davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-12
financial.
HOUSTON & TEXAS CENTRAL
RAILWAY COMPANY.
Reorganization.


Under Agreement OF Dec. 20, 1857.
Of AID AFTER FRIDAY. THE 10TH INST. IT is
PROPOSED TO DELIVER TO THE HOLDERS OF
CENTRAL TRUST COMPANY OF NEW-YORK REOR-
GANIZATION CERTIFICATES.
FOR EACH $1,000 DOLLAR CERTIFICATE
Issued FOR ,IAIN LINE AND WESTERN d.
VISION FIRsTS.
81 900 new pr first land grant gold bonds
go yoars from July 1880. Interest guaranteed by
Southern Pacific Co. July l. 1891, and subsequent
coupons attached
$40 cash FOR July /. 1885, July l. 1887. in
elusive.
FOR EACH 81 900 CERTIFICATE ISSUED FOR
CONSOLIDATED MORTGAGE BONDS.
81 900 new consolidated mortgage per cent gold tonds
duo Oct. t. 1912. Interest guaranteed by the
Southern Pacific Co. Aprl l. 1891. and subsequent
coupons attached.
800 April 1889 to October. $780, IN
elusive.
$50 new Der cent debenturcs (due 10 years Oct
l. 1881 carving interest from oct. l. 1890. Prin'
cpal and interest guaranteed tho Southern Pacific
$50 40 for $3.50 debcnturcs Oct l. 1857
to oct l. 1890 inclusive, at per cent per annunl'
On md after Monday. Feb. 1891. II IL proposed TO
deliver TO the holders Of Central Trust Company oil
New York reorganization certificates
FOR EACH CERTIFICATE ISSUED FOR GEN.
ERAL MORTGAGE GOLD BONDS DUE APRIL L.
1921
II 600 new per cent. General Mortgage cold Bonds
inter = guaranteed by the Southern Pacihc 'ol'
pany April l. 1891. and subsequent COUPONS attach'u'
s12O cash for interest /. 1887. To october 1890
$40 new pcr cent Del enturos due from Oct
l. 1sS7. principal and interest guaranteed BY the
Southern Pacific Company. carving Interest from
oct. /. 1890.
sf4 40 cash Tor interest 500 Debenures. oct l. 1887
oct. l. 1890. inclusive at per cent pr anh"'"'
crxrnAr TRUST COMPANY OF xt.w-YoER Trustee
ny 4. p. OiCOTT.
President.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-12
Dipioeno Notices
CANADIAN PACIFIC RAILWAY
DIVIDEND NOTICE.

hslf'yearly dividend upon the Capital s.ock =,
Company, at the rate Of per per annum viii @h
on February IL next 10 shareholder. OF record m Dr., a
OF this dividend one and a half per cen, f. ,, " osN
nuity provided for until August 1888 by de,s, a.
the Canadian Government ard per cent is ,, ''~
surplus earnings OF the Company. " ns
WARRANTS FOR this dividend. payable AZ m. A..
Of the Bank Of Montreal, 50 Walst. Newyo,L EN-
delivered on and after February II at that ,o.a "
Shareholders on tho New-York Register '
WARRANTS OF European Shareholders on tho ro.,.
Register will be payable in Sterling at the ,,,
shilings and one penny hafpcnny rs 1Ldl no, Az,
less income tax, at the Bank Of Montreal % 49,
Lane, London, and will be delivered on or about tho
date at the office Of the Company. l Queen yic,or
London, England. ~
TIE Transfer Books OF the Company will be coso, .
London Mt 3 O'Clock p. m. FRIDAY, January Q ana -
Montreal and New-York at the same hour on & ATr-n
DAY, January "a, and will be reopened az 10 o,clos
a. m. on WEDNESDAY, the 18Th February next
BY order OF the Board
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-12

Surplus Sli1i2 LOO SoV' 81 "! TOO u
Pct ocn: OF deposits. 2s.3f -o'f'
The bank exchanges at the Ncw-iork Clearing House
and the stocks NewYork Stock LNchangc last
week of the preceding two wear, compare
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-12
THE MONETARY SITUATION

Jan ~ 80. Jan. Il, 30. Jan. 10. 81.
eel ouros ,J s eco 5i4 S60j. C9l .1l9 @6J $50 ~
|, .inrn. IN slG.25l l.j9H. 10 .lSuoeI
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-12

The statement. January |, 1891, Of the German
American Insurance Company shows total assets
Of Sj.j4S,4ii SO, and net surplus Of $685.
13J 81.
Jones d Fale. investment bankers. No. so
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-12
Security the First thought.
Profit Afterwards.
THE MERCHANTS NATIONAL BANK,
TOHt WORTH. Nt~, . ,
H. i!iU-i'r It- n''I ff IiI. l'''
---L ----L- ~ - ---- - ~ ~. ----- :.
% taken I' ritiIcn- OF Fort Youth. al par.
INV ny M ND- N LII. III HAlE.

