davidaulloa/AmericanStories huggingface dataset:
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
AT NEVADA CON. MINES.
What Is Doing at the Star Pointer
and the Ruth

The Star Pointer shaft of the Nevada
Consolidated company is the scene of con-
siderable activity these days. says the
Ely (Nev) Mining EXpOsitor. a four
compartment shaft has been sunk on this
mine to the depth of $50 feet. and when
the SW-foot level is reached drifting will
be commenced to make connections with
the tunnel now being run from the R0-
loot level in the Ruth shaft. This tun-
mel has been driven for a distance of 500
feet. and as the distance between the
TWO mines Is only ninety feet further, il
Will not be long before connections are
made. Through this tunnel all the ore
from the Ruth mine will be hauled 10
the Star Pointer, and from there loaded
CT cars for the smelter.
The central operating point will be AT
the Star Pointer shaft. Immense chutes
VIII be erected on this ground. AT the
Ruth and Star Pointer mines the Gazing
system will be used. but on the Eureka
property the ore will be scooped UP from
the surface with steam shoVels.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
LIVESTOCK MARKETS.

Omaha Oct. -Cattle-Receipts 400:
steady; native steers. 1856. 40; COWS and
heifers. 250d4. 50: western steers. 32505. 80;
Texas steers, 3-00lI4- 40: cows and heifers
2.90d4G0; Gamers, 1.50a2.5O; stocl1ers and
feeders, 2.75G4.75; calves, 3.O006.00.
Hogs-Receipts, 4500; market 5 lower:
heavy, 5.90d6 O5; mixed, 595d6.05; light
6.1046.20; pigs, 5.5GQ6O0; bulk 5.95d6.O5.
Receipts. 10,OOO; steady: year.
lings. 5.50d635: Wethers. 5.00d560; ewes
4-50q5.25; lambs, 675d7.S5.
Kansas City, Oct 31.-Cattle- Receipts.
1900; steady; native steers, 4C006. %: ma
tive cows and heifers 2.0Gd4. rs; western
steers, 35OGI5.25; western cows, 23063. 75.
Hogs-Rcceipts, 10000; weak to lower;
bulk, 6.1Od61715; heavy. 6.10d6.2 20; packers,
6.O5@6.20; pigs, 5.75d6.171I
Sheep-Receipts, 5000; strong; muttons,
4-5OG5-5O; lambs. 5.75d7-60: range wethers,
4-5606eO; fed ewes, 4.O0G5.25.
Chicago, Oct. 51.-Cattle-Receipts IS
coo; strong TO 10 higher; beeves 4O0d7. g:
cows and neifers, 1906 stockers and
feeders. 24G64.5O; Texans 3.75d4 80: west
ern steers, 10000; calves, 6.O0f1775
Hogs-Receipts, $4,000; weak to a shade
lower: mixed and butchers. 5S5G6 37IL:
good heavy 625G6.40; rough heavy, $3.50
SO: light 5.S0Q6.5212; pigs 5.65d6.10; bulk.
5.a0G6 30
Skeep-Receipts, 5000; strong; sheen.
3.40N06D; lambs, 4.15II7.75
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Mining Notes.

superintendent Alex Moffat of the Gao
tus was in the city yesterday. He says
the mine is opening up bigger and bet
ter every day, and that tells all.
The Salt Lake & Ely Copper company
is having new buildings erected at the
property preliminary to the opening of
a vigorous campaign of development.
Eight cars Of ore from Tintic. seven
from Nevada. two from Colorado. two
from California and one from Idaho. were
released from the Taylor & Brunton
samplery yesterday.
T.. w. Berry, one of the old-time min
ing men of the Park, was in the city yes
terday looking after business matters on
this end of the line. He declares that
the Park is just entering upon a boom
re,lod that will eclipse anything it has
seen in the past and, as has always been
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01

the case. it will be a boom backed by
merit of the mines
Manager c. L. Rood went out to the
Park yesterday TO note the progress of
work in the Ontario drain tunnel, where
everything now points to an early drain
ing of the properties.
Manager c. II. Doolittle reports that it
has been necessary to close down the
smelter at the Utah & Eastern Copper
company's properties in Washington
county because he has been unable to
get the railroad company to deliver coke
at Acoma. Car shortage is given as the
reason for not meeting his needs.
w. z. Reynolds, treasurer Of the Gold
Quartz company, passed through the city
Yesterday morning on his way from Ari-
iona TO Butte. He had expected to re-
main in Salt Lake a day or two to ar
range for the listing of his company's
stock on the local exchange. but business
matters at home compelled him TO keep
going.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
MINING STOCK EXCHANGE.
October's Business Was Larger Than
for Any Month in Years.

