davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01

SATURDAY. july 81.
Now that the market for securities has at
tanned proportions and a level OF prices moro
than suggestive of a genuine bull market. tho
local speculative element. rs well as many
brokers who have been longing for such q devel-
opment.a are beginning to cry that the pace Is too
fast, that prices are high enough for the mo-
ment and that q reaction Of several points Is
due. A good many traders have played the
market for o reaction all tho week. Some
Of them have been aggressive in their
operations. while others have been con-
tent to take their profits on the long side. As
The views referred to have been given a good
deal Of publicity incidental to efforts to depress
prices. an analysis OF the market during the last
six days should be Of more than ordinary inter
est. A large number of those interested in stocks
undoubtedly held the view last Monday morn
ing that the passage OF the Tariff bill and
the adjournment Of Congress afforded an
excellent opportunity to market their holdings
and that the events referred TO would probably
mark the elimination OF the advance In prices
They admitted that after n reaction In accord
ance with their notions.a fresh upward move
ment might properly take place. Adherence
to this theory resulted In heavy realiz-
ing sales early In the week. particularly
OF the stocks that had been foremost In the up
ward movement, namely, sugar refining and
the shares OF tho Granger trunk lines.
The stocks mentioned closed to-day lower han
they did last Saturday. ara this 10 not sur
prisinR, for they had enjoyed a very consider
able advance. Tho only ono. however. that
is materially lower man last saturday Is
Sugar Refining. which. apparently without tho
cooperation OF those identified with the manage
mcnt OF the company. and against the Judgment
OF those best Informed as 10 the enect OF the
new tariff upon the sugar refining INDUS
try, had been carried 10 nsures mat
invited heavy sales OF actual STOCK ana
also discouraged general tr"aing. iho net nc
clines In the Granger stocks' inciuoing that OF
1ls in 81, Paul. may be regarded as unimpor-
tant. This 10 tho showing OF inc reactiohists'
On tho other hand the marker mas con-
tinued active. In spite or the nooh OF long
stock poured upon 1t early in tho week ana per-
sistent efforts ever since 70 estaniishA a lower
level or prices. The activity mas neeh more pro-
nounced In bonds than In STOCKS. In inc
last named II has resulted from Inc re-
vival OF Interest In a large NUMBER OF
Issues that had bern comparatively heslectc"
for a lonE time. 1t is Significant That the In
terest In the shares That nave recently como 10
the front has been well sustiined, ana u can Dc
said without ezaggeratiop that the revival "
activity In them has been attended ny a mini
mum OF manipulation. The most conspicuous
manipulation all the week has been by operators
who are fighting the advance. The statistic"
Of tho market are certainly not favor
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01
Available cash balance.

including gold balance. 62ab, h"V' QUO esSH'oil'o QUA
Money in Lon Ion, LWia r cent. Rates Of dis
count In open market for both short and three
months bills Ar7s 2 cent. Paris advices quoted
8 p rents AT lO4 francs rs ccntimes. Exchange
on London % francs 10 ccntimcs.
The receivers OF tho baltimore and Ohio Rail
road Company announce that they are unable to
pay at present the coupons on the 5 q cent. gold
bonds OF 1928. due Aug. l.. II, however. on tho
application OF the Union Trust Company. now
pending. the court decides that the bonds have
thr same lien on the main line ~ the cOnsOli.
dated mortgage bonds, tho receivers will pay
the coupons. Speyer & Co. give notice that they
will purchase on and after Aug. l coupons on
the bonds which have been deposited with them
and pay the amount 10 the holders OF trust re-
GENTS issued under the agreement or April 10,
1896. on presentation of tho receipts at their
oflI.a
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01
y,x1xo11I AsD oonArEnor1E.

v.v vsvG ptscE Erchasve-saiss suiy m.
TINTED STATES AND STATE Rorps tS sl.ooosl.
100 US q. e.ieo7 so SAL iessie6a
lll+oll2 go Us a. c. 1881 20%
c,osYSe PRrcra OF UNITED STATES HoNDA
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01

