davidaulloa/AmericanStories huggingface dataset:
The sun., 1901-10-09

ago. The great benefits to be derived
from combination of capital in the differ
ent industries in this country have as yet
hardly been felt. Heretofore the United
Kingdom of Great Britain and Ireland
held the lead in the amount of their ex-
ports, but during last year those of the
United States far exceeded them, and
every Indication -, from such knowledge
as may be obtained up to the present time,
that during the year of 1901 the exports
of the United States will exceed those of
the United Kingdom by a far larger pro-
portion than it did during last year.
1t is evident from these facts that the
United States will be the leading nation
of the world 1t is evident that we are
increasing credit balance of over $780,
100000 year from the trade of the
world. Another very important fact to
be taken into consideration is the fact
that we have also become the chief gold
producing country of the world, our out
put for the year 1900 was over Il million
and half a week. To-day we are fl
nancing loans for foreign countries, when
but a very few years ago we were seek
ing to place our loans in foreign coun-
tries, and during the last two years and
a half we have made loans to Mexico.
Sweden, Germany, Russia and Englanl.
One great factor in this conntry's prog
ress and its future progress is the fact
that it has so many resources within its
boundaries. Our great forests, our in
eXaustible supply of metal and COAL with
our vast expanse of most productive
farming lands, and with the territories
recently annexed to the United States.
Since the last election, it having be-
come well settled that the question of free
silver is at an end and that the Unite d
States stands on sound financial basis,
there has been a great rush for American
investments.
The commerce of the Pacific is as vet,
practically speaking. in its infancy, and
great developments can be looked for in
the future from that source. Judging
from these facts, it seems to be apparent
that the future of the United States is
fixed, provided the same progress is made
in the government of this country as has
been made since the close of the rebel
lion. OF course, we must expect some
movements. like that of the Bryan move
ment, to annoy us and to bring forth the
efforts of the best elements of our people,
and for short time to impede our prog.
ress, but the people of the United States
can be depended upon in any emergency
not to allow any policy to be followed in
this country which would result in any
serious damage to the country.
The sun., 1901-10-09

During the past year many things have
developed indicating the stability of the
financial situation in the United States.
The clearing houses show an increase in
surplus reserve held by the banks, which
indicates the vast increase of wealth and
shows that our country has very large
reserve of ready money ON hand, and is
in such condition THAT it can meet al
most any emergency arising in the money
market. In addition to this the United
States Government is in position in case
of extra call for money to take up a
large amount of government bonds, thus
throwing large amount of money into
circulation to avoid any great Stringency
or panic. This is well illustrated by the
quick recovery from the recent panic in
Wall street during May of the present
year. In fact, to-day the money market
hardly feels the effect of the May panic
A very noticeable fact is that since the
middle of the year 1873 the balance of
trade has been in favor of the United
States, with but three or four exceptions,
and in the year 1875 our purchases were
nineteen millions more than our sales,
during 1883 they were twenty-eight mill
ions, in 1899 in the neighbOrhood of three
million, in 1898 it was eighteen million.
These were the exceptional years when
the balance of trade was small and
were years of "hard times" In the year
1873 we had the great ranic. This was
brought about largely by the fact that
we were spending more money abroad
than our country made at home, but with
those exceptions the balance of trade has
been in our favor since 1873.
The industries of the United States are
developing rapidly. The capital in the
United States is also increasing, and
the time has arrived when to a very
large extent we are no longer dependent
upon the moneys of foreign nations. Our
country now places its government loans
at home and at lower rate of interest
than they could be obtained at in foreign
countries. We have such vast resources
in this country that it is unnecessary to
call upon foreign countries, with but a
very few exceptions, for any of our needs.
The great strength of combinations OF
capital in the different industries in this
country are being recognized by the
strongest nations of the world, and other
nations are coming to realize this coun-
try's strength, as will be illustrated by
articles which have appeared in the lead
ing English, French and German news
papers during the past year, noticeable
among which articles are several which
have appeared in the London Times,
and in the leading German newspapers
! will quote an extract from speech de
livered by Lord Rosebery before Wover
The sun., 1901-10-09
BALANCE OF TRADE GREATLY In OUR FAVOR.
tBy E. b. souTHwoRTH.)