OF t0ii WORTH, ILNA-, ,., 20 ,,..-
whose capital 90 $500 --''''' u
cent pl"i rrt rHupi'tI'. t.....nH -'' -'' ~, :.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
TERMS OF THE DISPATCH.
PITTsBURG. THURspAY. NOV. 19. lsgI.
PAGES
TIE COMING TAX RATE.


A cotemporarv which on Tuesday pre-.
dicted thirty-mill tax rate, undertook to
back it up yesterday by arguing that 81
mills will be needed to make up the def.
cheney from this year, 10 mills for the
street Indebtedness, 21z mills to make next
years revenue equal to the estimates OF
last, and possibly an increase above that
TO meet the cost of fire boat, water tower,
new Central station and other indefinite
proposals for enlarging the city eXpendi-
ture.
This is distinct shifting from the asser-
ton of the day before that the millage
would be three per cent if the loan was
approved and three and one-half or four
per cent if the street Indebtedness had to
be paid by taxation. That was RI
Giculous. Even with the change
the statement as to the millage is
extravagant Five mills will meet all the
payments for the street indebtedness that
come due next year. The way to rectify
a deficiency in the estimated revenue is to
cut down appropriations to correspond
1t is a well-known fact that of the ex,
penditures Of the past two or three years
a large share, probably about one-fourth,
was in the line of municipal improve
ments which are commendable so long as
they can be carried on without excessive
taxation. but which must be curtailed
whenever they impose on the people any,
thing like two or three per cent rate Of
taxation. Repaving streets already pro-
vided with a sound though antiquated
pavement, the expenditure of hundreds of
thousands on park drives nearly as much
more for park property, and the enlarge
ment of our municipal architecture in the
line Of ornamental station houses, are
matters which can be postponed to the
time when they may be paid for without
squeezing the life out of tax payers. For
the new subjects of municipal eXpendi--
ture that are imperative, there must be a
corresponding retrerchmenf in the de-
partments where expenditure has been
liberal during the past few years, before
the tax rate can be materially increased.
Another city cotemporary referring to
this subject says THE DISPATCH promises
that "a beneficent finance committee will
see that the taxes are kept down" without
showing how it is to be done. If THE
DISPATCH has said anything that could be
tortured into such position it was an ex-
preston of confidence that the managers
of municipal finance are too shrewd poll
ticians to arouse the public against them
by distinctly oppressive tax rate As to
showing how it can he done THE Dis
PATCH in its first article indicated very
clearly that it must be done by retrench-
ment of the expenditures that can be cur
tailed or postponed.
If the people should vote down the bond
issue, an increase of five mills would be
justifiable and unavoidable But a two
and half or three per cent tax rate would
indicate that our p resent municipal mas
ters are anxious to terminate their control
of city affairs.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
TAKEN FROM LIFE.

He-Old Smithers, the misanthrope,
turned philanthropist before he died. and said he
would leave ali his money for the relief of suffering
humanity.
She-Did he endow a hospital in his villa
He-No. He left his fortune to the Inebriate
Asylum, with the condition that the income be
spent in drink for the inmates.
Reginald-Why, Chappie, what's the
matter-are YOU i'll?
Chappie-I Just had an awful nightmare. old fel.
I dweampt was a waitah. bah jove, and had to
wear a dwess suit in the daytime.
Gay Bachelor-Do you think there Is any
thing in the theory that married men live longer
than unmarried ones?
Henpecked Friend (wearfly)-On, don know
seems longer.
He-Don't you think it is wrong for peo-
ple to marry their intellectual interiors?
She-Yes; always wrong, and in some cases quite
impossible. -... .
'sHas she true sense of humor?" .-e
..No. Why she's the girl who was married for
fun at LenoA.''
lack Rounder-Isn't Miss Belle beauty?
Miss Ayes. But you know beauty is only skin
deep.
enough for me.
'sMother, did God make me?'
Yes my son.
..Did he make Pop?''
Certainly
..wcll. think after He saw what failure Pops
face He needn't have been mean enough to
put the same style on me-"
L'ENRoI-THE TIRED JESTER.
1 have sung my songs. 1 have danced nv
measure.
have played my part. Let me rest awhile
For my soul is sick of this thing called pleasure
And my lips are tired Of their painted smile
have lived for your laughter. Striving to please
1 have wrung mirth dry. You have drunken the
Take my cap and bells. have earned my leisure.
am out of time, like an ill-strung viol.
Harlequin.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
WHAT TO GIVE THANKS FOR.

