Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-10
PAINTS AT BANQUET
WHILE NEUTRALITY-SUSPICIOUS.
F. B. KELLOGG CoLLAPsES.

NEW YORK, December 1O.-Frank B.
Kellogg. the deputy United States attor.
| ney general representing the government
in the suit to dissolve the Standard Com
pany. tainted in the midst of. defense OF
the Roosevelt administration at the Min
nesota Society's dinner at the Waldorf
Astoria last night and had to be carried
out of the room by four of the. guests. He
received immediate attention from the
hotel physician. and a quarter of an hour
afterward had recovered sufficiently to ex-
plain that his fainting was only fit OF
giddiness induced by acute Indigestion.
The trouble. he said, was of temporary
nature and not at all serious.
Mr.. Kelloggs defense of the President
was received In absolute silence.
In this country" he said, there Is a
certain little district or province called
Wall street-why, 1 don't know, for the
wall has never been any insurmountable
barrier to the lamb that wished to vault
It. illustrating the attitude which the
denizens of this little district have taken
toward the late panic and its causes, am
moved to tell the story of the argument
OF Wall street man and the language re-
former over the words catastrophe and
calamity. The language reformer insist
ed that they were synonymous and wanted
to cut one or the other out of the Ian
guage. The Wall street man couldn't see
1t and offered this illustration by way of
rebuttal:
Wall Street View of Roosevelt.
Suppose the President of the United
States stood on cliff and fell over;
that's a catastrophe. Suppose somebody
rescued him; that's a calamity.
"And that's the Wall street view of
Roosevelt and of the genesis Of the recent
panic. But want to say that this coun-
try is prosperous
Here Mr.. Kellogg became pale and
swayed upon his feet, but continued
speaking. although his sentences ranbled
THE Indications he continued, ARE
that it is not the fault of any policies of
this administration that we are not pros
porous today. The cause of this panic is
not in the laws We have in the last
twenty years expanded beyond our dreams
or expectations. In the growth of the
west it has resulted that we have come
to believe that there is no end to our ex-
pansion.
Speculative Expansion.
when we come to the sober second
thought, when we stop and remember
that securities worth a few years ago but
500 have grown to 5000 or $500. we realize
that 1t is not laws but speculative ex-
of that was the cause of the stop in the
progress of settling down to a reasonable
and sound basis
At the conclusion of this sentence Mr..
Kellogg paused full moment. then con-
tinued, though obviously with an effort:
I'm the administration Of Roosevelt we
have had some things to criticise.''
Finding himself unable to go on, Mr..
Kellogg said:
Pardon me, gentlemen, 1 am not very
we'll. 1 wasn't feeling we'll when came
here" and sat down. He slid out of his
seat and would have struck the floor had
he not been caught by friends. two Of
whom were Timothy Byrnes. vice presi-
dent of the New Haven road, and H. B.
Stickney, president Of the Great Western.
Stickney on the Panic.
After Mr.. Kelloggs departure President
Stickney gave his ideas on the panic. He
had good deal to say about "cunningly
worded editorials against the admins
tration which he thought had been dis
seminating a subconscious feeling of I'M
rest among the country bankers. In illus
tration of this feeling of uneasiness he
told of one little country banker in Min.
nesota who never needed more than 1900
or 5000 currency to do business with, but
who got more and more panicky until he
tent of $4,000. This he kept In little
tin box of safe with dog and a man
to watch it. sir. and now I'm safe!'
This sort of panic concluded Presi-
dent Stickney, won't be remedied by is-
suing emergency currency. 1t will only
prevent currency from becoming clogged
when at the extremities of the circulat-
ing system" This was received with
great applause.