davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-09

Start For Philippines.
Lieut.. William A DaIlam. Twelfth
Cavalry. and Mrs. DalIam, daughter Of
Mr.. and Mrs. Donald Mclean, have
started for the Philippines, where Lieu,
tenant Dallam will be stationed az Fort
Mckinley.
| Mr.. and Mrs. Mclean and Miss Emily
Mclean will spend the summer in the
North Woods.
| Mr.. and Mrs. w. w. Finley, of Wash
/ ington, who are spending the summer
at the Louisburg, Bar Harbor, have
/ as their guests for a few weeks. Mr.
| and Mrs. Frederick A. DePeyster, Of
New York.
Mrs. Benjamin Harrison wife of the
| late President Hartman, of Indianap-
oils. with her daughter, Miss Elizabeth
/ Harrison, is at Berkeley Lodge, her
place IN Second Lake. Fulton Chain.
/ N Y.
| Mrs. Frank o. Lowden. wife of Rep
| resentative LOwden, who is spending the
! sumner at the Virginia Hot Springs,
| will soon so to Long Branch, n. J., for
la visit TO her mother, Mrs. George NJ.
| Pullman, at the latter's summer home.
Mrs. Grafton Tyler. jr.. left Washing
| ton yesterday for North Garden, Va,
4 for the summer.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-09
To Visit Secretary Knox.

To Visit Secretary Knox.
The newly appointed Governor o
Alaska and Mrs. Walter Z. Clarke ex
pect to leave Washington the last o
the month for Valley Forge. Pa, wher,
they Will be the guests Of the Score
tary Of State and Mrs. Knox. Late
they will go to New London, Conn, 70
short visit, making the trip by auto
mobile
New-York tribune., 1909-12-18
CHARGE LAND FRAUD.
alleged in acquisition of COL
OrddO Coal PrODertu

Denver, Dec. 17.-Allegations of fraud In
the procuring of public coal lands by the
Union Land Company and charges of at
tempts to cover up the operations of the
company were made today by witnesses
in the suit Of the government TO recover
lands in Routt County, Colo.
1t is charged that the land company OBJ
tanned the land by use of dummy entry
men and other illegal methods The suit
is directed against the officers and direc-
tors of the Union Land Company, and
Judge Lewis overruled all motions for non
suits.
n. G. kozer, a farmer of Iowa City
Iowa, declared that Frank McDonough. ST.,
an attorney for the defendant company.
had said to him: Unless we get these
thousands of acres of coal lands into the
hands of innocent purchasers for the bene-
mt OF the Union Land Company we will
not only lose the whole thing, but we are
going TO get into litigation with the gov
ernment and you stockholders CKrozer be-
ing stockhoIder) of the company may
have TO go to the penitentiary with the
officers. The filings have been irregular
and must cover up"
S. X. Stevenson. an attorney of Iowa
City, declared that two of the defendants
had been advised by a minor official at
the Land Office at Washington to change
the name of the company and bury it
deep to cover the fraud"
New-York tribune., 1909-12-18
FOREIGN FINANCIAL.

changed at 81 SIS for money and 821a for
account Anaconda was unchanged at
fl01s Canadian Pacific Is higher at lS5 II ;
Grand Trunk II lower at 212s
Money was in short supply and good de-
mand, necessitating borrowing from the
bank. Discounts continued firm.
tions experienced irregular movements,
with narrow business. King Leopold's
death had no material effect beyond a
fractional easing in Rhodesian mines,
which, however, recovered later with other
Kaff1r shares. Mexican rails were firm on
good traffic reports. Foreign bonds were
supported by the Continent, but British
securities generally were neglected and
easy.
American securities opened steady Good
support in Union Pacific, Southern Pacific
and Atchison, Topeka & Santa Fe i'm
parted a firm tone and a hardening ten
dency to the rest of the list. At noon the
market was from Is to a point above par
ity. In the afternoon New York accepted
the higher level and sent light buying or
ders. and after a few slight changes the
market closed quiet and steady.
Call money In London. 5 q q per cent;
AS per cent; long bills, per cent: Berlin
discount rate. "a per cent: Paris discount
rate, 234 per cent; Paris exchange on
London, % francs % centimes; Berlin eX-
change on London. 20 marks As pfennigs.
Bar gold. rs sd. American eagles, 76s 4d,
Paris, Dec 17-Three per cent rentes
271A centimes higher at 90 francs rs
centimes
Berlin. Dec. 17.-Prices were firm on the
Boerse to-day.
New-York tribune., 1909-12-18
ATLANTIC FOURS UP
AdUance Leads to Louisville
& Nashville Rumors.

