Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1903-12-01


would be ungrateful in me to object.
With best wishes, your friend,
F. M. CoCKRELL.
Quite prominent gentleman in New
Jersey writes me enthusiastically as to
q reference lately made in these let
tiers to General Cockrell, but wound up
by proposing the ticket, miles and
Cockrell," which is clearly non Sc
quitur Let it be understood, once for
all, that the Missourians do not intend
to offer Cockrell as V. P. candidate.
With us it is aut Cesar aut nullus.
If my Jersey friend wants General
Miles and General Cockrell both on the
ticket he must turn his proposition
around and make it read ''Cockrell and
Miles," but l am not, the Missouri
Democrats are not, suggesting any
body for v. P. We propose to land the
presidential nomination for General
Cockrell if we can and let some other
section of the country have the v. P.
We will not object to any good and re-
liable Democrat as running mate for
Cockrell
e Tu, Brute!
When Mr.. J. Pierpont Morgan reads
the foundations of himself and part
ners in crime by Republican papers he
must feel like exclaiming in the Ian
guage Of Caius julius Caesar, 'Et tn,
brute" or in the words Of Alfred Lord
Tennyson, II wish that my tongue
could utter the thoughts that arise in
me-" or in the vernacular Of the aver.
age enraged citizen, On it," For
| instance, here comes the Philadelphia
Inquirer, one Of the strongest Repub-
lican papers in the land, with. this
editorial upon Morgan and his meth.
| DDS:
It is high time that the board of III.
| rectors of the United States Steel cor
poration should do little explaining for
the benefit of their tens of thousands OF
stockholders. men and women, who
bought upon the promises made, prom
ises which have not been kept.
Both the preferred and common stock Is
worth great deal more than the market
quotations or it is worth nothing. Which
ia It?
Under oath Mr.. schwaby then president
of the corporation, declared that in his
opinion the actual intrinsic value Of the
properties owned was greater than the
par value of bonds and stocks outstand.
ing.
From the start the earnings have been
sufficient, according to the official re.
ports, to meet every obligation, to pay
per cent on the preferred and per cent
on the common and to lay aside huge
Eurplus.
The promise was explicit that so Ions
as the dividends were earned they would
| be paid, for the directors would have nj
| right to withhold them. And yet the.
have done just this thing. They hav,
| reduced the per cent dividend on tn,
common to per cent in spite Of the fac
| that more than enough money has beer
earned to make the full payment.
| What is the reason for this? Why hal
the stock been falling until 1t has cache,
| to figure but a tenth of its par value
| Why has the preferred, which has no
reduced its dividend been forced to hal
| Its face value when it once sold above 100
The corporation owns the same propert,
that 1t did when Mr.. Schwab swore tina
Its intrinsic value was greater than tn
| capital involved. There has been a fall
ing off to some extent in orders, but tina
does not account for the breaking o
| dividend promises when dividends wer,
earned and the bearing Of the stock I,
| such a ruinous extent.
| II it is true that insiders are manipulat
/ 1h6 tAc StOGA 1OT peTbOndl prOnt, Cnel
| their actions SAVIOR of criminality. TIL,
| syndicate to convert $500. 0O0, 900 of prefer
red stock into S per cent bonds has beer
granted an extension Of time until July
Is the raid on the stock designed to per
NIT this syndicate to purchase at Low
figure and make the transfer into bond.
at profit?
Thousands Of stockholders who invested
their small earnings because they hae
faith In Mr.. Morgan and the directors ar,
entitled to some satisfaction. They wan
70 know what this depression means, and
II is the duty of the directors to make
| some lucid explanation.
A Rising Jew.
Last week referred to the fact that
Hon. Isidor Rayner of Maryland, an
eminent Jewish lawyer, is an avowed
candidate for United States senator to
succeed Hon. Louis e. McComas.
Since writing that Governor Alexander
Monroe Dockery of Missouri has ap.
pointed another eminent Jewish law.
yer. Hon. Moses A. Sale, to a circuit
IIudgeship in st. Louis, vice Judge Fer
Tin, who resigned to accept "Ten Thou
sand q Year as general counsel Tor the