davidaulloa/AmericanStories huggingface dataset:
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
A Warning to the Banks

Secretary Shaw administered a de-
served rebuke to, the money lenders in
his circular letter in which he states
that he expects moneys in depositary
banks to be used in communities where
deposited and not loaned, thru brokers,
in the call -money market in New York.
During the: past week rates were
high, call money loaning at 40 per cent
at one time and ranging from 16 to 80
per cent on two successive days. The
banks of the interior are drawing upon
New York for money for crop moving
purposes. Wall street has bull market
on in stocks. The two things do not
hitch well. People buy stocks on
margins and borrow the money on call
to carry them. When call rates rise
they either have to pay big interest
from day to day or sell out their spec
ulative holdings. There is much man
ipulation in the stock market and much
in the call money market, tho the lat
ter is not so easily traced back to
primary sources. = =, ~ .:'...s..:
1\dtAoAdA oaAho LII ueeu OF, money
have been awaiting themselves of the
means afforded by the treasury depart
ment for obtaining government pc
posits. 1t is the disposition of the
treasury to help out to the greatest
possible extent. -. .,. ,%. -r.
Banks receiving or about to receive
government deposits under. recent
liberal rulings Of the secretary have
been attracted by the high rates in
Wall street. Twenty or thirty per
cent on call looks pretty good to a
bank that loans money in commercial
way, at probably 6 per cent or little
higher for small loans. Hence there
have been some offers from country
banks to loan money in New York on
call, and it is probable some funds were
so placed. This is like chasing Satan
around stump. The secretary would
not deposit moneys in New York banks
to help out speculation. The country
needs the money legitimately and the
spectators must take their chances.
But if he is going to put the money
into interior banks to meet demand for
commercial and 1crop-moving demand,
and the banks are going to send it to
New York because. call-loan rates are
attractive, the whole purpose Of the
relief measure would be defeated and
the speculative market helped rather
than the country in general. 81 ii
The circular will probably have the
effect Of turning the minds of the ,coun:
try bankers away from. Wall street, and
back into channels Of conservative
profits at home. There is demand for
money that -wilhf7Raford satisfactory
profit to the banks=and they need not
be enticed by the ignis fatuus Of Wall
street, which wrinkles for m ON ent
and then goes out. A." - .rTjw
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
2fG5,A q. u.
500 LINE FINANCES

The Minneapolis, St. Paul & SAUL,
Ste. Marie railroad begins the new
hscal year in much the same manner
as does the Canadian Pacifcc, which
controls it: These two northern roads
are recording some Of the largest in
c ere a OF : earnings reported by any rail
roads on the continent, and the remark
able feature Of the situation is that
the earnings continue to expand from
month to month in spite of the fact
that they compare with the good results
OF year ago. '.~s*>. -
The returns of the 500 line for the
month of July show the following
changes In gross and net:
cuau Increase: Increase.
Gross $305, 542 80 per cent
Net ..................... 19s,3os IS per cent
cit will be noticed,' says the Wall
Street Journal, "that the increase in
net is at much more rapid rate than
that of gross. The expenses of opera
ton in the first month Of the fiscal
year amounted to only 50.2 per cent Of
gross earnings: This is quite remark
able accomplishment which, however,
the detailed figures as to maintenance nee
conducting transportation, etc., are
available. The most that can be said
Of it at present is that it appears to
be low, and seems to indicate that. DOS
sibly, maintenance appropriations are
even lower than usual. - t. ....
The great movement Of traffic out
of the Canadian northwest has not COM
menced as yet. The 500 Line and the
Canadian Pacific have been getting the
benefit, rather, of q great movement
into this traffic area, in anticipation Of
bountiful harvests. It is practically
certain, therefore, in view of the abund-
ance of grain raised this year, that the
traffic of the coming fall and winter
will pc even heavier than that of last
year, 7tf = s,'f - :
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09

