davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1908-07-25
CHICAGO GRAIN AND PROVISIONS.

CHICAGO July 24-FIr7n cables and additional re-
ports ~ damage to the growing crop IN the North
west caused strength in the local wheat market to-
5sy. -he September delivery closing at a gain Of
II 70 * Corn and oats were each up &c. Pro
visions were down 12szc n 1714c
Te wheat market dtEpiaved the greatest strength h
e The DAY afser the opening. when prices ad
vsneed srDr0xiraatel 1e above the previous close
Shorts and c7rnnizsion houses were eager bidders
q he outset. and offerings for time meagre.
Tie chief reasons for the sharp upturn were the
strength q foreign markets and 2 hot wave
throughout the spring wheat country which re-
u7ed o6 -uu1ors of the wheat crop IN the DaSotas
dstsr1rarinE en account ~ droUth. Toward tne
END q the first hoElr trading IN the pit became
saers liberal which resulted in reaction from the
fop. Trade during the las OF the session was
rather quiet hut sentiment continued bullish
large primary re-eipts. however. tended To check
any fU-rher a6v1uce. The market closed firm
sspterb<~ opened &c 70 S4c higher a. S1-4c 70
s<e advanced - o7c and closed s12sc 70 9i1zc
csa-ances ~ wheat and -four equal tn 1s9 500
bushels Exports for the week as shown ny
B-sdst-eets were equal 70 25oo.o0o bushels Pri-
mary receipts were Io94 oOo bushels. compared with
13en bushels the corresponding day year ago
Minneapolis Duluth and Chicago reported receipts
q s cars against SEE cars last week and 81 cars
year ago.
TIE corn market showed decided strength early
= the session. along with wheat and oats. ana
also because - q Id advance at Liverpool Owing
70 tbs continued small movement and the hIaitea
s-aount ~ contract supplies IN store here, shorts
Tsre active bidders for the Septern Der deiiVerT
which resulted n forcing the price Of that option
- % T7c the hfEn point of the season Later the
market eased Of somewhat because Of the con-
ulusnce of IDEAL weather conditions for the new
crop The close vas steady. September opened sc
70 70 htghe- az 7sac 70 TsAsc advanced 10 7Ic ana
closed a. 7sssc Local receipts were AT cars. with
Of contract grade
Oats we're strong early In the day owing 70 an
active general demand, coupled with very light
ooerings. The September delivery was especially
srong and advanced 1c above yesterdays hnal
tg1-es Nearly ali the gain was lost later IN the
day OF liberal realizing by local holders The
eose, however was Arm September opened sc TO
c 70 nc % Ssa higher az sSsc 10 Sac sold UP 10
Sse and then declined 70 45l<c 10 $9sc Ifae close
vas az a., - 45lLc Local receipts were I01
Provisions were weak all day because OF general
pro15 taxing BY both local and outside longs At
he close September pork was or If7zc AT $40 o..
Lard vas down l21bc 70 15c az 3 %. Ribs were
2-9c lover AZ s. 70
Estimated receipts for ro-rnorrow; Wheat ~
Sarsi eorn- 1s cars; oats 10 cars; nogs A'"o
ssse
New-York tribune., 1908-07-25
FILE D. & Il. MORTGAGE
Loan of $50. 900 ,0OO-PLdas to Nod
ernise the System.
LRv Telegrara TO The Tribune ]

Wilkes Barre. Penn, July 24.-After fling mort
gage for S0000.000 in favor of the Farmers Loan
and Trust Company of New York at the Luzerne
County Court this afternoon the Delaware & Hud-
son Railroad announced that extensive improve
ments and purchases about TO be mace 10 moo
ernze the system. The entire trackase and rights
of way. together with subsidiary ana tease noio-
ings mertgaged raise money TO pay on three
mortgages by recalling the bonds and 10 gam
security for issues Of ~ per cent senl-annuaL
bonds amounting to s43 5o0.0o0. These are TO De
called first and refunding mortgage gold oohos the
first issue be dated May l. 1903. amounting to
s2s 0e0 interconvertihe and redeemahle at IA per
cent premium. maturing on May !, 1872 Ine three
mortgages recalled are s5e00oo0 in 1877. securing
per cent bonds matured on September l. 1901;
$500 600 in 1874 securing per cent bonds maturing
September I. 1924 and 81 100000 in 1897 securing
~ per cent bonds maturing March l. 1872
The Delaware & Hudson trackaSe TnoFt6ased eN-
tends from Plymouth. Penn, near here. to Rouse s
Point, the boundary line between New YORK
State and Canada It is thought that much or the
money raised will be used to electriIy Iohs poT-
tions of the road gain control OF third rail-
roads in the Delaware & Hudson territory sucn as
the Iackawanna & Wyoming Valley Railroad.
New-York tribune., 1908-07-25
WALKER In STEEL CAGE
Connecticut EmbezzIer's Trial to
Begin TODAY.
rBy Telegraph to The Tribune

