davidaulloa/AmericanStories huggingface dataset:
The mirror. (Stillwater, Minn.) 1894-1925, 1903-11-05

alton than the man working Tor
him by the day. On the same
principle I maintain that the lead
ers of industrial movements are
entitled to their fair share of the
profits Of their undertakings, based
on their experience, responsibility,
risk, foresight and success. At
the same time a complaint often
heard against industrial combina-
tons is the fees paid the under
writer's, the kickers paying no at
tention to the fact that failure to
effect a successful combination
meant in many cases insolvency to
the underwater. A famous New
York trust company attempted to
underwrite a combination of the
shipbuilding concerns. It was un-
successful and the penalty involved
came near being bankruptcy. Are
not those who take such risks en-
titled to a proportionate profit?
Another complaint even more
often heard is on the head of wa
tered stock. When a concern is
reorganized, or a combination of
concerns is organized, and shares
offered to the public, it is the
custom to issue stock to cover
not only the actual intrinsic value
of the property involved, but also
to capitalize its earning capacity.
Carried on to Legitimate extent,
why should complaint be made
against this? A business is valued
not by the number of dollars one
puts in it, but rather by the num-
Der one can take out. Behind
each of these great businesses are
years of work of the ablest men
in their lines. The work these
men have done in establishing the
business is in many cases greater
asset than all the property turned
over; the value of their names,
good will, trademarks, are meal
culable, as are the value of the
brains that conceived the great
work. Why is it illegitimate to
capitalize those brains, to demand
that a fair proportion of the
profits of the work they have
done revert to their orr ginal
owners? The fact that a sim
liar plant could be produced for
one-third of the stock issued when
the old business is sold, is no ar
gument. There is nothing easier
than to duplicate a certain plant,
but to operate that duplicate upon
completion so as to earn as much
as it's older rival is the point.
There again you are up against the
question of brains. Produce them
and after years of work you may
have the equal of its rival: fail
and the chances are 100 to one you
will fail-and you have a white
elephant eating itself up.
The most prominent example of
the issuance of watered stock be-
fore the public today is undoubt-
eddy Steel. There is no question
but that stock was issued far in
excess of the value of the property
acquired; but the point [ wish to
make is that it was not in excess
of the possible earning capacity of
the different companies, and that
it's issuance was therefore strictly
legitimate. Experts have demon
strated that these properties when
developed to their fullest extent
are capable of paying a fair return
on the total stock issued, and if the
public wishes an interest in the
steel business, that is the basis up
on which they are entitled to it.
We're stock issued only for the
actual value of the property, its
earning capacity would force it SO
high above par that the public in
Evening star., 1903-08-25
Return.

One time I went a-wanderin' around to see
the sights;
I travelled on the trolley cars an viewed
the 'lectric lights;
some as could,
An never mind the money If the things 1t
bought was good.
1 bought myself a guide book an did my
very best
To take in all the places of historic interest:
An yet in spite of all the wondrous spots
where had been
The best part of the journey was the gettin'
home agin.
l call to mind some men who turned their
backs upon the farm
An started for the city, led by fames mys-
terious charm;
They put away the dollars an they said
some day they'd buy
A place out in the country where the forest
an the sky
Made pictures an sweet music; where the
flowers blossomed fair,
Jes' like they did when they were boys,
without a thought of care.
1t pears to me, no matter what the tri-
umphs you may win,
The best part Of the journey is the gettin'
home agin
Evening star., 1903-08-25

acres talked OF the limit having been
reached. But the next year Maud s., an
other wonderful mare, upset all calcula-
tions by doing a mile in 2.OSZ, and she held
first place until 1891, when Sunol brought
down the record to 2OsA. These slight
advances created feeling that the two
minute trotter would be long in coming,
but after Sunols performance a mechanical
change was effected In favor of the horse.
The old-style high wheel sulky was aban-
doned for the bicycle sulky, with ball
bearings This materially increased the
chances Of breaking the record. and after
several efforts Nancy Hanks in 1892 did
the mile in 2:O4. which was so large a gain
that the hopes of the enthusiasts were re-
vived. Then in 1894 Alix Clipped a quarter
of a second of the time and there 1t hung
until 1900. when The Abbott took OF nalf
a second Then in 1901 Cresceus lowered
the record by a full second to 202K. 1t
was thought that perhaps Lou Dillon might
bring the time below the 2.02 mark, and
few if any believed 1t possible for her to Ian
fair on the long-cherished two-minute mark.
But she did and now the struggle for the
next mark will begin. Lou Dillon Is a COM
parative stranger and even in the hour OF
her great triumph there is a feeling among
the shrewd followers of the sport that she
is capable of better time than that Of yes
terday at Boston
Evening star., 1903-08-25
Secretary Root and His Successor.