The liveliest months business in many
years was brought to close on the Nun
ing exchange yesterday with the transfer
of IS 160 shares of stock the selling value
of which was S37, 793 81. The total uusi-
ress for October amounted TO 81. 052. So. 50.
represented in the sale of 2.143.965 shares
Of stock. During October last year 1872 $50
shares of stock sold for $204 545 II, quite
a difference
taking on boom proportions and prices
have been gradually but steadily climb
ing up particularly i'm the stocks repre-
senting the best mines and prospects.
Most Utah companies whose stocks are
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Treasury Statement.

Washington, Oct. 31.-Today's statement
CT the treasury balances in the genera
fund shows: Available cash oalance; SI 20;
449 AIS. gold coin and bullion. s109 343, 1Sl
gold certificates, S42, 709, $50.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
BULLFR0G'S FIRST ORE
OVER NEW RAILROAD

The Tramp Consolidated wiz make q
forty-ton shipment to Salt Lake within
the next three or four days IT will he
the first ore TO be moved over the new
railroad. Half of 1t comes from the Den
yer and half from the Eclipse. While if
cannot be stated exactly how high the
material will run, il is known to be very
rich, says the Bullfrog Miner
The raise from the south drift of the
Eclipse to the bottom of the shaft has
been completed and the shaft is being
continued A hoist is to be placed at
the Eclipse south drift in a short time.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01

6q61k per cent; ninety DAYS. 61L per cant,
SIX months, 6 per cent
cent 1--WE per
sterling exchange steady, with actual
business in bankers bills at As jfsl6I4 $50
To- demand. and at S4.S44OGI4. $50 for sixty.
day bills. Posted rates, 4.Si1k and 4S5it
Commercial bills. 4.SOlk04. sou
Bar silver, 7O14
Mexican dollars 543s
government bonds steady, railroad
bonds heavy O@I
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
/ financial and Commercial
FASTENERS FROM NEVADA
Prominent Party Passes Through
Town From Trip to Greenwater.

A party Of New York operators, six in
number, and headed by ex-Inspector
Byrnes Of the New York police depart
ment. passed through the city Tuesday
night on the way back from Nevada
The party occupied their own private car
plymouth Rock" and were in town less
than two hours, during which the COM
missary department was restocked. 1t
was not possible yesterday to learn just
who was in the crowd, but it was known
that an inspection of some of the Bull
frog and Greenwater properties had been
made by it
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Afternoon Sales.

Ajax. 2OO6331kc: 3OOd34c.
Carisa-700G63c.
Daly-JUdge-100MS11 30
Lower Mammoth-5O06IS0c.
Lou Dillon-1, 6OOG42c; 2,OO0@49c; 50O9
i216c.
May Day, 2.5OO015c.
Star CON- ,O00l113i2c.
TTtah-1O0IS1. 7211: 500d$1.75.
Uncle Sam-100d39c.
Black Jack-2OO@65c; 2Oea64c; 2eOGeSc; 300
661c.
Century-250140c: 5OO142c.
Little Chief-500df7c: 500d1612c, seller so;
!. O00d1615c: 50Od16c. seller 60.
New York., 500d2S12c; 2.000G29c.
Richmond-Ana conda-1. 0oOGS12c.
Scottish Chief. 500G13lac.
South umbuS-2Oo053c.
81 Victor 5O0G9c.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Coffee and SUGAR.

New York. Oct 31.-Coffee-Spot Rio.
quiet: No. invoice, Sc; mild steady,
Coffee futures closed quiet at a net de-
cline of 5G1O points. Sales were reported
of $1,000 bags, a large proportion Of which
was in the shape of exchanges. The bus
mess Included: November $40; Deem
Der, 6.10G6.15; January, go: March. 40.
May. 6.55d6.60; July, 6.7Gd6.75; September.
6.S5d690-
Sugar-Raw. quiet; fair refining 5 us:
centrifugal, .96-test, 3 LIS: moIasses SUI
gar. 3 ZIG. Refined was steadv
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Open Board.

