davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1902-06-22

wish to attempt to sell the bonds to investors in small lots. Arrange ments are made with a banking house with influential connections and wide acquaintance among in- vestors to purchase the entire block at, say 95. The banking house contracts to purchase the bonds in three months from date at that rate. The bankers believe that they can sell the bonds to investors at par, but the fact is also recognized that conditions may arise in the financial world that may cause only a small DOT tion of the bonds to be subscribed for. In that case the bankers who agreed to purchase the bonds at 95 would have to carry out their contract and take all the bonds themselves which they had not been able to sell in the meantime to investors.
 Their resources might not be equal to the task, or they might not be willing to tie up such a large amount of money in these bonds. To obviate such a possibil-
The Birmingham age-herald., 1902-06-22

cause the affair was supposed to look like an exchange solely. How ever, little later. $76,000,000 of cash loomed up on the horizon of the Securities Company, and neith- CT J. P. Morgan or J. J. Hill could explain to the satisfaction of the public where it came from. If the profit of underwriting this corpora tion was only per cent, but 1t was no doubt more, the syndicate still cleared about $25,000,000.
 A rather rich morsel for the syn dicate will be the new steamship combine. The capital of this Is only second to the steel corpora tion. It is said the corporation controlling the ocean traffic will be capitalized at $500 ,000, ,000 to $1,- 0,000,000. Of this amount $450,- 000,000 is to be in bonds. The syn dicate will be formed by J. P. Nor gan, who will not only undertake to sell the bonds, but who will also provide $100,000,000 of work ing capital. According to the bonus paid previously for the work, it could be estimated that
The Birmingham age-herald., 1902-06-22

ity, an underwriting syndicate is formed; that is, an arrangement is made with various financial in- terests to individually subscribe for all the bonds at 95 which have not been subscribed for by invest ors. In other words, an under writing syndicate is simply a con- tract of insurance; 1t insures the bankers who have agreed to pur- chase the $5O,000,00O of bonds from the industrial corporation from having to take up the bonds personally. In return for this agreement on the part of the un- derwriting syndicate the bankers contract to give the underwriting syndicate a certain percentage of the profits that come from the sale of the bonds to the public at par If the entire $50,000,000 of bonds are sold to investors at par, the profit would amount to $z,500,000, which would have been earned without having put up a cent If, on the other hand, only
 $40,000,000 are sold, 1t has to sub scribe for the balance, $10,000,000
The Birmingham age-herald., 1902-06-22

English journal said. There are over 900 miles between the two American cities; can so high a rate of speed as will be necessary to accomplish the feat be main tained daily without injury to the engine, the rails, and the coaches? The opera tors will soon find that they are wasting fortunes In keeping their property in con- dition and then, loving money better than even notoriety, as most Americans do, the 'twentyhour' project will be aban- doned."
 The Idea that the new expresses are in the nature of an experiment is erroneous. It probably had its birth in the fact that in 1893 a twenty-hour train was operat- ed between Chicago and New York. known as the Worlds Fair Flyer. When the exposition clos this train was taken off. 1t had served It's purpose. however. It was put Cn with the intention of being run only through the fair year. And the operators wished to know if a twenty hour schedule was feasible. The Flyer" demonstrated that 1t was. The two new trains of the Pennsylvania and Lake Shore & Michigan Southern, to be known respectively as the Pennsylvania Spe- cial'' and the Twentieth Century Limit ed" are in no sense of the word an ex- pertinent.
 The officials of the road have figured out the cost in extra wear and tear, and
The Birmingham age-herald., 1902-06-22

at 95, receiving it's profit derived from the sale of the S40,000,000 of bonds. This is, in brief outline, what an underwriting syndicate is.
 This syndicate had it's origin with the advent of the United States Steel Corporation. The formation of this monster corpo- ration called for too much capital to bring the matter within the power of single firm. The syn dicate which undertook to under write the bonds of the Steel Cor poration was formed by J. Pier pont Morgan. The profits of this deal, which took nearly one year, amounted to $25000,000 In addi- tion to this the" syndicate agreed to furnish $50,000,000 of working capital, which brought further profit of S5,000,000, so that all In all the syndicate cleared in the short space of twelve months $30,000,000, out of which MT. Mor- gan is said to have received per sonally, $10,000,O00. This certainly does not include MT. Morgan's profit derived from the promotion
The Birmingham age-herald., 1902-06-22

