The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-01-06
BUSINESS DEPRESSION
is MORE MARKED SINCE THE
ELECTION.
Senator Pettigrew Leads the Fight
Against the u. p. Railroad in
Favor of Foreclosure.

People Press Bureau, st. Louis, Mo-,
Jan. 4.-AccOrding to the New York
bankers the war scare has caused q
shrinkage in values of 500. 900 900. This
is more damage than has been inflicted
on the island of Cuba, so we are fain to
believe that Wall street "scares' come
high, Or that it is another case of "the
little boy lied"
Ex-Governor Waite is reported to be
one Of the most enthusiastic recruits
that desire to 60 to the aid of Cuba.
The Red Cross League, although So
licited to do so, can not 60 to the aid of
the Cuban sufferers. Miss Barton, the
president of the League, has been ap-
pealed to, but it is claimed by those in
authority that position of the strictest
neutrality must be maintained. This
would hardly seem to be in accord with
the aid given the Armenian sufferers.
The absurdity of Spanish threats of
war against the United States Is con-
ceded by all. President Cleveland's DO
sition as regards Cuba can be somewhat
accounted for by the fact that Cuban
bonds are largely held by the Wall
street element to whose interests he has
so ably devoted himself. Cuban inde-
pendence would mean depreciation If
not reputation of these stocks.
Secretary Olney will submit plans to
congress, Jan. 5, by which the United
States will act as mediator between
Spain and Cuba and guarantee to the
island semi independence, and amnesty
to the insurgents.
Senator Pettigrew, S. Dak., has been
leading the fight against the Pacific rail-
road steal. He urged the appropriation
OF $FO,OOO,OO0 to take up the trust notes
and iexplained fully how the branch
lines are being used to divert business
from the main line, ON which the gov
ernment holds lien, that the road is
not insolvent, as it is claimed, but that
the floating debt was created to COM
plicate and embarrass the government
liens. The same disgEaceful methods of
bribery and corruption that character
lied the Credit Mehilier have heep sad
are being used. On the other hand Sem
ator Thu1ASton, of Nebraska, urges that
the government would get more by pas
sage of the Pacific Funding'bill than by
foreclosure. A measure can be Judged
by It's friends as we'll as by it's enemies.
The secretary of the treasury has sent
congress the following statement of the
Pacific railroad debts: Union and Kan
sas Pacific, advances and interest, S92,-
$4,000; due July J., 1897, $52, ,289 .593.
Balance due on Central Pacific, $6O,318,-
377.
The New York Journal, one of the
most Independent papers in the east re-
Gently published number of interviews
with leading business men, in regard to
hp CT Of hr,c
were made from New York, Philadel-
phia, Chicago, Cincinnati, St. Louis, New
Orleans, Memphis, s~n Antonio, Dem
yer, Kansas City and San Francisco.
The most hopeful reports we>S from the
provement was noted. Eastern men
state the depression has become more
marked during the last month
The feasibility and constitutionality
of the state taking individual action in
regard to practical bi-metalism is be-
ing widely discussed by the newspapers.
The Security and Mortgage Trust
Company, of Dallas, Tex, has failed for
$2,O00,000.
The Atlas National Bank, of Chicago,
has suspended with liabilities OF cae and
one-half millions. Four smaller banks
closed on account of this supension.
Owing to the Vaccinations of the
trusts that controls that commodity,
leather continues to advance in price.
Thanks to a fight between the Sugar
Trust and the Arbuckle Coffee Company
the price of coffee has gone down a few
cents. Good.
A rather amusing story has just beea
sent out In regard to large number of
gold bug Democrats, in Ohio, who were
beguiled into parting with various sums
of money to self-constituted committee
that represented itself as authorized to
prepare list of postmasters to succeed
the present mbents, who were to be
deposed for "pernIcious activity None
of the promised appOintmentsfm fmaterial-
ized, which led to Inquiry and so the
What promises to be most unique
and interesting gathering is the Nation
Congress of Mothers, that is to convene
shortly in Washington, D. G.
At a meeting of the members Of the.
lower house at Oklahoma City, Dec. %,
is was agreed to hold final caucus in
executive session at Guthrie, January
IL, 1897.
w. j. Bryans lecture at Atlanta was
a most unqualified success, but at its
close he refused to accept the $4,000
check that would have bound him to de-
liver the entries series of lectures. He
has as yet not fully stated his plans.
Hon. John Crosby, Populist orator and
attorney and a leading single-taxer,
lately of Kansas City, Mo-, has removed
to Wilmington, Delaware.
According to the report of Labor COM
missioner Powers, the farmers of Min
nesGta have realized on their crops ST.
100000 less in 1895 than in 1891.
Nebraska voters are following the lead
of Iowa and demanding non-partisan
conference at Lincoln, Jan. 6, 1897.
The Populists of South Dakota are
purging the party of the Hannacrats.
The newspapers of Nebraska are CIV
ing much praise to Governor Hoicomb
for the character OF his appointees.
Chairman Prewete, of the Popuiist
State Committee of Mississippi has Is
sued an appeal to the Populists OF th8ss
state to lay aside prejudice and work ~
the principles of Populism.