With reference to the Thanksgiving
season the Chicago Times takes occasion
to put considerable stress on the fact that
much of the prosperity for which we are
to give thanks is due to the suffering of
others. "Our farmers would have found
little prosperity in their plenteous crops
had not dire famine come upon Eastern
Europe" says the Times. "The starva-
ton of Russian peasants is potent factor
in the well-being Of our people, and for it
we implied!y give thanks
This is rather narrow view of the sub
ject. Of course, no one who partakes of
the real spirit of thanksgiving is going to
express his gratitude that people in the
other half of the world are suffering for
his prosperity. But it is not necessary in
protesting gratitude to adopt the form of
prayer of the Pharisee and to thank God
that we are not as other people, nor is it
necessary to take thanksgiving for pros
perity as a jubilation over the misfOrtunes
of other nations. If our prosperity were
the cause of the Russian destitution
to give thanks for it would be close to
blasphemous, but to say that to
be grateful for the prosperity is to rejoice
and give thanks for the misfortune from
which it is indirectly derived is to assign
the meanest motives to some of the highest
joys Of life. A student wins prize Is
his joy rejoicing over theill-success of 9TH
ers? An architects plans are adapted for
a great building. Does he congratulate
himself that the other competitors have
lost their effort?
The fact is that the view taken by the
Times is even more unjust than those to
which it has just been compared, because
our prosperity really has different foun-
dation. The advanced price which West
ern farmers are getting for their wheat is
an expression of the fact that they have
the thing which the people of Europe most
need. Their prosperity is not then due
to the famine in Eastern Europe, but to
the fact that they are able to furnish the
food which will prevent famine in West
ern Europe. They can therefore give
thanks both for the prosperity and its
proximate cause, the fact that their indus
try will save the people Of Germany and
England from the sufferiDgs that Cypress
the Russians
There is both philanthropy and COM
mercial principle in being thankful that
we can supply Europe with the food it
needs and prosper by it.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
JUDICIAL REGULATION.

The latest ruling by the United States
| Court in the Cleveland gas case, together
with certain other decisions of similar
tenor in some of the recent railway cases,
indicates a novel and until within late
years unexpected termination for the
theory of legislative regulation of rates.
! The court held that it devolved upon the
city government to appear and furnish
proof that the rate which it had fixed fo1
the gas was just and profitable In the
western railway cases the United States
Courts have held that State Court cannot
fix rates below what will be profitable, and
have placed the burden of proof on the
regulating power.
The practice of granting monopolies to
corporations in transportation, in the gas
business. or in other branches of pub
lie service has been justified up to the
present era by the fact that the legislature
had the power to regulate rates. This was
the declaration from the earliest railroad
decision, in which Chancellor Walworth
held that the privilege of taking tolls was
subject to legislative regulation, down to
the Granger cases.
1t has even been laid down as the ac-
cepted corporation doctrine, in the latest
effort to secure the legalization of pools,
that the pool rates should be subject to
Governmental regulation. But when the
actual regulation begins to pinch the cor
porations they are the most strenuous in
throwing the doctrine overheard and in
appealing to the courts to restrict that
power.
The result of these appeals brings us
face to face with new regulating power.
1t effects no change in the situation to say
that the courts only require the regulating
power to prove that the rates are lust and
profitable, for the real question is, who is
to determine what rates are Just and
profitable? Whoever decides that uues-
ton holds the regulating power, and the
fact that the United States courts have
taken jurisdiction of it in questions af-
fecting purely State regulation confronts
us with the other fact that the doctrine of
legislative rates brings up with the reality
Of court-made rates. The courts are to
determine what rates ave just and profita-
bic and the anomaly is heightened by the
practical decision that the United States
courts are to exercise this regulative
power over the subjects OF State legisla-
ton.
So far as practical workings are con-
cerned the regulation of the courts is as
likely to be satisfactory as the regulation
of the Legislatures. Atpresent, however,
there is certain one-sidedness in the way
the United States courts take the cases up.
The Legislature or city government which
undertakes to fix statutory rates are re-
quired to prove that their rates are profit
able. No case is on record in which rail-
way has been required to prove that its
rates are no more than reasonable. Up to
date the supervision of the United
States courts over State rates has been ex.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19

