The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-16
Majority of the ReiehstRg Committee
Paying No Attention tn Gov
eminent Warnings.
CAssELs GREAT swINDLE
TRIAL OF OFFICERS OF q METEORIC
GRAIN DRYING COMPANY.
Developments of n Sensational Char
acter-Herr Schmidt Said to
Have Been Deceiyer.


tariff bill grow more dismal The majority
OF the committee continues to vote amend
rnents. against the warnings Of the gov
eminent An amendment providing for the
abolition Of the municipal octroi duties.
stin in vogue in some towns. received an
overwhelming majority of votes after the
imperial secretary Of state for the inter-
Tor. Count Won Posadowski- Wehner, had
announced that II was contrary TO the
constitution and that constitutional revi-
sion was necessary before the abolition Of
those duties could be effected.
The amendment adopted yesterday. fix
ing Jan. /, 1905, for definitely putting the
new tariff law in force. Is a step Of the
Agrarians and is intensely embarrassing
for the government since it is not GER
tain when the treaty negotiations can be
concluded and the amendment is plainly
designed 10 compel the government to in
vfte tariff wars, though denunciatfOn of
the present treaties before new ones are
concluded
The Agrarians, in discussing the amend
ment, showed their usual anti-American
anirnus. Count Won Kanirz, the Agrarian
leader, again argued that the United States
could not afford a tariff war with Ger
many, saying il would be downright sui
eide" owing to the heavy excess of Ameri-
can exports 10 Germany. The Vossische
Zeitung answers this assertion by show
ing that the immense German imports of
raw materials from the United States are
necessary-cotton. 259OOO.O0O marks corn,
1O4.000,O0o marks; copper. 1Ol.OO0,OO0 marks;
lard, 6yOON,VO marks; petroleum, 6S,OJJ,OOO
marks.
The semi-ofGicial papers assert that the
tarim committee of the Reichstag has oe-
cidsd 10 submit an amendment 70 the Gus
toms DILL raising the minimum and maxi
mum rates on wheat to and ~ marks
respectively, ana those on rye. oats and
barley 10 5l2 and marks, respectively
proposal and says the news of il leaked
out through "a breach of faith.
The trial of the officers Of the Treber-
Troeknung (grain-drying) Company, OF
Cassal. is causing a very great sensation.
The newspapers filed many columns with
details OF the trial. which brought out the
history OF the company's meteoric career
showing it to have been gigantic swindle
from the beginning, though Director
Schmidt succeeded in deceivins the Board
of Overseers until the crash came They
regarded him as a financial genius and
trusted him completely while distributing
81 per cent. dividends from fictitious profits
practicing wholesale operations in finan-
cial bills, hOodwinking the Leipziger Bank
and his own OVerSeers, and making i'm
mense advances. The evidence indicated
that the company never earned an honest
dividend, ana that it was a humbug
throughout. even when its shares were
manipulated up 20 1890. The concern was
foUn0ed in 1859. with a capital of $50 900
marks. fC.' utilizing the waste products
of brewcrlcs. Later il purchased a patent
wOOd-distling method. which proved
worthless. Nevertheless Herr Schmidt
captured the confidence Of the public and
N.Nr
D.0o0,0OO marks. In dozen ports he es-
tablished branch wood distilleries in all
the leading continental countries. not one
Of which paid expenses. Herr Schmidt sue
ceeded in launching rOse-cOlOred reports
OF the company S business. The OVerseers
confessed that they We're so fascinated by
Herr Schmidt that they trusted him with
out examination Of the affairs of the COM
pany
There was secret conference Of the min
listers Of state at the imperial chanceIlor's
palace this afternoon under the presidency
OF the chancellor. Count Won Buelow. In
some quarters IL was supposed the confer
ence was connected with the troubles In
the tariff committee of the Reichstag.
which resulted yesterday IN the resignation
OF it's chairman, Baron Won Hardin, one
Of the Agrarian leaders.
In the lower house OF the Prussian Diet
to-day the bill announced by the minister
OF commerce. Herr Moeller. Feb. s, was In
troduced, placing 5S.O00Oo0 marks at the
disposal OF the Prusstan government for
the purchase of mining property in the dis
trict of DOrtmund, Westphalia.
The new electric railroad. which is partly
elevated and partly underground, was for
the imperial. state and municipal govern
ments participated in the trial trip.