During last week the public became
moro skeptical, frame. Of mind which
has been encouraged by responsible
brokers and bankers, especially as the
former have experienced serious diff
Guilty in obtaining the money necessary
to carry stocks. Indeed, it is becom-
ing great question whether the money
situation can possibly stand the strain
to which it is being subjected. It is
not so much the speculative activity as
the abnormal advance in prices that
presses heavily upon the money market.
Can money enough be secured at this
awkward juncture-just at the time it
is most needed to move the grain and
cotton crops-to continue the present
reckless bull movement and to carry it
to what its engineers would regard as
a successful issue7
For stock upon which there is 80
much bull talk Steel common acts in a
puzzling manner. Since the resumption
OF dividends the stock has been some
what disappointing to those who had
hoped for a big advance, and this too,
despite the fact that. the buying has
been of the character described as
"good'
John w. Gates arrived in the CITY
early! in the week and gave expression
to his optimistic views as usual. Pos
sibly this is one reason why the market
became dull and sold off.
1t IS expected that the market in the
immediate future will be irregular.
Stanley Schroff.
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
CHICAGO LIVESTOCK

This has been another excellent week
for sheep and lambs. Demand from
both local and outside sources was brisk
and prices held on a firm basis. Most
OF the lambs went 10@l5c higher. Pre-
vaillng prices should be highly encour-
aging to the producers of the west. 1t
was a mostly $5:40@5.5O- deal for the
choice ewes, $40425 for good feeding
ewes and $4.50@5.9O for a very plain
to choice grade of breeders, tho fancy
yearllng ewes went on this account at
$3.50. The good to, choice wethers
Landed at $5:5O@5.7O. and most of the
very scarce and are quotable at s$5.75@
6.35 for plain to choice kind. Prac-
tlcally all Of the range lambs were from
Idaho. Several big prime bands brought
$9, and other extra choice ones sold at
$40, while most of the fair to choice
offerings landed at $7.50@7.S0, with in
between kinds going at $7.25@7.3O.
. Trade in hogs was Of the up and
down kind, tho sellers came out of the
argument with best results. Monday
was no more than steady and prices re-
ceived hard and long fall on the two
following days, the decline during this
period being 100000. This checked the
tree movement Of hogs to market and
ton and prices on Saturday were 5(OlOc
higher than on Tuesday and strong to
DC. above one week ago, tho the top
price at $685. indicated an advance Of
lOc. Prime light reached $685. yester-
day, and the bulk of assorted light
weight landed at $6.50@655. Most of
the shipping hogs sold at $6.2OM6 40.
Big receipts caused a sharp depression
In cattle. There has been nothing par
tlcularly wrong with the demand from
any quarter, but the increased market
Ing made lower prices inevitable and
the range for the bulk is. down 2504Oc
declines were noted in transactions. The
high prices last week seem to have fired
the country with desire to unload and
the preponderance of offerings has been
considerably in excess of normal sup
plies. In five days this week a total
ofs7l 100 cattle arrived, Of which 24,50O
were rangers, against 65,671 week
ago, and 68,1S8 a year ago.
The reaction in prices has been nat
ural sequence Of big marketing. Buyers
have been afforded opportunity to
cheaper their purchases, statesmen have
been forced to concede to declines with
small argument. The general situation
as regards the demand is not such as
o1AoCiAN1 Couoo WIZ AOAoV4VC w Ouc LII
ture outlook.
Heavy steers have been hit harder
than heavyweight classes. The handy
kinds meet best call from both shippers
and packers, a big contrast from the
favoritism shown the big, heavy steers
last week. :.
Prime kinds have met keen demand
of late, but the proportion of such
classes has been very small. Only a few
lots have gone upward of $3.50, and the
best thus far this week at $3.50, against
$685. week ago. Most Of the strictly
choice steers. sold at $5.85@6.40,' with
good to choice export and shipping
grades largely at $5.40@5.S0. -
Medium cows and heifers have been
poor sale and the bulk went at 10@l5c
decline, compared with last week.
Range stock has been in liberal supply.
and with these as competitors against
natives, the latter have hard sale.
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
SIOUX CITY LIVESTOCK

