The Montgomery advertiser., 1904-06-01
HEARST BOOM IS OVER
COLLAPSE OF PLAN TO BUY NOMI- NATION BRINGS LITTLE
 SURPRISE.
Rir Barrel has Run Dry--walter Well- man Sees Financial Distress in Candidates Recent
 Actions.

fin Candidates Recent
 Actions.
 Walter wellman's Washington special to Chicago Record Herald.
 The financial and political collapse of the Hearst Presidential boom is the talk of the hour. Little surprise was expressed here when news came from St. Louis that MT. Hearst had can celed his contract for 150 hotel rooms turing the convention week in that city and that he had informed his lieu tenants that no more funds would be furnished for political operations. It had been understood here for some | time that Hearst was nearly at the end of his string so far as spending money for delegates was concerned and that the hour was near at hand when he would find 1t necessary to cut off his campaign expenses and husband his re- sources in taking care of his news lpaper enterprises According to the version given this morning by The Washington Post, a paper which from | the first has ben friendly to Hearst. | in letter to A. M. Lucas at St. Louis, Mir. Lawrence, western manager of Mir. | Hearst's interests. quoted Hearst as fol- lows: ''If the people want me they | can have me; if they don't want me I don't want the place. In other words, MT. Hearst has discovered at last that the Presidency of the United States can not be bought. He has tried and fail- l ed. and at last knows he has failed. But he makes the discovery, according to the best information, only after spending a princely fortune in the vain pursuit of this will-o'-the-wisp of his | inordinate ambition. The estimates which L gave some weeks ago. coming | from one of Hearsts New Tory em- ployeS that the Hearst boom had up to that time cost million and a half | dollars, is now believed to be too low | figure. Others in position to keep fairly close tab on his expenditures de- clare that the grand total will rise to two millions of dollars.
 The first sign of financial trouble in | the Hearst Presidency-huntinge expedi- | tion came to light few months ago,
 when Mir. Hearst formed a company under the laws of New Jersey to hold the stock of all his New York news. paper properties. It was understood
 at the time that this was a device for manufacturing collateral which could | be used in the banks for loans, and for
 cial circles in New York City that
 Hearst was heavy borrower. His
 newspaper properties in five cities | probably are not paying their expenses. Newspaper men who have a close idea
 of the affairs of the Hearst journals
 say he is breaking even in New York,
 losing a little in Chicago, making
 money in San Frincisco, losing rapidly
 in Los Angeles and burning 1t in Bos- | ton.
 MT Hearst's private fortune. added | to that of his mother, doubtless Is | strong enough to carry all his busi-
 ness enterprises through, and no fear l Is expressed of bankruptcy or failure
 of any sort. But the political organi-
 zation. which Hearst had built up almost entirely by the use of money
 was making such enormous demands | that something had to be done to avert l -nl n, zlx concluded to drop politics and attend Fto his legitimate business interests. | About three weeks ago ex-Congress-
 man Lentz of Ohio and other friends | of Hearst came back from New York
 and reported that the self made can-
 didate had succeeded in inducing his
 mother to advance him another mill lion, or at least a large sum of money,
 and that the chase of the Presidency would continue as before. This was good news for all of Hearsts myriads
 of workers in the political field. But
 in a few days came whisperings that Mrs. Hearst had said, when she gave
 up that contribution to her sons cam
 paign fund. it would be her last, and
 trouble was scented at once by the
 knowing. From all appearances the
 Hearst managers have cleaned out
 Mrs. Hearst's last allotment, and the
 barrel has now run dry.
 Indications of the approach of the
 end were given a few days ago. when
 announcement was made that Mrs. Hearst had notified a Kindergarten
 school in this city, established by her
 that she no longer could contribute
 the usual funds for its support. This
 was followed by news from San Fran
 cisco that Mrs. Hearst's benefactions in
 that city were being reduced similarly. Now comes tidings that Hearst him
 self has given up the 150 rooms which
 he had engaged in the St. Louis hotels
 for the 500 delegates he expected to
 have; that he has notified his agents
 the barrel is empty and that orders to
 cut expenses to the bone have been
 issued to the local managers of the
 chain of Hearst newspapers.
 It sems a pity that the name of Mrs.
 Phoebe Hearst has to be drawn into