Thornton Squash. If any of these local Georgie' Clues try to shoot their Pink Conversation at me, I'll toss them up into the Trees and let them hang there. I'm the Gazabe that Puts the Shot. Any one who can trim a Policeman up and chuck a Haekman up right back into his own Hack and drive off with him, doesn't ask for any sweeter Tapioca than one of these Gaffer Greens. The PlowBoy who Is muscle-bound and full of Pastry will have a Proud Chance any time that he struts across my Pathway. In my Trunks 1 have eight suits little warmer than this one and 47 pairs of passion ate Hose. I'm out here to give the Corn-Tields Touch of High Life. It's about time that your Chaws had Glimpse of the Great Out side World. Any one who gets Pussy about the Color-Combina- tions that I spring from Day to Day, will be chopped up and served for Lunch. To begin with I'm going to teach you and Moth CT to play Golf. If these Nuts come and lean over the Fence and start to get off their Colored Weekly Jokes, we'll fan the Hill side with them"
 What do they teach up at your School-besides Murder?" in- quired Father. 'I thought you wanted to be County Superintend- ent of Schools"
 I've outgrown all those two by-four Ambitions" was the Re- ply. I'm going to be on the Elev- en next Fall What more could
The Birmingham age-herald., 1902-06-22
MODERN FABL LES BY GEORGE AIDE

Wrists resembled extra Sets of Knuckles. When he walked, his ] egs gave way at the Hinge and he Interfered On his Head was a little Wideawake with a Buckle at the Side. Mother had bJ0hed his Hair and rubbed in little Goose-Grease to make it shine. The Collar that he wore was size 13 and called the Rollo Shape. It rose to a half-inch above his Neck Band. For a Cravat he had Piece of watered Silk Ribbon with Butterflies on it,
 Wilbur had his Money tied up in a Handkerchief and he carried a Paper Telescope loaded down with one Complete Change and Catalogue of the Institution show ing that the Necessary Expenses were not more than SS.40 per Week.
 As the Train pulled away from Pewee Junction, Wilbur began to Leak. The Salt Tears trickled down through the Archipelago of Freckles. He wanted to Crawfish, but Paw bought him a Box of Crackerjack and told him if he got an Education and improved his Op- portunities, some day he might be County Superintendent of Schools and get his s900 a Year just like finding it. So Wilbur spunked up and said he would try to stick it out. He got out the Catalogue and read all of the copper-riveted Rules for the Moral Guidance of Students.
 The Curriculum had him scared. He saw that in the next four Years he would have to soak up practi-
The Birmingham age-herald., 1902-06-22

ly in the Breeze. Instead of a Col lar, Wilbur was wearing a Turkish Towel. He had the Harvard Walk down pat. With both Hands in his Pockets, the one who had been pursuing Knowledge, teet- cred toward the Author of his Being and said, How are you, Governor
 Father was always a Lightning Calculator and as he stood there trying to grasp, and comprehend and mentally close in, as 1t were, on the Burlap Suit and the Coon Shirt and the sassy Pipe, some thing told him that Wilbur would have to Switch If he expected to be County Superintendent of Schools.
 Here are my Checks said Wilbur, handing over the Grasses. Have my Trunks, my Golf Clubs, my portable Punching Bag, the Suit Case and Hat-Boxes sent up to the House right away. Then drive me Home by the Outside Road because I don't want to meet all these Yaps. They annoy me-"
 You'd better git out of that Rig mighty quick if you don't want o be Joshed," said his Parent. Folks around nere won't stand for any such fool Regalia and if you walk like a frozen-toed Hen you'll get some Hot Shots, or miss my Cal kilations."
 Say, ropsy, I've been eating Raw Meat and drinking Blood at the Training Table and I'm on Edge" said Wilbur, expanding his Chest until it bulged out like a
The Birmingham age-herald., 1902-06-22

the profits from the sale of the bonds would amount to $18,000,- 900, and the amount earned by providing working capital would swell the amount to S25 5,000,000.
 These are only a few of the number of underwriting syndi- cates formed since the inception of the scheme, but it illustrates fully the enormous profits derived from this mode of financiering. It is a well known story in Wall Street that MT. Morgan always meets with success in these un- dertakings, because 1t Is said that when he finances a scheme the brokers come to him and ask how much stock they can get, while every other house has to go to bankers to find out how much they will take.
 Certainly there are industrial ventures financed by brokers that meet with anything but success. But losses as well as gains must be expected by bankers who em- bark on the troubled and danger ous waters of finance.
The Birmingham age-herald., 1902-06-22
1.-TWO GREAT Tt1UNDERBOLT TRAINS. ...

