davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
BALTIMORE STOCKS.
FURNISHED by Van sehaiok s. Co. No, Wall stre.t)
TRADE IN CHICAGO.
TBy Telegraph TO The Tribune. )

TBy Telegraph 70 The Tribune.l
Chicago. April 2o.-The foundations OF the bull
wheat market were undermined to-day by the bene-
fits 10 the crop Of the Southwest that the specu-
lators supposed had been done by the two days OF
showers in that region. At the close the prices of
May and July We're each tsQzZc lower. Corn lost
from &c TO &c. May oats gained &c. July &c, and
September lost Ease. The provision market was
In line with the others
Local wheat receipts were 60 cars. Last year on
The same date cars We're received Shipments
from Chicago were 900 bushels May wheat
closed 75s 17575c, as against 1870 at close yes
te1day July closed at S15zg87sc. as compared with
&l.c
Rain with the indication that It TO be fol
lowed by warmer weather. gave the market for
corn weak start Local receipts 276 cars,
and shipments 49, 90 bushels. Estimate OF to-
morrow's receipts was 1o1 cars. May closed at
S1zc as against yesterdays closing price Of 50l4c
July closed st z3Izc a decline Of &c.
The reasons for weakness in the other grains at
the opening We're as well applicable to the condi-
tons in the oats market Local receipts were
heavy, and the shipments only of moderate volume
Estimate Of to-morrows local receipts was 123
May oats closed at 45lgc. as compared with 44z4c
A7c
The market for the hog products was quiet and
easier Lower prices we're chiefly the result of tho
liberal hog receipts. although the latter not
much different from the similar days run last
year Estimate Of to-morrows local run of hogs
was 51c0 head. May pork closed at SIS 30. a loss
OF DC. May lard closed at s. 5712. decline Of 90
May ribs at close were $3.50 as against s. 521A
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
ERIE'S BIG EARNINGS.

The Erie Railroad earnings continue TO increase
and there IS no reason 10 doubt that this fiscal
year VIII give the largest gross and probably net
earnings IN the companys history For the year
ended June 30 1906 the gross reached $50o000o0 and
the net 81 e57.o00 OF which 50 10000 paid out
for interest and rentals Si926.cOO expended
for improvements. s. 555 600 dividends first and
second preferred stock, leaving balance TO profit
and loss OF s534O01 For the nine months this year
the gross has increased 2 600 and the net $53541
The cost Of operation largely increased by the
Severe winter and 4 general wage advance The
weather conditions bad in February and
March. IN February, 1906. but $500 spent in
removing snow and ice, while in February. 1907,
the cost 5000.
The earnings for April will probably be 100000
or $4,000 IN excess Of the month of the pre-
cecing year, there was a suspension pf mining
In the anthracite region at this time last year.
Thus far this year the company has expended on
improvements out Of earnings 600 and is con-
tAuing this policy. The Erie suspended work on
new lines for the that the market would
not take its bonds at what its directors Neemed
they were worth. The Erie IS doing more business
man eyer before and good showing for the fiscal
year is assured by the earnings in sight. The
March statement Of earnings shows a substantial
Increase the period of the previous year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
ArchlsoN BOND SYNDICATE

II was reported In Wall Street yesterday that
negotiations under way to have a syndicate
headed by Kuhn. Loeb & Co.. take SOS. 900 900 per
cent convertible Atchison Topeka & Santa Fe
bonds part OF the s9S.OOO.0cO already authorized
by the stockholders Interests identified with the
company and with Kuhn Loeb & Co. would not
discuss the report. but 1t appeared be sufficiently
circumstantial to be accepted by the Stock Ex-
change community.
In December. 1906 il announced that a block
OF the bonds. probably S25. 200 900, would offered
to the stockholders at an early date. but IN the
time monetary conditions became decidedly
unfavorable and the directors decided to hold the
offering In absyancs until material improvement
could be noted.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
WINSL0W, LAHIER & CO.,
SO CEDAR STREET.
NEW YORK,

