait, AS fclons. Let the work go on until
.aScality and il-golten gains shall he
looked upon and treated rs a crime, and be
obliged 10 take back seat, instead of lis
being put forward as stepping stone to
political power and prcfermont
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
fsObbcrI In Grcenbmsh.

The Grcenbush Gd'ettc says that during
Tuesday night or Wednesday morning the
office of Duncan MacFarlanc village attor-
ney, was entered by burglars and robbed
of the papers in every important village
suit. The Gazette says the papers can all
be replaced as Mr.. MacFarlane's lnw regis.
ter will be a sure guide for their renewal.
and the attorneys opposed TO him will OF
course furnish him copies necessary to use
in such suits. The matter will be given to
the Albany detectives. No person but a
mean, malicious one would attempt any
thing of this kind, as the papers are of
no value to any one but Mr. MacFarlanc,
and 1t is evident that they were simply
taken to embarrass him in the conducting
of some of his suits. If the person or per-
sons are caught, there is no doubt but that
the entire bar will take much interest in it.,
as other and similar eases have lately hap
pcncd in Albany.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
'Fisc Eddy Family.


We cut from the Springfield Repu6iican
of the lith inst. the following extract
from nm interesting corrosnoraoroo, 90 Ola,
'''-''i''"'''''' ~ ''''.
paper written ny lady whose views of
Saratoga and its adjoining country, so finely
written and described entities the oxtroct
hoIo,, 49, t,a ,aI,, -. -"
'''o" 4" III" ''''' consideration ol oNr
readers
At Rutland, we took carriage and rode
six miles to Chittcndcn. to see the wonder
full manifestations Of the Eddy boys. CT
cerone is Spiritualist. am too wicked
to become one and think must be ma
tcrialist. I've always believed Spiritualism
to he a malady of temperament, of super.
stition or ignorance, or the result of dis
eeased state of health and morbid mentality.
went there to please friends. but with q
ssneer in my heart but when | saw spirit
friends appear in bodily form, and could
touch them and talk with them again and
again, and in the light then pinched my
sell, and asked If was intoxicated or in
sane. But I'm sure, that however strong
minded may be, or however prone to the
belief and practice of equal rights, was
never yet so strong minded as to get drunk.
saw distinctly people whom knew to be
dead. They walk into the room, clothed
in ordinary dress, sometimes several to-
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
PROFESSIONAL.
Y T. VI o V A l.
De. :. ". sMYrH,

IL
Dr.. :. W. SMl I'll,
Iayluq established himself ncrmane,,tt, 81.
Rutland. and for the better convanisnce ~ ,,.
na,ients no has re,novoa ,is mi ,,.,. a..
sordwell uousa 70 the
o,v,s, ~,r,,>,., u... u,.
bAAIhh NAIioNAL BANk BlOth,
,.hore ma ,oov ha c,nsuit.t ,.u,. ,,..., ,,
~ ~ ny ~ ''""' '0N0'P' RI.
uays) iree Oh chafBe.
Onice hours 9 o. IN. to nnletoTp IN
CARD.
~, ,,,,so ,,.,, $3.50, A., , -. .
4" 'h"9F VIM ihu! DE uuiacquaihlen WIN the
particulars OF my practice, brief explanation
might not be unwelcorne. During the whole OF
my professional career. my time and attention
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
The Midland Road.

The order granted in the United States
Circuit Court by Judge Blaichford direct
ing the New York & Oswego Midland Rail-
road Company to show cause why it should
not be declared bankrupt, was made re-
turnablc at noon Thursday. On the ap-
plication of creditors Judge Blatchford
appointed Abram $. Hewitt receiver of
the Company's effects, Messrs. Charles L..
Perkins and Julius L. Herman, each be-
coming surety in 100000 for the faithful
performance of his duty by the receiver
Mr. Hewitt took formal possession at three
o'clock at the office, No. III Liberty street.
An adjourned meeting oil the directors had
been held earlier in the day, but beyond the
formal surrender Of the books no action
was taken.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

James Quigley of Rondout, n canaler,
was found drowned in the Hudson at New
hurgh, Wednesday night. An inquest is
in progress.
Justus Griffin of Cornwall, Orange co. y.
y. arrested on charge of incest, attempt
ed suicide Thursday morning by cutting
his throat, His recovery is improbable.
Tuesday morning William Hickey, while
engaged in blasting at the lIoosac tunnel,
was struck in the head by n stone and in
stantly killed. Hickey was twenty years
old
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