tBy f. b. SoUTHWORTH.)
hampton Chamber of Commerce, in which
speech he said:
There are two nations which are obvi-
ously our rivals and our opponents in this
commercial warfare to come. ! do not
intend by any means to put others out
of this category, but / do say that it is
to America and to Germany that we
have to look in the future for an acute
and increasing competition with regard
to our trade. = The alertness of the
Americans, their incalcuable natural re-
sources, their acuteness, their enterprise.
their vast population, which will in all
probability within the next twenty years
reach 100,000,000, will make them very
formidable competitors with ourselves.
About the time of the delivery of this
speech there was some talk of an Euro
pean Economical Alliance" having in
view discrimination against the rapidly
growing industries of the United States
and the vast accumulation of wealth in
our country. One feature in particular
which the foreign countries were alarmed
about is the power given to the different
industries of the United States by the
very stToHS anu IONeTluI CumDlhdtioHS
of capital formed recently in that conn
try. An alliance of this kind would
be very difficult to form. and, judging
from the experience in the past, would
be of short duration. Those countries
which might be considered as being de-
sirous of checking our growth did during
last year purchase from Ills over 81 ,0O0,-
100000 worth of goods as against our
purchases from Europe of less than S450,-
100000, giving us balance of trade of
more than double the amount which we
purchased from Europe. This is nearly
complete change in proportion to the
purchases and sales between us since
1890. These figures show very plainly
that the European powers are not in a
position where they can make any very
radical determinations against our co,ln-
try.
Another point wherein our nations
greatness is particularly noticeable is its
manufactures. No country in the world
has made such progress as the United
States. For the past few years oui
manufacturing has been increasing at the
rate of 20 per cent. over prior years
Speaking of manufacturing interests, il
is only few years ago that our stee
industry was in its infancy, to-day W,
control the markets of the world, and i
is safe to say that we dictate the pric,
of iron and steel throughout the world
Our manufacturing interests have sur
passed the expectation of the most Ell
thusastic financiers of twenty five year
The sun., 1901-10-09
USES FOR FELT.

William s. Armstrong, secretary of the
American Felt Company, says that the
momentum of three years of prosperity
would probably be sufficient to carry
this country safely through any shock to
confidence that was likely to arise for
some time to come. An illustration of
the faith of the people in the continu-
ance of good times is witnessed to-day in
the continued activity of manufacturing
and mercantile business Notwithstanding
the sad events of the past two or three
weeks.
"A brief review of the development Of
the felt industry said Mr.. Armstrong,
.may serve to illustrate the reason why
no serious set back is to be anticipated.
The use of felt has been growing CON
stantly in a large variety of manufac-
lures during the past quarter of CEN
tury. For instance, it may not be gen
orally known to your readers that up on
the Pacific coast overcoats of felting
are made to be worn in Alaska in win
ter. instead of fur. The material Of
which these coats are made is about half
an inch in thickness and is built up on
ordinary woven cloth by process of
picking in the wool. Pianos have various
are in part composed of felt, polishing
tools in plate glass works are of felt
ironing boards i'm laundries are covered
with felt, as are the beds of large print
ing presses and many fancy cloths, lam
brequins and upholstery goods are now
made Of this material"
Mr.. Armstrong attributed the improve
ment in the felt industry primarily to the
imposition of protective tariff on wool,
and especially in recent years to improve
ments in machinery, by which the prod
nct of the felt mills has been made
cheaper.
The final evolution of the felt industry
has been the consolidation of half
dozen great mills under the name of the
American Felt Company, by which it is
claimed a saving of 10 per cent. has
been effected in the cost of production.
While each of the six mills had some
specialty before the consolidation, nearly
all of them also manufactured the goods
Of their rivals. Now expense is saved
Inv dividing the work among the mills
hest equipped for performing it. In the
purchase of wool. also, there is a large
saving. because this material is now OBJ
tanned in enormous quantities at dis
count.
.arhe increased profits of our constitu-
ont companies said Mr.. Armstrong.
"are not taken from our customers in
advanced prices. but result from our
higher organization and greater econo-
mics. While the profit on each article
manufactured is smaller than it used to
be. the increased volume of our business
makes the aggregate profit very consid-
erable. This principle is not peculiar to
the felt industry, but runs through all
classes of trade, and because the present
prosperity is founded in reason and
economy it must endure"
The sun., 1901-10-09