THE FOLLoWING COUPONS AND DIVIDENDS
ARE PAYABLE At OUR BANKING HOUSE ON
AND AFTER ~
MAY IST. 1907.
American cotton on Company. DebeuturA aus
Cleveland and Pittsburgh r. r. Co. General Mortgage
3i2S 'e9
Cambridge city. Ind. Water Works and Street I'm
pruvcmeut Bonds "
Counersvillc. Ind. School IS.
Greenfield Ind. school
Massilen and Cleveland r. r. co. Dividend Pc quar-
Marion Ind. School IS
Series b 800 '.''
Niagara Falls Power Co. Canadian Collateral Deb go
MtEc - Series e"
Pittsburgh Ft WAYNE and Chicago Railway Co. I'd
MtCe -. Series 49,
Portsmouth. Ohio Water Works IS
Rushville Ind. Water Works Gs
Starke County Ind Court House
MAY I2TH.
Portsmouth Ohio. city building IS
MAY 18TH.
Dearborn County. Ind. Funding IS
Posey County. Indiana. Gravel Road
Starcc County, Indiana. Gravel
owen County, Indiana. Gravel Road
MAY 2IST.
Marion County. Ind. Refunding 3'as
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
Financial Financial
PLAN FOR THE ACQUISITION
Shares of the Common Capital Stock
First Mortgage Five Per Cent Bonds
HAVANA CENTRAL r. r. COMPANY
Financial.

the OF the
~,
the holders
al
70
The Proposal
therein
The Proposal
be witt
o NJ o
then the Proposal shall
il OF
n
o ant FRS MOrtg
a II
the United
o be an n
o IN
o
herend
be
received on deposit unless in negotiable
May Stkm
n ,anddul
This Plan o the which
dposors dtobe bound
and the
o'clock F. o the NIersJ
der & No eanlau
Messs 6 York;, Bank
a a Havana Cuba.
j. HENRY SCHROEDER & co.
Referring on eha Of
Mess
called for and nd tndt
30
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
MAY OPPOSE NEBRASKA 2-cgNT LAW.

Lincoln, ;Seb.. April go letter from Union
Pacific headquarters to the State Railway Com
mission to-day intiTnates that the Nebraska rail-
roads contemplate resistance 10 the 2-cent passen-
ger fare law The letter is in to an inquiry
IRON the commission asking why Nebraska patrons
~ not receive the benefit OF the 2-cent rate on in
,sfstate travel IL reply the Union Pacific says
set TIE lawyers for that line and others seri-
-s fitg alsDosed 70 unite IN suit attacking the
rss,elty OF the law and that it is tnadyisable TO
- angs It's interstate passenger schedules until
40 1-esit fare laws 81 Iowa and Missouri take
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
UNITED COPPER COMPANY

The directors Of the United Copper Company have de-
cared the regular annual dividend per
$50 the preferred stock payable May u. 1907.
stockholders the close OF business 10
1907 OF the funds previously aside pur
pose at the meeting held December 90 1906 The pre-
fered stock books of the Company the
payment of this dividend three o'clock T. NJ May 10
1907, AMI reopen 10 o'clock a. NJ. May 10. 1907
stanley Clifford Treasurer.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
LONG ISLAND.
law "COPPER" RANGE SUIT WAS SETTLED.

Boston April s0.-That it was a payment Of
$40 900 which settled s20ooOO0 suit OF the Cop
ner Range Mining Company against Albert Z. Bur
rage after il came TO trial last week. became
i,,as,y,, day in connection with the publication
Of The annual report of William A Paine president
OF the Copper Range Company, when s'A NJ p
"a re had been settled by he payment OF $4,000 BY
Mr. Burrage.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01

Of tie principal cities of this country It IS stated
that the prime object Of this bank is to
e. luce number of important industrial projects
ia Northern Mexico. One of these the prelm-
mary details Of which have been already agreed
upon. IS the construction Of great dam across
the AIazas River in the Laguna cotton growing
district, for the purpose OF furnishing water sup
ply for iTrigatng an enormous body OF valley
land.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
Financial Meetin gs,

CANADA SOUTHERN RAILWAY co.
The transfer books of this Company will be closed at
i2 o'clock Saturday May 4h. 1907 preparatory
general meeting the shareholders
held Thomas Ont. 9th. will be Teopened
Thursday, June 9th. 1907.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
CLEVELAND s. PITTSBURGH r. II. co.