The New York IL CANADA.-Thc fail.
urc of Messrs, Geo. +. Harris d Co., con-
tractors, on the New York and Canada
railroad has inaugurated n new era in the
grading OF the road. Never, since the
work was first commenced, has there been
such rapid and gigantic strides towards
completion as are now being made under
the auspices of Gen. Devin. The road
will doubtless be completed the coming
winter,
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

Thursday afternoon IA serious accident
occurred at Ransom's foundry, which may
entail II loss of several thousand dollars
1t appears that while the cupola was filed
with hot iron, the pump, which is worked
by an engine for the purpose of driving the
necessary air into the vast furnace, broke
down, the effect Of which was to stop the
intense heat requisite 10 melt the rough
material, which in few moments stopped
from running off as wanted, and gradually
grew cold in the cunola
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
The New Manual for the senate

A"o w" "ahuul fOr the senate.
MIR. Mcdonald, chief clerk of the United
States Senate, has been engaged during the
summer in compiling new manual of
rules and regulations, which is now com
pleted. The compilation embraces all rul-
ings of the chair, which by practice and
usage have become the law of the Senate.
This compilation will be submitted to the
committee on rules for approval, and must
be ratified by the Senate before it is adopt
ed. One object of the compilation is to
avoid the frequent necessity of reference
TO precedents. Two new rules are suggest
ed one relative to the previous question
and the restriction of debate second
with respect to facilitating business upon
the private calender.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

SERIOUS Accident. patsey Sheehan and
Ieh Miller were seriously injured by the
premature explosion Of blast at Willards
ledge, near Burlington on Thursday morn
ing. Sheehan was burned about The face,
and had both hands and one leg consider
ably hurt, while Miller escaped any
severe injury, although somewhat burned.
Both men are doing well.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
From the Danbury News.
The Book Canvasser---Au Grafton
interrupted.

While Mr.. and Mrs. Edwin Pawling
were riding through Wooster street, Friday
afternoon, they were stopped by stranger
with n book under his arm, who came IN
to the wagon and said that he had called
at their house, but did not find them at
home, and took the liberty of addressing
them now. He explained that he was can.
wasting for the neat little work entitled
"lIelps for the Home Circle" being col
lection of the thoughts of the best minds of
the age, work that was adapted to a
larger circle of readers than any
other extant, and one which
must necessarily improve the tone of do
nestle life, add to the refinement and intel
llgencc of society," and fill the hearts of all
with longing for the purer things of
just then, Mr.. Rawlings horse stepped
ahead, and dragged one wheel of the wagon
right over the foot of the speaker. With
howl OF agony the miserable man dropped
to the ground and then Immediately sprang
up again, and taking the injured member
IN both hands, and still bowling dismally
hopped across TO the sidewalk. Mr.. Paw
ling waited reasonable length of time, but
seeing that the man showed no intention of
resumlng the topic, he drove ON.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

Allen & Drew, q Merchants Row, are
selling goods at cost for 80 days, TO close
out stock Hats, Caps, Furnishing Goods
aud Ready Made Clothing. Good Goods
at very low prioes.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
TIE AMERICAN cgusr-

Jay Cooke has always been liberal man.
During the war he contributed AT Narous
times TO the recruiting fund and to the Sanity
and Christian Commission nearly $500, 900.
His hospitality is unbounued, and at his
beautiful summer house on Lake superior
and his elegant villa at Chelton Hills, on
the outskirts Of PhiloA"'' 49, ~ ''''
famed in princcly style nearly all the celc-
......,., ,.,.o nave figured in This country for
several years past. Among the guests at
Mr.. Cookies hospitable establishment the
President has always been the most favor
ed. BY the following paragraph from the
Wilmington C0mmeycidl of Sept. l.th. it
will be seen that with financial ruin staring
him in the face Mr. Cooke could, only
twenty-four hours before closing his bank.
do graceful honor to the Chief Executive
of the nation:
President Grant had reception at Mr..
Jay Cookies residence At Chelton Hills last
evening.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

