davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1902-01-03
MUST TURN BONDS INTO STOCK.
WILL ULTIMATELY GET NORTHERN
SECURITIES CERTIFICATES

Wall Street received with a feeling OF satiSfac-
ton Yesterday the formal announcement that in
the exercise OF the power conferred on It, the
Northern Pacific Railway Company retired IT'S pre-
fsrred stock in whole on Wednesday. There was
some talk concerning the legality OF the act Of
retirement because the first day OF the year a
legal holiday. II pointed out however. that
the redemption Of the stock was simply the con-
summation OF a private agreement entered into
between the dominant interests and the sharehold-
ers and that the step was taken on advice OF emf
nent counsel
AS on New Years Day, when more than $50 CO.,
600 OF the sT5Ooo.000 preferred stock was surren-
dered paid for and cancelled. the Northern Pacific
Offices presented scene OF great activity yester-
day a long line OF shareholders and messengers
from brokerage houses being hand to turn in
stock The work OF receiving this stock was car
pressed on the large clerical force that no close es
innate was made OF the amount surrendered. al
though II is believed that, including the STOCK re-
ceived and redeemed abroad. the actual retreInenS
OF nearly all the shares has been Effected
Notice has been given bv the Northern PACING
Railway Company that II has elected 20 require
and does require the holders OF the per cent
convertible certificates TO convert them into com
payable on such certificates from and a1ter Jan
nary ! 1t Is understood that the exchange OF Lne
cOnvertfble bonds for the new common stock OF
the company is alrssdy wen advanced. ana lnal
irtuaIiv an OF the Sl55 10000 common stock or the
>ou1panv will very be exchanged Ior sIocA OF
the Northern Securities Company. Northern Sc
cUrities shares were strong on the elrD yeslsE-
dav and the Union Pacific and Great Nortnern IS
s5es made substantial net gains on the announce-
rnent of the carving into effect or the pan Tot
retirement Of the Northern Pacnc preferred StoCA
New-York tribune., 1902-01-03
SPAIN COLLECTING DUTIES IN GOLD.
ACTION TAKEN TO REDUCE THE HIGH RATE
OF EXCHANGE


Washington, Jan. with a view to reducing
the high premium gold and foreign currences
Spain has enacted law. which went into operation
December l. whereby the customs duties on
Consul General Lay at Barcelona. in a report 70
the State Department, says that of the
OF the high rate OF exchange in Spain, apart from
the unfavorable financial situation, undoubtedly
has been the necessity the part of the govern
ment periodically to obtain gold drafts to meet
its liabilities in foreign markets. IL is asserted for
the new scheme that II will enable the treasury
to secure gold foreign drafts from the
chants instead OF being obliged, hitherto. to
apply directly 10 the bankers, who able TO
control the Of exchange a considerable ex-
said will not be required for all customs dues;
only certain articles of commerce having been
lecred, which, being imported in large quantities,
of the government being TO obtain through the
customs much gold as is required TO cover the
foreign coupons.
In the list of goods on which duty Is to be paid
eraI oils, wheat, cocoa, conee tea ana spices For
the payment of duties the gold coins of all nations
forming the Latin Union, notes of the Bank Of
France, bills or checks on Paris, London, Brussels
or Berlin Will De accepted In order that the pay
ment of the duties in gold snail entail in
crease in the tariff. scale Of rebate has been
fixed. Should the rate of exchange, however, fail
below 10 per cent premium, rebate in the duty
will be conceded. The government at the END Of
each monlh IN accoroance with the official quota
tionS of the Madrid Bourse for checks on Paris
IN that time, will nix the rate of exchange
for the ensuing month.
New-York tribune., 1902-01-03
STEEL TRUST AND COAL.
PROVISION FOR THE UNITED STATES COR
PoRAT1oNs NEEDS IN THE TRANS
FER OF THE PoCAHoNTAs