Secretary Roots resignation takes effect
January 1 and on that date Judge Taft
will become a member of the Presidents 8
cabinet. The official announcement to this
effect today clears away all doubt and per-
mits the country to consider the changes in
their broader aspect. By January 1 Mr.
Root will have finished the great work
which he has so skilful}y managed during
his incumbency, the reorganization of the
army on modern basis of high efficiency
But this will not mean that he will leave
the War Department a mere routine bureau
calling for the executive capacities Of only
a superior sort of chief clerk. The close
relations between that department and the
island possessions will continue to demand
the most careful administration and moth
ing could be more desirable than that the
management of those relations should be
entrusted to one so thoroughly adapted to
such a task as Judge Taft
The climate Of the Philippines has been
a severe trial to the governor of the islands
and it Is known that he has sacrificed his
personal comfort and even endangered his
health out of a sense of public duty. His
work there is not finished. Much remains
to be done in the adjustment of the rela-
tions between the government and the peo-
pie. But the foundation of the American
sovereignty has been laid and the su-
perstructure will be the more substantial
by being reared under the direct su-
pervison of Judge Taft as Secretary Of
War He will serve the country in respect
Of the good government of these posses
sions more surely at the head of this de-
partment than as a member of the Su-
preme Court, however we'll fitted he may
be for so high a judicial position.
AS Secretary of War Judge Taft will be
In a position for further rewards and hon
ors. He is young man, whose ability has
been given the most signal tests and proofs
He Is devoted to the public interests, as at
tested by his continued service in a trying
climate in a struggle with the gravest of
problems. Had he desired a congenial
berth he could have had 1t for the accept
ance a few months ago when the President
rendered him a seat on that goal of all
American jurists, the Supreme bench. His
declination was characteristic Of the man
and earned for him even higher regard
from the country
Evening star., 1903-08-25
Carter Harrison "Retires.v

Carter Harrison, on his vacation and jour-
neying to the cool reaches of the Yellow
stone Park, said to a newspaper reporter
at Butte. Montana:
when my term has expired shall retire
and hope to be left alone. / will never be
a candidate for any political position. but
will always be interested in the partys sue
cess
How natural this is! His honor has but
just escaped from the hot streets of Chi
cago. from the hotter atmosphere of the
city hail. and from the hottest scheming of
which the politicians are capable. A feeling
of relief is coming over him. The breezes
from the mountain ranges are beginning to
tell. The traveller Is falling in love with
nature. He is full of reflection as to how
vile man is. He puts away ambition with
the ease of changing hats. How long will
this spirit last? Probably until he returns
to Chicago. No longer. If that long.
So runs the world away. They all do 1t.
Mr.. Cleveland. an older and ADLER man, has
these spells. He was very tired in March,
1897, and welcomed repose. He was
through with selfish politicians and O stupid
party organization. What was the use of
trying to lead such people? Where intelli-
gence and gratitude are wanting in those
you serve. what satisfaction can you feel in
doing 1Or tnem! In tn1S frame OK nina Mr,
Cleveland went to Princeton. and settled
down to life which had many charms. In
tellectual company all winter. and leisure
for the seashore and for fishing all summer.
Would Mr.. Cleveland abandon all this for
another term in the White House. with the
accompanying turmoil. and melancholy
displays Of scheming, selfish human ma
ture? Would he? He is anxious to trade,
and will give boot. His friends have
gathered around him and said: You are
the only man who can pull us through.
German Is we'll enough in his way. Parker
is good Judge. Olney's place Is in law
Office Hin is simply smart, and Bryan and
Tom Johnson are discredited cranks. We
turn to you as the man Of the hour, as the
man for every hour. Come. Save us, and
save the country" And that tired feeling
OF six years ago disappears, and Mr.. Cleve-
land is Joyously In the hands Of his friends
again. The Intellectual life at Princeton,
the trout streams OF New England, the
duck blinds Of the North Carolina coast
cancot hold his heart against this eugyss-
Evening star., 1903-08-25
Ecclesiastics for the Philippines.