the Treasury, would allow the agent no
commission, Mr. Cooke received compen.
sation only for the sale of 1903, 900 900,
notwithstanding the fact successful plac-
ing of the whole loan OF s5l4 1000, 900 was
due entirely to him.
After the establishment of the national
banking system Secretary Chase tried the
experiment Of floating a per cent ten
forty loan without the aid Of his Philade-
phia agent; but the attempt having proved
failure, he issued the l30 ihrcc-year
bonds. the interest payable in currency,
and the the bonds convertible at maturity
into SEQ six per cent bonds. interest pay
able in gold
1nf STATE BANKS
were making strong fight AGAINST the new
system. the gold value of the currency wa
rapidly decreasing, the government was
pinched for money 10 carry on the great
struggle which now 1884 seemed no
nearer the end than in 1852, and Mr. Chase
resigned the portfolio. Gold bounded
iIbiii % w if'b stIltl ~ AIl~ir
impending. In the hope Of improving the
condition of affairs and of rc-cstablishing
confidence in the governments ability. Mr..
Fesscndcn, the new Secretary of the Urea
call was quickly responded to. and with
full power to act Mr.. Cooke once more sci
the machinery OF his well tried system in
motion. Not only iii he rcorganilc his
army of suh-agcnts. and flood The country
with advertisements of tho 80 bonds he
employed skilful writers to demonstrate
the advantages of investing in government
securities, and under his eye and his dircc-
ton sam Wilkcson wrote the celebrated
pamphlet, IA National Debt National
Blessing financial paradoN that not
only attracted the attention Of ,hr world.
but aided very materially in supplcmcnting
the more prosy advertisements. and in
bringing in thousands Of eager investor,
with their millions Of cash lie extended
the sale of the bonds 10 Europe, and in
1865 the capitalists OF that country held no
less than ~2O0, 600. 0Do Of them, nm amount
subsequently increased moro than 100 per
cent. Within one gear $3.50, o0n 900 of the
40 bonds had been placed. the armies Of
the republic had been comfortably fed and
clothed and splcndidly armed. and the war
had been brought to an end with the row
| eminent intact.
Mr.. Cooke has been engaged since the
close OF the war in dealing in Government
securities and in negotiating loans for great
corporate enterprises. He ha. been for Il
long time largely interested in the NorIh
| Pacific Railroad. The different branches
| Of his house in New York. Philadelphia,
| Washington, and London, in which The
Hon. Hugh McCulloch, late Secretary of
the Treasury, and other fnancicrs are inter
cstcd, were all, up to n few days ago. look
ed upon as being too well ballastcd TO he
shaken by the strongest monetary convnl-
| sion.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
TREMENDOUS EisK

A TREMENDOUS EIsk
|, was bold and most daring financial
undertaking, the like of which has never
been recorded in the annals of finance. One
of jay Cookies biographies says
The risks were frightful. the compensa-
ton, if no sales were made. nothing if
they were effected, iivc-cights Of one per
cent on the amount sold which was 10
cover all commissions 10 sub-agcnts, adycr-
tising. correspondence, postage. clerk hire,
express fees, and remuneration for labor
and superintendent. The government as
sumed no risks. and if the loan failed to
take with the people, the advertising and
other expenses alone would swallow up
the entire fortune Of Mr.. Cooke and his
partners. The commissions received by
European bankers for negotiating such
loan themselves assuming no risks, are
from four to eight per cent. and there was
not another banking house in the United
States which would have taken i, ON the
terms accepted by Mr. Cooke; but his
country was engaged in deadly strife for
the preservation of its liberties it needed
money in vast sums to conduct this gigan-
tic struggle successfully, and if it did not
have it promptly the great sacrifices al
ready made would prove in vain. Some
one possessing of ample fortune must have
patriotism enough to take the risk. great
as il was, and, if it must be so ruin him
self in the effort TO save his country. In
the Secretary's rendering him this position,
first and unhesitatingly, there seemed to
be call of Divine Providence on him to
undertake tins great responsibility lie
accepted it as a Christian and patriot. and
it is no more than the truth to say that in
the history of the war no enterprise was
undertaken from higher motive or from
lofticr sense of duty and patriotism.
THOUSANDS OF WIDOWS MITES.
The success that crowned the unceasing
efforts of the banker was wonderful. So
skillfully were the mullifarous details of
the business managed that every man,
woman and child. however poor, how far
soeyer moved from great banking city or
other mart of trade, was enabled to aid in
furtherlng the good work. He had an
agent in every village and standing adj
vertisement in every newspaper, and the
expense was enormous. His partners be-
came anxious, hut Jay Cooke never lost
heart, never once allowed doubt of his
ultimate success to enter his mind. More
than $500, 900 had been expended by the
cool-headed enthusiast before the returns
began to come in but when they did come
1t was with such II rush that the clerks of
the house were kept busy day and night for
days and days together in entering the re-
ciepts, and toward the last it became neces-
sary to announce that no more bonds could
be sold after certain day and hour Even
after all the bonds $500, 100000 worth
had been taken the money continued to
pour in, and Mr.. Cooke was forced to issue
and Congress to legalize 1900, 900 more.
Great rs was the success OF ths--the
greatest operation of its kind on record
II is said that Jay Cookies immediate pecu-
mary profit was very small. Through the
close economy of Secretary Chase, who,
when bonds were purchased directly from
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

VI A l y = 4 X l. Il n
DWELLING HOUSE AND LOT
For SA LIE.