SYNDICATE

Ex-Judge E. H. Gary. chairman Of the board OF
the United States Steel Corporation. yesterday
made the following statement relative TO the
operations of the Pocahontas Coal Syndicate. show
ing that provfsion has been made for the needs
Of the United States Steel Corporation in the trans
fer of the syndicate's coal properties 10 the Nor
folk and Western Railway Company;
The properties heretofore secured by the
ing of about 100000 acres of the very best fuel and
coking coal which has ever been discovered, and
Railway Company. have been sold and conveyed 10
the Pocahontas Coal and Coke Company, whose
capital stock Is owned controlled by the said
railway company, and 5000 acres OF these lands
have been leased On r0yay pass; ,1 70 pa &
United States Steel Corporation. There WILL within
the comparatively near future. be constructed at
capacity of at least 100000 tons OF coke together
tric plants. power plants. residences. stores and
other improvements and work will be begun at
1t is expected the consummation of these trans
actions will result in great benefit to the Norfolk
and Western Railway Company and TO the inter
ests OF the United States Steel Corporation. Al
excess. per acre OF the purchase price with in
terest; so that the business of the coal company
for transporting the coke 20 be produced as well
a very large and steady and increasing income to
The companies controlled by the United States
Steel Corporation have by this lease secured. at
low royalty charge sufficient coal OF the best
Sass of f about & Sn years ng S.
with the Connesvile coal now owned. will, on the
basis. furnish the necessary supply or coke
for upward of sixty years; and 1t corresponds
ES MfS n the Sn ore % soo9 gS is very
practically smokeless. and the demand for this
growing and at present greatly exceeds the supply
1t is learned from authoritative sources that
payment for the ne Pr9@PsTtss @ sod by the syndicate
Is TO be rnade ny Joint issue by the Norfolk and
Coal and Coke cownany Of s2o.oco.ooo per cent
bonds guaranteed by the Pennsylvania Railroad
New-York tribune., 1902-01-03
CROKER GOES TO LAKEWOOD.
TAKES GOLF CLUBS WITH HIM AND
WILL STAY UNTIL MONDAY.

r,,a,ooa y l. Ian. (SpeciaD.-Richard Croker
e a guest of the Lakewood Hotel, having come
down. as he says. for rest He arrived Iate tnlS
afternoon, accompanied only by Andre" a.,
who placed orders at the desk that the rae. 0i MI
c,roker's arrival should not be made puohc- M
CSIo 5o,,,,sa +o talk and save for long con-
ference with Judge Henry A Gildersleeve and Judge
George c. Barrett. has seen no one Inc Gon.ef
ences were about the Belmont decision oy Sussise
So 80 none of the uarties would say more than
So Sir T1ToIer was expected yesterday, ana same
in unannounced to-day. His advent was IN
contrast with that of four years ago, "Heh He D'A
this place his working headquarters. - -
Iudpe Morgan J. O'Brien is expected to-uloIIOW-
Perry Belmont who has also made this place ms
home for several days. is expected to-nor[ew , 70
Join Mrs. Belmont at the Lakewood NJ; Saohs. g
brought down a bag of golf clubs ana hhtenoS 10
remain until Monday.
New-York tribune., 1902-01-03
GRUBER'S PLEA FOR LESSLER
POKES FUN AT BELMONT BEFORE A
STATEN ISLAND MEETING.

Over I'VE hundred Republicans and independents
assembled at Pavilion Hotel. at New-Brighton
Staten Island, last night to cheer Montague Less
er Republican candidate for Congress in the With
District. John s. Davenport presided After call
Ing the meeting TO order Mr.. Davenport made a
short speech in which he criticised Nicholas Null
ler whom he described having selected a can
didate whom even Dick Croker couldn't stand
for"
It's Nicholas Muller again to be fred at
said Mr.. Davenport.
Abe Gruber was the next speaker He said in
part:
There used TO be song in the old days in Tam
IDENTIFY that was for services rendered but now for
gotten, To-day @ they are singing Ned" Harrigan's s
for me-
When .old Nick'' went about seeking for suita-
be candidate. he had no use for an honest re-
spectacle Democrat like OGrady. In SELECTING
p0n p6f 81 type of
Are you g%9ing % to put crown Of glory on
Did he ever even come fishing in Staten Island. as
I have done, and catch nothing but a bad cold !?
manifestation Of his love for the people? He has
daon th eaEe to so% Ne ms afs evs
RR:y hw 8sut sSHsy the % % ng +
washboier is fuii Of holes and you want iSHp new
DAN Finn for It, and Perry win pay the bill
a We G tb r nave elected ed Mayor n low and
SO many Republicans in office. II the independent
e1 @ had s Ht . 0sd t6o Ss in r61 the g and they
that Belmont is not elected to Congress.
Montague Leslie followed Mr.. Gruber. He got
an enthusiastic reception. and said. in part:
1t should be an incentive every young man. If
antee for the future Of the sons of older men. all
for any man opposed TO me- look at mvseiS ns
nothing personally in this tight. but hold that an
aaa Whatever be the 'ps psry GI true
80 far as I enbody the idea that men who attain
New-York tribune., 1902-01-03
FALLS AND RIDES ON PILOT
FREIGHT TRAIN HITS ASHCART-wHIrr
RAILROAD MEN LOOK FOR DRIVERS
BODY HE RIDES ON CowCATcHER