Atlanta-100G53c.
Black Jack-100m61c, 20OM60c.
Beck Tunnel-500NS1.2
Columbus Con.-1OOq$6.90 buyer 60; 5000
So rs
Lou Dillon-6c0G342c; 1,000d41c
Nevada Fairview-500G29c.
Utah-1006S1 rs.
Victor-5O00dSIzc.
Yankee-500M471zc.
Shares sold. 81 $50
Selling value. $14994 %
Same month last year: Shares, 1880;
value 500, 545.7 r.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01

The Cache Valley Touring mills Of
Richmond. Utah, are drawing to com
pletion. The water viii be turned on
the great water wheel in about three
days and every machine tested and
properly adjusted before the process
of manufacturing -four commences.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Another Silver Purchase.

y Washington, Oct. 3.-The director \
/ of the mint today purchased 100000 \
ounces of silver at 70.71 per fine y
y ounce, for delivery at the Denver =
y mint.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Metal M arket.

Silver. 70Ac per ounce.
Copper (casting), 2lssc per pound.
Lead, S5.75 per 100 pounds.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Stocks i'm San Francisco.

The closing quotations on Nevada stocks
In San Francisco. as reported over the
private wires of James A. Pollock & Co,
yesterday. were as follows
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Money, Silver, Etc.

New York. Oct. a.-Money ON call
strong and higher; 514dS14 per cent:
ruling rate, ~ per cent; closing bid and
offered at per cent
Time loans dull and strong; sixty days,
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01

Chicago. Oct 3L-On the produce ex-
change today the butter market was
barely steady; creameries, 19d2515; diaries,
1S1Lm23.
Esgs-Steady. at mark, cases included.
2Od22; firsts, %; prime firsts, 24Iz ex-
traS. q.
Cheese-Firm, 121L613Lc
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
PHONE DUVALL

About that wall paper. painting. etc.
You will save money. time and WORRY
Don't wait till spring. w. DuvaIL 40
W. Second South Ind tel las; Bell
tel 1l45 Z.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
TREASURY STOCK,

Salt Lake Ely mine for sale, SOC nA-
shane w w. Byrne, treasurer, KENYON
hotel.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Open Board.

Open Board.
Black Jack-4G0Tt65c.
Ajax. O0od33iAc; 500d34c.
Carisa-1O0M62c.
Columbus Cen.-2G0G$6. so; q, SOOdS6.15; 400
Sc So
Daly-Judge-200d$11. so
Little Chief. 000M1712c; 2.00001Ic.
Little Beil-50HS9. 90
Lou Dillon, 500d3Slac; 1,5OOGS9c; 2OOG0
40c: 2O0641c-
Mammoth-200MS1 -7Z12.
New York. O0O629c; 50002S1zc.
Ontario-140GS3 rs.
Scottish Chief-1. OO0a14c; 1,O0O@1fl4c,
buyer 60.
South ColumbuS-JOOM53c.
Shares sold. $3.50.
Selling value, S22943.72
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
BulIfrog Stocks.
Manhattan Stocks.
Forenoon Sales.

Great Bend-1O0G59c.
Silver Pick-l0G0$1 50.
Ajax. 500M321hc; 50Gd33c; 5OOd34c.
Carisa-2. 000d63c.
Con Mercur-1O0d54c.
Daly-Judge-100N$11. 371a
Lon Dillon. OoCGS5c: 3.5oO637e; SOOG3Sc;
5OOT3S1bc: 1OO0T371bc: 2.5O003612c.
Star CON- .O00G14c: 5M12c.
Stray og-1.600N61c.
Uncle SAM .O00d@915c.
Beck Tunnel-500GS1. 2212.
Little Chief. 200d171bc.
New York;. 5C0G2Sc: 5aOd2S1bc: 475d2712c.
Scottish Chief. 500613c: 1000G1312c.
South COlumbus-1 .5G0173c.
Victor i .000fC9lLc.
Yankee, O00d4Sc.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01

Maithoid roof1ngs lasts a lifetime
Morrison. Merrill & Co., IS Main st
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01