Office OF the Treasurer.
Cleveland. o., =,
DIVIDEND NOTICE.--The regular quarterly dvi-
dend q per cent. upon the Original Guaranteed
stock and per upon the Special Guaranteed
stock of this Company. payable June 1907.
VIII be paid and after that date the office of
Mcss-s. Winslow, Lanier Co. No. 30 Cedar Street.
city TO Stockholders OF record the close
J. E. KLoss. Treasurer.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
SllrrogQtes' Notices.

n PURSTANCE OF An ORDER OF HON, AMER =
IL Thomas. Surrogate OF the County OF View ~fors
notice hereby given all persons havinE claims
against W. Love- late of the County Of New YORK
deceased the with vouchers thereof 20
subscribers their place Of transacns business
No 40 Exchange Place. City OF New York. ON or
before 25th day OF September next
Dated New York. the 2oth day OF March, 1907
JULIA NJ. LOVE. JOHN BAN. Jr-. Administrators
WISE rIC1ITENSTEIN. for Administrators.
- Gn.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01

THE AMERICAN EXCHANGE NATIONAL BANK.
12s Broadway. New York. April 23rd 1907
At a meeting OF Board of Directors OF this Bank.
to-day. semi-annual dividend Of FIVE $50 PER
CENT. the capital stock declared, payable May
stockholders OF at close of bust
nsss April 2Srd 1907.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
PENNSYLVANIA.

For month of March 1907, and for three months
ended March 81, 1897 with periods OF 1906:
PENNSYLVANIA RAILROAD COMPANY.
dimes directly operated)
Month of ended
March 1907 Mich 81, 1907.
,.ross .srninrs .... Inc. $685. 700 81 S45. roo
ITenses ............ Inc. / 100 100 Inc 2S12. 800
~. earnings . Dec s464 400 Dec 5000 900
PM .DET PIITA BALTIMORE & WASHINGTON
,.. .orriroe - Inc sos 200 Inc. $226, 400
ftr1arses ........... Inc. 1872 500 Inc 455,S0O
earnings Dec, Tst:%1o DsI TIL9'7oo
50. nar,Ii,ns 49,. Inc S44 200 $3.50, 600
Expenses inc ~ iUo AHc' "if'"Vo
Net earnings Dec $lo1OV bsS 800
WEST JERSEY e. SEASHORE RAILROAD CoMPAN1:
Gross earnings Inc. S5s60o Inc SSie90
Ne, earnings ...........Dec S44. 400 Dec k2sS,0Oo
Zines west Of Pittsburg Erie. directly operated2
Cross earnings Inc. S47I2Oo 1oO
Expenses ~'-''VV --S'
Net earnings Ino s2oasoo Inc %i%'''"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01

IIALSTED HAGEMEYEH Il BROADWAY. NEW
4 Il York. April so Ia0T.-Te beg that
Mr.. ]. Harold KuukeI has this day Withdrawn from
HALSTED & HAGEMEYER-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01
MINING STOCKS.

200, 400 Total rales.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01

THE FOLLOWING COUPONS AND DIVIDENDS
ARE PAYABLE At OUR BANKING HOUSE ON
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-01

s.7Oo Total sales.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-25
NAYAL EXPANSION.