An ashcart belonging to the Department .,
Street Cleaning. driven by Louis Maltenho
thirty-three years old. of No. 346 East Oue-hu,
dred-and-tenth-st., was struck by southbound
New-York Central freight train at Ons-b,,
dred-and-twenty-fourth and the North P,vs-
last evening The train continued on it's wav :,
being dark and the engineer not knowing vrb.+
had happened. At the moment of the collision
Maltembo was thrown into the air. He Iansas
on the pilot. or cowcatcher. Of the locomotive
his clothing caught in one Of the flag stanchions
and there he stuck. When he was discoveries
at Sixty-ffth-st., in front of the train dispatch
ers office. where the train stopped. he was un-
conscious
Maltembo's cart was smashed TO bits bur tAa
horse was uninjured and found standing a sbort
distance from the place Of collision. The doc-
tors at Roosevelt Hospital said that MaItembo's
injuries probably were not more serious than
scalp wound and contusions
Immediately after the accident a dozen ar
more of the railroad employees began a search
with lanterns for Maitembo's body. or az least
the fragments of it, for they believed that he
had been killed. and probably ground under the
wheels Of the cars Finding the mans hat
about fifteen feet from the tracks tended n
confirm their fears. After the unfruitful search
they informed Policeman Maxner, of the West
ne-hundred-and-t -twenty-ffth-s station who.
reported the accident to Sergeant Crowley OF
that station The result was that the first
slip of the accident that went TO Police Head
quarters said that the driver OF the cart was
missing. The sergeants next move was TO tele-
phone TO the West Sixty-eighth-st. station, tell
ing ali that was known. Policeman Aldcroft
sent TO the railroad yards and found NAL
ternbo being cared for by railroad men, an
ambulance was called and Dr. Russell took the
injured nan to Roosevelt Hospital That the
patient was not regarded as in a dangerous con-
dition is evidenced by the fact that he was
placed in the recovery room. The only danger
Is that he may have received internal injuries
Maltembo's clothing was in shreds, and he
had numerous black and blue spots on his body
he carried ffty-nine blocks on the pilot OF
the locomotive. Whether he was conscious any
OF the time could not be learned last night as
the hospital officials would not allow him TO De
seen
The absence OF Maltembo or his body from
the scene Of the accident was source OF much
mystery for a time TO the railroad men and to
the police. They thought OF everything but Of
the possibility Of his being caught on the engine
and staying there. The proposition was even
advanced that he had been thrown into the
North River distance OF a hundred feet or
more.
New-York tribune., 1902-01-03
THE RECIPROCITY TREATIES.
SENATOR CULLoM DOUBTFUL AS TO AC-
TIoN AT THIS SESSION OF CONGRESS.
rBY TELEGRAPH TO 1HE rRrguyy !

LbE Akl1ShAfA To 1hE IhlBUSE.I
Washington Jan. 2-Senator Cullon. the
chairman Of the Committee on Foreign Rela-
lions. had this to say to-day about the prospect
Of action at this session on the reciprocity
treaties pending:
I hope 70 get the attention of the committee
20 the reciprocity treaties as soon as Congress
reassembles What the policy of the commit
tee Will be with reference to these treaties am
unable to say. l have not yet had an oppor-
tunity Of talking with any member on the SUBJ
not for some time before; but 1t occurs to me
that II will be my duty to try TO ascertain at
once what II viii be advisable to do with these
treaties and TO do It, either to their rati-
ecation or TO dispose Of them in some other way.
These treaties are in line with the suggestions
OF President Mckinley just before his death.
While we are doing our best to make CONNER
cial progress, want to recognize that other
people have the same right as ourselves TO do
the best they can. Only a short time before
President Mckinley left Canton to go first to
Cleveland and then 10 Buffalo, visited him and
talked with him on this very question. Asking
whether he thought we ought TO revise the tariff
In the usual way or carry out some kind of
reciprocity or commercial treaty system. he said
BY all means we ought not to revise the tariff
this year, but we ought to adopt the other plan
as far could do so consistently.
There is nothing else Of great Importance be-
fore the Foreign Relations Committee. but there
are good many minor questions. The proposed
treaty with Denmark by which we will be pIaced
II the position of endeavoring to acquire the
Danish West Indies Is a matter OF considerable
Importance. and I hope to see it successful I
these islands viii be their purchase by us /
hope the Senate Will ratify treaty looking to
our ownership OF these islands. At the same
time there seems 10 be an uncertainty now as
10 the outcome Of the negotiations now being
eerried on.
Asked whether he favored the general idea of
reciprocity. Senator Cullom replied:
] have thought for a year or two that II we
DO not take up the tariff for the purpose of a
revision in the regular way. We ought TO do
something In the way Of securing commercial
treaties looking 70 a modification OF the tariff
( In particular cases. / in favor Of general
reciprocity in such way not to interfere
with the general principle OF protection. I think
II would be a great misfortune 70 the country
TOR US to take Up the tariff for general revision
this year. II would startle our business inter
ests, and manufacturers would hesitate to &c
forward with their work in view OF the uncer-
tatnty that would exist, and would find our
selves involved in trouble. But we can accom-
plish desirable ends by means of reciprocity and
commercial treaties without seriously disturb
ting the business interests of the country.
New-York tribune., 1902-01-03
THE TREASURY'S CONDITION..
SURPLUS FOR DECEMBER ss.742s66. AND FOR
SIX MONTHS ABOUT ss.ooOOoo.