July ai.-"wheat advanced a cent carly because OF
the enormous export husiaess closed at The seNhoard
the purshasS OF q good elEed septcmlcr line
by the bull crowd. The avian e was all
fore II stopped. II reported somc resclllns for
tue Continenl, there " $ some spe,culetive LIQUIDATION
The public Paris closing showed advance, on wheat
and Tour equal 70 ~ on SINE Mhshi futures Private
the public ones, n e~ely de- or bin Paris as steady,
rather a tame en- In. I" an exciting week. the nat raj
sort Of cnl.'insti,n; T,erc wore large d ,liyerics q
crowd put them out. rhi' r. suited In the July drop.
pin to III" September price, aud cv.n a tr fe under.
July premium was one OF III. reasons for the easier
feeling in Sep,emh : tow ward the cl Sc. Crop news Is
good M II was There has b. n an unusual advance
this week; tn r. ought to he reactions no matter how
W thin nc. rang up at the o enlng on damage claims
from Kansas and Nehra,ks, and cS.ier later on a rain
about every corn Slate. il Monday gets the rain
promi ed there will be some reaction. Tho general
temper though. is conservatively bullish. Oats were
without appreciate nuctuation, without news, and
without much trade; RsSeI p are getting large" ,oo
bbls.
Receipts ".. fFrssi' i Ssss;;
Exports. .... 3,l41
Spring in bills; No. g extra. ea. lbaS 80 No. ieXtra.
$500.
MILL FEEp-wss arm hut Iur o,lye.
90 ms. 5oa5shc, 100 ~, TSsS5c." '
CorroS%pot cotton here was unchanged. with
sales OF Ol2 bales for spinning; 800 bales were deliv.
cred on CONTRACT. Middling uplands. &c., against
q I.lBc. last Hnar; New Orleans and Gulf. Size,
AGAINST Z ll.l6c. last year The southern spot mar.
kcts were quiet hut frn. There was a holiday in
Liverpool. Futures in New orleans advanced 4 TO .
points, The Chronicl. states that the weather In tho
south has In the main been favorable, during the
week; thai In Texas. where rain mas fallen, It has as
a rule been beneficial. but in many Localities rain
IS. said to he needed; that from other portions
OF the cotton b'lt reports are generally quite
satisfactory, although a n few points moisture
would do g % that picking q b coming more General
In Texas. Northern spinncrr hav' taken thus far
this season I. I87.ppo bales, against 800. 90i thus
far last season. There came into sight during the
week s. l8O bales, against ii.O93 in the snma week
last year. making the total In sight S.35i, EOS bales,
against $3.50, 3l3 at this date last season. The cx.
ports from tn" ports thus far 'h's season have been
5,02i. 500 lales, against 1904. ~ thus FAR last sea.
ron. The tot Il worlds visible supply IA now 1879 .bs7
bales. including i~.lle.as7 American. asainat 1850.
a07 last " ar, OF which l,23S, lO1 were American.
Futures here to-day advanced I I, q points On the
most active months. closing steady aft tr sa'cs OF 49,.
900 bales. The future trading was as follows:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01
1iriarnds and Nnterest.

For Other Financial Advertisements ~
klSUSAtA Pa0S AatA $780,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01

Cot on was dull but frmnr today. The absence Of
Liverpool news tended tn check speculation. The
cont nurd dry weather In Texas Induced nervous
shorts to cover. and. together with some new huying.
caused an advance here to-day. Light rains have been
rsp RED at scattered points in TcNns during the
week, nut Z cd general rains In u at State re IN.
doubt"ily needed. The fear OF q pro;racted hot ard
dry Areil IN that state checks scllinS on anything Ike
aiarge scale Then. too, 'he strength Of the stalls.
teal position Is a sustaining trctur In the situation.
ant the spot markets In this country. though quiet,
ara arm. The ~ rOnfcic's weather report to-day was
generally favorable. Its Texas correspond uts. how.
ever. stat tin rain IA mu III needed in that State and
that co ton IL %suffrrinT for want OF moisture.
COFFEE-Rio on the srO. was dull and nominal; No.
:. 7sG 1lac. Sales 1900 hays Costa Rica on private
terms. The future trading Wa rs fnlinNa.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01

