davidaulloa/AmericanStories huggingface dataset:
The Saint Paul globe., 1898-03-13
MARKET SUMMARY.

CHICAGO, March 12.-The break in Wall
street maue another bad quarter of an
hour" in wheat today, causing July to break
about &c. There was another struggle in May
between the Letter and Armour interests,
but Letter managed to maintain the former
price. Letter applied to the directors for a
marginal price on May wheat, which tended
to relieve the tension toward the close. The
days decline in July was 1Bc. Everything
else on the floor showed weakness, especially
provisions, declines Of 71a@25c being recorded
in that market. Corn closed a shade lower
and oats lost AQ2sc.
Wheat started off as if rally after the
weakness of yesterday was to take place.
Holders were encouraged by the steadiness
shown by the foreign markets, especially
Liverpool, in the face Of yesterdays tumble
Letter had placed additional shipping or
ders of nearly 10000 bu. Offerings at first
were in comparatively small volume, while
quite a good scattered demand was apparent.
Sales were made for July at the opening at
SS3&GSS5sc. This was &c over yesterday s
closing price. and the buying demand was
good enough TO add another small fraction
to the price in a short time. The market
held fairly steady for some time at around
that price, but finally the weakness in Wall
street giving rise to apprehensions of liquida-
ton in everything else, brought longs into
the market to unload. 1t also resulted in an
almost total cutting off Of support, and pro-
fessional shorts, taking advantage of that
fact, hammered the price down rapidly.
For about fifteen minutes the market was
exceptionally weak, July selling down with
out a stop to S6%c, break of 23sc from the
high point. The decline brought a good many
stop-loss orders, and considerable selling was
also done through fear of another attack
May by the big bears. In this however
holders were agreeably disappointed. Plenty
of May was offered, but there was nothing
like the concerted attempt to break the mar
ket, which took place yesterday, and Letters
brokers had comparatively little difficulty in
keeping the price at $1.O4. Another influen-
The Saint Paul globe., 1898-03-13

ciety in a civil capacity, and therein
lies the secret of Japan's wonderful de-
velopment in humane ideas. She has
been an apt scholar, and deServedly
received the Communications of the
world
Picture, if you can, the scenes that
would have ensued in this war in the
absence of the kindness and mercy in
culcated by the Red Cross.
I'm our own country the war signal
has not been heard since 1882, when we
entered the treaty; but the elements
have wrought sad destruction. Fore
seeing these conditions 1 asked of the
other societies, through the interna-
tional head, the privilege to include
calamities other than war when 1 or
ganiZed the American National Red
Cross. My request was cordially grant
ed and hailed with enthusiasm. Other
ma atoms have since adopted it.
Il need only tell in a few words of
our own work. 1t includes thirteen
fields of disaster in as many years.
Floods, famines, fires. epidemics, and
storms have caused the suffering, and
more than one million dollars has been
applied in the aggreg gate, by the Will g
hands of those that have for the most
part volunteered their services in be-
half of the great cause of humanity.
-"Clara Barton,
president of the American National
Red Cross
The Saint Paul globe., 1898-03-13

the necessity for plain speech There is
a kind of shrewdness, allied to cum
ming, which sensible and right-minded
people have neither sympathy with nor
respect for. 1t inspires in them only
distrust and aversion. What will con-
gress do? is being asked all over the
country and even beyond it's confines
1t is our manifest duty to the people
and to ourselves to answer that ques-
ton so plainly that no one need mis-
understand our meaning"
This question, asked two years ago,
remains unanswered, despite the faith
which for lack of better) the coun-
try was forced to place in the assur-
ance of the st. Louis Platform. Hence
the inquiry, which naturally arises in
connection with the consideration of
Mr.. McCleary's career, What is the
Republican house, with its Republican
committee on banking and currency,
doing with those financial problems
which it is pledged to solve?" is most
pertinent. Such a subject, dry at ali
times, may seem especially uninterest-
ing in contrast with the heat and flame
engendered by the Maine incident and
the continuance of the Spanish atroci-
The Saint Paul globe., 1898-03-13

ties in Cuba: but in reality 1t was
never more gernlane, never so vital to
present issues. Back of the heat and
flame there must be fuel Money fur
nishes the sinews Of war, and when
that is sound, they must be strong and
durable.
The answer then, to this inquiry is:
The Republican congress has done
nothing and will do nothing, if the de-
signs of it's leaders are carried out
The Republican committe on banking
and currency has been striving and
now hopes, despite defects and difficult
ties inherent to it, to report a bill
which shall, at least in a general way,
embody those principles of financial
reform which proved such Good
enough Morgan" to the party in 1896.
Some members of congress have been
inclined to look humorously upon the
strivings or perhaps contentious
would be a better word-of the bank
ing and currency committee. During
the earlier part of the session, es-
pecially. there were covert references
to DoEnybrook fair, and sly illusions
to the Kilkenny cats, as if long-tailed
coats and bludgeons were in order,
The Saint Paul globe., 1898-03-13