sudden advance OF about ten points in
the price OF Atlantic Coast Line Railroad
Company per cent collateral trust bonds,
which are secured by the $3O,6OO. 600 Louis
VILE & Nashville stock acquired by the
Coast Line in the fall of 1902. gave rise
yesterday to various rumors of coming
financing by the Louisville & Nashville The
bonds, which had closed on Thursday at
91A opened yesterday at y, and within
an hour had risen to 101 H. declining there
after 10 95. and closing at 96H. The trans
actions in the issue were on an extremely
heavy scale, aggregating $685., 2,000 par
value. Atlantic Coast Line stock, selling
ex dividend. advanced 31a points and
closed with a net gain of 2A, while Louis
Vile & Nashville, which had risen sharply
In the late trading on the preceding day.
following the announcement of increase of
the dividend from to per cent year,
made a net gain of 2A points.
The Atlantic Coast Line Railroad Com
pGny gave In payment for the 3O6,00o
shares OF Louisville and Nashville stock
bought by It $4,000. 900 cash. 5000, 900 in
it's own stock, quoted at the time at about
$50, and $4,000, 900 In its collateral trust
bonds secured by the deposit OF the stock
purchased. the total payment being equiva-
lent to about s160 a share. The collateral
trust bonds are subject TO call at los on
two months notice
The mortgage contains a provision that If
the Louisville & Nashville shall issue addi-
tionaI stock there must be transferred to
the trustee OF the mortgage additional
shares in the proportion borne by the stock
already pledged. 800, GOO shares, to the total
present issue of 60000 shares. and 1t is re-
ported to be the intention of the Coast Line
nnauasement t. retire the existing collateral
trust issue in order to avoid the necessity
of pledging under the indenture any part
OF the new stock which may be issued. and
instead to be in a position to use the new
stock as collateral in financing the pur-
chase.
One report was yesterday that the new
stock might be in the nature Of bonus.
In January, 1903, 1t will be remembered, the
Louisville & Nashville ''cut a melon" in the
paid In stock of the Louisville Property
Company a corporation holding coal and
other lands the $4,000 capital stock Of
which was formerly owned by the railroad
company. The capital was increased to
s6O0,0o0 which was l per cent of the total
capital stock OF the railroad company, and
distributed among the shareholders of the
latter company. There were rumors yester-
day that the Atlantic Coast Line was plan
ming to relnquish it's control of the Louis
Vile & Nashville, but they were not gen
orally credited, as the two systems are not
parallel and competing
New-York tribune., 1909-12-18

1s121le: March, 1sa1s.25c: no sales. London
steady: spot. $50 LIS Cd; futures f6o. lis 3D.
Sales there included 800 tons spot and 500 tons
futures Local dealers quote lake copper 10 zoo
13621zc; electroytic 10. i2la413 3Itac. and cast
Ing, 13Q13-25c- TIN-Easy; spot and Decein-
Der, 81. 1896: January. 80. 75a32gOc: February.
81 1oq s5c. and March and April. 81 IofI52 9Oc
London easy; spot. f130 los. futures. $50 las.
LEAD Arm: spot. 457 aga 81 1sc New 1ork.
450Q4 SOC East ST. Louis. London unchanBed-
SPELTER quiet; spot SOC asked New IoEk.
6i0c East 81. Louis. London unchanged IRON
was higher In London, with Cleveland warrants
at OOs Cd. Locally unchanged, with No fouh-
dry, Northern, at SIS 5OGS19; No 2. SIS 259
SIS IS; No. Southern and No. southern soft
SIS 5O9Sl9 25. No change in pig iron eertin-
MoLAssEs AND sYRUPs-Unchansed and
steady.
NAVAL sToREs-sPIRITs TuRPESTINE
steady. but quiet and higher. at 5T3sc- TAR
Firm. ROSIN-Steady and unchanged
oiLS-Renned petroleum steady nt recent
prices. Linseed oil firm. and a further ad-
vance OF not less than &c gallon was an
nounced In prices. PETROLECM-Stancar
white, bbls. New York and Philadelphia. S.Ooc'
oulk. 455c: refined. cases. 10 45c: water white
ools D soc; bulk. 6.05c: cases IL. .9Sc- I4lNSEED
O1L-American seed. city raw. 69GIOc, out-of-
town raw. 6sa69c; Calcutta raw. T5c LARD
COTTONSEED OIL-Fairly active. with
sales OF 165OO bbls closing at IS points decline
u points advance. Local contract prices;
New-York tribune., 1909-12-18
OTHER LIVESTOCK Markets.