Writing in "Appleton's Magazine" Of the naval
expansion of the great powers which, he thinks.
"are navy mad.' Mr.. W. G. FitzGerald remarks
that Great Britain's navy costs her tho vast
sum OF S2OOOOOOOO a year, and this is increas-
ling by leaps and bounds" 1t will be of inter-
est to see just bow great those leaps and
bounds" are according to official figures.
The latest return CT the British Admiralty,
which has just reached us, shows that the great
est expenditure in any one year on the British
navy was SlS4 EOS, 4O5. In 19O4-O5 which was an
increase OF about $5,JOOOOO over that for the
preceding year. For the succeeding year. 1905
OG, the sum is estimated at only S166, .OOO-a
marked decrease instead of an increase. Turn
ing 10 "Whltakers Almanack" to supplement the
Admiralty return, we find that the estimates for
1SO6O7 are only Sl59,347, 200, showing another
marked decrease. Instead Of saying the British
navy bill was S20O,OO0,OOO a year and was in
creasing by leaps and bounds, Mr.. FitzGerald
should have said it was about S1GOyOOOOOO a
year and was decreasing With those changes
his statement would have been quite correct
Undoubtedly, however, there has been large
Increase in British naval expenditures in the
last ten years. Thus the return quoted shows
them 10 have been only Sill, 3j9.5lO I'm 1867
or S0S,JSS,49O less than they were ten years
later That was an increase OF nearly 80 per
cent In ten years. But what were other nations
""i"6 iHe'A"Hiie: Russia IN those same ten
years increased her naval expenditures from
S29.765,00O TO SCI 1868 600, or more than los per
! cent; and Germany increased hers from SOL,
o64.OoO 10 $56,J08,OO0. or 102 per cent More
over, these two powers are steadily increasing
their expenditures their appropriations in the
last year cited being the largest on record.
Again, il is 10 be observed that the aggregate
net Tonnage Of the British mercantile marine is
about l2l56,o00, and thas it carries yearly
commerce valued at nearly $7,5OOOOOOOO II
the navy be regarded merely as the protector Of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-25

as bie a iob for Newark as the latter would be
for New York, excepting. perhaps, that the geo.
graphical situation OF Newark is more favor
able.
It may he that this example Of Newark Win
never be followed by New York, or by Phlladel-
phla or Boston. or any other great udeWater
CITY. though we should not be too positive on
that noInt. But certainly 1t could, and we be-
lleve II should. be followed by many other
cities smaller than Newark and so much fur
ibar inland as 10 cause pollution of longer
,aac, of river If Newark and Paterson can
redeem the lower Passaic from pollution ana
reckon II profitable to do so, surely similar
work might be done by cities on such rivers as
tho Hudson ana Connecticut and Delaware, SO
that fish may he taken and Ice may be cut along
those streams without danger or typhoid ana
so that residence on their banks and Doatlng
on their waters may again be agreeable TO All
the senses That is not to say that no DRAINAGE
az all shall enter the rivers hut merely that the
sewage shall be so treated that all It's solid con-
tents shall be withheld for the industrial pur-
noses for which they are valuable, and only the
limnid ana innocuous residue be permitted to
flow into the streams.
In lust one respect the example Of Newark
and Paterson is faulty-namely, In proposing
not 10 purify the sewage. but merely TO divert
it from the river and TO let 1T flow in its crude
state into other and more remote waters. VI
course. they might have done still worse. They
might have emulated the example Of our West
chester county neighbors and have pumped their
sewage across country into the Hudson River
for the further deIectation of New York-which
they would have had as good right to do rs
White Plains and Mount Vernon have From
that. however, they refrained and we venture to
expect-certainly TO hope-that before their
great work is completed they will so modify it
as to provide for rendering works, which will
remove from the sewage all its solid, offensive
and noxious constituents before 1t is poured into
the narrow waters of that Achtur which we
have misnamed the Arthur Kill. When that is
done the worst polluted river in America will
present an enlightened example well worthy Of
general emulation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-25
PERSONAL.