Cash quotations were as follows:
Flour-Steady.
Wheat-No. spring, $3.50; No. 3. 71Q79;
No 9 red, 725sG74
Corn-No. 3, 49,; No. yellow, 47A
Oats-No. 2, SO; No. white, 349z ass;
No white 33G34I2.
Rye-No. 2, 61462
Barley-Fair to choice mailing, 5000.
Flax Seed-No. I, LOS; No. I northwest
ern. lis.
Clover-Contract grades 1900
Short Ribs-Sides QooSe), S.25QS75.
Mess Pork-Per barrel. 1850.
Lard-Per 100 pounds, 9.1712.
Sides-Short clear (boXed). S.506IS 6215
Whisky-Basis of high wines, 1.29.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01
Butter and Edue-

New York. Oct. 31.-Butter and eggs
unchanged
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-01

!. oBERNDORFER.
Stock Broker.
Tel. Bell 1872 ISL 8. Main ST.
Svenska monitoren., 1906-11-30
HAR OCH DER.

Standard Oil Conpanys pre-
silent, mangmillronaren John ID.
Rockefeller. bief i onsd gs af CT
grandjury i FindIay. Ohio. atalad
for 0tvertradclse af Valentines
anti-trustlag, Juryn vackte afven
atal mot M. G.. Villas, kasso',J M.
Robertson, sekreterare, och HIP
Mcintosh, direkt5r i olJebolaget.
Malet kommer inom kort att
bandlaggas, och skulle de atalade
da bll befInna skyldiga, komma
de att adomas fapgelsestraff eller
h0ga boter.
Som bekant bIef Standard Oil
Company of Ohio nyligen vid
rattegarg indlayforklaradt skyl-
di till samm ,nsvarjning i af>ig
att kringga anti-trusten. c. o.
Myers, en- at jurymannen i delta
nal. har forklarat att han tvenne
ganger blifvit erbjuden $500, on
han vile Sc till att juryn icke e
nades ON nagot utslag. Denna
ak kommer att undersokas af den
grandjury, son nu sammantradt.
Meyers pastar att han icke kande
len person, som sokte muta no.
nom
Red. Wing, Mimi, Nov 10
1906. t
The Minnesota Scandinavian
Relief Association har betalt till
'oljande afidna medlemmars arf
viugar:
1896: Sept. Ist Nils Dahl,
Sioux Falls, e25 Minnesota ave.
S OAK, $4,000; Sept IL Mrs
Mary Erickson, Ashland. 3IS Id
ave Z. Wis, $500; Sept II Mrs
Catrina A. Holmberg. St Paul
$50 Sherburne ave. Mimi, $500;
Sept p Nils N. Landgren, Supe-
'ior, OF Cummir gs ave Wis. $500;
Sept 20 Nils K Brown. Atwater,
Minr $4,000; Ocs A. Carl Claus
son. Annandale, Minna $1,000; Oct
s Christian G. Johnson Mllwau-
xee, 1904 National ave. Wis
$1,000; Oct s o. G. Carlson, Min
neapolis, 4I6 Madison str. N +
Mrnn., 81 900; Oct. II Nils Shirley
Rorup, Mimi, S., 900; Oct I9.
Peter Holster, Minnr apoli 81
Z. Side Flats. Mimi, $1,000; Oct
70, Ole Kronberg Red Wing Mimi.
S., 900; Oct "a Oscar Lundquist
Chicago. US Campbell ave. H.,
$1,000.
D
Svenska monitoren., 1906-11-30
A. G. Rosing.
Ryktbara streikbrytare.

De ryktbaraste strejkbrytare ] delta
and AFRO DIR. Kings New Life Pills. Di
lefyern och ineIivcrDa strejka. bota pill
erna qyickt akomman och utfora sin re-
ningsp ocess Basta bot for forstopp-
ning. hufvudvark och svindel. 25c no,
! ungren q ADdieen, ~apoiskare, Sioux
City. la.
Des Moines utkampade i tbs
Tags kvall Nels Reimer och Os
car Wasser den utlofvande kam-
pen. Efter en- brottningskamp,
ON varade 81 minuter och IS Sc.
Svenska monitoren., 1906-11-30