Chicago. Dec 17.-CATTLE-Receipts. 4.0oos
steady: steers. S5Q$s: cows. So 509S5; heiferS
s3 40ds6: bulls. So 4OGS4 IS; calves. S3gs9 IS:
stockers and feeders. s. 1898 80 HOGS-Re-
ceipts IS COO; strong; choice heavy. $ 55GSs 65s
choice light, S. 25qss 40 packing. s. 4oGsS 55i
pigs, 81 23QSS 10. bulk OF sales. IS S04SS 80.
SHEEP-Receipts 12OoO; steady stronss
sheep. S4gSJ IS; lambs. S6 759$s 60. yearIinss.
81 5OGST so
Cincinnati Dec. 17--CATTLE-Receipts. rs:
slow; fair 10 good shippers. s. 6o8S6 40 com
mon. $29$3 s.. HOGS-Receipts. 3.759. slow.
&c lower. butchers and shippers SIS 45dSs 5os
common. IS 50GS7 80 SHEEP-Receipts. 94s:
slow. &c lower; 50 258$J IS: lambs slow. $50
East Buffalo. Dec. 17--CATTLE-Receipts
2oo; dull; prime steers. sI9Ss .. vEALS-F5e-
ceipts. 500; active and SOC higher. S66S10 80.
HOCsS-Receipts. 1900, slow and 5f 10c hiEhers
heavy s. 5Gfl s. 50: mixed SS 45GSS -: Workers.
s. 2S9RSs 20; pigs S56SS 30, rOughs. s. 75QS7 90.
SHEEP AND LAMBS-Receipts. 1900: activss
wethers &c higher; lambs. s. 25GSS IS. year
liugs. 81 5OGST %. wethers. s. 1885; ewes. $50
IS 80; sheep. mixed S3GSJ 30
Union stock Yards. PtttsoUrg. Dec 1I-CAT-
TLE-Supply light: steady; choice. S6 S5GS7 2S-
SHEEP-SuppIy fair; steady; prime wethsrs-
50 0SdS5 go culls and common $21S3. lambs.
seGSS 20. VEAL CALVFS-sSGSS 10 HOGS
Receipts light active; prime heavies. 81 80. ne
diums. s. 4NGSs AZ heavy YOrkers. So Sass 90;
Hight Workers. IS 35f$s ~; pigs. s. l58SS %;
roughs 81 5OTSs
New-York tribune., 1909-12-18
AFTER |. C. TAXES
ALLEGE DISHONESTY.
Secretary Dickinson In Hear
ing at Springfield.

