Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1894-06-28


and bonds will within a short time become
the property of an English syndicate that
has made an offer to the owners. The
matter was discussed at yesterdays an
nual meeting of the stockholders at the
general offices in this city after President
Avery had called their attention to it in
his yearly report. He told them foreign
capitalists were willing to pay $1,000 a
share for the 1000 shares of stock and
take the bonds at par and accrued inter
est. This would make total OF :S9,OOO,-
900. No definite action was taken be-
cause every one of the 100 stockholders
must decide for himself About twenty
were present at the meeting, representing,
however, most of the stock 1t is under
stood the majority of the Stockholders are
willing to sell. Until last December,
said President Avery, after the meeting
had adjourned, mot dollars worth of
stock could have been purchased at any
price. We were turning out 2lOO move
ments day and employing 5000 hands.
Still we were unable to keep even with
our orders. Now we employ, only half
the regular force, working five days
week. As a result the stockholders are
receiving no dividends and some OF them
are willing to sell. The prospects are
that June and July will prove unusually
dull months. We receive an order for -
movements now where a year ago ooo
would have been asked Tor.
What Reciprocity Has Accompi shed.
Gov. Mckinley has recently given some
facts regarding the results of reciprocity
which will prove interesting reading at
a time when the power of the Demo
cratic administration is beng used to
break down all that has been accom-
plished in the direction of charging the
markets for the American farmer:
ssAs the result of these commercial ar
nd n
them. our trade has shown gratifying
increase, The domestic exports to Ger
MANY and Austro-Hungary had increased
in value, up to December, 1892, from
SAL. 100000 to $57 100000, or more than
p per cent. With American countries
up to that date from S44 100000 to $54,-
OOO. 900, or upwards of % per cent. The
total increase in the value of exports to
all countries with which reciprocal ar
engagements have been made had been
$2O,772, 621, which sum is chiefly from
from lumber and the manufactures of
iron and steel Our imports with these
countries have increased also in the same
period, consisting of articles which we do
not ourselves produce, like sugar, coffee,
india rubber and crude drugs.
During the first half of the year 1891
we exported to Cuba $4,000 barrels of
1892, under the reciprocity clause, we
exported to the same country 337 900
barrels. For the year ending August 81,
1891. our total exports to Cuba were
81 100000. For the corresponding peri
ports were $19,7OO,OOO. under law not
vet two years in operation. OF this great
increase nearly S4,0OO,OO0 was in -four,
about 100000 was in bacon, pork and
other provisions, and a large proportion
of the remaining exports were also agri-
cultural products. And yet the Democrat
ic leaders in Congress seriously propose
to shut the door of this splendid oppor-
tunity in the face of the American farm
err.
Il am not here to discuss tariff rates
or schedules. These are subject to change
up or down, as new conditions require
it; but my insistence is that these changes
must ever be governed by the protective
principle, and within that principle rates
may be, should be, and will be amended
as time, new processes OF manufacture
and changed commercial conditions re-
quire; but they must not fall below rate
which will adequately measure the dit.
ference between the American scale OF
wages and that of competing countries,
and must always be in favor of the labor
of our own country and the home mar
ket for our people. The principle upon
which they We're made is not subject to
amendment The tariff policy of this
country must be protective. That Is
what we contend for-that is what the
American people mean to have.
The. present law was adequate to
meet all the expenses of the government,
and did meet them for the first two and
half years of its operation. During no
year of President Harrison's administra-
ton did the receipts fall below the ex-
penses of the government, and when
President Harrison went out of power.
while his administration had paid off more
than $296.0O0,O0O of the principal and
interest of the national debt, yet he turned
over to the administration which succeed
ed him surplus of upward of S124.OOO,-
900, including the reserve fund. which,
under the Republican policy, had never
been encroached upon''