Hartford, Conn. July 24-Two deputy shsr1ns.
who viii be relieved at intervals by two others. are
tonight sitting guard William r Walker. the
emeezzler who robbed the New Britain Savings
Bank Of than half million dollars, and who
IS sleeping. pretending to sleep. cot placed
in great steel cage in the Hartford County build
ing. Tomorrow at il a. he VIII be placed on
trial before Judge Milton H. Shumway, OF the
Hartford County Superior Court on charges and
counts sufficient should he be convicted. to hold
him in prison for several ordinary lifetimes
Walker, his way from Mexico. told the de-
tectives that he would plead guilty. When he was
seen by reporters he refused to tell what he had
done with the money. saying that he put 1t into
what he considered TO be good investment. his
Judgment being based on a long experience as a
successful banker Walker was poorly clad He
said that he alone responsible for the crime
he had committed The men to whom he gave the
money he met IN New York at three different
hotels. One OF these was the Fifth Avenue and
another the Belmont. He said he would not have
fought extradition but for fact that he did not
want bring additional trouble on his family and
relatives and had he had only himself 10 consider
he would gladly have returned without opposition
arrested
Walker absconded from New Britain February
Of the same year.
Walker had only 81 10 when arrested On the
trip East he stayed in his private compartment in
the Pullman until Springfield reached. The
only time he left the compartment was when he
the dining for meals. The Pullman
was run through without change.
New-York tribune., 1908-07-25
ROBERTS ON GUARANTEED DEPOSITS
Former Director of the Mint Sees Two Fatal
Defects in Proposed Plan.

Colorado Springs Col, July A-George E Rob
erts president OF the Commercial National Bank
Of Chicago and former Director of the Mint. ad-
dressed the bankers Of Colorado to-day. He dis
czIssed among other things the guarantee OF bank
deposits On this subject he said:
The first objection to the guarantee is that 1t
ignores the fundamental defect OF our currency
system. its rigfdity- There Is an actual need for
more money to handle the business OF this country
in the fall Of the year than in the other seasons
and the guarantee plan does not meet that demand
The advocates OF the guarantee plan recognize no
evil in the present situation but the evil of panic
when the is that panic IS simply the last stage
OF the disorder A panic marks the stage where
the system finally collapses but there is costly
strain which precedes the collapse and which does
not always come 10 collapse A panic comes only
once in ten 70 twenty years, but the strain and
cost OF our inexible currency system the curtalI-
grert of credits enhanced interest charges the
inadequate facilities for handling the business %
the country. the burden upon the producers or the
country-these come every year. and the guarantee
Of deposits offers remedy. Instead OF seeking
10 strengthen the banking system and PROVIDE me
means by which the banks may meet All cans
whether those or panic or OF
business this policy proposes that we continue 10
endure the annual evils OF the most inadequate
currency system In the world and coni1ne our
selves attempt to persuade the depositors not
10 call for their money.
The second objection 10 the guarantee OF ~
posits is il eliminates character as necessary
factor in the banking business. Under preseut
conditions the investments the personal hapltS the
general character and abilities of banker are n
the scrutiny OF the community. AFTER all alloW-
suce is made for occasional Instances in which the
n,Jblic has been deceived, who doubt thai TINS
Alert and interested public opinion has great IN
fiuence in maintaining proper STANDARDS OF ballAHi7
practice2
we cannot afford DO without that influence.
New-York tribune., 1908-07-25
MANY BUY G. p. BONDS.
Successful FIotdtion of Issue As-
sured-No Time Limit.

