New-York tribune., 1902-08-10
TOPICS IN PENNSYLVANIA.
REPURLICANS FIGHTING ESPECIALLY
TO SAVE SENATOR PEN
ROSES SEAT.


Philadelphia. Aug . tspeciaD.-Although the pub
lie campaign work in the coming election for Gov
ernor Will not begin for two weeks. 'enator quay
who proposes 10 manage the Republican end
has taken up his home at Atlantic city
where he is in almo~r dally cohS1'1a1-ou
with his Philadelphia Heutenants me Prlh-
cipaI question demanding attention no" IS the
contest for members Of the legislature upon Whlen
the election Of Senator Penrose successor hlHseS
II is accepted by the Republican leaders 1hal
Colonel Guffey earnest in his desire LOT seat
in the United States Senate, and they ant1cipate
that the brass hand will be used IN the campaign
on the state ticket while all other energies OF
the organiza ton outside OF PhIladeIphl9 anu al
the financial contributions gathered from oIher
sources than the immediate friends of Ex-Governor
Pattison will be used the doubtful and close
legislative districts up the Sta.e- The PhladeIpha
Democracy has hope of winning any AsseliiOiy
men in this city, and in order TO renaoiiuale I1s
with the State Democracy viii devote it's atrenCon
TO polling an unusually large vote for Nj Fatli-
,.
Senator Quay is so well satisfied with the siLu@-
ton in respect to the GOvernorsnlp tnal ne Hds
planned his campaign the same nnes as na'
Colonel Guffey The latest news from FIIISDu1o'
that the Citizens party which is making nsh-
for it's own county ticket has ndorSed 'uose
Pennypacker and the assurances winch nc HI
that the Union party-the refuge OF lns HecdI
cftrant RepuDlicans-wtH either lnoo[s7 =, -
packer or split itself has relieved Ine 1arr.sr OH
horse of anxiety on the score Oh Ihe
pay by day the leaders Of the Republican pa5ry
throughout the State are dropping @ LnIo sn5 ths
giiet work TO forestaI Colonel Gufeys plans -
al T5 ay ycrsnces Of candidate for Governor wers
never brighter than are Judge Pen1yEP & yEP46eTe Of
Mr. Pattis0n's supposed friends. when was a. -
pointed in pursuance ci naTrnoLy ',arnsd
have already declined 70 serve ana I51,es, 9taeTs a
outspoken IN their support u '
DTezent the question having the most public
-Hoi9a of
.aszC- or -ha bench Three genIlemen--NOrrlS L.
Barrett Reuben O. Noon and Thadeus L Wander
and It is possible that the coL1lct oL L-i'L 80 nan
ov4rnor stone viii not make the appointment IN
ri the leaders and Judge PennyPaGker unite e On
o-a ~ man or un,I the contest shall nave oeeh
fought out In the convention -z-. -.
c-,tizens, parry mas indorsed the Republican stare
ticket and will have rs coC1nIy So - 70 r6fs by
reason OF the fusion nomination o. T3ss3-s
I5 S{rizens' party had acquired the right 70 nave
lot headed by the Democratic state {71C- E7r
this arrangement voter may cast hlS oal0S S % -
fusionists without scratching his ballot. and m
Whichever column he places MS marx ne votes O19
straight Citizens ticket
philadelphia Rapid Transit has come 10 be the
regular leader in the local stock market going up
during the week 151e. with $ paid IN on a par
of sa Union Traction. upon which ST 30 is paid in
is selling around 81 The big figures commanded oy
these Philadelphia street railway securities are
rrih ne
secured BY them through political manipulation
OF the $1,000 shares OF Rapid Transit stock about
450O 90 are known be held BY rhe Widener,
FIkinsNack people leaving only 10000 be traded
IN bv the pu6Iic Judged BY the New-Yor1 stand
ard OF percentaSe Rapid IranSlts 1clla q;.@Cd q55
paving railroad stocks is interesting, N vew OF
rrs11 a share is hardly expected pay any divi-
dends for some time. being OoLsed % pay ) per
to pay one tS ra5tta I. or - per cent it IS
=Tf1f iOIJDl ne q
pays an per cent dividend This hIg1 LsuTe shows
the stock is being manipulated by insiders Perhaps
both TO certain extent
a decision this week BY Judge WiItbank. in
Court of Common Pleas. If sustained viii upset
street customs in relation 10 the sale OF stock
collateral passing under bill Of sale and power OF
attorney. Frank R. Shattuck, a prominent lawyer.
counsel and customer Of the late brokerage firm
Of StahI & Straub left certain stock certificates IN
the custody of the firm Gustav StahL one of-ths
partners without the knowledge or consent OF his
partner or Mr. Shattuck, used OF these certtf-
Gates as collateral for q personal loan OF SiUO
from the Corn Exchange National Bank Default
made in the payment OF the 5000 and the
the rm became fnsoIvent through StahFs pecu-
lar hnancering. and when Mr. Shattuck looked
immediately began suit contsnding that il was
the duty Of the bank 70 inquire into the right or
Judge WiltbanE's decision upholds this contsn-
mis- class ~ security The bower OF attorney
generally in use here. in New-York and in other
cities contains absolute bill of sale and assign
rnent- II was prepared many years ago by eminent
counsel and has always mad the approval or the
best lawyers. The solicitors OF leading trust
companies and banks have accepted IL and II has
stood the test of wears In like cases II has been
decided that certificate or stock. with irrsv-
Ocable power OF attorney properly executed,
makes the certificate negotiable. Ike bond TO
bearer passed by delivery, and although stolen
cent holder for value The belief among hnancters
is that the decision will be reversed 6y the Sn-
preme Court. to which tribunal the suit viii be
appealed
President Baer OF the Reading is reported to havs
said TO personal friend that the dividend on the
first preferred Reading stock viii be declared this
thereafter TO dissolve the voting trust
The effect of the great coal strike on the Penn
svIvania Railroad coal shipments is proving any
thing but disastrous While for last week the an
thracte coal tonnage was only 92e tons as against
aS s9 tons for the week in 1901. its shipment
OF bitunlinous coal over much longer haul was
-3ITr3irr Deriod of last year The in the
shipments of coke was H-2+o tons
phaIt Trust has written counsel for William
c BuIlitt and other protesting bondhOlders that he
is ready at any time To enter suit against any OF
the promotsrs-of whom his co-receiver. John "
Mack is the principal oue-whenever the court SO
directs Al the same time. he announces tnat
whenever such order IS made. or whenever me
properties come he sold under the reorganizatlon
plan. Mr. Mack. who Will be one OF til5 ol'letS a.
the sale will voluntarily retire from the receiver
ship The removal of Mr. Mack -, eiv r Is one
OF the demands II the bondhocerS' WHO ''iie
further litigation
one Of the significant deveiopments Of the week
was the sale of $4,000 Asphalt Company per cent
bonds ar d This is the point these secur1-
ties have ever reached. and reflects the uneasy
feeling toward the whole asphalt situation In Oe-
tober of las1 wear these bonds sold for o. but La
srrffz frrfr