covered in eighteen hours almost as easily as in twenty, but it would not be econom- ical am pretty sure that the road does not expect to make anything on the twen- ty-hour trains; in fact, they will proba- by lose money It's question of accom- modation. The four hours saved will mean a good deal to business men and the road officials know 1t. But the pub lie should not expect too much
 Little Elem" Is one of the most cap able and popular engineers on the road. He lives at Elkhart. H. A Ziezel, super. intendent of the Lake Shore. who knows the employees of the locomotive depart ment to a man and who Is said to be fa- miliar with the smallest details in the history of each. says of him:
 Willard F. Fleming entered the ser vice of the Lake Shore company as a fireman in 1870 and was promoted to the position of engineer in 1872 During hia service of thirty years he has been con- fined to the main line on both the Vest ern division and the Air Line division. He has been in the passenger service since 1891. and was assigned the charge of the engine running the New York and Chi- cago governmental fast-mail trains be- tween Chicago and Elkhart six years ago, which position he has maintained
The Birmingham age-herald., 1902-06-22

4oe1ed to show feverish Socks of a zig-zag Pattern. The Shoes were very Bull-Doggy, and each had a wide Terrace running around it. Father held on to Truck for Sup port. Never before had he seen a genuine Case of the Inflamma- tory Rah-Rahs.
 Wilbur was smoking a dizzy lit- tie Pipe from which the Smoke curled upward, losing itself in a copious Forelock that moved gent
The Birmingham age-herald., 1902-06-22

ERHAPS the largest 1O) amounts of money earn ed today, without the ac- - tual investment of one cent, are put into the coffers of the underwriting syndicates of financial enterprises. Millions are made in the comparatively short time of four or five months, and the story and workings of this modern institution read like fairy tales.
 The subject Is especially timely on account of the present forma- tion of gigantic amalgamations of capital. But before we go any further let us see what an under writing syndicate actually is. The formation, standing and powers of an underwriting syndicate may probably be best understood by an illustration. Suppose an indus trial corporation wishes to raise money to improve it's plants and decides to issue $50,000,000 of bonds. Usually the company has not the facilities and does not
The Birmingham age-herald., 1902-06-22

The Modern Fable of What the College Incuba> SS SC tor Did for One Modest Lambkin. SE SC
The Birmingham age-herald., 1902-06-22

NE Autumn Afternoon a 1" gray-haired Agriculturist U U took his youngest Olive 0 Branch by the Hand and led him away to Varsity. Wilbur was Is and an Onion. He had out grown his last years Tunic and his Smalls were hardly on speak ing terms with his Uppers. He had large warty Hands which floated idly at his sides, and his
The Birmingham age-herald., 1902-06-22

sI Copyright 1902 by Robert Howard Russell >C
The Birmingham age-herald., 1902-06-22

(ccntinusd on Tenth Papel.
Waterbury Democrat., 1902-01-24
TIMELY TOPICS.

Yes, the sale of women's $2.5O and $3 shoes is still on. J. G. Jackie < Sons, 1875 Bank street.
 Jones, Morgan & Go are selling boys cheviot suits, double breasted, for $1.50, were $2 and $2.5O.
 Two specials in the cloak depart ment at Reid x Hughes's tomorrow. Raglans $o.95; reefers $2.69.
 Turkeys, fowls, chickens, native veal and everything in meats at lowest prices at Public market.
 For tonight and Saturday Castle will have the lowest prices on meats. Fresh shoulders Sc.
 Coats will be sold at half price to- morrow at Miller & Peck's. There will be a sale of ladies sample hose.
 Hamilton will have some very fine chickens and turkeys for tomorrow at low prices.
 Did you see those $3.5O shoes in Dodge's window marked $299. There are no old styles among them.
 Conlon Bros stock is moving fast. Get there before the suits and cloaks are picked over.
 A Alh0oOAlC 4lAC Ol COOhlLg TIuHHS on exhibition at Barlow Bros. Plumb ing and heating by first-class men.
 Special prices on lamb at the Man. moth market tomorrow. Prices be- gin at 4c for forequarters.
 Frank Wenzel < Co have put prices on the Gillmor stock that ought to sell it out quickly.
 Read the prices on ladies' kersey coats in Currans ad. Goods are not likely to be as cheap again.
Waterbury Democrat., 1902-01-24
EXPENSES FOR IMPROVEMENTS.
Abutting Property Owners Sometimes Unable to Bear the Outlay.