tickets admitting two, being limited to COO.
Mrs. DAVID C. McCoRM1ox and Miss Nc
Cormick, of Cedar avenue, Allegheny, will
give reception ON Friday, November 90,
from to D.
=, The third day of the fair for the benefit of
the Southside Hospital, in attendance
MISS WILHELMINA SHIELDS, Of Edge worth,
expects to return to Eew York shortly to
resume her art studies
IHE Academy of Medicine holds It's an
Hual dinner on Monday, November 30, at the
MR. EDWARD O'NEIL and Mr.. Charles Doyle,
OF 9ewlckley, have gone hunting.
THE Harvard GIee Club will not visit
Pittsburg this season.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
GOSSIP OF THE STAGE.

PLUMP and pretty little Fanny Rice, having
deserted comic opera, will be seen at the
Grand Opera House next week in ga jolly
Surprise" which is described as q merry
musical comedy by Arthur Wallack. 1t is
said to be free from horse-play and vulgar
ity-an announcement that seems necessary
in these days when anything like farce
comedy is concerned
CLARA MORRIS will present q new play at
the Alvin Theater next week, Sardou's
"Odette," in which this remarkable
actress has made great impression else
where Miss Morris is in much better health
than she used to be, and she will die as usual
as Camille at the Saturday matinee.
ELLA EWING, girl of 10, who stands feet
inches and is still growing, will be at
Harry Davis Fifth Avenue Museum next
week. Then Pittsburg will have an oppor-
tunity of answering the query that has
stared at us from every billboard for the last
two weeks: "Where is Ella Ewing?"
FRANK DANIELS in Little Puck' is the
Duauesne Theater's bill for next week. The
travesty upon Anstey's whimsical ''Vice
Versa" and Mr.. Daniels droll rendering OF
the chief character are both familiar in
Pittsburg.
AN optical illusion by which a man an
pears to dccapitate himself will be the
Worlds Museum Theater's chief attraction
week, while Den Howe's Speciality Company
will give new variety show.
THE curtain-raiser at the Alvin, 1.-THE Bet
ter Part" is as sloppy and scrappy as such
a brief thing could be. Any one of the old
time farces would be better than such under
done sentimentalism.
CHARLES A. GARDNER will sing and act at
the Bijou next week in Captain Karl"
Sidney r. Ellis new NAV A genuine TyrO-
lean quartet assists Mr.. Gardner.
Miss JUcH as Elsa in "Lohe1Srin" last
night delighted large audience. Tonight
Carmen" will be given with Miss ,Juch in
the title role.
DEWoLF HOPPER, as usual, is testing the
capacity OF the BJou Theater
THERE will be matinees at all the theaters
on Thanksgiving Day.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
STIR Up THE CoNGRESsMEN,

Very soon now Congress will open.
Apart from foreign questions which will
likely be settled without taxing the time
or in any great degree the attention of
Congress, there is nothing to prevent that
body from bestowing most of its considera-
ticn upon business questions
1t would be highly interesting to know
how the people of each district expect to
get value from their Representatives and
Senators for the cost of the annual session.
The Congressman from Western Penn
sylvania, Eastern Ohio and West Virginia
can render very full value by taking up
the Lake Erie Canal project and pressing
it upon the national Government. We
do not know of any undertaking
in relation to which our local Con-
gresSInen are likely to make a
more enduring record than they might
by advocating the national advantages
which lie behind this enterprise The
recent discussion of the need of the
United States for access by water from the
interior TO the lakes, in case of future COM
plications with Great Britain, raises the
question out of the merely commercial
plane and invests it with a national
interest.
The Congressman who will make him.
self thus practically useful is far ikelier
to earn long and favorable recollection
frcm his constituents than the one who
makes himself obtrusively conspicuous in
small party squabbles or who shines
IN spread-eagle speeches upon subjects of
large circumference, but Of no great pres
ent moment at the core
Now is the time for the thoughtful
voter 10 do good turn by quietly drop
ping word in the ear Of his Congress
man, or penning him line, telling him
that the people of the district are watch
ing for display Of effective interest in
the canal understanding which i'm
mediately concerns them.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
A WORTHY EXAMPLE TO OTHERS.

