The independent., 1903-04-09

loperation; and it is probable that
now nc the the public ownership of the rail-
roads would not alone be sufficient.
independent oil companies are prac-
tically all killed OFF. Rockefeller
towns practically all the source of sup
lply-the oil lands. And 1t might be
necessary to have public ownership
of the oil lands, too. Ii there never
had been a privately owned railroad,
| it is difficult to see how the Stand
ard Oil company could have grown
so prodigiously in such short time.
But having SO grown and having
lswallowed practically every competi-
| tor, failure to use the ounce of pre-
vention doubtless now necessitates ap-
plying the full pound of cure.
Take your choice, doctor; but re-
member that republican soothing sy-
rup is useless
$SS$S>SS
The supreme court of Nebraska has
recently decided that railroad is
public" highway, but the men who
own them don't seem to agree to that
proposition. Recent occurrences go to
railroads are private property, but that
they can be operated at any time for
the personal convenience and pleas
ure of the owners without any regard
at all to- carrying the mails or the
business interests involved. A few
weeks ago Mrs. w. X. Vanderbilt held
a fast train on which she was trav-
cling for three hours on account of
whim that seized her, after she had
her private car attached to it. An
other fast train was held for two and
a half hours to accommodate son OF
the president of the road who was out
on a pleasure excursion. The pluto
cratic dailies have no comment to
make on such occurrences, but If some
workingmen should delay mail train
they would demand that they all be
sent to Jail in short order and the
dailies would be filled with denuncia-
tions of the outrage. The republican
party and their judges seem to wish to
impress on the American people the
fact that the old order of things.
which involved equality before the
law, has passed away forever.
!, SS$S$S%
4 There are many peculiar phrases
used on the financial exchanges of the
world, which have no meaning at all
to the ordinary reader and writer OF
the English language. A new one has
come in vogue during the last few
weeks, which this editor, though he
has been a reader Of financial reports
for years, never saw there before. It
is "contangoed. 1t is an old Eng
lish word which for a long time has
laid undisturbed in the dictionaries,
now brought forth again to do duty
on the stock exchanges and boards OF
trade. 1t means sum OF money or a
percentage, paid for accommodating a
buyer in carrying an engagement to
pay money for the speculative pur-
chase of stock over to the next day.
A good deal of that sort Of business
has been done on Wall street lately.
Stock has been borrowed over night
and as high as per cent has been
paid for the use of it for few hours.
They have "contangoed" on the Eng
lish stock exchange during the last
few days. Prices have been falling
there as we'll as in New York.
$$$$$S&
The New York 400" still continues
to degenerate. When the monkey
dinner" was celebrated at Newport,
most people thought that the lowest
point in sillydom was reached, but
they were mistaken. A 'horse din
ner" where the horses ate shredded
oats out of enamelled troughs while
the monkeys who make up the 400
ate from tables strapped to pannels of
the saddles makes the former func-
ton appear like an old maids tea
party. But New York is going to in
vest over s7000,000 in church edifces
during the next two years and the
400" are all members in good stand
ing in the various churches.
SSSSS<SS%
ASHBy'S ECONOMY