kunder, segrade Jessie Reimer,
bland landsmanner kand som''va-
ran Nels'", efter en- strid, hvilktn
almant erkannes son en- af de
bista som utkampstsi Des Moines'
enom att iva pa hvarandra fol
jande ganger tvlnga sin motstan-
dare till golfvet. Forestallnin-
gen afslots med foljande y~ttran-e
at den besegrade: "GentIeman.
lag glorde ALT Jag kunde och viii
saga raft har, att endasr tire man
ha besegrat mig forut. Frank
Gotch o~fvervann mig, sedan jag
vunnit en- gang pa honom. Far
mer Burns bssegrade mig och at
v-n Jack Carey och nu Riemer
har som ar den fierde. Jag har
ingen orsak att beklaga mig och
jag forusager att inom iva ar skall
eder Des Moines man vara Anne
riSas storsta brottare. Reimer
som ar 6 fot lang och wager zoo
pounds. var betydligt ofverlagsen
sin motstandare babe hvad stor-
lex och styrka betraffar. men (
huru delta uppvagdes till Ell del
af dennes vighet och eE fallkom-
Iig kannedom ON allla brottnings-
kampens knep och fnter, formad-
de han dock icke att emotstS den
svenske den svenske kampens O.
erhorda styrka. Han var dock
fera ganger uti en- synbart kritsk
staining, l.varur han dock aIltid
fam en- vag att undkomma.
Bankforlust. Oscar Ander-
SON Marquisville hade egen bank
uti en- elaskanna nedgrafd uti bak-
garden, men han har Diet icke
mera, ty nagon har stulit babe
bank och pangar och endast lem
nat en- hal i iorden. Anderson
markte Diet forst dS han harom
dagen skulle CORA en- AMMAN in
sattning". Han samlade pangar.
ma for att sanda dem till sin hus-
tru i gamla landet. De hundra
dollars han under traget arbete
ihopsparat yoro iorsvunns, och
med dem den vantsde gladden.
att ia aterse sin kara gumma un
der nastkommande julhogtid.
Grefvinnan Bori de Castel
lani har andtligen eiter en- lang
rattegang vid fransk domstol i
Paris erhallit skilsmessa fran sin
man. sedan han forslosat manga al
sin svarfars, Jay Goulds mlllioner.
De i aktenskapet iodia barnen, tire
till ~antalet, lemnades i moderns
ward men ia enligr domstolens
utssag ej foras utom Frankrikes
granser. tills de uppnatt myndig
alder. Fadern far besoka dem pa
vissa tider. Han Dor nu hos ST
ma ioraldrar och ar alldeles bero-
ende pa Diet underhall de kunna
gifva honom.
The Greeley tribune., 1906-02-08
BARONESS Won STEPNBURG.

such cases, that the American eirI
should bring TO the man of her cho'ce
n fortune of $4,000
Now Miss Langham comes OF yer!
old Kentucky family, but none 90 "t
its members happened to have S-V'"o
f. hestow as n dowry, and for a uiue
tho course of true love appeared " "
rrp ANYTHING but smoothly; but III
tho end the Teutonic officials relenteu'
and the couple were married. W htn
p,ron Won Sternhurg took his bride. 10
tho Fatherland, she carried every 'hll'E
hafore her hy virtue of her beauty
and sweet disposition, and the "g, :,
nan rmnoror remarked, III i ~ Me' hot.
artist I would wish for roa"."- .,tm
Tor than to paint your p"r''u.I With
,,,, D,.o,oss has violet eyes W
49, n sa-,, roshcs. reddish hIonIr a-, ma-,,
",'i,, r,,. -c,oue cnmn1CNinn. Nl'''C.- rta
I'M I'M g, ,ot,ve Of the Golden rn,on
60, ~ ,,.t,- was m FnTL,sil.l,,,,' IN,
49, , 49,. ,othcr n native OF cn'Cr -. ~
.nd ne ,.t-cse Of the German '-,n ~,
, 49, ~ woeh'rrron Is nlnl"-
~, :. home IN Furone rs ~ and
,,, +or che WAC educated IN - o,+-v
D-o,5o, and made her lorLuHi
.,4o rccfntv- IN 7 On10n. Two
~. ct,rrbr-re are nmnns
,,asss, 1as nersonnr friends Of the l,I IN, t5s
dent and Mrs RooseN'lL, ,tory NJ the
r IN. then mere tro,',r ,, r1c or Mr
German Embassy. 5ovg when
Da,i., r-or'cs IN tho "'lN7
n"ose, r,;,r MAGISTRATE NAS u
ru' r-,., con,m'ssfnuer lhe wv
'Nn S't WV -,rr-C4 together w
men men roTS SoEr am md naturally thF Pres, Pres,
Tost da,iy; s,,'pptod nrb when his old chm ,,
onGF, ons ,be =" paron and his wife spent the e
rOr+,on M or OF their honeymoon ~ 'H'
White House.
The Greeley tribune., 1906-02-08

