New-York tribune., 1901-08-20
BRITISH RAILWAYS.
INVESTORS DISSATISFIED WITH RE-
DUCED DIVIDENDS.
ABOUT SOUTH AFRICA-PAN-
CELTIC CONGRESS-

ABOUT SOUTH AFRICA-PAN-
CELTIC CONGRESS
ccopyr4ght; 1901: By The Ne1v-York Tribune)
GBE CABLE TO THE TRIEUNEl
London Aug. 90 1 a. m.-The question of the
nosition and prospects OF British railways as
Investments is exercising the minds Of many
,eople in this country just now. The Importance
n the matter cannot well be exaggerated for
,he capital involved amounts TO something like
ss000O0000O- Investors are naturally dissatis-
fed with the reduction in their dividends and
oue solution OF the difficulty which has com
nended itself 10 many stockholders is the pro-
,osed raising Of fares and rates. At a time.
however, when cheap transit is admittedly one
n the first necessities Of commercial progress
such a reactionary policy is not likely TO be
adopted. Possibly the most urgent reform
reouired in the railway system of the United
kingdom is the replacement of large proper
ton Of the present boards of directors by thor
oughly competent business men, The Pail Mall
Gazette" points out that while the average
oapitalization per mile is now $500 600 for every
mile constructed during the last two years
5000 has been added TO the capital It is
impossible 10 Justify such proceeding. but the
boards Of directors as at present constituted
cannot be expected to draw a rigid distinction
between capital and revenue expenditure.
The amended design for the Victoria Memorial
meets with the strong approval Of the majority
Of the independent experts who have examined
It. and the committee feels confident that the
popular verdict will be favorable. There is how
ever, one detail of the scheme that is certain
70 be much discussed. The names Of the great
men OF the Victorian reign are TO be recorded
on tablets around Brooks monumental group
Of statuary. The selection Will be an extremely
difficult task and cannot possibly satisfy every
body.
There is q renewed feeling of hopefulness that
the war In South Africa will soon be at an end
The position is different from that obtaining
at any time since the outbreak of hostities in
October, 1899. Natal is clear; Cape Colony is
rid Of Krtzinger; in the Orange River Colony
there is practically little opposition. while in
the Transvaal there are not many symptoms OF
Boer activity. Rumors OF important develop
ments freely current. It is stated that the
funds OF the Boer leaders in Europe are now
absolutely exhausted and it is certain that the
ngors Of winter have told on the burghers in the
fed.
Much interest is being taken here IN the pro-
ceedings Of the Pan-Celtic gathering in Dublin.
II is regarded a plea for the maintenance of
the ancient languages and customs and as an
exhibition of sympathy between the long scat
embodies a remarkable idea. The congress
opens to-day with a gay procession, and apart
altogether from its distinctively Celtic character
the display viii be picturesque protest against
the dull monotony OF twentieth century exist
ence
Glasgow is intensely excited by a report that
the City Line Of steamers which is one of the
Oldest shipping concerns in the West of Scot
land, has been purchased by Mr.. EIlerman. The
City Line, which is well known in the East
India trade, numbers fourteen vessels, with an
aggregate measurement of about forty thousand
tons. II MI Eerman who carried through
the recent sale of the Leyland Line to an Amer
lean syndicate, at the head of which was ].
Fierpont Morgan, and it is rumored in some
quarters that 1t is for this syndicate that Mr.
Ellerman has bought the City Line
The disaster to the Canadian Pacific liner Isl
ander is commented upon by nearly all of to-
days papers In some particulars the tragedy
recalls the loss Of the North German Lloyd
steamer Elbe. which sank off the southeast
coast Of England in January. 1895. On that oc-
casion 3S5 lives were lost, but the circumstances
Of both collisions curiously similar.
Arrangements for the national commemora-
ton Of Alfred the Great are in a forward con-
dition. One Of the two granite monoliths which
are to form the base for a colossal statue has
already been placed in position, and on Septen-
Der 20 the ceremony of unveiling will take place.
Certain notorious districts in London are be-
coming shockingIy demoralized through the
Spread Of 'Hooganism." A vendetta between
rival gangs in Clerkenwell, resulting in a boy
~ounding another with a pistol is the latest
development Of this increase of unchecked street
Tuflanism.
elr William Kingston returns TO Canada this
week with his daughter after a pleasant holi-
day IN r
SURPRISED A BOER LAGER
KITCHENER REPORTS THE KILLING OF