1t is understood that the applications for allot-
Inents of the Central Pacific first refunding mort
gage per cent bonds. which were placed on sale
yesterday morning by Kuhn. Loeb & Co. Speyer &
Co. and the National City Bank. are already more
than sufficient the successful hotstion of
the issue.
The bankers have made a slight change in the
method Of selling these bonds, as compared with
other ISSUES they have handled. in that there is
TO be no formal time for receiving or closing sub
scriptons. II being a Of first come. first
served" The bankers only reserve the right to
give preference to such persons or institutions
desire the bonds for investment
The last except of the twenty Central Pacific
notes 10 the government for construction OF its
road was paid yesterday These notes were for
S2s406S5 each. and by deposit with the
government of approximately $3.50 900 of the orig
inal issue Of first refunding mortgage bonds. For
each one paid the government surrenders TO the
company S2a41too Of the bonds, and under the pro-
vision Of the mortgage they can then be reissued
at the same lower rate of interest. The last
or these notes is due February l. 1903. and the
S2s4l,ooe first mortgage bonds securing II are in
clUded in the sls.eooeo0 just offered.
New-York tribune., 1908-07-25
HENRY CLEws SPEAKS IN PROVIDENCE
American Institute of Banking Opens Con
vention at Rhode Island City.

Providence. July 24.-HenTy Clews, OF New Xork9
was the chief speaker before the first session OF
the American Institute of Banking here to-day His
address was on the financial and trade situation,
and in part follows:
That recovery in the general trade of the coun-
Try is slow is shown by the still increasing amount
of idle money that is being sent TO the New 1orR
banks and trust companies by the banks else
where in order to earn the ~ or ? Per cent IN
ances Of their country bank depositors.
IS noteworthy. however, that the currency
drain to New York has increased since the passage
sign that the inland banks are now gaining conf
dence in their ability 10 replace when needed any
therefore. already exerting a good effect IN the
banking world.
The emergency measure IS simply 10 bridge over
until q permanent one is adopted by congress-
which should be scientific. sound and flexible so
z TO last without modification for a century at
least Then our financial system VII n0t on.
command the confidence Of our own people but
that Of all other nations besides.
terests of this country demand that the tariff
should be simplifed and gradually lowered, say
one schedule at time with six months notice Of
Importers 70 protect themselves sufficiently avoid
loss their previous inlportations
articles of general consumption would obviously
reduce the- living expenses of the people, which
discomfort of labor and labor's aversion and re-
Tlsa1 to accent a reduction Of wages TO correspond
with the general situation.
one Of the features Of the meeting arranged
for the afternoon session In a debate by teams
from Pfttsburg ard Chicago the question: Re
solved That all banks in New York City be
Quired to keep q larger cash reserve" the Pitts
burg bankers taking the affirmative and the Chi
caeoans the negative
The debate was won by the P1ttsburg team.
This evening was devoted TO an outing at Rocky
Point
New-York tribune., 1908-07-25
CAM FRANCISCO MINING STOCKS.
San Francisco. July 24-'rhe official closing quo
- for mining stocks to-day were as follows:
r.,aneEAn PRODUCE MARKET.

III, s1-rTosnE: wHEAT-spot. steady.
~, s9 Western winter Is T14d; No SanloTha'
No -. t,tpres closed steady July nominal; 7sptthoVl
ls ltH - eeccn,her Is 4l4d CORN-spot FIRM o!d
American mixed s5sd; futures closed stsaay Si SS
.snts,hsr 5s I'd FI1oUR-Winter patents a1Ii
ns ~ f0FS~At London tPaene Coas'l seaiy Al ISs
--CTvTCN SEED OIIl-f3uIl rehnsd spot trineI
u " 16l.s RF,FF-Extra India mess firm loos I'D
1s0BE5-Prtma mess strong ios 81 HA9s-Shor,
=, iR n firm A4s BACON-Cunberland cut,
81 70 s6 n steady. 45s. short rib. ID 70 - ~ STEADY
nidIes light - 10 - 10. urIn' los odf
80 80 - t7tidles heavy 35 to 10 nrm. iic; short
-. - ;6 10 - ~ steady. is. clear bellies IA to
- .4a SHOT i.DERS-Square. ii To l5 ID,
-asr Jas oil LARD-Prims Western. IN teIces stea ~
as a. american refined. in pals, steady, Us Sd
1.tyrf.sf- raradian finest white new steady. sTs cd
S,anaaian nnest colored new steady. bss. TAI4LOW-
Prime city steady, s7sI Australian In London rrns
New-York tribune., 1908-07-25
JOHN CLAFLIN FOR RATE INCREASE.
Better to Do That, He Says, than for Rail
roads to Reduce Wages.

