davidaulloa/AmericanStories huggingface dataset:
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
EBBANDFLOW N PRICES
Facts About Periodicities In
Stock Movements.
VIEWS OF A WRITER ON FINANCE

Philip King shows How Each of
These Movements Of stock Market
Elevation or Depression Occupied
With Remarkable Regularity Very
Nearly Five Years Of Time.
The obedience which acute market
fluctuations, such as those of panics.
pay to certain immutable and perfectly
understood laws inevitably suggests
comparison with larger undulations Of
prices requiring years instead Of days
for their rise and fall That there Is a
periodicity In movements of this kind
has long been observed by statisticians.
says Philip King in the New York Sun.
It is as true Of general commodities.
pig iron, pork, grain and cotton, as 1t Is
Of securities. It has been observed in
every country and at all times, but
more in our own land than in any 9TH
er, since here great POLITICAL commo.
lions or the fear of them has rarely
disturbed natural laws. and the arena
has been left free for the normal scenes
attending the development of a country
Of p%rodigious resources by a numerous,
energetic and sanguine people. There
Is nothing magical about these recur-
ring intervals or anything more strange
than that which makes the incoming
wave Of the e recede again after It
has touched the shore. 1t is the simple
play Of action and reaction In economic
forces, the continual effort Of produc-
ton and consumption to balance each
other In the Industrial life Of a people.
After a period Of financial depression
In a nation, with panics, bank failures
and q host Of similar evils, It is found
that the great body Of the country II
stu spared and that It's citizens are yet
industrious and strong. Expenditures
have been reduced during the hard
times to very low limits. and while
consumption 10 At . minimum produc-
don has well nigh stopped entirely. A.
confidence becomes restored and good
times begin. production picks mp GIN
geriy at arst. but finally very actively.
The record Of these epochs IN The
United States, taken with special rel.
erence to the fluctuations Of the stock
market makes interesting reading just
ct this time. The medsR Ananciaj hi
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
Will Educate FHipinos.

Washington, June 2O-The trans
port Thomas, carrying teachers to
Manila, will sail on July %. Judge
Taft cabled today approving the re-
quest of Supt. Atkinson, who has
charge of the schools Of the Philip.
pines, that ten additional teachers be
designated from Yale, Harvard, Cor.
nell, the University of California and
the University of Michigan. These
teachers are paid $1,000 per year
Their appointment lies wholly with
the Philippine commission.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
PARTIALLY INSURED.
Several Manufacturing Concerns At
st. Louis Burn Out.

st. Louis, June pa fire, which
originated in the establishment Of the
John B. Sickles Saddlery company at
Twenty-first street and Washington
avenue today, consumed property and
stock valued at nearly 100000. The
loss was partially covered by insur-
ance. The ]. B. Sickles Saddlery
company, the T. F. Reynolds Carriage
company, the Lambert Pharmacy
company and several other
Of minor Importance are the losers.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21

tory, which no one can fail to observe.
il that each one Of these movements OF
stock market elevation or depression
occupied with extraordinary regular
ity not far from Eve years of time.
Whatever may be the swing Of this
mighty price pendulum In the future.
it has in the past moved u~ndeyiatingly
as stated. So there is ground at least
for the inference that production and
consumption in our country have In
nings. each Of them, and both OF them,
once In a decade. Those who attach
Importance to this presumption and
even those who do not may therefore
lind It well to remember that prices on
the New York Stock Exchange have
risen steadily since Aug. 8, 1896. The
drop which came in 1899 only went q
small way down to the 1895 level. II
m Investor was convinced, therefore,
that another period Of falling markets
was nearly due, lie would place his
money in securities of the very high
est class, content to accept q low rate
of interest for some years for the pur-
pose Of safeguarding his principal.
The Spectator who is imbued with
this theory, however, will endeavor in
the first instance to FIX as exactly as
he can the high point at which the up
ward movement of prices eliminates.
He will be guided In ascertaining this
by remembering that. while the prices
Of commodities and those of securities
rise and fall in nearly the same degree,
the movement Of securities invariably
precedes that Of commodities, SO that
long before general business shows
signs Of disaster a retrograde move
ment upon the stock market will be in
progress. The %speculator will also
watch with extreme care the different
minor upward movements and reac-
lions in the market for the purpose of
discovering whether prices go higher
on each upward movement than they
did previously and whether there is
some one point that Is clearly the apex
Of all the rise. When that apex Is
once established in his mind, the spec
ulator will then naturally put all his
property into cash and sell stocks for
the decline at opportune intervals, just
% In years gone by, when the financial
sky was black and starless, he fear
lessly bought them for the rise.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
TO RUSSIA AS ARBITRATOR IN
BOUNDARY DISPUTE.
CANADIAN FUNNY STORY
Concerning Proposition for Fix
ing Lines in the Far
North.