Futures here closed steady. with prices unchanged to
o points lower. The total sales were ll.25J bags.
Havr' declined iaf Hrmhurg was UNCHANGED 10 /.
pig. high r. Pho was steady at unch,n.ed prices;
chausrd at z l3.3"d. Santos was quiet and IN.
changed; receipts. 3S.nOO; stock. 4ST. 900. Europe
bought here to day and the market rul-l steady In
the face NJ heavy arrivals at primary points.
NAVAL SroRLS-U dchnngei. Spirits of turpentine,
2St,ft2sc.; common to good strained rosin, Sl.551
PE1RoLEua-Crude certificates were unqnoted hero
and In OF city.
Professionalism stronger. Prime, si.5Oasi52L,.
Pork steai ~ an In fair d'nland. Meas. SsS6' 80.
Tallow, Hisc. Butter-Creanory. Western. l5c.
Prostate. fresh gathered. lSr. CHICAGO. July al
"P.nrls o ~ had a mod rate advance early. but lost
the tmpruvrne EN- later On rshl'y n 10y longs and some
selling OF lard and ribs TO- y W York account. the mar.
ket closirsv stca ~ and sii-h v lower all . ound. HOG
mar ct " ~ strong and 5Sl or. higher, md the .4.h
Thi-tv I .ous'nl hos are estimated for Monday and
1SU. coo for next week"
SUG AR-Raw dun hut firm; So tcst. sac; 90 test.
g., H. red I"ctIaugrd and mnderat ly active.
gu Ite- car Sool- as follows: Australian-Ateppo.
lt@liHs. AEgora. II I2a l2Sc.: Baguad. black. &c:
IA dad. fawis. lfL@ lSc; Baydai, whites, I've.
B'shars. rolnrH. i2~ lpt.c RoShRra. white. l3L3
! c caE.e S HaiT. Russian. lGL@llr CANA. ordin tr!.
tGlOr; Gains, con b!uc. li@iIr; Coriova, &c.
u" zoe. DonsSoI. color'. li@,INc.: DDn.-0!.
lambs. l3dlic. East lniIR and Astatic-.East In
d.. III ice. l2Slic.: East India. low, lCe re;
h""rgian u. O.. allie: Gcors!au b.. Hale,
g urgsr Il. s.. 100 lie; .Naniahnr. l"@ &c:
Ia si.. chOice. l5ctl6C.. Karadi, ordinary, l4Hl'c..
30 n and VI aneer. 2lc.; khpra.snn color. l2" a.;
HI orassan. white, l7@l-c": IN rhnIr. TGr" ish. 32d35c.;
NnU,sul, WASHED. l6S &c; Muussul. UnwasA"!. lie;
orortu. Nc; SalCncl, l2Jl3C.; scotch. l2i2&l3.;
Va parat.o. lpIllc.
N4..a I,Iu 81 TN.naA n - uHs., IL,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01

The San Francisco and North Pacific Railway
reports for the yoar ended June 80:
ss::. : :.s.s.,.::: :' ls S:$ '@ 5 3::$; IS: :::' $S:st
ri Net s ss.4s:. -: s!S:5is ' ;sS:ssS E Bss: '5: 5ss
Surplus ......... sio,ei0 t9.0sO Inc. ts,iso
The increasing activity in st. Joe and Grand
Island securities is. according to those inter
traffic returns OF the company. For the i've
months ending My 81 the net earnings w.ro
pcrio OF last year. After dcductinc taxes the
surplus is Sl34,SOl. The fixed charges OF the
company unit! Jan. l, 1899; are only $1,000
II appears. Therefore. that the company. has
earned during the first 1--WE months OF the
It's fxei charges for the entire year. That this
result is not duo to special causes during the
R ar ,he m arnt thrss i ss sl 1ks in y The ree cu rrrt ,nI non,b
gross earnings have increasei S13.OOo As the
territory tributary to the road Will enjoy I'M
usual agricultural prosperity this year. II soon
fdently believed that the traffic returns during
the next six months will be even more crafty.
ing than those already reported.
An interesting fact that probably few people
are nw,re OF ia that during the forty years end
ing June 80. 1893. the Illinois Central Railroad
o. ta'Sss SIS los. being : per cent. Of its
gross earnings. md during the SINE period paid
In cosh dividends S,3,5:%n o total OF $40,
conn nv has paid semi-annual dividen's In
cash without intermission at rates ranging from
4 to 10 y cent. n"r mum.
Tho rec ipts Of tho Government to-day were:
Customs. s. $40: internal revenue, $5le. .9.
and mis- III eous. S2is go. nlo'nl OF Sl,o69.-
1Ol. Tn, disbui scnlents were 81 .. 600. an ex-
cess o! cNpcnt lures over re, ip 5 OF !Si72,s9 90.
The receipts OF IN ,tal vcAr'" . te have been
$39.O27. 1894. ard disbursements $40. 1913. 900. an
s65,636.
The net assets OF the Treasury at the close OF
business to-day. as o'tici ~ computed compare
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01