The run of cattle this week foots up
close to $500 head, which is about 1000
more than last week. The increase in
supplies has been due to the more lib
eral marketing of both killers and feed
ers. The fat cattle trade has shown
downward tendency and the heavy
mainly responsible for the demoraiized
condition Of affairs. At Sioux City the
marketing was not more than buyers
could well take care of and in fact
more cattle could have been used had
they been on sale. The lower tendency
here was entirely in sympathy with the
severe breaks at other points, and not
on account of any lack of demand.
Sellers at the close, Of the week are
quoting the cow market 10 to l5c lower
the inferior quality. steers. Dry fed
cattle both in beeves and butcher stock
ruled fully steady with last week.
The stocker and feeder trade has been
generally active. The heavier market
ing early in the week ws5 well taken
care Of, and comprised largely the heav-
Ter weights Of steers. Feeders of good
quality averaging 1000 to 1000 pounds
to 90 into 0 the feed lot TT for wt the retusn
to market, fat, before the holidays.
This class Of cattle was urgently need
ed by buyers from the country. The
good heavy feeders sold at strong
prices, compared with last week 8
best time. The second choice
were steers Of weights ranging from
800 to 1000 pounds, of good quality,
that found a good outlet at about
steady prices, The light stockers and
yearlings and in fact all weights Of
steers not grading good were hard sell
ers and ruled generally 10 to l5c lower
than last week. Liberal marketing Of
cattle may be expected for the COM
ing week and while steady prices may
be looked for! on the good quality cat
tie, there is likely to be wide margin
on the common and inferior kinds.
Packers have been very bearish on
the hog situation this week and on
days Of liberal marketing brought val
ues down to lower level. For the
first three days of the week values
ruled fully 15c lower than last weeks
close, but later there was some reac-
ton and on Friday the market recov-
cred a big Share Of the Decline At
the close Of the: week hogs ranged from
$3.50 to Sc, with the bulk at 1910 to
$685.. The market ruled Just about
steady with last weeks close. The
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09

Southern Pacific July gross earnings
increased $lO57,244; net increase,
$777,375. SSH SIS s. s, s
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09

Chicago to I'D. Fraser-Wrenn was
a good buyer Of December wheat. This
looks like the same buying reported
from Minneapolis. The crowd has been
inclined to follow weakness in coarse
grains, which permitted Wrenn to fill
orders earlier than he otherwise could
have done.
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
SEC. C0BURN's REPORT

+. d. Coburn, secretary of the state
board OF agriculture of Kansas, has re-
celved crop reports from twelve coun-
ties in various parts of the state. show
ing the condition of all crops and stock
for August. Wheat yields are reported
exceptional in all these counties,
! Corn crop will be large except in
county. In Barton county some dam.
age was done to corn by grasshoppers.
but the fight of thousands of gulis in
August killed most of theinsects. Hoo
cholera is reported in the western mart
OF Republic county. Threshing of
wheat is about half done. Fall nloW-
ing, is nearly finished thruout the state
and prospects are for a larger wheat
acreage than this year. :
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
A government report ON tho cond

A government report on the condi-
ton Of the iron and steel industry in
Germany shows that the steel mills
were never so busy as at the present
time. Tho they are running. under the
the demand for steel. Many new blast
furnaces and mills are being built. The
production Of pig iron in July was
j LOAF, AT tons, as compared with 7O3,-
113 tons in that month of 1900. IS
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09

History seems ito gfshow that when
you see, the president and cashier
sneaking into your bank after dark ev-.
cry day. or so it's time to- duck ew.i
ark News =.
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
SOUTH ST. PAUL LIVESTOCK

