Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1903-11-26
= = 4 = 4 Il Il = = 4 = 4 I



Especial Washington letter.
- NOE more Missouri viii present
@ favorite son 10 the national
Va W Democracy as presidential
candidate and ask the nomi-
nation, and she does well. His name
is Francis Marion Cockrell. senior SEN
ator from that magnificent COMMON
wealth. In 1896 she presented Richard
Parks Bland, and had his forces been
properly. organized he would have won
the nomination In the CockrelI mat
ter the Missourians are taking time by
the forelock. For some months it has
been doubtful whether the modesty of
the senator could be sufficiently over
come to induce him to permit the use
6 his name in that connection. but the
fjllowing letter removes all doubts on
the subject. He will permit It. he will
have solid and enthusiastic delega-
ton from Missouri, he ought to have
lots of strength outside the state and
is in every way worthy of nomination
and election. Here is the letter:
MY Dear Major Salmon-Y Your favor duly
received. As have repeatedly said, am
a candidate for reelection to the United
such reelection. / am not seeking the
nomination for the presidency. The move
ment by the Democrats of Missouri to
present my name for that nomination to
the national Democratic convention is
without my solicitation, directly or indi-
rectly. Therefore appreciate the more
highly the honor conferred by the resolu-
tions adopted by the Democratic mass
meetings at Moberly and st. Joseph, Mo-.
and the personal assurances and indorse-
ments of friends. These show clearly
that the movement is not inimical to my
candidacy for reelection to the senate
and come from friends and loyal Demo-
Gratis and that such apprehension is in
fact w. bout foundation The proprieties
of course forbid that should say I am
or win be a candidate for the nomination
for the presidency. Perhaps l go far
enough when say I am gratefully APP
preciative Of the continued confidence and
friendship of the good people Of Missouri
and of the great honor they do me in
mentioning my name in connection with
the highest Office Ia the greatest nation of
the world yet if the Democrats of Mis-
souri, deem me worthy and desire, with
out my seeking. to present my name to
the national Democratic convention for
the nomination for the presidency it
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
a reference / lately made in these let
tiers to General Cockrell but wound up
by proposing the ticket, Miles and
Cockrell," which is clearly a non Sc
quitur. Let it be understood, once for
all, that the Missourians do not intend
to offer Cockreil as " p. candidate.
With us it is aut Caesar aut nullus.
If my Jersey friend wants General
Miles and General CoclzreIl both on the
ticket he must turn his proposition
around and make it read "Cockrell and
Miles, but / 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. r.
We will not object to any good and re-
liable Democrat as a running mate for
Cockrell.
ct tn, Brutel
When Mr. j. Pierpont Morgan reads
the denunciations of himself and part
ners in crime by Republican papers he
must feel like exclaiming in the lam
guage of Caius julius Caesar. Eft tu.
brutep' or in the words of Alfred Lord
Tennyson, 81 wish that my tongue
could utter the thoughts that arise in
me- or in the vernacular of the aver
age enraged citizen. s'D-n itI' 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 d.
rectors of the United States Steel cor
poration should do a 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
is it?
Under oath Mr.. Schwab, 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 Z
per cent on the preferred and 4 per cent
on the common and to lay aside a huge
surplus.
The promise was explicit that so long
as the dividends were earned they would
be paid, for the directors would have no
FL 49, Al "a. -.
have done just this thing They have
reduced the per cent dividend on the
common to 2 per cent In spite of the fact
that more than enough money has been
earned to make the full payment.
What is the reason for this? Why has
the stock been falling until 1t has reached
to a figure but tenth Of Its par value?
/ Why has the. preferred, which has not
reduced its dividend, been forced to halt
its face value when it once sold above 100?
The corporation owns the same property
that it did when Mr. Schwab swore that