Government bonds firm at UNCHANGED quota;
lions. Hallway and other bonds strong and
s and P;ci aef is sss' 7. e.; Giltas A' Te4%ia! fG 1sss. T.
Louisville 5s; Detroit Gas SIS. Kansas Pacific
Texas IS; Mobile and ohio generals; Missouri
Pacific consols; Oregon Railroad and Navigation
aud San Francisco AZ; Union PaciiG. Denver and
Gulf lsis; Wabash lists: Atchison. Northern Pa
f im,,o Snd oT nss sd Sn1FI E Mnfs i in Atcb taS more cor.
orsdo and Pacific lsts, t.. r., gig y cent. TO 80;
ccR Ris G nssm Ea,a i Is's. t. t.. To- 10 + ilo 70 an Sai;
f bsiscls l GAS S. saG L. t % sSt; Ks ssi p p@.e Il som con;
Tex Texas J. Of f. Texss g s. PAT i: 10 's IS; Mobile HA and ohio aho
Es, @: n;s y; to ri li r Missouri Sn5 N PSfiaf console as I;
s7ii; Oregon. short Line .consol 5s, ,las, 70 %,
incomes 4. III. TO 81. and incomes d, a, to 3l4;
Oregon 1mGroyenient %. lst !; p: \; TO 2ila;
Pac. nc, Denver and Gulf lists, +. to 46la. and
Wabash DDS, 3 y cent. to 754.
Sales of silver bullion certificates for 5000
ounces were made on the Stock Exchange at
5s'sc. Commercial price Of bar silver in New
York. 557sr, Bar silver in London closet at
26'sd. Mexican silver dollars were quoted at
Money on call. l " cent. Time money is quoted
as follows: sixty days, lie y cont. three months.
six months, > i cent. Oh eooh, mixed Stock Ex.
change. collateral, Commercial paper quiet.
al 3asf q cent. and good names at 4a4Ia .
cent.
Foreign exchange dull at unchanged quota
tons. Posted asking rates for sterling. $I.S7
for long bills and 81. 80 for demand. Actual rates
are: Long bills. 81 s64a$4.S6i9; sight drafts,
&~l.S74G$i.s7La. and cable transfers, &4.S7i2@
$4.s7aL. Francs are quoted at D. l67sd5. 1914 for
| long aud 5.15Sa5.l Is for short: relchsniarks,
95 5.lSa95 T. q for long and 95A 9857s for short
g%ullders. 40 3.IUg4O4 for long and 4Oasa4O 7.I6
for short.
Domestic exchange on New York: Boston
Par and 5 cents premium. Charleston-BuyinR,
per; selling. y premium. SnvRnnRh-BuyinR.
l.lG of; selling. par. New O~r!eans-Bank 81
premium; commercial. 80 cents discount. San
Frnncisco-Sight, 10 cents premium; Telegraph,
| count bid, offered at par. Chiclgo-30 c. nts dis
count. Cincinnati-Between banks. % cents pre-
| MUM, and over counter, so cents premium.
The weekly statement of averages OF the Clear
inp HnIiaA hanka shOWa.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01

Surplus t47. 86l, D73 SA5, 720, 100 Dec. Si.G4l.ie5
Tho surplus n year nCo was $l7, 72s. 800, and
two years ago S40,0l7.l75.
The imports of general merchandise, includ-
ing dry goods. Al the port OF New York last
week were u ,lsI,Oo0 against S7,5l7,7 100
the previous week and 5000 SSl Tor the cor,
specie Tor the week we're Sl24.28l, OF which
sos. 500 was gold. making total specie imported
Gold, 5 3,7ll.765. and silver, 81 ,005, ia, u total
OF $i.7l7.5o against u, e39.0t3 the previous
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01
financial.