ADuttlng Property Owners Sometimes :! Unable to Bear the Outlay.
 Some of the people in the suburban districts who are making big bid for grades and layouts of streets appear to forget that before any permanent. changes are made abutting their prem ises that the matter will have to be referred to the bureau of assessment for an award of benefits and damages and after they see the figures they may come to the conclusion that for the present at least, things as they are would suit them better than the improvements with the additional cost. A few hundred dollars may not appear a very large amount of money, but it looks like a mountain in the eyes of man who is pinched to make ends meet without making provision to pay it out for improvements which may be desirable, but probably not al- together essential. One or two per- sons in a neighborhood may be able to bear the outlay and naturally these do all the pushing and in many in- StanceS the others don't know where they are at until they find themselves confronted with a bill of expenses that they had no idea would come with the Improvements Of course such improvements as the city makes en- hances the property, but the trouble is that in too many cases the expense runs up so high that people who were in a position to get along before the changes were made find that they re- ceived more than they had bargained for and have to get out and make way for men of more means. Property owners in the rural districts should consider these matters before asking for public Improvements, for it is a mistake to think that the city bears all the cost. It makes no difference who is back of q petition for the lay out and grades of a street in Water bury, two-thirds of the estimated ex- pense of the work must be borne by the abutting property owners A man may have influence enough to secure favorable action on a petition, but there is no one can save the abutting property owners from paying such ben efits as the bureau of assessment may assess against them. If some of the petitions now before the city govern lnent should be granted, the cost of doing the work will be enormous and it is question if all the parties whose names are signed to the peti- lions are aware that they will have to come down handsomely in case the work is ordered done. Every man who signs a petition should give this part of it little thought and then no one will be surprised when he receives bill for his share of the cost.
Waterbury Democrat., 1902-01-24
SMALLPOX vANFUL .AsTRAY.
Drunken Driver and Four Stricken
 Children Found Stranded in Street

Drunken Driver and Four Stricken
 Children Found Stranded in Street.
 New York, Jan 24.--William Shepard of 79 Hutton street, Jersey City, found a smallpox van containing four chil- dren i'll with the disease, and two mothers. at Camridge avenue and Hut ton street, at T:30 o'clock last night. Michael Kelly, the driver, was so drunk that he could not hold the reins. Shepard drove the van to the sixth precinct police station and told the ser. geant to lock tip the driver. The police wouldn't touch him.
 Health officers were notified and they hustled for a man to take the van to Snake Hill. In the meantime the mothers and their children were crying bitterly with the cold A volunteer driver was finally found and the van was started across the meadow after Kelly had been dumped in with the pa tients. The mothers were Mrs Schae- fer and Mrs Nolan of 515 John street, West Hoboken. Each had two chil- dren i'll with smallpox and had volun- teered to go to the pest house to nurse them. They left West Hoboken at 3:30 in the afternoon.
 The police think Kelly spent most of the intervening four hours in saloons It is feared that many people may have been brought in contact with the patients, and health oA4cers were try ing, last night. to trace the course taken by the drunken driver.
Waterbury Democrat., 1902-01-24
THE FIGHT IS ON.
Between J. G. Cutler and Wallace H. /; Camp for Premises Occupied.