Ottawa, Ont, June 20-A published
statement to the effect that the
United States would offer to submit
the Alaka boundary claims to Rus
sia's arbitration was called to the at
tention of Sir Wilfred Laurier today.
He was asked if he would be willing
to concur in such a proposition.
mo such proposal has reached me
as yet" replied Sir Wilfred. "When
the proposition is made my govern
ment will be ready to consider it,
you were willing to submit the
claims to arbitration when the joint
high commission was sitting, were
you not?" he was asked.
"Oh, yes, was the prime ministers
reply. Look at the late protocol
laid before the house. Protocol sc
Of the joint high commission contains
the offer of the British"
The British commissioners assent.
ed that the commission, having been
unable to agree on that question, il
should be referred to arbitration.
The articles are very lengthy, blu,
the proposal vas that a tribunal con
sisting Of three, one on the part o.
Great Britain, one on the part Of the
United States and the third to be Sc
lected by these two. The general
opinion here is that Russia would moi
be satisfactory to Great Britain.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
LACKS EFFICIENCY.

England's Mediterranean Fleet Want.
ing in Strength.
London, June 20-The Daily Mail
publishes a letter from Rear Admiral
Lord Charles Beresford to it's cores
pondent complaining of the want OF
proper strength and efficiency in
Great Britain's Mediterranean fleet.
Lord Charles says that his duty as
second in command of the feet, pre-
vents his giving his reasons publicly.
He further says that he has commune
Gated his views on the subject to the
proper authorities in as strong and
clear Anglo Saxon language as he
can command.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21

tory Of the country dates from the
close Of the civil war. In 1867 we
found ourselves with an enormously
expanded currency. due to the issuance
Of paper money during the war, with
large fortunes in the hands of men
who had reaped them from war con
tracts and with hundreds Of thousands
Of soldiers home from the south with
nothing to do. but full Of enterprise
and daring az the result OF their war
experiences. A general boom was In
evitable, and 1t ran unchecked until
1872. Then the government began to
contract the currency in preparation
for the resumption of specie payments.
Jay Cooke, the famous Philadelphia
banker, and his great railroad schemes
smashed. pulling down banks and mer-
camille houses from the Atlantic to the
Pacific. The greenback heresy or de
troll Of many state legislatures and
elected governors and congressman.
The depression ended in the disastrous
railroad riots Of 1877. Then prices
again began to rise. Good crops came
Tor several years in succession. A
great era of railroad building dawned
v e the western country. many roads
tripling and %quadrupling their mile
age. It was a time of u~nbounded spec
ulation in every direction, the prices
Of railroad and all other stocks rising
to extraordinary figures. until the as
saSsinatiOn of President Garfield In
1881 caused people to stop and think.
A period Of decline set in. which, pro-
ceeded irresistibly despite the efforts
Of men like Jay Gould and William 81.
Vanderbilt to stop 1t. A great railroad
conflict between the trunk lines broke
out. In 1854 came the memorable fail
ure Of Grant & Ward. with the con-
sequent ruin Of the Marine bank and
numerous Wall street houses. And SO
things went on In a bad way until
the railroad troubles ended with the
settlement Of the West. Shore-New
York Central paralleling scheme in
1885. Then from 1885 the prices Of
stocks again moved up to q high level
In 1890. A temporary fall, which did
not carry prices az low az they were
IN 1885, was caused by the war among
the granger" roads In 1883 but sue
ceeding this came two years Of heavy
rainfall over q part Of western Kansas
and adjacent territory. that T. FORMALLY
aid and almest wholly destitute OF
moisture. The whole region blossomed
under the showers like . rose Mag
nif,canf crOus were raised there, and q
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
klondike Gold Coming.

Seattle, June 20-The first gold
shipments of the season r now on
the way from Klondike. Sums ag-
gregating ST. 500, 900 were started from
Dawson June IA on the river steam
ers Canadian and Zealandia, accord
ing to telegraphic advices received in
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
Wanted Better View.

Berlin, June 2O-While the crown
prince was en- route from Minden to
Bonn a drunken man aimed a blow at
the window where the crown prince
was seated. He was arrested and said
he merely tried to e the prince
more clearly.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
ahaw,s Good Ridina.