branch of industry, and industry has
been stimulated and new industries are
continually springing up, from the mere
fact that they are now assured of Il suf-
ficient supply of fuel.
The determination of American ship
pers to compete with the leading COM
mercal nations of Europe in the market
of China and Japan, has been materi-
ally aided by the consequences following
the discovery of oil by the sinking of
simple hand-dug well on the desert banks
of the Kern River.
1t is generally conceded throughout the
length and breadth of California that the
discovery of fuel oil in California will
add more to the wealth and prosperity
of the State than the discovery of gold
in 40; that, while there is evidence of
an almost unlimited supply in the State,
vet oil producers in the State are contend
ing that before many months the demand
will be even greater than the supply.
The railroads in the State are rapidly
changing their engines from coal to oil
burners. The immense street car rail-
way system of San Francisco has erect
ed the largest tuHk TtSeTNblI lhil hh'
ever been erected in this country and is
now in position to use oil on its system.
Recently contracts have been made for
six million barrels of oil to be shipped
to Hawaii to the sugar plantations, and
steamship companies are carefully con-
sidering the advisability Of changing
from coal to oil.
II is positively asserted that as soon
as there is a sufficient quantity of oil
in sight and in storage and their wants
can be easily and readily supplied, the
Pacific steamship lines are ready to
make contracts and change from the
old to the new.
While California is admirably situated
geographically to be great manufactur-
ing and exporting commonwealth, having
one of the best harbors in the world and
immense mineral ore resources, vet it is
comparatively backward because fuel has
SO recently been too high to permit man
ufacturers to locate within its boundar-
les. With sufficient oil in sight for a
fuel supply, California is destined to be-
come a second New England. Already
new plants are projected for manufacture
ing articles never before made in guam
tity in the West. The State is entering
upon a new and greater 1910. Horace
Greeley's advice, "Go West, young men,
is more applicable to-day than ever.
The sun., 1901-10-09
OIL FOR FUEL.

tBy FREDERICK A. JACOBS. OF THE
MECCA OIL COMPANY
For some years we have heard discus
sion as to how long it would be before
the supply of coal would be exhausted. 1t
has been frequently stated by engineers
that the next fifty or seventy-five years
would so encroach upon all the known
coal supplies as either to practically eX-
haust them or to force the price OF coai
up to point where manufacturing would
become almost impossible. Nature, heW-
ever. has so generously distributed her
wealth that where she has not given US
rich deposits of coal she has lodged, IN
the same general conditions, good sub
stitute, and in those sections where coal
has not been found, and where the lack
of cheap fuel has retarded the general
progress and interfered with natural re-
sources being developed as they should
of late, rich deposits of oil have been
discovered.
For the last twenty years fuel oil mas
been mined in California, but not IN suf-
ficient quantities to supply the large de-
mand for fuel, the lack of which has ma
tclially interfered with the development
al the great natural resources of the
State. During these last few years,
through a series of experiments, oil
burners have been perfected, whereby oil
is used in place of coal, with equally good
results. The great problem until recent,
ly has been to secure a sufficient supply
of oil for fuel in those sections where
coal was not found There is no longer
any doubt, however, but that California.
with its rich deposits of fuel oil. is in a
position to supply the Pacific coast States
with fuel that will enable manufac-
turcrs to take advantage of the natural
advantages offered on the western slope
and fer conf eting most favorably with
their Eastern brothers.
The Kern River Oil District is located
near Bakersfield, California. The dis
coyery of the oil and the rapid develop
ment of the field has opened up suffi-
cient source of fuel. not only for the
State of California but for the whole
Pacific slope. The far Western States
have now what they have long needed,
an annie supply of cheap fuel for every
The Washington times., 1901-12-18
THE VENEZUELAN SITUATION.
Germany Tries to secure Assurance
Regarding Americas Attitude.

Germany has been seeking from the
United States some expression indicating
what this country may do in case Ger
many attempts to collect her claims from
Venezuela.
Baron Won Holleben. the German Am
bassador. when he attempted to obtain
this information from the President and
the state Department. was referred to that
part Of the President message interpret
ing the Monroe Doctrine. and the incident
then closed.
His query was couched in diplomatic
language. and was in no sense notice,
official or otherwise. that Germany was
about to take action in the Caribbean
Sea. II is said however, that Baron Won
Holleben is highly satisfied with the an
swer thus obtained. and has reported 1t to
his Government The State Department
does not-and in this 1t acts for the Pres
ident-announce a hypothetical course OF
action to follow upon events yet to occur.
Germany, therefore. while feeling at
liberty to proceed upon bill collecting
tour of the Venezlelan coast. will do so
without any definite assurance from this
Government. State Department officials
will not discuss the probability of Ger
many's employing force, and, consistent
with the Departments policy. deny all
knowledge of any contemplated movement
by that country.
The Washington times., 1901-12-18
SEE POLITICS In SELECTION.
President Thought to be Smoothing
Way for Nomination in 1901.