Between J. G. Cutler and Wallace H. Camp for Premises Occupied.
 The war between J. G. Cutler and Wallace II. Camp, agent of the Platt building on East Main street mas started. The first open fight will take place on Monday morning before Jus tice Guilfoile. Suit has been entered for possession of the premises now oc- cupied by Mir Cutler, and in this suit the plaintiffs are Mir Camp, the agent, his wife, Helen P, Caroline A. Platt and the heirs to the Platt estate. MT Cutler has retained Attorney Brad street and it is said Attorney John : O'Neill also. It is therefore evident that he means to fight. Mir Cutler s defense is based on his lease. The : main provision of this document eX- pired on the first of this month, but 1t was at MT Cutters pleasure to con tinue in possession of the premises if he cared to do so, the lease providing that upon the expiration of his specific term of occupation, December 31, 190l, Mir Cutler had the option of remaining in possession for another two years. and at the close of that term he could remain for three years more. Further than this the lease does not specify. There Is nothing specific or even gen eral in the lease to the effect that Mir Camp or whatever the agent may hap pen to be, could have anything to say in the matter, upon the presumtion, it is supposed, that the agent was satis- fled with Mir Cutler as tenant and would continue to be so under the then existing conditions But it is specific in stating that possession shall remain in MT Cutler if he so desires The trial before Justice Guilfoile, if it does take place. will merely be preliminary. It may go by default to the superior court, or it may be taken directly to the civil side of the city court, and un- questionably an appeal will be takel. from that decision to the superior court, no matter which side wins. The case will be watched with the greatest interest by all business people, par ticularly storekeepers.
Waterbury Democrat., 1902-01-24
INDUSTRY FOR s1MoSsv1LLE.
Eawmill Will Be Located on Hayes

Eawmill Will Be Located on Hayes
 Property at Pear Lakes.
 Simonsville is to have another indus try. It will be sawmill and will be located on the property of Thomas II. Hayes at Pearl Lakes. MT Hayes will own and operate the plant. The machinery is now being set up and in short time the people can get wood sawed into all sizes and shapes there at small expense. It will be equipped with a new engine and other appli- ances of the latest and most improved design and will be one of the best plants of the kind in this section of the country. The need of such mill has been felt in that district for some lime past and farmers and others look upon it as a great public benefit. Most of the sawmills of Waterbury have gone to decay largely because the own CTS did not care to go the expense of implying modern methods and in con sequeece the business has become al most a lost art in Waterbury. It's revival is regarded as heaithful sign of the times.
Waterbury Democrat., 1902-01-24
ENMANSHIp! PROF HoLLtY

Teaches every pupil to write a fine rapid. business hand, in course of 10 private les-ons and no failures. All kinds of pen work executed In tho higneSs degree of art
 167 BANK STREET.
Waterbury Democrat., 1902-01-24
Danrer From FIooa over

LANCASTER, Pa, Jan. 24.-Danger of any serious results from the gorged condition of the Susquehanna is thought to have passed, the water hay ing begun to fall. The jam at Wash ington Borough. fifteen miles south of here, where the ice is piled to height of from seventy-five to q hundred feet, is the worst ever known at that place, but when great devastation seemed most imminent the flood water found channel through the ice on the York county side and began to pass off.
Waterbury Democrat., 1902-01-24
The LARGEST and MOST COH-
 PLETE LINE of COOKING RANG ES

In the state. We have the Magee Grand; no better made and all war ranted. For medium priced call and examine our Magee Cottage We have sold nearly two carloads. We have , second hand Ranges in good repair which we will close out at q low fig ure. A few Parlor Stoves at your own price. A complete line of House Eur nishings in frst-class ware that we stand by. Hardware, Plumbing. Heat ing, Jobbing by first-class workmen. BARLOW BROS co
 Call, 417-2.
Waterbury Democrat., 1902-01-24
MiehiEan to observe MeKanley pas

Michigan to Observe Mckinley Day.
 LANSING, Mich. Jan. Ex-Governor Bliss has issued a proclamation calling upon the people of Michigan to observe Wednesday, Jan %, the anniversary of the birth of the late President Me Kinley, as a day for making contribu. tions to the Mckinley memorial fund The proclamation suggests that the day be observed by the children in the schools and that the church people take suitable action on that day.
Waterbury Democrat., 1902-01-24
Woman Found Muraeres.

WHITE PLAINS, N. T., Jan. 24.- The body of Mrs. Isabella Allen, forty four years old, of 30 College avenue, this place, has been found in a clump of bushes near her home. She had been murdered by being struck on the head with a club or stone. Her skull was battered in, and her face was dis figured. The police are searching for some clew to the assassin, but so far have not been able to locate one.