New York. June 20-shaw. the
Jockey, all but duplicated his suc-
cess OF yesterday at Sheepshead Bay
today. He rode three winners and
was only beaten by q head In the
last race Of the day. He scored his
victories on Ten Candles In the third,
Watsr Color In the fourth and Dark
Secret In the nth race.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
II END.

Barker Case Will Go to Jury This
Afternoon.
New York, June 2O-The case of
Thomas G. Barker, charged with the
shooting of Rev. John Keller at Ar
lington, N. j., last February, will go
to the jury in Jersey City tomorrow
at about 3 o'clock. A verdict may
reasonably be expected before night.
Before court adjourned this evening
the evidence was all in and nothing
now remains but the argument of
counsel and the judges charge.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
New Texas cusher.

Sour Lake, Texas, June 2o-The
we'll recently bored by the Guffey
Petroleum company developed into q
gusher unexpectedly this afternoon.
No attempt to the flow has
been made, but estimates put it at
10000 berrels.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
Insurance swindlers.

Chicago, June 20-Eight well
known men were arrested today
charged with over insuring small
stores, which frequently burned.
Eight more arrests are expected. It
ID alleged that they collected $76,-
600 from various insurance COM
panies.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
Another Body Found.

New York, June 20-The body OF
General Charles g. Bartlett, one of
the victims Of the sinking OF the fer
ryboat Mortified, was found today in
East river.
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21

Bring N your shoe repairing. Post.
once basement ct
The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-06-21
FILIPINO LOSSES.
Estimate Of Native Casualties In Re.
cent Fights.

Manila, June 20-It is estimated
that 40 insurgents were killed OF
wounded during the recent fights in
Albay and sorsogon provinces.
Provost General Davis has submit.
ted q plan for a municipal government
for Manila. which the Philippine com.
mission is modifying.
The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-30
Joe G, TO II first, Peace.naker @ 20 , sec
ond. Chiffon go to u third. Tine, L.
BOXING MATCH HERE.
Local Sports Enjoyed Co o" MON
day Night.

About thirty local sports, with a NUMBER
of visitors. enjoyed Il boxing match al
Eerry,s Broad street place Monday night
The principal event was a four-rouha q
bout between Professor Dumohu, oA
Philadelphia, and Kid Duffy, OF New or
loans. The men were not at even weight,
DLmond going Duffy better by eighteen
mounds ana he outca.;.sed the Ne"
Orleans man. Both men exhibited good
scientific training 80,
The go was enjoyed by the sports. Botn
men had their friends and hackers, ana
even with the spectacle of the l>!d punch
ing AT the air. while the Professor sa"
tam at will and landed in an SORTS %
ways at pleasure, there were those whose
faith in the Kid as against the Professor
we're not shaken, and they We're
willing to put up their man against llie
professor or any other man at same
weight for a knockout so. either IN Yin,
cinnati or any other place where II couiu
be done.
The little exhibition was well cohuuct
cd No foulins was INDUCED in and no
singing was permitted. while the $40"
was for points only, and the Sport "'S
clean and enjoyable ~, 1,ar-
Following the principle bout, Pm ne
w mt on the mits against ouhS
Isaacs. and two cleverly- generated ROUNDS
We're given. nre
Dumond is from Philadelphia ana Duiis
from New Orleans.
The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-30
TO RETIRE BRANSFORD.
Thought That Congress Will Adopt
Mr.. Lambs Measure.
{Special Dispatch to The Times.)

WASHINGTON, January 29--Rep-
resentative Lamb, of Virginia, had con-
ference with the speaker this morning
relative to the promotion and retlrement
of John F. Bransford. of Chesterfield
county. with rank of surgeon.
The Speaker took the papers IN the case
and will doubtless recognize Representa-
tive Lamb for the passage of the bill.
The Senate Committee on Finance mas
not vet reached an agreement on the tax
on smoking tobacco. a reduction OF the
tax OF, plug tobacco to nine cents VIII
doubtless. be recommended. but smoking
tobacco is understood to be still under
discussion 1t is also understood that the
committee will report in favor OF re-
bate.
George L. Browning. of Madison Va
passed through the city on his way to
Richmond, also John T. Harris, OF .Har-
risonburg, who was going to Philadelphia
in an important law case.
1t is certain that an effort Will be MADE
| in the Senate to reincorporate the pro
vision for the Holland torpedo-ooat IN
| the navy appropriation bill.
The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-30
AMUSED ENTS.

