The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-18
Nv Was Given Over to the Reading al
Papers on Interesting Subjects.
hjlroad Rates and Terminal Charges Will Furnish
IA Very Lively Observation-Disclosures Favoring
Leases Was Talked To, but Not Acted On.

rvsry state in the American Union
~ me Territories save Alaska were
-.sented and The gathering has been
,nsuished in other ways. The discus
!, nave been animated and interesting
II much profit to all the delegates.
worth is doing herself proud in the
ser OF entertaining the immense
al present. Every visitor has been
!, 10 feel perfectly at home. Those
cared TO attend to business have had
sndid opportunities and those who
hea for fun have had their full share.
~ Idaho delegation, consisting OF
sty-one members, is avowedly against
isasiug plan that may be laid before
convention Ii is expected that they
take important action on the leasing
rem before adjournment. Rates and ter
nj charges by railroads are subjects
rhich the delegates are Interested and
ively debate Is anticipated when reso-
inns hearing on these questions are in
iucsd.
Fcday's session was devoted mainly to
reading Of addresses by prominent men
crested In the cattle industry.
he delegates were very dilatory in
ching the convention hall this morn
and when President Springer called
convention to order at 10 O'Clock
attendance was not so large as it was
,Ardsy. lnis Is explained from the
that the visitors INDUCED in one
tnnsl round of enjoyment last night,
lie possible through the efforts of the
ii committee having in charge this
of the programme,
per announcement made yesterday b.
sident Springer he opened the MORT
session promptly at the hour of 10,
said he proposed from now ON to adj
4 closely TO the programme, The
ktdsnt announced that at the opening
the morning session an opportunity
BID be given those who had resolutions
bffer them.
hr. Bolton of oklahoma offered a reso-
hon favoring the admission OF Okla
na New Mexico and Arizona into the
lon There was a similar resolution in
luced yesterday by the entire Wyoming
egstion Mr. Bottoms resolution went
the committee on resolutions.
be president, on behalf of the assocla-
accepted the hospitality of the Texas
wing company to visit that plant and
the date and hour at 4:S0 tomorrow
rnoon.
E. De Ricqule's address ON "1he
Stock Securities" was then read;
be basis of all business is confidence.
i word as applied to men, govern
It's, or as between nations, Is the key To
H. In these times of great under
ngs, it is safe to say that Is per cent
all transactions are carried, on bor-
cd capital. In other words, the bulk
be money Of this and other countries
the hands Of few. while the forms
business are in great variety In a
itude of hands. This being true, a
mess Will prosper or not as 1t finds
Pr In the eyes of controllers of money,
capitalist looking at the proposition
the basis of intrinsic value of the
Perty and from the points of view OF
ndence tiirst) in the integrity and (scc-
IN the ability of the men in control
ne undertaking. Value. integrity. abll-
these three words are the key to II
the rest is simply detail. Live stock
onsidered by capital on these same
Yards Just as any other security. In
word value, depreciation and risk
included.
e live stock industry is one that re-
g considerable sums of money, but
business of SO many different
incatlons and values that in past
capital has been timid. You all
mat there is wide difference today
y value of cattle and sheep through
us sections of the Southwest, just as
dinerence in the risk in win
STOCK cattle among the haystacks
= colorado valleys as compared with
us tnem out on the ranges of the
Was These differences have appeared
country has developed, and there Is
Vnsef q value that can be fairly APP
senefaily to the cattle of the South
aud conditions are SO unlike in va
parts Of the Northwest that to have
:. i've stock classed under the SAINT
Ftee. W ' -o''
Integrity Of owner enters into al
Nes' out perhaps in no class is il
sential as in the live stock business
Ivy or hundred miles away from
railway, with their cattle or sheer
s',u over a wide country on the oper
nave opportunities to defraud that
y. come to the men who borrow OF
slafy securities such az factories
=, goods or dwelling houses. The
WIN which live stock can be moved
pace TO place enters into its hazart
sesnrlty The range men understan,
~ tney would do well to prosecut,
pesson doing anything dishonorable
would a cattle thief. do MOI
mat there is a more honorable
!. men In the world than the actua
OF live stock of the West. Thi'
!: - capital is finding out. il is whai
~ Y 70 learn better every day, il
|, oue lesson above all others tina
men, away out on the plains o
4, " up among the snow caps Of
d should Impress upon his boys
aoole all else
rnii d. Armour's paper on the
I NJ NJ OF the Packing House TO the
y NJ :. industry" This paper was
* .. Sotham OF Missouri, presi
'ue American shorthorn associs.
dsrsnsrh Packing house is an evolu-
{. ns'oped out of commercial neces-
ku,,s. reiauon TO the cattle industry
kaaa. intimate. for IL is largely
~ upon this industry. which IN
M stimulated and developed b,
hoaern packing house eminentlS
Y M, scientific commercial meth
/, business Of provisioning the
y ss ass logically displaced the
enomisnter house By the application
lons only obtainable in extensive
h a rood has been cheapened
IA bssAs same time raw materials
7. " ,,o, nase been advanced This hal
x al, ~ ~ scientific utilization Of mate
III AZ Yineriy, n many cases. were
ar,i, .oss rather than OF profit.
knsa mprovtng appliances for re
y a,.,,a,ansrortatior solved the prob
& ,n,,, 'ou.'on, and this. impossible
49,. sfalt tends mare ana NOR.