John C1afin. head Of the II. 3. Clahin Company
and director IN many corporations. said yester-
day that he strongly in favor OF an advance
in freight rates. An increase of 10 per cent, he
said. would hurt nobody and would be Of great
assistance to the railroads. Only the small ship
pers, he said, against the advance.
Mr.. Clain who is the first large shipper 70 favor
higher rates, gave il his opinion that the rail-
roads had been badly treated. To advance rates,
he believes. would be much better than to lower
wages. Mr.. Clafn said:
Obviously the needed relief lies in advance
in freight rates In the last ten twenty years
these have remained practically stationary, while
the cost of everything else has gone up There is
room for the increase.
An advance of. say. 10 per cent. proposed,
would hurt nobody The amount It would add to
the cost Of all commodities would be tnhnitesirnal
On the other hand, cut in the wages of rail-
road employees would be attended by serious con-
sequences While nothing, humanity speaking,
could bring hack o this country the chaotic con-
ditions which existed six nine months ago. such
a step might arrest further improvement for some
time The moral effect would be very bad indeed
New-York tribune., 1908-07-25
rsAMsrAcIEIC MAILS
SHIPPING NEWS.
Port of New York, Friday, July "a, 1908.

ARRIVED.
--..-,.- A-anahoe t,embe Jacksonville July p and
-arI4st,r % - the CLYDE Co with passengers ana
dse Left ogaraRtins ar a II HF2 F2aseP m Bermuda July q
TO A E Outerbridge & Co with l6t passengers mails
steamer Mexico. knight, Vera Cruz July ie Pro
greso and Havana 2 TO the New 5 ao5A arc aaa Oa Ia
riTsd Hssd a. the Bar al II IS m
q S'ea56 en66b6 uf9s 1ne PORT SAID Is and Agiers July
via Delaware Breakwater % 70 Philip Ruprecht with
nsfe fssmsr Nels city CTri Barclay Bristol July
Swansea : 10 James ArkeI < 70 with mdse Arrived
stssmsr Prtneess Aane TaDley Newport News and
5o H0T9lk 9ss TO fr ,es 91a ara2tine an S5
Steamer Delaware French Phadelphia, TO the clyde
Steamer Yale. Grove Boston the metropolitan Ss
Co with passengers and mdse Passed in Quarantne at
s'tamc- Nerd America GtaD. Carbone. Genoa July !
81 cabin and 2sa steerase passengers and mdse Ar
steamer schonfes Ger, sehneider Calcutta May go
Colombo June : P9rt SAID June "a AgierS go PhLls-
with mdse. Arrived at ne Bar at
and Macoris IS, 70 Hugh Kelly Co. with sugar. Ar
rived al me Bar At : a m .,.-.- -, - -.
Southern Pacific Co with mdse Left Quarantine at 62s
70 the Ocean Ss Co. with passengers and ndse Left
steamer san Marcos Young Galveston July IS TO the
Mallory s. 60 with passengers and mdse- Anchored in
steamer celtic. from Liverpool Fire Island
steamer Prins wlIen III Dutch, Aaren,s Amsterdam,
ne ~ l. ~ A ,S 5. % RSs Jqg gS 10 ws, 3s u S %
passengers mails ard mdse Passed IN Sandy Hook al
s r. to @ f2 MSis sss .FO2e % 5 5q s a
and mdse South Of Fire Island Al ESQ ? m
SAILED.
Steamers Cumsal fBr, Valparaiso etc via Baltimore:
Burbo Bank Brl Newport News. Broadmsyne 1L3rl ca
Nsr 81 Jobn oFoH HushsndsH shs 1r Fernsbueo Rio
de Janeiro. etc: Carib, Wilmington. c. and George
New-York tribune., 1908-07-25
UDGE GROSSCUP'S TTEWS.
Discusses Presidents Statement on
Standard Oil Decision.