SIX MONTHS ABOUT S1S.g0O00.
Washington, Jan. 1.-The monthly statement OF
government receipts and expenditures shows that
for December 1901, the total recepts 81, ,0S1
s64. which is increase as COMPARED with De-
cenber 1900 s215. .456 The expenditures amounted
to s3731s.s9s which leaves surplus for the month
of e56 The expenditures were nearly SS0OoO0O
less than for December 1900. The surplus for the
first six months OF the present fiscal year is ap-
proximately S1SO00000. The receipts from customs
in the last month amounted to 1039S27 against
s,4ss654 for the corresponding month last year
from internal 2S19455. against S2526oes3
for December 1900. and from miscellaneous sources
s2.S27561, as against S30S9179 for December. 1900
The expenditures charged to the War Department
last month show decrease of g 100000 and IN the
amount charged the navy increase of $4,000
is shown. An increase of $4,000 is shown in the
amount OF pensions paid.
The monthly statement Of the public debt issued
to-day shows that at the close OF business Decem-
Der 81 the debt, less cash the Treasury amounted
to S0l6 266 decrease for the month OF $S643 1872
A comparative statement OF the receipts from the
war revenue act OF June 13. 1893 and the war
revenue reduction act of March 2. 1901 shows that
the former act produced between july i 1900 and
November 80, 1900, S46 629 sos The reduction
act OF the latter date produced in the corresponding
period III 1901 S29 4296 642 decrease of Sl7l99666.
Ine monthly statement OF the Director OF the
Mint shows the coinage executed at the mints in
The monthly circulation statement of the Con-
tToIIer OF the Currency shows that at the close Of
5000 2s9, 126 increase compared with December
81 1870 OF $50 1851 and an increase for the month
bonds amounted to S32500 3O6 an Increase for the
year 81 S6+,l4682. and decrease for the month Of
AMOUNTED TO S35 42O an increase for the year Of
+ aS0Sg. ana an increase for the month OF ST. S95
deposit TO secure circulating notes was sS26
ana 10 secure public deposits $ll0S44650.
New-York tribune., 1902-01-03
MINISTER WU'S STATUS.
SOME DOUBT IN WASHINGTON AS TO
WHETHER HE IS EXERCISING HIS
FULL FUNCTIONS.
LBv TELEGRAPH TO THE TRIBUNE l

tBv TELEGRAPH THE TRIBUSE1
washington, Jan. 2.-Nothing is known in Wash
ington of the report in New-York that Minister
Wu-T1ng-fang has received official information
from Peking Of the wish of the Chinese Imperial
Government for him to continue FOR another term
at his post here. In fact, it is not known that Chi
nese ministers plenipotentiary commissioned
LOT nxed term. Ali that is known about Mr. Wu's
status is that soon after the death Of Ii Hung
Chang press report from Pekng said that it had
been determined there to recall Minister WI. Mr.
WI consistently denies all knowledge OF the pur-
pose OF his government either withdraw him from
this country or to assign him to another post the
diplomatic service. While 1t is known in Wash
ngton that he owed his rise IN Chinese affairs to
the favor OF Ii Hung Chang 1t is not known here
oenntely what effect the death Of Earl Ii has had
or Will eventually have upon Wu's standing the
court court OF PekiHg Mr. WI continues to occupy the
Chinese Legation. though whether he is exercising
the fun functions of Chinese Minister which he did
before the death Of his friend and mentor, Ii Hung
Chang, seems to be somewhat involved in doubt
He is notably more chary Of newspaper CORE
spondents than formerly and since returning from
his last trip to the West he has refused to rep
resentauves OF the press.
New-York tribune., 1902-01-03
WIRELESS TELEGR4PHY DISCUSSED.