This company NOW OWNS 1000 ACRES
IN ALASKA and offers n portion of its
Treasury Stock to raise money for the de-
vclolment Of it's present property and for
the purchase of additional property in the
KLONDYKE DISTRICT.
As all the money subscribed cannot be
used nj once, shares are offered to those
desiring to purchase them on the
INSTAILMENT PLAN
of 10 per rent. cash and 10 per cent.
monthly until full paid. Not less than
$40 received. The Alaska Manager Of the
Company leaves Immediately to direct in
person the operations of the Company OH
the Klondyke.
OUR EXPEDITION.
This company will send its own steamer
from New York, carrying 200 passengers
and 1900 tons of freight to Juneau,
Alaska, via Cape Horn, on Aug. II, or az
soon thereafter as the passenger list II
filled. Rates, including berth, meals, and
900 pounds of baggage from New York to
juneau, will be Sl73 for each passenger.
Passengers will be landed in Juneau within
sixty days after leaving New York.
Applications should be made immediately
to secure accommodations, as the capacity
of the steamer is limited to DO.
CALL OR WRITE FOR PROSPECTUS
AND SHARES.
THR NEW YORK AND ALASKA
GOLD r. ..OUA rION A TRADING eOMPSNI.
"A AND 40 BROADWAY. NEW YORK.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01
COMMERCIAL COMPEND

SATURDAY. July 31.-GRAIS- Wheat Spot
was fairly active. Sales 2O9,O 900 BUSH. in
GLIDING 200. 900 for export. or No. l Manitoba,
10000; ungraded spring. 10000 on private
terms. ami SO. 900 No. . red on private terms,
afioat: No. / Nor,hern spring New York. sp4c.;
No, herd spring; soNf Il, NO. 2 d 20; %tn,er;
1isee.. but ut reacted and clossi asc., higher for
September and isc. lower Tor December. At one
time July was sa:c,' higher, hmt lost most Or this:
So i5.lG9si 4c.. closing slisc. Future sales
6.795. 900 push, as follows:
Opening. Hghsst. LOss:t. Closing. Night.
Sss.;Ssl;r.ss H. ~. q! a. S. 81:
Bariey-was inactive. New feeding, 29hsaolac.
freight to Nsw YORK; mating, ssstac, as to
qualify. Iye-was nrm an N iard m.nd. state.
suffsin Sales sS 1000 bush. Lats lat night safes OF
4O,VOo b.s.. no, . Wes.tra was reported al SSc' free
Ss! 2I,0 900 bush. 40, . mixed on private terms for
export z, III. O sa PSn@9d &c. &c.. / but m' lost IN isc. e, of ,Si.,
After "'Caangr' September IN curb was a3'oc. Fu'
ture sales 10. 700 bush, "a follows:
s.n,,m , oesssst"0' Htgnf,'' lG IS c's ST.. Ni ss.
oat,-spo, was dull. sales 1000 bush. track white,
sa.sa0g; No, . w1its, snT a. sG se > a e. S4G;; NJ
wee; 80. $40, ale; rejected mLrc zoe; do. waite,
ssiiSSSs5xcs Futures HG were ,sc. lower. Future sale.
10000 bush, "a foliowS'
OPENING. mghe't. LS,se't. Closing. Niphi.
3s'yi r. .si Fl: :iSs III ~:
september .... ,r, '' It Bis
the foreign nows continues to dominate the wheat
market, Further unIavorable adyices from Europe
to-day regur iiug the crop situation, together with
buying for Continent ! account, covering OF shorts.
and new Ioca buying ausrd an advance herr. lazy
strengthen the tone. But lefore the clio 9 prlcts
reartsI on rraliziug sales. There. WIS a holiday in
Liverpool. The exports from this country last week.
according to q. udSfreefs, were 2~.3+B,O2l bush.
against I.9Ts. 900 In the prey oIs week aad ~".0iS.O0O
last year, IaCrc VT re no shipments from Ar GENT, ne,
against none In the previous week and 1900 LAST
yssr. The weather IN tn" Vest to-day was generally
lar, Sh weTs are %predic,rd for Tonight in
Iowa, Nebraska, and Kansas. The Northwest.
en receipts were IGH cars, against dI2 last
week aud 800 last year: Chicato r.c"iyea
year. Corn advanced early, partly in sympa ny with
wheat, but weakened b',ort the lose on realizing
saies, Cnfayorabie crop adyices were receiv, d from
the West. The exports from thi. country last week
were l,Ia2, IFS bush againat s,29s, 900 in toe pre-,
vious week and l,+s6, 900 last year. Tbs ArEentins
previous week and l,oS6.UoO last year. ChlcGso
received i,07e ears OF corn and 400 II oA1. chicSSo
The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-01