Correspondence The st. Paul Globe.
WASHINGTON, March 10.-The Wis
itors' ga lery of the house of rep
by a card from a member, affords, in a
running commentary, a valuable expo
sition of the popular standing of the
legislators below. 1t is thronged by
strangers from all parts of the Union,
mostly of the well-to-do, leisurely
tourist sort, who eagerly consult their
diagrams and strain their opera glasses
and then question the attendants as
to the identity of the ones observed.
1t happened, one afternoon, that a
quiet looking member, rather precise
in bearing, trim of beard and poise of
eye glass; $, and somewhat pedantic in
cut of black clothing, attracted the no.
tice of two visitors, as he slowly walk
ed up the aisle to the lobby.
Who is that?" asked one of the
strangers of the guard at the door.
That's Mr.. McCleary, of Minnesota"
responded the man, hes one of the
ablest sound money men in the house"
Hum. reflected the other, "a scholar
In politics, hey?"
Then he must flock all by himself"
interjected his companion who had a
cynical turn of countenance.
The first two statements regarding
James T. McClC ary, n ember CT congress
from the Second district of Minnesota
are substantially true. He is conceded
to be one of the foremost financial
thinkers in the house; he is, from his
training at least, a scholar in politics.
Whether with these qualifications he
would not gain higher reputation if
he did flock more by himself than he
does, is a question which the practical
might answer in one way and the
idealic in quite another. One thing is
certain; a purely non-partisan member
would be more lonesome in the present
The Saint Paul globe., 1898-03-13
FLAG OF THE RED CROSS

ton and an international committee
located at Geneva, Switzerland, the
latter being the medium Of commune
cation and assistance between nations,
in order to prevent any possible COM
plications by reason of nationality and
jealousy.
The national ladies have the right
to carry on the work Of gathering
funds and materials in such mann er s
they deem best. In those countries
where strict laws have been passed to
prevent the misuse of the Red Cross
(and such is the case in most coun-
tries) local auxiliary societies are
formed. In our own country no such
laws exist; therefore it has not seemed
wise or just to sanction subsocieties.
With no power to restrain them the
tendency of local societies would be to
overreach and subvert the purposes of
the treaty.
Il can make but the brefest refer
ence to the work performed by the So
cieties.
THE first war to bring the treaty
into practical operation was that of
1866 in Germany, Austria and Italy.
Austria had not yet joined, but her
citizens raised and applied nearly half
a million dollars. Italian societies
raised nearly $4,000 dollars French
and Swiss societies aided, this being
the first instance of neutral aid
"GermanyS societies were fully pre-
pared, and more than $3,00O,O00 were
applied, and half a thousand volun-
teers, men and women, were emp'oyed.
The results of this war fully proved the
incalculable value of organized auth
oriZed civil aid.
Next came the Franco-Prussian war
The Saint Paul globe., 1898-03-13
SCHOLAR IN POLITICS