1ysrs Peter s. C5rosscup. one Of the three judges
:, the United States Court Of Appeals who re-
-s-ses the action Of Judge lands in ining the
Standard OF Company S2s .24o ooo was ar the Wal
s,-fssroris yesterday Judge Grosscup showed no
-,r-arce In discussing the statement Of President
p,--svelt favo-ing retrial of the case.
There Is no more reason said the Judge, why
sborl5 take notice of the comment OF Mr.. Roose-
rzlt thar would that Of any private citizen. for
-he ofce that he fills and the office that the
4u5ges of the Court Of Appeals Ill entirely in
dependent, though coordinate branches Of the gov
ernmert
IS 20 the powers of the President order re-
rial n Tia case Judge Grosscup said:
4F7is powers are simply those of any defeated
r-,esnt A. the representative Of the government
ne Executive can ask for reconsideration of the
case which has 7ust been decided adversely TO ne
e7vs--rnz1- h- the Court OF Appeals But no de-
-rsrd ca- ~ made as z matter OF right
Judge Grosscup said that the proportion of cases
n which writ Of certiorari was favorably acted
7,7e- WIS one n fifty. The case he said could not
oouae II again until the next session Of the court
f- October. The case would then probably take
precedence
Judge G-osscup seemed more interested in the
report from Chicago that he intended TO resign
hiE plaoz On the bench and take up the private
practice o. law
Ny plans have NOT changed" he said. 'since
;he last time denied that report. II do retire
fran the bench however. shall practise Law. and
ever see - 70 accept their cases. 7 shall never
rlaos nvseIf in a position where 7 should be the
hss6 mar oF any one man Or corporation -
The judge left New York yesterday for auto
mobile rour q The Berkshires and the White Noun
Ens
New-York tribune., 1908-07-25
John 4. souTHwlck DEAD.

Word was received from Colorado Springs, Col'
yesterday OF the death of ex-Alderman John II
Southwick who for upward OF thirteen years rep
resented the lst Ward in the Common Council
of yonkers The BODY will reach Yonkers Sunday
afternoon Mr. Southwick chief rate clerk for
the Rock Island Railroad Company IN its New
York Offices His only living relative Is ex-Con-
gresham George Southwfck, CT Albany. He was
born in New York forty-one years ago. but had
lived in Yonkers most Of his life. Before starting
for Colorado he arranged with a local undertaken
70 take charge of his funeral. The body will lie in
state in the Common Council chamber IN Honkers
until Monday afternoon, when the funeral services
will he held in ST Andrews Episcopal Church
The Masons and Elks will have charge.
New-York tribune., 1908-07-25

Cherbours- Jaiy 23-Eaise-in Victoria (Garl
HAMBURG
HaVre. tFF1 YORK
32-pTins (Dutch1. vorsr
West fnoies. Venezuela and Havre
Otaru. July 23-IndrapuTa Brl New Aden Hong
Kong. Shanghai. etc.
Rotterdam July 2s-RyRdsm CDGtoh,. Ne~ York ia.
Boulogne
s. Vincent, Y July i2-Maria Porn New FORK
Hamburg. July 22-PToTstheus (fsri. New York
SAILED.
Naples. july 23-L1suFia Utah. New YORK.
Queenstown July 2+-Betc (Br) (rron Liverrcoll Nsv
York.
Alicante July I+-FeFt CtsD GfrOa Genoa 5cssOn
scilIy July s&-Prinzsss Ns~ York Cor pfyus
outh. Che-houFg and Bremea-
PASSED.
PanteIara July e4-Bloemfonrsin CBrl. New York for
Malta and Yokohama
Anisr. July 2a-v0Lx4 CBrl. New 1s-k via DURAN -
HAcho~.
New-York tribune., 1908-07-25
pnNAPARTE ON OIL CASE
nsao-fment,s Duty to Foster Fear
= Punishment Among La1cbredkers.