week. Tho exports OF specie since Jan. 1 have
been: Gold, &2s lSa5s9 and silver. s2s.o97..
Tho Lohigh valley Railroad reports gross
earnings for Juno Of sl,Als.ls6, a decrease Of
S2s.79b rs comp rcd with the same month of
$2l ,019. For the seven months ending June
80 tho gross innings were ~, 603; 500; u dc
crense 81 SSs5 81 as Sonnpnrcd win The cor
299, an increase or 3 5,77S.
The Lehigh Valley Coil COMPANY reports
srSss U az siSs' s5 5Sr as s% comp S' sl; Iits no.; q sO% ne,
month Of last year, and not 1904. @, decrease
80 the gro7s earnings were 81. 1917, S3S, a de-
crease % 1912 .536 as compared with tho cor.
responding period Of lnst year. and deficit 1921.
OF both companies FOR June were S24l ,827. an
increase Of $4,000. and for the seven months
ending June 80 y '4S9;sos, an increase inc OF $3.50,
rendered a complete statement OF its operation.
Heretofore only tho changes as compared with
in the form OF tho statement Is another evidence
OF the progressive. policy of tho new manage.
ment and Of it's intention to give the public ad.
equntc Information regarding the property.
The Pennsylvania Railroad Company reports
for June:
Lines directly operated. June.. STR Months.
o cTssr s1 ny Expenses. Dec. ssSSS,TSss Dec. i%H'SSatII,47iiii
Inc, icssi % Pitt,6grS and Erts.dtrcStiv 'psraied.
Srsis s;5R Sapcnses Dee: .pes. iissas,,iiSs11 Dec. 'ii%..GIoSiT,SSSsss
Net earnings :. Inc. eQoa. eco Inc. ti44,5i4
The Chicago and Eastern Illinois Railroad re.
ports gross earnings for May of S312.2ll. an In.
crease Of $49.2o3 as sompSrSd With the same
%G III, G q sas1 F SSa the ea eleven %ea Sn moths e an insF MsS
81 the rross e,rnings were $3,629.i30 a de-
crease Of slo7, 9os as compared with the CORE
decrease OF sofia.
The Georgin Railroad reports gross earnings
for June OF 49,; 17s, an increase Of $lo,6s5 as
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-19

bringing its little train of cars behind it.
In going down, il will return in the same
way, which is less expensive than the
other way of sinking itself.
when all the sunken treasure has been
recovered, it is expected that the Argo-
maui will busy itself searching for coral,
ivory and beds of sponge. She will, of
course, take down scientific parties too,
out her most favorable work will be the
bringing up of ocean growths, for which
there is always a demand.
After she has found that treasure, her
way Of loading it up is quite as unique as
anything connected with her. This is
done by means of a derrick. which is
capable of lifting at least 500 pounds at a
time, perhaps a great deal more. This
is one of the points that are subject to eX-
pertinent. When the diver locates the
treasure he has only to fix one of the big
hooks into it, when the man inside hoists
the load and deposits it in the car. This
he repeats until all has been removed.
1t has been feared that the efficiency of
the Argonaut might be interfered with
from the fact that it must work at such a
great depth. 1t goes deeper than the diver
can possibly descend. Now in this case
were diver to venture out of the boat
he would run the risk of being crushed
under the water as he has no steel hull
to protect him, and cannot possibly
weigh as much as the water above him.
But If this proves to be the case in the ac-
tual operation of the boat it will be over
come by the use of the derrick and the
graphing hooks.
BY little skill in lowering the derrick,
the hooks can be lodged under the treas
ure and the loads hoisted as we'll as
though the divers had placed the hooks
by hand, or the boat can be brought down
directly over the sunken vessel and the
divers work beneath 1t through the open
door.
The Argonaut was launched Aug 10 at
the Columbian Iron Works, Baltimore,
and after little hitch in getting her into
the water she was finally floated with
great success. She was christened by
Miriam Lake, a granddaughter of the in
Ventor and so great was the public inter-
est in her that an immense crowd of peo-
pie watched the ceremony.
Not the least part of the Argonaut's
work will be the bringing up of dead
bodies from sunken vessels. AS soon as
to bring up the drowned persons and then
recover the cargo. The boat is only nine
feet wide and has a length of scarcely
thirty-six feet. She is so small that she
can be packed on a freight car and taken
across country, or she can be operated in
any lake or river.
1t is confidently expected that she will
revolutionize the work at the bottom of
the sea, even as the diver revolutionized
1t When he first discovered that he could
go down inside a bell.
Elmer T. Everett