Receipts of cattle have been liberal
this week, the bulk coming the first
days, the latter days witnessing lin
tied marketings. The big end of the
supply has been western range stuff,
and a larger share Of the arrivals than
| usual were sold here.
Killing cattle were lower in sympathy
with lower markets in the east, where
receipts were very liberal The general
run of butcher stock and steer stuff
was about Is cents lower, while the
best grades were weaker than they have
been. Heavy, veal calves so cents
lower, good light calves steady. Bulls
slow, tho about steady at the previous
weeks decline.
The stocker and feeder market has
shown more activity this week than at
any time this season. The business was
done principally the first two days and
draggy. Several big strings of western
cattle found ready sale here and the
best grades made steady prices.
First-class. feeders sold as high as at
any time this season, there being sales
at So to $40, but the medium and com:
mon stuff suffered a decline, which was
put by statesmen at anywhere from 10
to- 25' cents. The general market,
however, was about Is cents lower
| with some spots a quarter and some a
dime lower.
The hog market was active, tho re-
ceipts have been liz ht. Demand con
tinuea strong, and the light grades are arr
still in urgent demand among local
killers. = The quality has been fair
| with a moderate showing of good to
| choice hogs. The trend was toward
! lower level, tho with the fluctuations
the first days did not see much of s
depre citation. Monday closed with a
nickel off, and on Wednesday there
was a break Of 5 to 10 cents, followed
by partial recovery on Thursday.
| Sheep. receipts have been liberal, and
the market has been in good shape, A
liberal share Of the arrivals consisted
of western sheep of the feeder class
| and all off erings of that kind found a
ready outlet. Feeder demand con
| tinues good, with prices steady tc
| strong. ~
The sheep market went lower at the
| opening of the week, but towards the
| close there was recovery, and quota
| tions were restored to the level pre-
| valllng week ago.
The lamb market was not so good as
1t has been, and buyers Disseminated
against the medium grades. Best lambs
were not much changed, but the fair tt
medium kinds were off rs to 30 cents
for the week, and were hard to sell al
the decline. 70.
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
FAILURES IN AUGUST

Commercial failures during the
month of August, compiled by Dun IS
Review, show an encouraging decrease
in number, but rise in amount of de-
faulted Indebtedness as compared with
the corresponding month last year. In
manufacturing occupations there were
1914 failures against 207 last year,
while liabilities of $3,089,172 compared
with $2,5Ol 1914 in 1905. There. were
573 trading failures against 623 last
year, and the amount Of defaulted in
.debtedness was $3,552,O39, against
$3,287 ,5S6. In each year there were
twentyone other commercial failures,
but last month s liabilities rose to
$2,l79,943, against only 1851 1886 in
1905: Total commercial failures num-
bered 1888 against 85l; while the
amount of Indebtedness was $8,821,I54
against $6,14O,566. In addition to
these strictly commercial insolvencies
there were eight suspensions Of banks,
trust companies and sothers fduciary in
situations, with an aggregated indebted
ness of $7,619,768, compared with five
similar failures last year, when the
amount Of liabilities was. only 1911, l8l.
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-09
Frs dav1oiodvdh

IN >. NJ. NJ. NJ. N. n IN. M.
The per capita circulation of the
United States on Sept. 1 was $3.50
which is the high record mark. This is
based on an estimated population of
84,897, 900. At the same date last year
it was $31.40.
The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1906-08-03
NO SALOONS
In AMERICA
Would be the Result if Christians
Would Vote as They
Pray.

OCEAN GROVE, n. j., July 30
The liquor traffic and Christians who
do not vote the prohibition ticket were
criticized yesterday in the services
held under the auspices of the Nation
al Temperance Society. Bishop Jas.
N Fitzgerald, of st. Louis, said there
would be no saloons in America if
American church members voted as
they prayed Rev. DR.. Jas. M. Far
ras, of the Sixth-avenue Reformed
Church in Brooklyn, said that Noah
was one of the first men mentioned in
history to stumble through drunken
ness. The ark builder, though, had
an excuse for falling, he added, for If
there ever was a man who must have
been tired of water, that man must
have been Noah. The evening sermon
was preached by Rev. David ]. Bur-
rell, pastor of the Marble Collegiate
Of New York.
The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1906-08-03

the darkened waters waiting for him.
The Captain of the steamer would not
permit the tug to come any nearer to
his ship Fielders stood beside the
rail, loudly demonstrating with the
man commanding the big ship. He
stealthily placed one leg over the rail,
, thenthe other Then there was splash
ing sound below and a chorus of shouts
from the passengers. The reporter
was overheard! Out in the ripping
light his body was seen to rise, and,
as it did, the daredevil began swim
mig toward his tug. His comrades
had thrown out line at signal from
him previously given, and he made for
that line. Would he ever get IT?
Could they see him, mere speck on
the dimly lighted waters? He gained
i, a hold on the rope, was pulled aboard
the tug, gave orders for her nose to
be turned toward the Manhattan shore
with all possible speed. The Times
contained a full and graphic story of
the loss of the Oregon next morning,
Success.
The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1906-08-03
An inheritance Tax.

