Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-07-04
MAYORALT CAMPA|GN
It's Effect on Presidency in
New York City.
TAMMANY LEADERS
BELIEVE THEY HAVE GOOD
CHANCE TO DEFEAT Low.
If Mcclellan is Nominated and Wins
He May Be in Line for
National Ticket.

National Ticket.
| Special Correspondence of The Evening Star.
NEW YORK. July 4. 1903.
| The mayorty campaign in this city next
| fall will open up some interesting questions
| with regard to the presidential contest In
| the following year. The Tammany leaders
| profess to believe that they have good
| chance of defeating Seth Low, providing
| that they can find the proper candidate for
their party. Lows juggling with the tax
rate. and at the same time increasing the
debt of the city enormously. is criticised in
many directions. The increase in real es-
tate values from s, $50 100000 to $4.730, Co.,
600 as a result of Low financial policy will
vastly expand the debt limit of the city,
which Is fixed by the state constitution at
10 per cent Of the assessments on real
property. AS the assessments have been in
creased 81 400. 100000. 1t follows that the
city will be able to issue at its discretion
s14O.OO0.OO0 more bonds. and as its policy
with reference to great public works has
not yet been carried to its full consumma-
ton. there will undoubtedly be a large is
sue of bonds in the next few years.
The Low administration has ''equalized'
| assessments. adding to the burdens of some
citizens and relieving the burdens of 9TH
ers On this account there Is. of course
a good deal of complaint. The tax rate
on which every political party figures with
great care-has been materially reduced
and for this reason the fusiOnsts. or Low
ties and republicans. believe that they have
a sure Thing for reelection. However, The
democrats do not cOncede this.
The Excise Law.
1t is calculated that very large vote
g. IT, 81
municipal election on account Of the dis
favor with which the enforcement of the
excise law is regarded. The restrictions on
Sunday drinking are especially disliked by
large element Of the population, and this
feeling Is expected to be voiced at the polls
The upstate grangers who are said to alb
hOr drinking on the Sabbath. may control
the state legislation from Albany, but they
cannot control the votes in New York city
on election day.
The only problem that worries the demo-
Gratis Is Devery. 1t is admitted that nearly
every vote he will receive. If he runs, will
be taken from the democrats. and If he
should receive the Endorsement of some Of
the different factions in the city he might
become formidable obstacle to democratic
success. A prominent democrat at the city
hall said today that he believed Devery
was in the employ of Boss Platt. Be
this as it may. Devery is factor who must
be reckoned with. and no one understands
ply, the new Tammany leader. Possibly
Mr.. Murphy may find some way of dealing
with Devery and getting him out Of the
way before November next. Murphy is an
astute man. and he may have something in
his sleeve for the ex-chief
Personally Murphy favors Representative
George B. Mcclellan as the democratic can
didate for mayor but he declares that he
will not force his views on the party, and
If it sees fit to name some other democrat
he will support him heartily. The Kings
county democracy forced the nomination Of
Edward M. Shepard on Tammany two
years ago. Shepard was defeated, and 1t is
not likely that he will be placed in nomina-
ton again. Neither Is 1t probable that
Kings county will be allowed to again die
tate the nomination hence George B. Nc
Clellan may be chosen. and a right good
candidate he would make. Mcclellan is
personally popular. and he has plenty Of
ability. too. With him in the mayors chair
the democracy of New York would take on
new lease of life. and possibly he might
become the democratic candidate for the
presidency. II not in ,.4. then in 1903.
The suggestion of Edward NJ. Shepard
and Governor Aycock of North Carolina as
the democratic presidential ticket for 1904
has not awakened any enthusiasm except
in Brooklyn. where Mr.. Shepard is a favor
lite. and possibly in the south. The Manhat-
| tan end of the democracy is not yet ready
| to commit itself. but there are some indica-
| tons that 1t would prefer Judge Alton B.
Parker to any other candidate. The New
| Kings County Democracy, just formed in
| Brooklyn to push the Cleveland boom ia
not regarded very seriously as yet The
| demand for union of the party appears to
| be strong and insistent everywhere
Cold Shoulder to Combines.
The banks here are giving new combines
| the cold shoulder. At least twenty con-
| solicitations have been abandoned during thu
| past six months on account of the con-
| sentative attitude of the banks Every new
| merger is look at askance. and it must IN
| deed be gilt-edged affair before the hold
| ers of funds will consider it fayorably
Consultations incorporated under the
| laws OF New Jersey within the last year or
SO are unable to market share of their
| securities, except at great sacrifice A
| number OF combines have locked their en-
| tire capital stocks up. realizing that any
attempt to market them would result in
| ridiculously low prices. A leading banker
| says: The people must have an opportun-
| ity to digest the securities which are al
| ready being traded in in the various ex-
| changes. Then there will be some chance
| for the new consultations. But they cam
| not expect to receive the high prices which
| prevailed when the consolidation craze
| was at its height. The public absorbed
| hundreds of millions of new securities at
| prices many points above current quota
| tions. The people were badly bitten and 1t
| will be some time before these wounds
are healed. They are cautious and when
| they do invest their money it Is in corpo-
ratfons that have been tried and proved
and have demonstrated their right to ex-
| list"
Morgans hand is visible in the literature
\ now being sent broadcast in reference to
| the International Mercantile Marine Com
| pany. The old war horse knows the value
| of public sentiment, and Is cultivating it
| accordingly representative of the com
| pany here says: THE company is in a
great deal better shape today than at any
| time since it's organization. Things are
| moving along as expected. We are improv-
| ing the financial condition every day. and
| while no dividends being paid on the
| preferred stock. still every cent available
is being put into improvements and ex-
| tensions"
| There is nothing particularly new in this
statement. but 1T shows that Morgan Is
| trying to bolster up the ship trust in the
| estimation of the public.
| Retirement Of Schwab.
| Various reasons given for the practi-
cal retirement of Charles NJ Schwab from
| the management OF the Steel Trust
stakeholder is represented as saying
! Schwab's retirement was due to Morgan's
| dissa tisfaction with his activity in pro-
| noting industrial enterprises other than