congress thar a mortal on the opaque
side of the moon.
Mr.. McCleary's career, prior to his
election to the Fffty-third congress,
was confined within scholastic lines. He
was an educator; progressing from the
desk and ferule of a district school to
the presidency of the Minnesota Edu-
cational association, conducting insti-
tutes in many Western states and pub
fishing studies in civics which have
become text books throughout the
country. The plunge from such quiet
life into the hurIy- -burly of the house
must have been bewildering had it not
aroused within him that habit of in
Vestigation common to studious men.
To use his own words, Mr.. McCleary
set about getting acquainted with
the machinery of legislation and the de-
partments." 1t is safe to conclude that
he found more strange things there
than he had ever dreamed of in all his
philosophy.
Incidental to this research into the
bizarre, there We're, of course, many
pension claims to be chased through
the labyrinth of the bureau into the
center of settlement. Committee
work did not interfere largely with this
pursuit; for Mr.. McCleary's committee
appointments, on labor and railways
and canals, were not eXacting; the for
mer committee being mis-nomer and
the latter, given over to routine. Hence
he also found time to make two set
speeches on the floor of the house; one
on the tariff and the other on the fed
eral election laws, in neither of which
did he show any desire to segregate
himself from his party.
In the Fifty fourth congress the
scholar came more to the front. Mr..
McCleary was assigned to the banking
and currency committee, and at once
showed the value of his. training and
researches. On Feb. II, 1896, he deliv
cred a speech against the unrestrict-
ed coinage of silver, which was nOta-
bic event in the war which has been
Waged against that deluSion. 1t was
comprehensive review of the worlds
experience in finance, with deductions
SO scientifically exact as to be con-
vincing save to that class who "hold
their opinion still" 1t rddled the pre-
tense that the price of farm products
is so closely connected with that Of
silver that the one falls with the other.
In it Mr.. McCleary was at his best;
master of his subject and of himself.
This speech has had a remarkable his
tory; during the campaign of 1895 lis
circulation far exceeded that of any
other document, reaching the enormous
figure of II 100000 copies. Cognate sub
jects absorbed Mr.. McCleary's time
throughout this entire session, the only
exception of any moment being a care
fully written report, which he drew for
the labor committee, of which he con-
tinued a member, in relation to the
eight-hour law.
Near the end of Mr.. McCleary's gold
speech he spoke as follows: And
now, in conclusion. I desire to empha-
size the gravity of the situation and
The Saint Paul globe., 1898-03-13

and there would be nothing left of the
various financial measures introduced
except the preambles. This state of
amused incredulity as to results was
induced by several causes; For one
thing, Mr.. Walker, the chairman Of
the committee, a worthy old gentle
man Of the order of Midas, is SO
choleric as to need an air-cooling bat
terry in his hat. 1t was easy to infer,
therefore. that, being assured; as he
always is, that his way is the only
way, he would have but little patience
with the ways Of others. Then Mr..
Gage appeared before the committee
for many hearings; and the secretary
takes himself so very seriously that
any eXtraneOus view must needs be
frivolous. Perhaps this is why his bill
has generally been regarded as a huge
joke-a huge practical joke, so far as
he is concerned. Besides, the Indian
apolis cure-all fell with a dull thud
upon eXpectant enthusiasm, and there
are persons so heartless as to always
smile at such a disaster. Eleemosy-
nary assistance, when un1nV1ted and
forced, sometimes provokes revenge
upon itself by proving not to be as
sstance at all; and congressman are
very human in cherishing their pr1vl-
leges. Finally it was understood that
least one measure, revealing the sole
and solitary route from currency dark
ness into financial light; and from all
these conditions the old adage: TOO
many cooks spoil the BROTH" followed
like Q. E. D. to theorem in geome-
try.
But, despite these defects and DIFF
ficulties, some real, others imagined,
the committee has been very industri-
OnS The VariOnS provisions of the
four general measures before 1t, i. e.
the Gage bill, the monetary commits
sion bill. the Walker bill and the
Fowler bill 4
cCssed; and, it, at the conclusion, .tha
pile of bricks was still just as great,
yet no one could deny that each sep
arate brick had been lifted and moved.
Sometimes there is an embarrassment
of material as well as of riches.
Though the chairman is somewhat
impractica BILE, the more so for being
thoroughly honest in his convictions,
there are some strong men on this
committee, notably, Mr.. Fowler. of
New Jersey; Mr.. McCleary, Of Mime
sofa, and Mr.. Johnson, of Indiana
which they are named. Mr.. Johnson,
owing to local influences, perhaps, is
committed to the Indianapolis COM
mission plan. He is lawyer of high
standing, logical, acute and well-in-
formed, and his services have been
valuable in confining the discussions
to the issues and in bringing out the
salient points. 1t may be said in
passing that he has made the speech
Of this session-a most refreshing oasis
In the great desert of balderdash.
Quite Unexpectedly, few weeks ago,
he spoke at length in opposition to
Hawaiian annexation, and the clear
cut arguments rolled so tripp:ngly
from his lips that the official stenog-
rapher bumped his back like a bicy
Gle scorcher and felt like tyro in
long-hand.
1t is general remark about the
capitol that if Mr.. Fowler's bill were
reported it would prove a practical and
comprehensive solution of the currency
The Saint Paul globe., 1898-03-13