new archbishop of Manila and several
sufrragan bishops all Americans. and chosen
because of their high standing in the Ro-
man Catholic Church in the United States,
are additional guarantees of continued
peace in the Philippines. They will soon
arrive at their new posts. and be ready to
assume at once their new duties They
have been consecrated at Rome and hence
their instructions as to the church's policy
In the archipelago under American sover-
eighty are fresh and full and from head
quarters.
The arrival of these ecclesiastics in the
Philippines will have the double effect Of
strengthening the hands of the papal rep
resentative engaged there in negotiations
with the civil authorities over the landed
holdings of the Spanish friars. and of i'm
pressing the natives generally with the
new order of spiritual things. They are
assurances to the people that the church
there in future is to be conducted on lines
separate from the state; that the days of
Spain are indeed ended; that as rapidly as
may be the American or the native priest
is to supplant the Spaniard associated with
the odious practices of the old regime, and
that a new day has dawned for the Catho-
lie Church in the archipelago.
We have had no very late news concern
ing the question of the friars' lands, but
negotiations have not been interrupted by
the change in the papacy. Presumably,
therefore. the policy of Leo will be adhered
to by Plus, and in the end carried through
successfully. The new pope has manifested
a keen interest in the affairs of his church
in America and in American possessions.
He has consulted with Cardinal Gibbons,
and from him could only have heard re-
ports and received suggestions friendly to
what Is now in progress in the Philippines.
Indeed. there would appear to be now but
one opinion in Roman Catholic circles In
this country respecting the true interests of
that church both In the Philippines and in
Porto Rico. and that opinion sustains the
effort to remove the land question out of
the reach of controversy, and to minister to
the people through pastors altogether ac-
ceptable to them.
Upon the whole, the outlook in the Philip
pines is most encouraging. The civil affairs
are in competent hands, and General Taft
Is not only trusted but beloved by the peo-
pie As soon, therefore. as the affairs of
the dominant church in the islands are
under the direction of Americans we may
expect good results in that quarter also.
Evening star., 1903-08-25
The Franking Puzzle.

II the penalty envelop privilege were as
strictly limited in all cases as the Post
Office Department is inclined to restrict 1t
IN the matter Of the District government,
the free list Of the public postal service
would doubtless be materially shortened.
The District has suffered because of its
frankness in submitting the question for
an opinion. Few If any other public Off
GERS who now enjoy the franking right are
likely to be as conscientious. The attorney
Tor the Post Office Department in his opin-
Ion declares that the present system of free
mail carriage for the public service was
adopted for the purpose of simplifying the
accounts. Whereas before each department
maintained separate fund for postage
stamps now all the government agencies
are Jumped into one classification No loss
IS occasioned to the government.
One reckoning of the matter in case of
the District government, considered as a
municipality and therefore not entitled to
the franklng privilege, would require the
reimbursement to the local funds of at
least onehalf of the cost of all postage.
that half representing the federal govern
ments interest in the municipality Strict
logic would further require the federal
treasury to reimburse the local taxpayers
to the extent of one-half of the remainder
as the general governments share of the
cost Of maintaining the national capital
Surely the government should not be per-
mitted to dead-head it's own half and to re-
quire the District to pay for it's half out of
the local pocket. The dead-head half should
be regarded as the natural usufruct of the
franking system. and the pay half as the
total postage bill of the national capital
partnership.
II one-quarter of the postage involved in
the Districts correspondence is to be COL
lected from the local taxpayers there will
be no serious complaint. That method will
definitely establish the status of this COM
munity as hybrid municipality half fed
eral. half local. Some such arrangement g
surely preferable to that which obtains at
present, with the District subject to legal
construction either part of the federal
system or as an Independent municipality
according as the Judgment of individual
readers &C the laws varies.
Evening star., 1903-08-25
Mr. Depew.