For a two-year-old concern Schenley
Park is doing pretty well. A splendid
gift in itself, it invites other beautiful
gifts; and now Phipps conservatory is
coming to keep company with the Car
negie Library.
Schenley Park will be one of the most
beautiful anywhere in existence within
five years from now.
But to those who help to make it such
will belong most of the credit. The
fashion which Messrs Carnegie and
Phipps have set our rich men is a good
one. When some more Of our millionaires
overcome their native modesty we trust
We may expect succession of gifts thus
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19

ercised exclusively in the presumption
that the corporation is right and the State
is wrong.
But the salient feature of this judicial
doctrine is the disastrous and complete
ending of the theory of the Legislative
rates. No one who wishes to see this SUBJ
ject permanently solved need regret its
demise. There is no more reason why
either Legislatures, councils or courts
should fix the price of railway services or
street car fares or gas, than for the me-
di@val idea that the Government should
fix the price of bread or the rate of wages.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
PERSONAL POINTS.

JOHN G. WHITTIER will be "a wears Of
age the 18th of December.
THE Princess of Wales is on visit to
her father, the King of Denmark.
Mrs. LOGAN has become a good writer,
and her literary ventures are prosperous.
LorTA denies the tender impeachment
that she is going to be married to Douglass
Shirley, of Louisville.
Mrs. PoULTNEY BIGELow, who is the
latest New York society woman to break
into literature is said to possess 81, 600 900 in
her own right
GENERAL SAMUEL SMITH, of Balti-
more, had the longest Congressional career
on record in this country, being continu-
ously in Congress for 40 years either as SEN
ator OF Representative.
Ex-MINIsTER PALMER, President of the
Worlds Fair, has a farm near Detroit which
he makes his summer home. On it is an artis-
tic old cabin, which Mr.. Palmer has filled
with antique furniture and rugs ana bric-a-
brac.
EDGAR ALLEN POE, formerly conspicu-
Gus as football player at Princeton Col
lege, and now a law student at Baltimore, Is
an earnest worker in the Young Mems Chris
tian Association. He declares that many
Princeton football players have become
ministers.
DIR. GATLING says his famous gun should
be regarded as a philanthropic invention,
for it has saved no end of lives by soaring
riotous people into submission. So he calls
the deadly gun "the peacemaker." The
doctor is getting DID, but he is still hand
some man and in robust health.
COUNT HERBERT BISMARCK, who is at
c:..
John E. Gorst, the newly appointed Finan-
cial Secretary to the Treasury, yesterday
attended the session of the Royal Labor
Commission in Westminster Hall and dis
played much interest in the evidence given
by witnesses who appeared.
NINE BLoUET, who is now in America
with her husband "Max O'Rell," has had a
large share in creating his literary successes.
and is said by some people acquainted with
both to be more clever than her famous and
witty spouse. A good many folk will find it
very easy to believe this-solely the
ground of what they know of him.
THE oldest living college graduate is said
to be Andrew Parker, whose home is in Fitz-
william, N. H., the town in which he was
born. He is over 100 years old, and was
companion of Lafayette during his fourth
and last visit to this country in 1924. He
graduated from the university OF vermont
in 1913, standing second in his class.
QUEEN VICTORIA has again 'derived
very great benefit from the bracing air of
the Scottish Highlands" Her Majesty has
been equally fortunate nearly every year
during the greater part of her life. The
Highland air is very sure to dispel any NAL
adg with which she may be afflicted or
threatened. She is firm believer in it, and
recommends it in her journal i'll the High
lands"
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
Winter Amusements.

To the Editor of The Dispatch:
The presence of cold weather brings before
us visions of it's accompaniment-skati
Situated as Pittsburg is, with plenty of
water at its command. it seems strange that
a better provision has not been made for the
enjoyment of this healthy sport. In speak
ing of enjoyment, 1 mean free enjoyment,
in the open air. not that which can be pur-
chased in covered, crowded rink. 1t GER
tainly would not be q very difficult or ex-
pensive matter to create ponds in some of
the convenient and unoccupied localities
where the public at large could enjoy ITSELF
During the winter many Of our young girls
ana DOyS are NUT out from arnforfc cx0rGfsD.
They cannot take out their bicycles nor can
they indulge in lawn tennis, therefore in
place of these let us provide an amusement
that is as healthful and as attractive and
suitable for both sexes. JACK.
PITTsBURG, November 18.