Wireless telegraphy was the subject of a meeting
OF the Polytechnic Association. branch OF the
American Institute. at No 70 West Forty-tourth-
St. last night. C. Sidney Aylmer-Smau of the in
stitute. experimenter in this field introduced
the subject which was also discussed by Albert
Stetson and others
II was the opinion of Professor Small that wire
less telegraphy would never dispace telegraphy by
wire He suggested that lighthouses be equipped
with the apparatus and that It be used when fog
prevailed TO warn vessels The name OF the light
houses could be spelled out during fog TO be re-
eeived by vessels entering within the circle OF the
motion set up by il. Most of the discussion
was regarding the nature OF the Hertzian waves.
New-York tribune., 1902-01-03
COLLECTOR MUM RESIGNS.

Washington. Jan. 2.-David A Num- whose resig-
nation as Collector Of Internal Revenue Of the
Fifth Tennessee District called for by the
President few days ago. to-day handed his resig-
nation TO the President in person. He was ac-
companied to the White House by Representative
Gibson. of Tennessee. Mr.. Num- was appointed
collector at the beginning Of the Mckinley ad-
ninistration. Soon after he was installed the re-
naoval of some Democratic employees led TO charges
OF violation of the Civil Service law. These
charges which remained dormant for several Yeas
were recently revived, and precpitated the call for
his resignauon- II is UNDERSTOOD that ex-nepre-
sentative John Mccall viii be appointed to succeed
Mr. Num- 1t also is understood that the reap
yointment Of POSTMASTER w. A. wills. Of Nashville
has been decided upon.
New-York tribune., 1902-01-03
ALAsKA's GOLD PRODUCTION.
A CONSIDERABLE DECREASE REPORTED AT THE
TREASURY DEPARTMENT.
~ rELEaRAPH ro - rRIRUNE. J

Washington, Jan. AIT the Treasury Depart
ment, where tabuated statement will be issued
tomorrow. showing the production OF gold in
America, it is estimated that the output from
Alaska and the Klondike viii be 100000 and
81 100000 less respectively. this year than that pro-
duced for the calendar year 1900 These figures are
disappointing TO officials who observed the state
ment made by Canadian authorities TO the effect
that the output this year would show a substantial
Increase AS there are mints in Canada all
gold from the KlCndke comes TO this country COR
exchange. Ofhcials are not able TO account Tor
this decrease Of the gold production in this region
II may be due TO discrepancy in the reckon
ings Of expectation they say. In the various gold
States the indications not so dtScouragtng. on
the contrary. in Colorado and one two other
gold producing States increases arc reported. and
in others little change has been noticeable.
New-York tribune., 1902-01-03
LIBERIA WANTS TO BUY A GUNBoAT.
THE SALE MAY BE MADE UNDER AN OLD LAW
PASSED BY CONGRESS.


Washington, Jan. 2.-W. p. Matchett. Of this city,
representing the government Of Liberia. to-day
made formal request OF Secretary Long that the
action Of Congress. embodied in the law OF
April IT, 1866 providing for the relief Of Liberia, be
carried into effect. That act, which was intro
duced in Congress by Senator Sumner and Repre-
sentative Banks, of Massachusetts,, provides that
there shall be transferred to the government Of
Liberia one Of the gunboats of the United States
Navy acceptable TO the government OF Liberia, and
which in the opinion Of the Secretary of the Navy,
can be spared conveniently for that purpose. The
Secretary is empowered TO enter into contract with
a representative Of the Lberian Government for
the sale Of the vessel 70 Liberia at valuation TO
be fixed by the Secretary, and TO be paid in annual
instalments, not exceeding ten.
Nothing done in connection with this legis-
lation until President Cleveland came into power.
when Secretary Herbert set aside the old wooden
warship Swatara for the use OF the Liberian
Government. For various causes, however, the
order for the transfer Of the vessel never was car
ried into effect. The proposition now made by Nj
Matchett Is that the Navy DeparI ent set aside
another vessel on the sane conditions He prom
ises in the department takes favorable action,
TO produce the necessary credentials from the
Liberian Government including an official receipt
for the vessel Secretary Long requested Mr..
Matchett to put his request in writing, when the
matter will receive due consideration.