creston Clarke and Adelaide Prince re-
ceiye5 a warm welcome at the AcaoelhH,
Iast night in THE Last of fis fsace.
The play. q romantic dra anna. " iia at,a4 to
nv t'reston Clarke, and is Wen Htleu ~
b;S ,arsnnalitv While the dialogue uis-
nlays no especial brilliancy, the Pio1 -
interesting and the climaXes strong. nc
second act is weak, put the tlill ~, ~, -. 70
acts were we'll conceived, ana tlie S.ai q
ceiyed many curtain calls alter the uuei
scene in the Garden de Champces I'D
Craston Clarke bears a striking 1acial ie
semblance to his uncle. Edwin Booth' anu
is an artist of much promise. His train
ing has been thorough. and ms talelllS
may mature into the perfecton Oh genus
His acting is graceful and yet icrceIui,
and his elocution is most attractive. his
rendition of the dual role of Prince
Okolski and Louis Cardel sharpens one
desire to see him as Hamlet ana othei
characters of the master bard
Adelaide Prince was charming as Marie
de Neville. and demonstrated that she
is worthy associate of Mr.. Clarke. Inc
Clovis of Priscilla Muldener was excel
lentlv portrayed, and while the balance
of the cast was not remarkable Iii any
resnect there was a faithful endeaVor to
make a capable production OF the play
The scenic effects We're pleasing. and the
entire production was lar ABOVE TIC
average.
STUART ROBSON TO-DAY.
Smart Robson has meyer made a more
oonsnicuous success than in his lmper-
sonation of Tony Lumpkln IN she otoops
tos :, onquer. IT ls ,iie
orite character and one which mas never
failed To give the best of satisfaction 10
hiS audiences Mr.. Robson re I've
Sioops to Conquer" in response 10 the
General request of his admirers. he mas
a strong supporting company, WIN Suci
well-known artists as johii II. iieiits c. :"
stephen Gra1can. ii. a. Weaver, ST.
Maud White, Jeffreys Lewis, ana otnels.
The performances at the Academy at the
matinee and tonight will undouoteolE
draw large audiences.
"A YOUNG WIFE.
One of the greatest successes of the
season in New York is the new comedy
drama, "A Young Wife" which Will be
seen here on Thursday This play IS from
the pen of J. X. Tillotson. who has writ
ten a number of successful dramas, among
them ..The Planters Wife. 'Lynwood,
"Oueena'' and others. "a Young Wlle
finished a seven weeks run recently at
The Fourteenth-S Street Theatre. New ork
and was only taken off because OF the
existence of prior contracts when could
not very well be changed.
Much interest has been manifested in
society circles in the coming engagement
of Lord Eric Hope, the Earl of Yarmouth,
who will present his new play. Il he
Councillors Wife," at the academy on
Tuesday. February 9th. Mabel DiXey, a
sister of Henry Z. DiXey. and John and
Agnes Findley are recent accesslons TO
the cast.
The manv admirers of Sol. Smith Rus
sufficiently recovered his health. to under
take a short spring tour He "lli appear +
at the Academy in "a Poor Eela1'on
3 early in March.
The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-30
TO PREVENT THE FIGHT.
Suit Begun to Iinjoin Heavy Weighs
from Meeting.
(Ey Associated rrcss.)

G:y Associated rrcss)
CINCINNATI o, Jan 29-Sult was pc
gun to-day before Judge Howard HOLSTER,
of the Common Pleas LoE:i Ii elJoin the
proposed Jeffrl.es-Ruhlin contest teoru-
airy -. This proceeding Is n the nan'2 OF
tie State by Acknowledgement sheets. at
the direction of Governor Nash. 1t Is
understood. however, that the real lnstl-
gators are the ministers and c1her ere
ments of his city who are opposed TO the
fight.
The petition that was filed to-day de-
clares the proposed prize fight to be
nuisance and a restraining order as want
ed on that account. rather than undet
any of the sections of the Ohio statutes
pertaining to prize fighting.
40 application for AN injunction was
made to-day as it is decided first to have
notices served on the defendants 50 as 10
have hearing on the merits OF the case
1t is said that the attorneys OF the
Saengerfest Athletic Association Will not
only accept service Immediately, but also
request as early a hearing as possible.
Those seeking to prevent the fight have
engaged a formidable array OF legal talent
including Judson Harmon, who WIS at
torney general under Cleveland, ana Law
renee Maxwell, Jr., formerly solicitor gen
eral of the United States.
Jeffries and Rubin, who We're arrested
Inst night and held in $1,000 bond, Will
have their hearing on Thursday. 1t is
understood that this proceeding is a it1e!io-
" action, and that the men will be re-
leased Thursday.
The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-30
Crescent City Races.
iEy Associated Prsss