The subscriber offers his House ana Lot, stu
ated on Prospect street. for sale The house
was erected within a few years, and has elghi
rooms. Water In the first and second stories,
and garden under good state or cultivation.
The premises win be sold cheap.
sept9d4m G.. L. YOUNG.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

The firm ~ Jay Cooke Il Co., was cs-
tablshed in JANUARY, 1864, by Mr.. Cooke
and his brothor-in-law, Mr. Moorchcad.
Their first notable operation Wa, the Sc
curing of subscribers to The government
loan in the spring Of that year. Their next
was the placing Of the Pennsylvania war
loan at par. These successful negotiations
attracted the attention OF Secretary Chase
and having failed 20 secure adequate aid
from the associated banks of the country,
he sent for Jay Cooke, and acting upon
the suggestions OF the young nancier, he
determined TO Try the experiment Of pop
ular loan. and appointed four hundred
special agents in the different cities and
large towns to aid him in negotiating ii.
JAY Cooke * Co., we're selected as the
Philadelphia agents They organized a
system which resulted in the capitalization
of the loan, and in a very short time Sc
cured the hearty cooperation of the pco-
pie. When the funds were called in it
was found that only 100000, goo had been
subscribed. but of this sum onc-third was
returned by the Philadelphia agents. The
wants of the treasury were not supplied,
and the expenses of the country, then in
the midst of war, were increasing al a
rapid rate. Secretary Chase again called
Jay Cooke and other able fnanciers to his
,'I, 'i',Ni it.i
cooperation Of the monicd institutions
which they represented, he placed the ne
gotiation of the five hundred millions of
twenty-five bonds just authorized by Con-
gress in the hands of Jay Cooke, who at
once organized his plans for the sale Of the
loans
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
for SALE.
CHEEP FOR SALE.

=
Pedro" and "Improved Paular" breeds, belong
Ing TO the estate OF the late Joseph Sheldon OF
Fairhaven. Also so fine lambs, rs yearlngs Ia
fine condition for shipping; 100 fine breeding
ewes and stock bucks. WIN be sold altogether
or In lots 10 suit customers. For further partlc-
ulars, call upon, or address
sepi9dtf Fairhaven. Vermont.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
The History of SAY Cooke a Cos.
spnIxinp QUonsc.


Up TO the spring of 1861 there were but
few even in this country who knew of the
existence of such man as Jay Cooke but
when in that year he and his brother-in-
law. William G. Moorehead, in answer to
the appeal Of Government struggling for
its life, procured and forwarded without
compensation large list Of subscribers to
the first loan, and afterwards negotiated
the great war loan OF Pennsylvania, the
name became famous. From that time
forth Jay Cooke was known, Mt least by
reputation, in every counting house, in
every bank in the world
Jay Cooke was born at Portland, Cnow
Sandusky), Ohio in August, 1891 At an
early age he manifested strong desire to
go ont into the world and do for himself.
and when only thirteen. his father hcing
at the time in pccunary embarrassment.
the hoy without the l>nowicdg, of his
parents engaged rs clerk in ncighboring
store, and thus began business career
which has had hut few parallels. Before
he had reached the are of seventeen he en-
tered into the employ of the banking firm
Of l.. W. Clark Il Co. OF Philadelphia, and
so fayorably were the partners impressed
by the earnest zeal of their young aid that
in two or three years they unhcsitatingly
entrusted him with full power of attorney
! To- Use the name Of TIE firm. In 1912, when
| lust Of ace. he was admitted as n partner
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20
CIITTENDEN COUNTY.

tcv. l.. .. Brastow, the new pastor of
the White street Congregational church in
Burlington. commenced his labors on Sun
day last.
The Vermont Medical journal is 10 be
published, commencing Oct. lst., by Dr.
j. NJ. Currer, at Burlington.
The son of Prof. McKcndrcc Petty is at
The head Of the High School at She6urn.
The recent arrivals of lumber at Buring-
ton from Canada, have been very large, and
the yards along the lake shore for nearly
two miles, are well stocked for fall and
winter trade.
The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-20

Work has commenced in earnest on the
Lamoille Valley railroad at Swanton. The
contractors are now in Canada looking up
help. They purpose to put several hun
dred men at work as soon ms possible.
Hon. John X. Whitney of franklin. for
mcrly assistant judge of the County Court,
and II prominent citizen of Franklin coun-
~, died on the 18th inst, after lingering
illness
The annual Methodist camp meeting of
the st. Albans district opens on Monday of
next week at Fairfax.