Every form of taxation is more or
less unpopular, but the inheritance
tax law has been placed upon so many
statute books that it appears to be bet
ter liked than any other tax law. This
may be owing chiefly to the fact that
the decedents, having no further use
for money in this world, cannot OBJ
ject to the law, and the beneficiaries
are glad to receive anything after the
lawyers and courts have gotten
through with the funds.
The State treasures certainly bene-
fit considerably from the statute, for
in Massachusetts alone, during the
fourteen years the law has been OPP
epative, the aggregate amount collect.
ed was ss,74s,14s.-Boston Globe.
The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1906-08-03
A BIG ''BEAT."
How Reporter 'Scooped" the World
on the Loss of the Oregon.

Undoubtedly the boldest undertake
ing on the part of a reporter to score
a beat" ever known in the history of
American journalism was when Thorn
as B. Fielders, of the New York
Times, leaped from a steamer in New
York harbor at odds of about 100 to
of being drowned, and brought in the
first graphic story of the loss of the
ocean liner, Oregon. 1t is the GUS
tom of New York dailies to send re-
porters down the bay to meet incom-
ing steamers, when it is known there
is big news" aboard On the ground
that it is better to be safe than sorry,
the editors dispatch reporters by
special permit on a Government rev.
enue cutter, or else on specially
chartered tug, with view to catch
ing their game before the ship docks
1t was known early one afternoon that
the North German Lloyd steamer
which had rescued the passengers of
the Inflated Oregon was not far out,
and every city editor in New York laid
plans for sending reporters out to
meet the incoming liner
Fielders was one of these. He man
aged to get aboard the big steamer
far down the bay and went among the
survivors of the Oregon disaster and
obtained some thrilling tales of es-
cape. He took notes enough to write
book about the sinking of the ship,
with minute details of heroic rescues
and plenty of what newspaper men
call human interest" stories. Then
time began to hang heavy on his
hands. 1t was getting late at night
and the ship had not yet passed Quar-
antine. To make matters worse, the
Captain said that he would allow no
one to leave a ship until she had
made. her way clear at Quarantine
Fielders vainly pleaded that he was
not passenger, and, therefore, was
not amenable TO the inspection of the
ship by the health officers. His re-
were unavaiIing. The
Captain was obdurate.
Ten o'clock came The city editor
of the Times paced nervously around
the night desk, repeatedly asking:
Where on earth is Fielders?" Out
there in the bay Fielders, wrought TO
a pitch of anger almost sufficient to
impel an assault upon the exacting
Captain, looked at the dimpiing stream
Of light from his tug as she lay out In
The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1906-08-03
NEGRO CUTS BABY
TEETH AT 1O2.
Proud Owner Happy as Though They
Were His First Set.

AUSTIN, Texas, July 29.-At the
age of one, hundred and two years, and
after being without tooth in his head
for more than quarter of a century,
Jack James, Familiarity known as "Un-
Gle Jackie" a well-known negro far
mer who has lived in the Garfield
ueighborhood since the war, is cut
ting a brand new set of teeth, and is
as happy as a baby learning to walk.
Constable Handy says Uncle Jacks
new teeth are the talk of the neigh
borhood, and that the people are loath
to believe it to be a fact until they
have visited the old negro and have
seen his teeth for themselves. Handy
says the teeth are just through, good,
and are small and sharp; very similar
to baby's teeth. All the upper teeth
are through and several of the lower
row. Uncle Jackie says he is salts
fed he viii have some new jaw teeth,
as he can already feel them.
Notwithstanding Jackie's extreme
old age, he fs not an invalid by any
means He Is mp and going most Of
the day, and when he gets his new
teeth he declares he will be as young
a. most negroes ct Afty.