and the Commune, 1S70-1S71. In Ger
many more than two thousand COM
mitteeS arose at once, with a central
committee at Berlin. More than $14,
000,000 of money was raised. Hospitals,
hospital trains, and preparations on
the grandest scale were organized.
France was not so well prepared, but
upwards of $2,000000 was expended,
and more than 100000 wounded were
cared for. Neutral societies also rem
dered great aid. One striking instance
was that of $4,000 French soldiers who
peacefully invaded Switzerland in a
famished condition, 10 per cent of them
being sick. Their every want was pro-
vided for by the Red Cross of Switzer-
land. The International committee
asked for and obtained from Germany
$500 incura BILE French soldiers, supplied
all their wants on their way through
Switzerland, and returned them to
their homes.
1.-The wars of 1S76-7S involving Tur-
key, Servia, Montenegro, Greece. and
Russia, furnished the next scenes of
activity. The work of the Russian Red
Cross was the most notable. Regarded
with jealousy first by the military, it
was soon solicited to take control. 1t
raised nearly $17,O0O,OOO and applied
more than $13,O00,00O of it. In Turkey
the Red Cross emblem found its first
obstruction. The Turkish soldiers re-
garded it from religious point Of
view, and so strong was their preju-
dice that a red crescent had to be sub
stituted by that society.
THE latest display Of the Red Cross
work has been in the Japanese army.
How frequently we heard it remarked
that the Japanese displayed such as
tonishing mercy and civilization, that
they are so quick to adopt the ideas of
more advanced nations, etc. In 1886
Japan joined HANDS with the Red Cioss
nations. Her ruler the mikado, be-
came a president of the Red Cross So
The Saint Paul globe., 1898-03-13
NEW YORK STOCKS.

NEW YORK March 1.-THE professional
traders were somewhat astonished at the
bears who attacked the market at the open
ing had buying orders at the prices to
which they desired to idrive. stocks. The
market showed itself so weak when these
prices were reached that the buying orders
were quickly withdrawn
This covering movement accounted for the
sharp rally in the first hour, and there
were some recoveries at the close. Other
wise there was nothing to relieve the un-
varied, depression, which prevailed through
the whole list of stocks and bonds.
The closely held standard stocks suffered
with the purely speculative issues and in
some cases more Sc severely Lake Shore is
points. and closed with the bidding at only
$50. Pennsy lyania dropped full points St.
Paul suffered very acutely, probably on the
uncovering, of margins on recent speculative
buying and was off at one time 4$ points
Northwest dropped Az points and Burlington
points. The local traction stocks were
The number Of prominent stocks which
show net losses of between 2 and points is
very large. The total sales in the two hours
of trading, $4,000, was we'll up to the aver
age of a full days business for the week,
and blocks of several thousand shares were
frequently recorded Part of these offerings
were speculative holdings dfslodged by er
hausted margins, but there can be no doubt
that sales of Investment holdings, such are
not usually Influenced at all by the specu-
lative movement of prices are beginning to
absorb an increasing proportion of the busi-
ness on the stock exchange.
There was no specific item of the days
news that can be pointed to to account for
the demoraizat.on of the market. 1t was
caused rather by the general conviction that
the reports of the Maine board of inquiry
the government towards Cuba are Imminent
and the unwillingness of operators to carry
open contracts over Sunday.
Total sales of stocks today were 323, 800
shares, including: $500 Atchison pfd 20,O01
Burlington, 7,150 L. G NJ, 1880 Manhattan.
5000 Metropolitan, $500 Reading pfd $500
Missouri Pacific 10000 New York Central,
5,42O Northern Pacific, II ,920 Northern Pacific
pfd, 1000 Reading 10000 Rock Island. 2,342
1890 Peoples Gas, 44,320 Sugar. 1900 West
ern Union.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by G. H. F. Smith & Co., members
New York stock exchange and Chicago board
The Saint Paul globe., 1898-03-13
TT Is BROADER THAN CHRISTI
ANITY ITSELF
Manner of Collecting Funds Differs
in Different COuntries-First
Practical Operation of the Society
in 1S66-Its Work Extended
From Wars to Floods.

Correspondence The St Paul Globe.
HAVANA, March S.-"The Red Cross
flag has no Christian meaning in the
sense that many suppose. 1t is broad
CT than Christianity itself, because it
has neither prejudice nor bounds;
Christian Mohammedan, and pagan
are the same in the eyes of the Red
Cross. The choice of the flag was a
well-merited compliment to Switzer-
land, who had given her kind services
in the cause by officially issuing the
invitation to the nations of the world
to meet in conference, and by provid-
ing the phase. Her national flag is a
white Greek cross on a red ground,
and the colors were simply reversed.
In each country that adopted the
treaty. one national organization is
formed, and that society alone is recog-
niZed by its national government,
also by each other national organiza-
The Saint Paul globe., 1898-03-13
NEW YORK MINING STOCKS.