Total ............ s37,O2S ,571.50
The estimates for 1906, 1907 and
1908 are made by the General Land
Office.
This fund is, according to the law,
to be invested by the Secretary Of the
Interior, in feasible irrigation pro
jects which will repay the amount to
the Government. in ten annual install,
ments from the settlers.
The apportionment of the fund by
Secretary Hitchcock has been practi'
cally completed and the plans matured
for eXpending the entire fund on GER
tain definite projects in the West,
which practically brings to an end fur
ther surveys and examinations, and
permits the concentration of effort OF
the Reclamation Service on the build
ing of few important projects.
irrigation and Rivers and HarborS.
There are many people who do not
entirely understand the difference be-
tween the appropriations made for the
reclaiming of arid lands and those for
the Improvement of rivers and har-
bors. There is a disposition to criti-
Cize Congress for permitting the ex-
penditure of millions in making hab-
liable and productive large areas of
the public domain now worthless, and
at the same time cutting down the ap-
preparation for work on our national
waterways.
Apparently the. fact has. been over
looked that Congress has never made
an appropriation of any specific sum
for reclamation. On June II, 1902, the
The Greeley tribune., 1906-02-08

cessiVe. The danger line will ha
reached when the bank note circulation
comes to bear an undue relation To tho
gold reserve of the United States treas.
ury. The growth in national bank notes
In hve years has increased their
amount from S2l6,0O0,OOO TO s37S 600
0OO, based on government bonds or
ABOUT SoO,OOU,OOO per aunum. :. 4
calculated Lnat the gold stock of the
country increases annually in about tn.
proportion that population increases
DurinS tHo last fiscal year the basis
money or the natlon was increased hy
the addition Of $23,000,O00 in gold Ger.
tlncates 1t is urged that as the bank
note circulation increases faster than
the growth Of the money of redemp.
tlon. the process tends toward initiation
II adds to the burden OF money which
the gold reserve must maintain at
parity.
No remedy for this situation Is IN
sight, and it is stated that it NAV be
that an unhappy financial depression
will be needed to call the attention OF
the whole country to the necessity for
caution in loading up trade with too
great an issue of bank notes. At pres-
ent there is no limitation on the or
sanitation OF national banks except
hat they cannot 20 beyond the bonded
debt. Tho bonded debt is now $685.
100000, Of which s4S2 100000 is used
as security for note issues and s65,O00,.
600 as security for government de
poslts. An Issue of s130,OO0,nOO Of
canal bonds has been authorized. and
the whole world knows that other Is
sues OF canal bonds must be made. II
the canal is to be constructed on the
lock principle. this bond issue will
necessarily be doubled and probably
trebled. When the canal is cut down
to sea level the cost of construction
will very nearly be doubled and the
bond issue accordingly increased.
The Greeley tribune., 1906-02-08

reclamation law was passed setting
aside the proceeds from the sales OF
public lands in certain. Western States
and territories for the construction Of
irrigation works within their borders.
The law at the same time provided
that every dollar so expended should
be returned to the Government by the
settlers who take up the lands re-
claimed. In other words. the nation
made an advance of the receipts from
the sales of certain public property to
make marketable other public prop
erty. Out Of the many millions ex-
pended by the Government in river
and harbor improvements, not cent
has ever been returned directly to the
Treasury. nor was it expected that any
return would be made.
Departments Wide Authority.
The irrigation act gives the Secre-
tary Of the Interior very wide lati-
tude in the investment of this large
fund, although he is required to spend
The Greeley tribune., 1906-02-08

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