Mr.. Depew is back from Europe, IN his
usual high spirits and shedding interviews
as he walks. He gives US little news, but
he gives that little well. In this, as In other
matters, Mr.. Depew is public entertainer
II there Is anything of interest going on
abroad he scents 1t while on his annual
trip. and brings US an interesting account
of It. Being celebrity himself he knows
celebrities. and looks them up wherever
he goes. 1t is good to have a chiel of this
kind occasionally abroad takin notes. He
is sort OF statesman-at-large. American
in nationality and commission. but cosmo-
politan in taste and acquaintance and ac-
complshments. He looks at things in a
broad and beaming spirit. and describes
them cleverly. AS he Is only slxty-nine he
will probably continue to shine for at least
twenty
Evening star., 1903-08-25
The Two-Minute Trotter

The two-minute trotting horse Is here.
Unexpectedly soon. Ninety-seven years ago
Yankee took a second off the three-minute
record which had then stood for some TINA.
and started the way toward that goal of all
horse trainers, the two-minute mark r,r
'rotters. The progress was slow. In 1910
Boston Horse made the mile in 2:4sIh ana
held the palm for sixteen years Then in
1926 Trouble trotted in 243ts. Sally Mil
ler's mile in 1894 was made in 2:37 and
four years later Edwin Forrest brought
this time down by half second. The
same year Confidence reduced 1t another
half-second, to 236. and in 1899 Dutchman
sent II four seconds lower Lady Suffolk In
lS4S put the record below the half-minute
gain. at 2:29k. In 1910 Pelham's mile In
-2:2S became the wonder OF the time, but
Highland Maid in 1853 did the distance in
2:H In 1853 Flora Temple, ono Of the
greatest trotters ever bred. reduced the
time by the widest margin in the history
OF the turf. making the mile In 2:18N. Her
iaurels were frequently challenged, but
were not wrested from her for eight years
In 1857 Dexter did the mile In 2:17k and
seven years later Goldsmith Maid, another
marvel. brought the time down to 2:14 fiat.
Those three animals. Flora Temple. Dexter
ana Goldsmith Maid. together accomplished
the greatest gains scored In the contest
between horse and time in fifteen years
lowering the record By 13 seconds. In 1878
Rarus. whose name Is by no means as
ffmiiiar to present-day lovers of the trot-
'.rs horse as are those OF the remarka Bile
tr!o just mentioned. scored 2:I3k, but gave
plFca two years later to ST. Julien. at
2:i'I. Then in 1854 ay-Eye-See accom-
pS j the mile In 2:1O, and some wise
Evening star., 1903-08-25
Farmers Not Easily Misled.
From the Philadelphia Press.

There is vigorous renewal at the pres
ent time OF the efforts that have been made
In previous years to combine the farmers
In one great organization to keep up the
prices of farm produ-+s. But there is nc
prospect Of any greater success than here
tofore. The men who are generally active
In such movements seek their own personal
good rather than that Of the farmers. After
much advertising and solicitation a meet
ing was held last week In Chicago to carry
forward the work of such an organization.
The attendance was small accordinp to
the Chicago Tribune, and included one
farmer, one board of trade member, two
commission men, one capitalist, one broker.
one speculator and one manager of a busi-
ness house. Nothing much could be done
under such circumstances, and another
meeting is to be held early in September,
1t is to the credit Of the farmers that they
are not easily deceived in this matter even
IL this Is an age Of great organisations.
Evening star., 1903-08-25
Drowning Accidents.
From the New York Herald.


The number Of accidents by drowning,
large as 1t has been of late, Is in keeping
with the opportunities of the season. The
statistical quota must be maintained with
fatal and unerring precision. While q very
large proportion Of deaths from Immersion
are preventable, it Is almost useless to
warn the careless and unthinking person
OF his danger. The playful idiot who rocks
the loaded boat is impossible of elimination
save In the exceptional instances when he
goes down with the rest. but 1t becomes the
prudent amateur sailor to be always on
careful guard against the slightest mishap
the individuals who know 1t all" and are
willing to take other lives in their hands
are too numerous to mention. It is when It
Is too late that the victims realize the real
extent to which misplaced confidence NAV
Jeopardize their lives Still this must al
ways be the case SO long as rowing and
sailing are the prevalent summer amuse-
ments and fools are in plenty to take COM
mand.
Evening star., 1903-08-25

ton to return to Washington and resume
the cares of state.
It Is all right. 1t is form Of our politf-
cal entertainment. We look for 1t. We
welcome it. We are never for a moment de-
ceived by II.
Evening star., 1903-08-25
SHOOTING STARS.
Discouraged.