NEW ORLEANS. Jan 2s-sarina and
Sir FNtzhush were the winning faporites
Summaries:
First raoe-seliing, one mile and a six
tecnth-Sarilla G to . first. Locust Bios
som Is TO - second, Domadge g to y
third. Time. 1:40.
Second race-onc mile-Pleade Is to u
first. Picador & to u second, Semper G TO
81 third. Time. J:42ia.
Third race-handicap. one mile and a
quarter: five Enthusiastically g to j.
drst. Free Advice G TO u second. Miss
Ransom g to y third Time, 2:2l
Fourth race-handicap. one mile an.
severity y's1,ds-Sir Ifiorian a to u first,
General Mart Gary leven second, Iiood. S
Brigade t6 to y third. Time las.
Fifth race-selling. two miles-sir 1stz-
hugh e to 81 first, Lancewood Us 20 u
second. Bert Davis 6 to u third Tine,
Sixth race-seiling, one m;ie-Joakcy
The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-30
THE HOWITZERS MEET.
Battery Will Go to Washington to the
Inaugural ion.

Battery Will Go to Washington 10 INC
InnuSuratiun.
The annual meeting of Battery A, Rich
mond HowitZers, was held last night at
their armory, with the largest attendance
of the year. An unusual amount or en-
thusiasm was manifested by the members.
A delightful repast was served by a prom
inent caterer of this city.
A letter was received from Mr.. G 5.
Cardoza a veteran OF the Third Com
pany of Howitzers, describing shell
found while walking over the battlefield
of AppomattoN on February 18th, when
will be presented to the Howitzers TO
adorn their handsome library. 1t seems
strange that this shell should remain in
that historic spot TO be found on the
birthday of the greatest general the world
has ever known nearly th1rty-SlX years
after the surrender.
ON motion of Private Walsh, a commit
tee was appointed to make arrangements
for the trip to Washington March 4th. 1t
is almost certain that the new head-dreSs
will be ready by that time, and the jolly
cannoneers will make a good Impression
in the capital city, where the Confederate
gray uniform is always received with APP
plauSe. The boys are hard at work drill
ing, and when they reach the capital city
they will make demonstration that will
be a source of pride to VlrglnianS, and
particularly Richmonders.
The following elections We're made tor
the ensuing year: Lieutenant Minson, sec
rotary; Corporal HrockenprouSh, trtaS-
urer.
The standing committees for the cnsu
ing term We're:
Amusement Committee--Lieut. Myers.
chairman: Corporal Brockenbroush. Pr
Yates Chester A. Walsh and James c.
Pollard.
Auditing Committee-sergeant Cooker,
]. T. Post and G. II. Garrett.
Armory ommittee--Lieutenant Minson,
Corporal Carter, Privates Burfoot, Hines
and Logon
Library Committee-First Sergeant Tay-
lor. Sergeant Eppes. Privates Peoples,
Timberlake and H. w. Mountcastle.
Lieut.. H G. Whittet was unanimously
elected an honorary member
The battery has been ordered 70 report
at the armory In fatigue uniform on:
Tuesday night, February 18th: to eject a
second lieutenant to succeed H. G.. Whit
tet retired and to fill any position made
vacant by the election It Is desired that
The regular full-dress inspection will
take place on next Tuesday night. after
which dancing will be indulged in by the
members and their lady friends. he pub
lie will be admitted to the gallery to Wit
The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-30
THE KING IN LONDON.
His Majesty Was Vociferously Cheered
on His arrival.
(By Associated Fress.)

(Rv Associated Press.)
LONDON, Jan. 29.-king Edward anu
the Duke of Cambridge arrived in LONDON
at ? o'clock this afternoon. A large
crowd welcomed the King at Victoria sta
tion. His train was preceded by piio1
engine. His Majesty was voc1erousiy
cheered on his way to Marlborough
House.
The Privy Council has ordered the
Archbishop of Canterbury to prepare d
special form of service, in commenio .it,,
,ion of the Queen. to be used in all
churches in tie kingdom Saturday
The Duke and Duchess of Austa VIII
arrive here January u.