In order that sick children of Providence. r. T..
may have the benefit Of fresh air and sunshine IN
the summer months Mrs. Ammo Crawford Allen
Brown, widow of John Carter Brown, has given to
the Rhode Island Hospital her country home at
uidnesset Inc pIopfTtS consists Oh 2 ID S pies G
value OF the gift is estimated at $4,000.
The only English woman admitted by royal de-
cree in recent years TO any Of the ancient orders
Of chivalry is Queen Alexandra. who is Lady Of
the Garter As such her Majesty wears the broad
ribbon of the Garter the left shoulder on
state occasions. the upon the left shoulder and
when the Garter Is worn at all IL Is claSDed upon
the left arm.
Professor Gaetano LAMA. head Of the mechanical
department Of the Boston School OF Technology,
has been knighted by King Victor Emanuel III
of Italy. Professor LAMA was born in Boston in
1875 appointed instructor in the Institute OF
Technology In 1872 and became professor In the
engineering department in 1SSS
General e. p Alexander. with whom the only
living ex-PresIdent shoots ducks down in South
Carolina. distinguished himself at West Point and
IN lSG5-Appomattox year-was General Robert T.
Lees chief OF engineers.
Allan L. McDermott who represented the 10Th
New Jersey District in the last Congress. has re-
tired from public life He is OF the best known
Democrats in New Jersey. and has held many pub
lie offices in that state. Perhaps the most disap-
pointing incident in 1Ir. McDernott's long career
occurred in Jersey City some years ago, when he
was candidate for Mayor. The city was over
whelmingly Democratic. and so certain was Mr..
%cDermott Of election that he had a friendly
Democratic Legislature increase the OF Office
from two TO five years. Public sentiment changed,
however. and Mr.. McDermOtt's Republican OpDo-
nent was elected.
Tom Thumb Orchard Garnsey). the dwarf
once SO often and well known. died recently
at Wellington. Somerset. England. aged seventy
three years.
Dr. J. II. White. the Unted States Marine Hos
p!tal officer. who directed the campaign which
stamped out yellow fever IN New Orleans In IoC5,
has received his appointment supervising In
spector OF maritime quarantine IN louisiana Mis-
sissppl and the Central American fruit ports from
surgeon General WyInau, OF the Marine HOsnitaI
service. His appointment is q step in establishing
the national quarantine IN Louisiana, supplanting
the state system
The King Of England is publisher He has the
exclusive right TO issue mariners charts and Eng
lish mariners forbidden by the law 70 use any
charts but his The copyright OF these royal
charts. furthermore. never runs out
Robert Shields. a banker OF Ncenah. Wis, who
recently started on his eight-frst year, drove the
hrst survey stake FOR the first railway IN WIscon-
sin That was IN the fall OF 1s4s and the line was
the Milwaukee, < WaulIesha, out OF which the Chf-
cago, milwaukee, * St. Paul Railroad grew.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-25
A NEW gERsEY EYAmPLE.

The state Of the Passaic River below where its
Great Falls used 10 be has long been so vile
and there have been so much wrangling hag-
Cling. recriminatlOn and delay Cor so many
years between the two cities Of Newark and
Paterson. that It is now difficult to realize that
the long desired settlement has been effected
and plan for the speedy redemption OF that
river has been adopted. Yet such is, indeed, the
case. The Legislature has voted ana the Gov
ernor has signed an act providing for the absO.
lutte exclusion Of all sewage from the Passaic
The work is to be completed in a few years and
then that river will Tow pure again. so that
fsh can live IN IL ana people can battle in it.
50 boating on It and live close TO its banks
The change viii be an amazing one, but 1t will
be highly bene6cent one, and dozen years
hence people will be wondering how It was
that Cor 50 many years the river was permitted
70 be made into an open sewer OF the foulest
type.
The chief significance OF the matter is that
there, for the first time in the history OF this
country, large city is to dispose OF its sewage
Otherwise than by pouring it into the nearest
water- Several still larger cities In other coun-
tries did 1t long ago and found It both prac-
tleable and profitable. but hitherto American
cities have affected 10 regard such proposal
rs guile visionary. Newark. however. now de-
fermines 10 do II. OF course. Newark Is not
one OF our largest cities. Bat il has a popula-
iion. We believe, OF considerably more than
three hundred thousand, and is thus half as
large as Boston or St Louis, and its enormous
manufacturing establishments give II a volume
az sewage much larger proportionately than
that OF most other cities. 1t has a frontage OF
several miles upon a large tidal river, into
which all us sewers have thus far been made
- empty as matter OF course, just as those
81 New York empty into the North and the East
rivers. 1et now Il Is positively determined
within the next three or four years 90 remodel
tie whole system, 50 that not a sewer shall open
Ito the river and 80 that none Of the drainage
% the city. surface or subterranean shall enter
the river. ~ Is an undertaking actually com
parable with that OF turning the sewage Of New
York away from Tie North and East rivers
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-25
AMMseR1entS.


