Daily capital journal. (Salem, Or.) 1896-1899, 1898-03-22
TIMES IN THE EAST.
Po-is-ass who Tskss an ongizzl v5sw
Of The1-

The foiloEing letter from q Port
lander 10 SeE York is rather At var
ieuee zith the general opiniOo of %
servers.
HFifth Avenue Hotel, View 1OTl
Cfty, Feb. I5.-EYery friend yO0 NEE
asks. How are times o. the Pscihi
tosst = aud receiving an answer, re
piles: Bad enough here This va
what I heard 70 81 Louls. Pittsourz
Philzdelpbis and DONIn View YORK
the fron manufacturer, says To
Philsdelpbis Pres, hoping agzins'
hope f0r rise 10 prices, have zbOui
given I'D 10 despair. II . true q gOoc
deal Of iron and steel is being manu-
fscture5. bat it j. sOld AZ prices that
yield 10 profit. Manufacturers can
not run their plants NithOut prOdt
they must shut down, aud all do =
mates mOoths, % tbey saY. IL tiDes
Do not mend. The cotton mills d
New England for three yezrs have
declared 10 dividends worth speaking
u. nov they are smut dONn.
'sThis ought 70 be the busy season
for hotels 10 New York City, but IL j.
not a busy seasDn for them, any more
than for the merchants aod am in-
formed il j. dull enough 10 the dry
zoscs trade. But the bOtels-the
Firh-AvenUe IL not more than halt
fBII: the View AstOr il just quarter
full. and the Waldorf j. barely half
foil u guests. Others are the same
With one exception, tue Manhattan,
which has reduced prioes-best f''OtDs
run frOn 81 70 q per day, aud you
can get a breakfast from ~ cents Up
70 si.Z5. For ~ cents sOu can get q
cup Of cOffee, two rolls and az egg; for
p cents, tw0 eggs, and 20 on The
Manhattan Is we'll filed. All the
rest will have 70 reduce charges CT
remain comparatively empty. The
Continental il ooe Of the best bos-
tleries Ia the Quaker City. 1t is 10
the same class with the Fifth-Ayenue
of New York. IL has put 5Oo rooms
ESQ 70 a 9 rate, board included,
and has filed up. The merchants and
people who travel haYe no longer the
money 70 pay high prices for any
thing. including hotel bills.
Bear lin mind, the Manhattan,
with its 2O-cent breakfasts, Is 10 ram
shake building, with sOuphOuse cuis-
inc. II is a lofty eight story, granite
structure, handsomely finished and
elegantly furnished, with cooking Of
the DelmOnico grade, and 10 style Of
architecture surprising the Fifth
Avenue, Of New York, or the Port
land, Of our own city.
"l was told by the president Of a
bank today that their deposits aggre-
gated $4,000, 900. He was IOaning
what little he could loan at the rate
Of | per cent per annuD. There II
nothing to put their deposits 10, ex-
cept 10 loan TO the stock gamblers.
The president OF this bank told me
10 years ago that for 20 years, since
he and his partners bought out old
John Thompson, the counterfeit
detectOr man, and started this bank,
under the name OF the First National
II had earned 200 per cent on its cap
ital stock, year by year. Now | doubt
II {. Is earning a tenth part Uf that
sum.
There Is one bank here, am told
that has s9O,OO0,OOO in deposits. Two
large banks with a million each 10 de-
pOslts have consolidated, 70 save the
cost OF separate organizations,
Truly, we are getting do~n TO hard
pan, But there are few men who
are beyond the fear Of want, such a.
John ID. Rockefeller, whose holdings
Ia the Standard OIL, all the morning
papers say, are valued at the market
price at $4,000, 600. He has iron
mines, lines Of steamers, and real
estate worth millions more. He Is
treading close on the heels Of the
Vaudebiits and away 10 the lead OF
the GouldS aud Sages.
"a great reYolution has taken place
in streets aud street service 10 three
years. Two years ago II was nothing
but granite blocks here, and Phila-
delphla cobblestOne paYements. Now
a third OF the streets are laid With
a sphat pavement. All OF Fifth ave-
nue., from one end 70 the other, Is
covered with asphaltum. And the
hanson cabs, the fOur-wheeler aud
most Of the omnibusses have rubber
tires half an inch thick, 80 that, no
matter wnatis payement,your vehicle
makes little more noise than a blcy-
Gle. IL Is delightful riding, 50 noise
lessly and swift.
A pair Of these rubber tires on a
hanson cost siO and will last a year.
The Pennsylvania railroad company
set the example, tirst at their stations
In Philadelphia and soon after In NeS
York. had the hotel telephone 70