Western liberal. (Lordsburg, N.M.) 1887-1919, 1902-05-09
WESTERN LIBERAL.
LcRDsBURe. NAY ., 1902.


DR.. Morris wife and baby arrived
last Friday, and are now enjoying the
doctors company.
Mrs. W. A. Leonard aud 500 we're 10
town Wednesday, returning 70 Clifton
from a Silver City visit.
b. ". Randall made an Tel Paso trip
this week to consult with the direct
ors OF the Orion company.
The articles Of incorporation of the
North American mining company are
printed on the fourth page OF this
issue.
Mr.. aud Mrs. c. Overman have
been visiting with DR.. Crocker this
week. Mrs. Crocker aud Mrs. Over.
man are sisters.
Mrs. Baylor Shannon was 10 the
city Monday, en- route to Silver City
for a weeks visit with her sister, Mrs.
Arthur Goodell.
John McCabe was in from the AMI
mas the hrst Of the week to see IL
arrangements could not be made for a
rural free delivery down the AnimGs.
He and Holmes Maddox are greatly
interested in1ecurlng such a route.
It. s. Starrett has about completed
putting 10 the iAterloching switch
which will govern the crossing of the
L%ordsburg s. Hachita aud the
Southern Pacific railroads. The
switch provides signals, and il the
railroad men observe them there
never can be an accident at this cross
ing:
Mrs. j. A. Leahy and children, and
Miss Lulu McGeefn left Monday for
Kingston, Canada, to spend the sum
mel with Col. McGeen, Mrs. Beahy's
and Miss McGeein's father. They ex.
pect to do a great Zeal Of dshiug In
Lake Ontario dutiag the summer, aud
have got many other plans made to
have a good time.
D. c. Hobart aud John Burnside
passed through on the west bound
train Sunday. and told some Of their
Lordsburg friends they we're en- route
TO Hawaii. The LIBERAL received 10.
formation on the side that they had
gone to visit Mr.. Hobart's brother-in-
law, MI. Cross, the celebrated dealer
in Grant county warrants.
Last Monday was the 6fth Of May,
the day dear to every Mexican heart.
There we're a few who commenced the
celebration about two O'clock in the
morning by turning loose a few guns,
aud later in the day others followed
it up by consuming a considerable
quantity Of American whiskey, but
this was the extent Of the celebration
by the Mexican residents of Lords
burg.
Lordsburg has a G%uancler that lays
the celebrated j. Pierpont Morgan 10
the shade. 1t will be remembered
that Mr.. Morgan has made a great
deal OF money 10 the past few years by
organizing trusts. II he had had the
ability OF the Lordsburg inancier he
would Lave made a great deal more
money for his work. Mr.. MorGan's
scheme in organizing a trust was to
issue stock aud bonds which we're used
to buy up the companies which COM
posed the trust. The purchasers Of
the stock expected dividends, and
were part owners Of all the trust
owned. The purchasers OF the bonds
expected to be paid interest, and ul-
Cimately to be paid the face of the
bonds. The Lordsburg lnancier beat
this scheme all to pieces. He saw a
chance to organize = trust 10 the boot
backing business. He could get rid
of his only rival by purchasing his
stock of blacking, etc. He did not
have the necessary cash and had TO
raise the money. Did he offer stock
to the public, the purchaser Of which
would be entitled to a proportion OF
the profits OF the bo~otblacking bust
ness? Not much. He believed a
trust magnate was entitled to the
whole thing. He offered nou'trans-
ferable bonds to the public. Did be
make the bonds carry interest and
redeemSBie at maturity In cash? Not
much. He had a better scheme, and
the working of this scheme showed
bis great genius aud bis superiority tc
Mr.. Morgan as a dnancler. He made
his bonds payable 10 kind, and to 10
duce the public to take them offered
them at a discount OF sixteen and two
thirds per cent. A heavy discount,
certainly, but when the bonds were
paid the magnate owns the trust, and
no one has a claim on its PROFITS. Il
when Mr.. Morgan ioated the stee
trust he had made the bonds payable
IN steel rails, aud not transferable
or II when he organized the steam
ship trust he had offered bonds which
were COED for a ride across the Allan
tic, be would have had all these bond
redeemed, he would not have had Il