Springfield, H., Dec. 17.--Attorney Cen
eral Stead appeared before the Supreme
Court here to-day in a suit TO compel the
Illinois Central Railroad to account for Z
per cent of its gross receipts from charter
lines. through which the State of Illinois
seeks to recover an amount approximately
estimated at s30,0oo,O00 from the railroad
company.
Jacob NJ. Dickinson, Secretary OF War
was in court prepared to present his argu-
ment for the Illinois Central road. of which
he was general counsel when the suit was
begun.
The case is based on the grant by Con-
sress to the State OF Illinois of 25s5,0Oo
acres or land as a right of way to aid in
the construction of central railroad
through the state This grant was made in
leoo' and the following year the state
chartered the Illinois Central Railroad and
granted to 1t all the land received by the
state from Congress, together with other
property. The state claims these lands were
sold by the road for $500 900. which was
more than sufficient TO build the road
The claim now made by the Illinois Cen
tral' said Attorney General Stead that It
owes the state nothing because of this land
grant, as an example of ingratitude has no
parallel since the time Of Judas Iscariot !"
The charter granted to the railroad, the
Attorney General claimed, was an absolute
contract. by which the state was entitled
to receive not less than per cent of the
gross receipts.
Down TO the year 1877 the accounting was
Kept satisfactorily to the state. the charter
hnes-7Oo.6 miles-comprising practically the
entire Illinois Central system. About this
time the road began to acquire other lines,
and now comprises 4,377 miles of railroad.
OF which the charter lines comprise less
than one-sixth
Not only has the defendant failed to
furnish the government semi-annualy a
copy of the account, as required by the
charter" continued Mr. Stead, but the
pretended statements it has furnished have
been dishonest and fraudulent
The star scheme practsed by the de-
PENDANT to rob the charter lines has been
that of constructive mileage In plain Eng
lish, constructive mileage means dishonest
mileage. 1t avails nothing to say that con-
structive mileage has been common among
railroads So has rebating So has stock
watering. So have many other schemes
which are going out of date"
New-York tribune., 1909-12-18
FOR FREE CANAL.
AdmiraL EUanS Discusses the
Outlook for Panama Ditch.

In an article on the Panama Canal in the
January number Of "Hampton's Magazine"
Rear Admiral Robley D. Evans declares
emphatically for a free canal. THE only
remedy in sight is to make the canal free
to American commerce." he says, and II
this can be done. 10 rely for its benefits
'on the advantages to follow TO the various
Industries that will naturally be affected"
Admiral Evans argues that. owing TO
calms sailing ships will not be benefited
by the canal, and that, owing to coal
charges and original cost of building,
steamships will not be benefited unless
canal rates are made so cheap that the
transcontinental railroads will be unable
TO underbid the freight-carrying steam
ships. He continues:
The objection to a canal free for Amer
ican commerce only is found in the terms
of the Hay-Pauncefote treaty, one clause
of which is as follows: The canal shall
be free and open TO the vessels of COM
merce and of war of all nations observing
these rules on terms Of entire equality, so
that there shall be no discrimination
against any such nation or It's citlzens or
subjects, in respect of the conditions or
charges of traffic or otherwise. Such con-
ditions and charges of traffic shall be just
and equitable.
If this provision OF the treaty is TO he
observed. and surely it must. then no ex-
ception can be made in favor of American
rates as vessels of other nations, or stay
out OF the canal. In other words. the gov
ernment of the United states must main
tain a waterway between the two oceans
purely for the benefit of foreign commerce,
without benefit TO our domestic interests;
because of conditions which were not
known or not understood when the build
ing of the canal was authorized This
will not appear to the American people
or 10 fair-minded people the world over
as good business proposition, and they
will look for means OF relief.
II cannot for a moment, be fairly as
sumed that the Congress Of the United
states will tax the people Of this country
for the building and maintenance of
canal or other public work which Will not
only not be OF any value to them, but will
Conferring benefits on foreign commerce
which is competing with their own.
Assuming that the present treaty must
remain in force let he Congress of the
United States declare the canal free to the
commerce of the world This would mean
that the people of the United States would
nav the interest on the canal bonds and In
addition the sum necessary to keep II in
order and meet Its operating expenses ana
thus secure the advantages and reap the
profits. whatever they may be, of the COM
merce passing through II.
Admiral Evans goes into discussion OF
the cost OF the canal and it's probable
revenues He estimates the total cost at
500, 900 900 and the expenses of running the
canal at 100000 yearly. He places the
annual business which the canal will do
at six million net tons, and concludes:
If we treat the estimates under consid-
eration as we have been forced to treat
those for construction will find that
alton will return a revenue insufficient to
nav even the working expenses.
New-York tribune., 1909-12-18
K. & M. RY. CUTS EXPENSES.
Reserves 40 Per Cent Net Surplus
Earnings for Stockholders.