Crimson Gulch has improved a great
deal since I was here last" said the COM
mercial traveller.
EYES," answered Tarantula Tom; we've
kind O. quieted down. A feller come along
from Breathitt county, Kentucky, an we
felt so much like amateurs that the boys
all quit tryin' to show off,
Evening star., 1903-08-25

A life saver at Coney Island had to be
rescued from drowning in the midst of a
public exhibition. 1t Is only the man who
doesn't know how to swim and who is con-
tent to stay on dry land who is absolutely
safe from drowning
Evening star., 1903-08-25

The Pennsylvania Railway has reduced
the time between New York and Ph,la-
delpha on its line by six minutes, at a cost
OF $2.JcO,OoO When time is valued at the
rate Of over 100000 a minute, there can
be no doubling the truth of the adage
Time is money"
Evening star., 1903-08-25

When a prominent politician goes to Oys-
ter Bay, the announcement that his visit
is of a purely social character appears to
be part of the regular program.
Evening star., 1903-08-25

In the light Of previous disappontments,
physicians who hope that radium may be
useful as a remedy for blindness refrain
from making any positive predictions.
Evening star., 1903-08-25

Sir Thomas Upton may proceed in serene
consciousness that defeat will not damage
his popularity.
Evening star., 1903-08-25

Sir Thomas Lipton's yacht may not be
good for much sailing when the racing Is
over. But 1t is a permanent investment in
personal popularity.
Evening star., 1903-08-25

When the walters strike because OF a
discrimination against colored employees in
restaurants, there is not much danger Of
color line trouble in Chicago.
Evening star., 1903-08-25
Noise in New Yofk.

from the brO0klyn Eagtes
The believing OF fake extras up and down
the streets after people have gone to bed
is practice to discourage. It would be
best discouraged IL people refrained alto
gether from buying papers that made q
daily practice OF false and extravagant
statement
Evening star., 1903-08-25
Our Auto Rules.

From the BaIfinaore Amef1can.
In the District OF Columbia permits as au-
tomobile operators will be refused to boys
under eighteen. The streets OF Washing
ton are wide, but not wide enough to ac-
commodate human life and limb and boy
chauffeurs at one and the same time.
Evening star., 1903-08-25

Some of the magnates are trying to figure
out program by which gambling is wrong
in New York and all right at Saratoga.
Evening star., 1903-08-25

Mr.. Bryan's talk of visiting Europe will
no doubt cause Europe to wonder what 1t
has done to be scolded for.
Evening star., 1903-08-25

Elder Dowie has concluded to go to New
York. And 1t Is safe to prophesy that he
will not take any counterfeit money.
Evening star., 1903-08-25
The Bear,

From the New York Mail and Express.
China opens the door of Manchuria to us.
Good! But what is that large ursuline fig
ure which seems to occupy the entire en-
trance-way?
Evening star., 1903-08-25

The enthusiasm with which the Fflipinos
take to base ball leaves no further doubt
of their capacity for civilization.
Evening star., 1903-08-25
Beyond Hope.

care the mosquitoes very bad around
here?'
"Bad.' echoed the native, derisively.
Mister, did you ever hear Of a mosquito
bein converted?"
Evening star., 1903-08-25

The sultan made his apologies to Russia
with promptness and facility born of long
experience
Evening star., 1903-08-25
AN OLD SAYING.

SHOWING HOW CAUSE AND EFFECT ARE
NEVER FAR REMOVED.
IL Is an old saying, ''Where there's honey there's
Dees. Not less true is one which science has
coined more recently "Where there's dandrur
there's germs''-and to push the inference still
further, we may truly say, "Where there's dan
drum cured Newbro's Herpicide has been at work"
The reason Of Herpicide's isolation a genuine
cure for dandruff lies In the fact that 1t attacks
and destroys the root Of the whole trouble-a para
site germ which feeds upon the material which
nourishes the hair folicle
Other so-called remedies not directed at this
true cause of the disease.
Accept no substitute-there is none.
Sold by leading druggists. Send 10c. in stamps
Tor sample to The Herpicide Co., Detroit, Mich.
Edward Stevens, special agent, 9th and Pa ave.
Evening star., 1903-08-25
More Room.

From the New York World.
II the yacht races keep on gaining inter-
est they will have to enlarge the ocean on
Sandy Hook,
Evening star., 1903-08-25

Radium Is already SO expensive as to dis
courage any ideas of forming a trust
Evening star., 1903-08-25
Humble but Important,

Humble but Important.
If every sound were music
And naught but flowers grew,
How we would long for common talk
And plain potatoes, too.