Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1906-01-06
August Belmont.

August Belmont. road, and there
will not be competition for the new
subways authorized.
The new holding company is to have
a capitalization Of over $200,000,0O0 ii
order to acquire the stocks Of the In
terborough and the Metropolitan lines.
It will be divided into trust bonds,
common and preferred stocks. A syn
dicate is to be formed which will I'M
derWrite the entire issue. The an
nouncement made by Messrs. Ryan
and Belmont expresses the belief that
the plan will benefit the stockholders
and will be advantageous to the city
and the public.
Record Year In Commerce.
Preliminary figures of the import md
export trade of the United States for
the last calendar year indicate larger
total than any year on record. The ex-
ports are certain to exceed $l,6OO,0OO,-
600 and the imports to exceed S1,2OO,-
100000
$4,000 For New Carnation.
All records for high priced carnations
Richard .Witterstaeter sold his carDa-
ton seeding. the .Aristocrat,' for $4O,-
! O0O The purchaser is the Chicago Gar
nation association of Joliet ILL.,, which
! takes the entire set of plants, $4,000 in
ALL The "Aristocrat" is cross be-
|. tween the tom Lawson and the In
ouirer." 1t is deep pink in color.
Boston Sells Bonds Direct.
City Treasurer Croker OF Boston has
carried out his plan of offering munich
pal bonds for sale directly to the peo-
pie The total issue was So, 410, 900 OF
31a per cents running from twenty t !
thirty years Citizens came in prom *
" and bought lots varying from S saao
to $25OOOO until all were sold.
Lobbyist Hamilton's Staten -
A long written staten1er 80 W. =, x,.,,,
strong insurance conn TO- .T,,aa o,,
Andy tla a : 4spectfng the large
sums y hiones .ehsch he has handled
a. 49, ,l.s ~ the New York Life and
e en,,4 e assurance companies was
$50. 49, 6ast week from Mr.. Ham
~ Z retiring place in Europe by John
~ xG9QtaI, son Of President Mccall OF
&c New York Life. 1t consists largely
, OF a review of the reasons why such
: large expenditures had been necessary
He admits that it has been necessary
to make payments to others than law,
ysra, but. he does not give tiiell1. q names
and this is taken to be the virtual al
mission that the money has been givan
TO lawmakers or their agents. NJ
Hamilton sent word that he was In
such poor health that he could NOT hrs.
slDly come home at this time to eiqe
oral testimony. He admitted tbera
4 was an open account between him ana
the New York Life and he offered -
deposit 100000 pending settlement :
/ Superintendent Hendricks OF tba
New York state insurance Department
admitted that he had followed the usual
! pract1ce OF the department BY mere
" looking to see If the books and. s+ata
menfs OF the insurance companies tal-
/ lied. He did not try to INQUIRE inf
the matter of extravagance ar aco
nomic management but merely as :,
the matter of solvency.
Louis +. Payn. the former superin-
tendent OF life Insurance Of New York
told rhe committee that he knew noth.
ing OF insurance or of the duties Of his
ONCE, having left all examinations to
the chief examiner. When asked 10
Mr.. Hughes why the Mutual had re-
quested an examination Mr.. Payn said:
We'll, all these great CORPORATIONS are
afraid not only of strike legislation. but
they are afraid Of some of these insur-
ance departments afraid that they viii
come here to strike them Then there
are also agents and actuaries who
strike them; and the Insurance COM
panies are towards