TREASURY STATEMENT.
WASHINGTON. March 12-Today's state
ment of the condi ion of the treasury shows:
Available cash balance, $225. .339, ,13S; gold re-
serve, $169, ,S144
FOREIGN FINANCIAL.
NEW YORK. March 12.-Evening Posts
London financial cablegram: The stock mar
kets here were dull and depressed today, but
the close was a fraction above the worst on
a feeble rally from Paris Spanish securities
were fiat. Americans were fiat on the New
York lead. There was practically no recov-
very. The increased premium charged by the
Bank of France on eagles, thus shifting the
demand for gold here, resulted in more with
drawals from the Bank Of England today.
More American bills are offered to arrive
than for time. The brokers usually
quote 3A; the bank is now doing large
business. There was a further fall in Span
ish bonds after business hours.
BANK CLEARINGS
st. Paul-$914, ,976 AS
Mnneapolis-S1 2S0, ,73A
Chicago-$A, 20o, ,56k
The Saint Paul globe., 1898-03-13

tial factor was the New York bank state
ment
The market after getting down to S63sc for
July, gradually grew quieter. The steadiness
of May had a good effect on the nerves of
the July holders and brought some of the
early sellers back Shorts who had big
profits on the break also covered freely and
the price gradually crept back to S6Hc.
Then for some time almost a holiday dull
ness prevailed. with fluctuations infrequent
and narrow Late in the session good deal
OF excitement was caused by a formal ap-
pllcation by Letter to the directors for a
marginal price on May, which was done he
said. in order to relieve the tension This
action had favorable effect on the market
and resulted in further advance in July,
that delivery finally getting up to S7a1S7Ac.
where it closed. May closed at s1O4
After the session Closed it became known
mat Letter had sold 100000 bu of contract
wheat to Counselman 4 Day. The price was
not stated, Letter merely saying 1t was dis
posed of at market price"
Corn was weak with wheat. May ranged
from 3OA AG302sc to 30c and closed at 3Oa@
50Ac. In oats quite a good business was
done May ranged from 26Ac to 26c and
closed A@asc lower, at 6as@265sc.
Provisions were weak from the outset.
May pork closed 25c lower, at $685. May
lard, 71sc lower, at s5.121h, and Nav ribs
about 10c lower, at $5.021bM5O5
Estimated receipts Monday: Wheat 135
cars; corn, 800 cars; oats, 313 cars hogs, 80
head. e'' Wv
The leading futures ranged as follows.
The Saint Paul globe., 1898-03-13

which was present Princess Irene the wife
of Prince Henry, the emperor's brother who
is in command of the German squadron
in the Far East, William H. uttered the fol-
lowing really startling words IN consequence
of the conversation having turned upon Gu
ban affairs.
The German emperor, placing the hilt of
his sword the table said:
What l declare is that as long as
William II. is emperor of Germany, the
Yankees shall not take possession of Gu
ba.'"
BERLIN, March 1.-THE Berlin foreign Of
flee has just instructed the inspired press
to deny emphatically that Germany will aid
Spain in case of with the United States,
and has instructed these newspapers to point
out that the United States is an excellent
customer Of Germany, and that Spain, since
the Carolinas squabble, has repeatedly shown
unfriendliness to Germany.
The Saint Paul globe., 1898-03-13
UNIQUE DISTINCTION ENJOYED BY
CONGRESSMAN MCLEARY

Admitted by His Colleagues to Be
One of the Foremost Financial
Authorities in the HOuse--Envi-
able Sound Money Record Made
by the Second District Represen-
tatiVe During His Short Public
Carecr-iTis Work on the Hank
Ing and Currency Committee and
IL General Review Of Some OF the
Measures brought Before That
Eody fer Action.
The Saint Paul globe., 1898-03-13
DULUTH GRAIN.

DULUTH, March 12.-Cash sales today were
1900 bu to elevators at 1c over May A
large amount of wheat, probably 25O,OOO bu,
was worked by Spencer, Moore & Co. for
opened Ac up at 971kc; sod at Nc up at 9:35;
at 975sc at e:45; at 96a4c at 1905, and 97c at
1910. decline to 965sc followed and then
1t jumped to 97c at 1885, and back to 96Ac
at IL o'clock. From there it advanced and
closed at 96Bc bid. Closing-Wheat No.
hard cash. $3.50 bid; May. 977sc bid; July,
$3.50 bid; September, 79c bid: Nc. northern
cash. 96Ac bid May. s624c bid: July 949ac