ACADEMY OF MUEIC-s-Ben-Hur.
ALHA2II3FA-e--s-Nau devlne.
AeTOR-s .2O-The Mills OF the Gods.
pFT.h SECS -IB-lThe Rose OF the Rancho.
BFRKELEY NEUTRALITY-SUSPICIOUS. RECKONING
BIJOI;-s:I5- T5edda Gabier.
BROADWAY :1O--The Partisan Model
CASINOS :lB--7he White Hen.
COLONIAL
ssRTTERION-s 1.-THE TRttooed Man
yoAI.Y's-9:15-Tle Belle OF Mayfair
EDEN lTCSEE-The World n wax
JeRFFDTH.-g .8O-The SILVER Box
GARDEN-s 2 g. veryTnan.
ssARRICK-s-30 --Caught !n the Rain
TIACWETT-S:30-The Chorus Lady. ,-z.,,,,
fFAlIlIERBTEIN'S VIcTORlA-2;4o- 'i'1@
yFRAITO SQUARES: 16--The Road 20 1estera9y. -
PPODROME-2-S-Neptune Daughter anu Ei0N~e4
oN-s:15-BneWster's Millions. --,-.,..,.-
IRVING NEUTRALITY-SUSPICIOUS. ana Luln A-lnbleuAef'
ACKNOWLEDGEMENTS --Ihe hso MIL
TTBEETT-S-l5-SGlomy Jane 49,.
sY-FI- -I.ecture-s:15-Th Lion ana the Mouse
N.Y-RIC-S:1 5-Othello ,-,
MADISON SQUARE GAFDEA-z-e-ClH
MADISON SouARE-5:ls--Ine TIRES O -
NfAgEgTIC-S :I5-The Tourists
sFAEHATTAN-s l5-Mrs Warren 2 FFc1e s 49,,
sTANTIATTAhs OPERA HOUSE-e:4a--La Soneslass
aFETROPOLTTAN OPERA HOUSE, 80 ~
osATIOSAL ACADEMY OF DESIGN 70 % 10 "
KEN AwsTERD A1E-s:l5-The Grand Iogul
scFW TORK-S:15-The Squaw Man
rRTNCEgS-s:2 0-The Great Divide.
eATOT-s-s 15--Ihe Man OF the Hour.
ST. NICHOLAS RENK-Ice Skating
VAIIACK'6-g15-The Rich Nj Eogg
WEBER SIS; 15-Dream city ana ire Al4elo -s
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-25

Of village life. except as an external adorn-
ment to the general appearance OF the village
This Chicago suggestion is great contribu-
ton to the art of giving. The time may arrive
as the field becomes exhausted when men will
welcome new idea in benevolence as heartily
as they welcome new idea IN philosophy or
science We can even conceive that they will
he driven 10 eccentrictles in giving, in order to
avoid modes of benevOlence as hackneyed and
unscientffc as it now is TO give hungry man
dinner without inquiring into his history, char
Rcter and antecedents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-25

the mercantile marine, then the vast sum" OF
the navy bill is only about two and two-tenths
per cent insurance premium. Reckoned on the
same basis, Germany pays 10.5 per cent and
Russia a still higher rate. The arithmetical
view of the case does not, therefore, show the
British naval establishment to be quite as over
bloated as it would appear from the rhetorical
Dont of view.