Air. Payne's selection by the President
TO be a member OF his Cabinet is regarded
by some 10 mean that Mr.. Roosevelt un-
derstanes ihe Importance of having an
experiencrd politician on his side in the
campaign fer the Presidential nomination
in l9cL "a
Mr.. Payne is reported to be one OF the
most shrcwd and capable political man
agers in the country. He has been for
several years chairman of the executive
committee q the Republican national
committee Ind the right hand man OF
Senator Hanna in the last two rational
campaigns. He is, moreover. a successful
business man. and has been accustomed TO
handle large affairs. 60 thc: he viii be at
home in the office Of Postmaster General
Hr. Payne's appointment was daridcd
upon when he was here ten days ago. and
the fact that IL lid NJ. leak OUT shows
that President Roosevelt knows how TO
keep q secret Senator iPocne- OF Wis
consip and one or two other close friends
of the President were the oalv men lie
took into his confidence 1n the subject,
and they respected it with sIal faith
fulnaEs.
Before the death of President Mckinley
Mr.. Spooner was thought 10 be a very
Lr0misinE Presidential candidate but
PayBe's appointment plainly Indicates
that he VIII not be a candidate in 1904
but that Wisconsins vote viii 20 to
Roosevelt
During all the years that Mr.. Payne
has been 4 member of the national com
mittee he has had a hobby-Lhat il is the
paramount duty Of the Republican party
10 cut down the Congress representation
from those Southern States which disfran-
chise the negro He has introduced
resolution fcr this purpose in several
national conventions and was very per
sisient ia urging It upon the national
committee at its meeting here in 1900.
It required all the force at Chairman
Hanna's command 10 convince Ar Payne
Of the uselcssness OF forcing such rcso-
luton upon the committee.
when Nr Payne was here recently to
consult with The President about his ap
pointment he gave to the press a long
interview advocating the reduction of
Southern representation. in proportion to
the suppression OF tie negro vote.
The Washington times., 1901-12-18
HOMECOMING OF DEWEY.
Washington Reception Committee
Issues Souvenir Volume.

Wash ton Reception committee
Issues q Souvenir Volume.
The committee which arranged the re-
ception to Admiral Dewey upon his re-
turn from Manila two years ago has pre-
pared handsomely bound volume con-
tanning a report of its work. 1t Is com
plete history of the Admiral's home-com-
ing cleverly told, and was arranged by
Mr.. w. v. Cox. under the direction OF the
committee.
The book is bound In blue cloth, with
the Admirai's flag and letters in silver
upon the cover. II contains full list OF
the several sub committees. together with
their reports and the action taken. as
we'll as a story OF the ceremonies OF the
reception and an account of the presenta-
tion to Admiral Dewey of the sword voted
him by Congress In recognition of his
services in the destruction OF the Span
ish feet in Manila Bay. The book also
has number of fine half-tone sngray-
ings. the frontisplece being a picture of
Admiral Dewey in fatigue uniform.
other views are of the military and
civic divisions OF the parade and of the
scenes during the presentation OF the
sword at The Capitol. The book is a yalu
able souvenir of the memorable occasion.
The edition is limited to 7o0 copies. and
is intended for those who contributed to
the reception fund. The remainder will
be distributed after January, 1902, among
the libraries and universities.
The Washington times., 1901-12-18
The Death n.rord.

The following deaths ..r tSenty -four
hours were reported at the cath Depart
ment ~ TO noon yesterday: Mary Lacy,
% years Thomas r.. Benson, 81 years
Dennis Horrigan. "A years, Nathan Towne
~ years: Lcmuel Jackson, IL year,; VII
liam Won schepke 6 year, margaret Lee
IS years: George B PJIa7 :, 81 years; Hen
rietta Craytor. 80 ears, harriet A. Web
ster . wears; WILLIAM NJ. Taylor. 81
yearg: Lucy Thom- ~ years Minerva J.
Cook. y years: Kaiin Johnso. 80 years
Matilda f. Benson, - years; butler Il
Gilbert. 20 years; Lewis f-t-kins, Is years
MARY Webb. p years: Tony Lali sata. p
years: Robert z. Miller. months; Charles
Day 3 months; infant Of Pearl Anderson
l day: infant OF Cora Bowling. l day.
The Washington times., 1901-12-18
DIED.