Mass July 24-Attorney General
- Ronaparte. who is at the Hotel Aspin-
O". : 49, to-day made the following statement
-, reference TO the opinion of the United
- -. court of Appeal reversing the decision
:. ,-,sre Lands in imposing fine Of 29.24o,ooo
. 80 standard oil Company:
.-e read the opinion. II was sent TO me
= r--ited states Attorney soon as issued
o NiS.-,-,en+ hy me the action oi the Court
AZ AZ -eals would be. il my judgment, inappro-
q - rsneciallv since in some form and at
pI'o. ..--,a in the near future the Department
SOIL 5s-5re VIII undoubtedly try 10 obtain an
q sSs-fra-fze review Of the decision II is much
81. 1-sgretted that owing TO the unreasonable
res - anpeai bv the United States in criminal
fe +his cannot be done in what is obviously
c.. - natural most prompt and most effect
q. -s-F,o6-nanaely. by direct appeal to the
lea.a-,a %. Court Of the United States. Since
80 s. the present condition of the law. the
suoL L-.--.7- must adapt fits course Of action to
osl3' -o751+ion In my opinion il is Of vital
lNo-- lNa- rhat the statute regulating interstate
1890 should be so construed by our courts
-. = NAV not be practically impossible TO
.o-vicr t,vbreaBers on vast scale nor practi-
con- con, Si-noesihle to punish them when convicted
oz.s .s s,74HCient severity to assure future obe-
dien.s 81, = Is the duty of my department to
- wholesome fear OF punishment among
80 ,f-en and strongly tempted TO do what the
e nest and viii try in the future To faith
- discharge this duty Such well coTsid-
- measures VIII therefore be adopted. after
= 5eIfberatiou and conference, as VIII far
= --sc:fcebie remove any possible danger
L:ch -7sv ne thought 10 exist lest the present
e. frnpediruent 10 effective administration of
-bese salura-y laws
New-York tribune., 1908-07-25
WANTS PRESENT RATES CONTINUED.
Manufacturers Association Argues That
Freight Charges Shouldn't Be Increased

The Manufacturers Association of New York has
sent out to commercial organizations all over the
country invitation 10 combine and convince the
railroads the public that there is need TO in
crease freight rates reduce rhe wages of rail-
road employees this year. The reason for the com
munication is the associations opposition 20 pro-
posed 10 per raise in freight charges by roads
east OF the Mississippi and north of the Ohio and
Potomac rivers. TO go into effect December !,
1903.
The associations influence the letter says, is
intended to be just for the protection and pro
motion of tne commerce Of New York In a let
ter 10 the association the senior vice-presdent
of the New York Central & Hudson River Railroad
he is quoted saying that he thinks the question
Of freight rates and their effect on the price OF
commodities is not very accurately known"
New-York tribune., 1908-07-25
BUSINESS TROUBLES.
The petitions in bankruptcy fled in the United
States District Court yesterday were as follows:

Involuntary. against the GiIliss Press al No 14l
East 25th street, by William /. Merry hienle &
Co and the De Boise Rresnan Company, whose
claims Tor goods furnished aggregate $o2Z OIL The
petition states that July 10 the alleged bankrupt
company made general assignment To A. n
Palmer. Henry B. Ketchum was appointed re-
ceiver
Involuntary against William Tannebaum dealer
in butter. eggs and groceries at No. ll0l Third
avenue, by Allan, F Cook and others. with claims
for goods furnished amounting To $l.eoi 40; Inc
Of his stock Austin Nichols & Co. and x. .
Williams & CO. Albert ,Falck was appointed re
ceiver.
Involuntary against the F1eischer Press, at No 40
Crosby street. by Joseph Weinstein, William Gel
and Jacob SlatZky, holders OF assigned claims
which foot up 10 1898 The petition states that on
June ! an assignment Of the business was made TO
Conn appointed receiver. with a bond OF Sl.UoV.
The assets estimated at $4,000. and consist OF
presses and outstanding accounts
Walter 3. Allen appointed receiver OF the
business Of Harry Feller real estate dealer and
contractor Of Clinton and lSlst street, The
Bronx with bond OF 81. 600 The petition states
that Feller also had interest in live poultry
business in The Bronx, and that he conveyed real
estate mortgaged for s32.5O0 TO Phoebe Elkan for
a nominal OF money.
Schedules Of Israel n. Cohen dealer In men
furnishings at Ne. s25 Bowery, show liabilities Of
s1s.s5S u and Of s51o6 So The latter include
stock TO the amount OF $3.50 and deposits in the
Second National Bani., Fifth avenue and 2sth
street, to the amount Of s74s S..