Omaha daily bee., 1902-02-16
MEASURED IN GERMANY
PrsIpssts Of the Bill Are Steadily Growing
Mere Dismal.
GIGANTIC swIsDLt THOROUGHLY EXPOSED
Trial OF Omcers whose Company
Never Earned an Honest Diyi-
dend-Herr schmidt's Fas-
cinating Trap.

BERLIN, Feb. 15.-The prospects OF the
tariff bill grow more dismal. The majority
OF the committee continues to vote amend
ments, against the warning OF the govern
ment. An amendment providing for the
adjustment Of the municipal 0ctroi duties,
still in vogue in some towns, received an
overwhelming majority Of votes after the
imperial secretary of state for the interior,
Count Posadowski-W ehner, had announced
that 1t was contrary to the constitution n
that constitutional revision was necessary
before the abolition OF those duties could
be effected. The amendment adopted yester-
day fixing January l, 1905, for definitely
putting the new tariff law in force is a step
Of the agrariahs and Is intensely embar-
RAISING for the government, since 1t is not
certain when the treaty negotiations can be
concluded, and the amendment is plainly
designated 10 compel the government to in
vite tariff wars. through denunciation Of the
present treaties before new ones are con-
cluded.
Anti-AmerIcan Animus.
The agrarians in discussing the amend
ment showed their usual anti American
animus. Count Won Kanitz, the agrarian
leader, again argued that the United States
could not AFFORD a tariff war with Ger
many saying 1t would be downright sui
cide," owing to the heavy excess of Amer
lean exports to Germany. The Vossische
zeitung answers this assertion by showing
that the immense German imports of raw
materials from the United States are neces,
sary-cotton, 2bS. 900. 900 marks; corn, 104.-
900, 900 marks; copper. 1O1, 900, OOe marks:
lard, $4,000, 900 marks; petroleum, 6S,000, 900
marks, etc.
Trial of svvindIe'a omcePa.
The trial Of the ofhcers Of the Treber-
Tfocknund company OF Cassel, caused a
great sensation. The newspapers filled
man. olumns with details Of the trial
which brought out the history of the com
pany's meteoric career, showing 1t to have
been a gigantic swindle from the begin
ming, though Director Schmidt succeeded
In deceiving the board Of oveFseers until
the crash came. They trusted him COM
pletely, while distributing 80 per cent
dividends from fictitious stocks, hoodwink-
Ing the Leipziger bank and his own over
seers and making immense advances.
Never an Honest Dividend.
The evidence indicated tina the company
never earned an honest dividend and that
1t was q humbug throughout, even when
its shares were manipulated up TO 1900.
The concern was founded In 1889 with a
capital of $500 0 marks for utilizing the
waste products OF breweries. Later 1t pur-
chased q patent wood distilling method
which proved worthless, nevertheless, Herr
Schmidt captured the confidence Of the
public, and was able to raise the company's
capital to 10000, 900 marks. In a dozen
parts he established branch wood distil-
leries In all the leading continental coun-
tries. not one OF which had paid expenses.
Yet Herr sshmidt succeeded in launching
rose colored reports Of the company's BUSH
ness. The ovsrseers confessed that they
were so Fascinated by Herr Schmidt that
they trusted him without any examination
Of the affairs OF the company.