DIED.
BERkELEY-Ou December H. 1901 IRiSE,
yumyc-; daughter of Henry :. and Kate 2.
Brrk slcy. aged four years eight months,
Funeral from parents residence. gI2 C Street
outhclst, Wednesday. December u, Ie0i, at II
u M. mi
NEsr- LAURA NJ (nec HORN. dearly beloved
wife Of Nlbrctht Nest, in the thiry-sisth year .:
her age.
Funeral Wednesday the 18th instant from her
late residence No. 2lu Arthur Place northwest
1T a. m Friends and relatives respectfully in
vitnd to attend.
Richmond. Va. Brooklyn, y. V, and san Fran
,isc6 Cal. papers please copy. ell
TooMEY-On Monday. December 10. 1901. az
D. M WILLIAM LEO, beloved son Of Joseph and
Nellie Tnomcy (nee Crouin), aged five months and
nine days.
Funeral from residence 1875 Florida Avenue
northeast "Wednesday. December Is. 1871. at
m. Friends and relatives respectfully invited
ta attend.
philadelphia and Pennsylvania papers please
copy.) e
sPAIGHT- On Monday. December l6, 1901, at 4
m JCIIA beloved wife Of James spaisht, and
daughter VI Ably and the late john Eagan.
Funeral Wednesday morning at $3.50 a. M. from
Ler late residence g:s Fourth street northeast
Friend. and relatives invited to attend elo-9
The Washington times., 1901-12-18
Drug store Robbed.

Thieves made a rich haul when they
broke into the drug store Of Nelson G.
Miller. 426 Seventh Street southwest. last
night The store was entered by breaking
the lock on the front door The house
breakers got money order for 49, 500
worth OF one. two and five cent stamps.
and $3.50. The robbery was discovered
by Nj Miller. who notified the Fourth
precinct police station.
The Washington times., 1901-12-18
SPECIAL NOTICES.

NOTICE /. hereby given that 80 shares Of the
Clpital stock OF the National Contractors Agen-
cv Company OF Wa.hIngton d. G., standing on
tho books OF the said company in the name OF
Nurths +. Quinn. OF Philadelphia, Pa, wall he
old AZ public auction at 10 a IN. the FOURTH
nay or JANUARY. 1902. at Room Sis Bond
Building, Washington. d. e., In pursuance Of
section 20 Of the act Of the Delaware Legislature
entitled An act providing a general corporation
law approved March 10. 1892. providing for the
forfeiture and sale OF unpaid subscriptions; for
which aforesaid stock there Is due on as
sessrneut by the said Murtha p. Quinn II $50 90,
or 81 10 per share and interest from the first day
OF January 1901 with incidental expenses.
daIi-tG-a5 HOWE TOITTEN President.
The Washington times., 1901-12-18
THE TINES COMPANY.

NOTICE OF ELECTION Of THU SIEhs-
NotIcs Is hereby given that meeting OF the
stockholders Of The Times Company will be held
at the office OF the company in the Hntehins
Building. corner oi 10th and d sts NV. Wash
ington D. c.. on the 18TH DAY OF JANUARY,
ioG2, at 2 O'CLOCK =. ~. for the purpose OF
electing five trustees for the ensuing year. and
for tbs Transaction Of such other business AS may
properly come before such meeting.
Dated Washington, d. C.. December u. 1901.
W. J. DANTE,
deIs-In Secretary.
The Washington times., 1901-12-18
,,n Practice In Appellate Court.

Messfs. william A. Edwards, Frank y.
Rcneud. and Martin C. Huggett were yes
tcrday admitted TO practice before the
COur, Of Appeals for the District. on mo
tion OF n. w. Baker and ". c. Clephane
The Washington times., 1901-12-18

REruHT or THE CONDITION
OF the
WASHINGTON LOAN AND TRUST COMPANY.
Al Washington. in the District OF Columbia. at
the close OF business December 10, 1901.
RESOU RCES