The board of directors of the Kanawha
&. Michigan Railway Company. at a meet
Ing held yesterday. passed a resolution
that II would be the policy of the board
hereafter not to expend for additional bet
terraents and car trusts in excess Of so
per cent of the net surplus earnings.
This leaves 40 per cent of the net earn
ings to be used by the directors for the
benefit of the stockholders. and 1t is un-
derstood that the money Will be devoted 10
the payment of dividends. II is not re-
garded as probable, however, that any
dividends will be declared before March
or April when the total earnings for the
year will be estimated
The action of the directors is believed
TO have been due 10 the objection made by
the minority stockholders of the. company
against the policy of putting the entire
earnings into improvements.
New-York tribune., 1909-12-18
STARCH BOND PLAN.
Committee Said to Have Discussed
Corn Products Exchange.

The bondholders' committee OF the Ma
tional Starch Company, composed of John
Higgins. Joy Morton, Edwin S. Marston and
August Heckscher, met yesterday and dis
cussed a plan for taking care of the de-
faulted 5 per cent debenture bonds of the
company 1t is understood that the plan
provides for an exchange of Corn Products
Refining Company bonds for the defaulted
bonds Of the starch company, but on what
basis was not stated
1t is said that the plan will be submitted
to E. T. Bedford, president of the Corn
Products Company. and if it meets with
his approval the -1inority of the bond
holders, who are It represented by the
committee, will be asked to accept it.
New-York tribune., 1909-12-18

Spot was quiet and points lower at 10 1Oc
for mid-uplaud and 1535c for middling
Gulf. Delivered contract 800 bales Liver
pool cables: Spot dull; sales. 5000 bales; specu-
ation and export. 500 bales: American. 1000
bales imports, 1000 bales: midland. S.03d
futures opened easy at 7l3G10i7 points decline
closed barely steady. to points lower De
cember and December-January, 7s1lsd: Janu-
ary-February. 1850; February-March. Ssd
March-April 79l I'D: April-May. T.93 I'd: May
June. 7.9512d; June-July. T-95d; JuIy-August.
7.93hd; August September, I'D; September
October. 713i2d; October-NOvember 8 93 Id .
November December. 6.S5d.
CO9FEE-More active. sales amounting TO
10000 bags, ana prices. after opening steady at
unchanged 10 points decline. gained strength
and closed at a net advance of 5a10 points
The French market again firm. closing az
Il franc net higher. Havre is on a basis Of
Santos coffee. OF which offerings from the
primary markets have been suspended, but
New York is a Rio basis, with coffee still
coming out at the interior. Hamburg un-
changed TO 4 pfenning lower Rio was un-
changed and Santos has no coffee 10 offer
that market nominal. Spot coffee was
steady at sac for Rio No 4. Local contract
prices:
New-York tribune., 1909-12-18
LIVESTOCK MARKET.
BEEyES

New YORK. December II. 1909
BEENEs-Receipts. 1917 y cars or eT4S
head. including 142 cars for slaughter and
export and oi. for market. making Is cars ON
sale Steers showed more strength and we're
advanced in price l0H i5c: bulls were about
steady; cows held up for all grades. and fat
cows We're nrm- Yards we'll cleared Fair -
prime native steers sold at S. GO T. SO Is per 100
10 bulls, 81 - y 81 -; cows 81 35 "a 81 Dressed
beef was Ia fair demand and steady Experts
to-da' in the ST Louis were $50 quarters for
the Morris Beef Company and SIS for Armour
& 60. Tomorrow the Mesaba Will take out
3es cattle and 1000 quarters for Schwarzschtld
q Sulz6erger and 800 cattle for J. Shamberg &
son. the Celtic, T26 quarters for the Morris
Beef Company. making total for the week
OF sos cattle and 5.sei quarters, all TO Great
Britain.
Sales-Tob.n & shannon 23 Indiana steers
llod ID average. so per 100 II; 20. 1919 n so
l bull. $50 ID. 81 so. cows. Sos 10. 81 81. 20
T45 III So Sc.
Mcpherson s. Co; ~ Kentucky steers 1903
III. So 70; 20. 1889 III. 81 80: 2S. 1921 H. 50 10:
10. 1881 III SO; 5. 1906 10. s. GO: bulls. ii62
III. 81 IS; cows. 1855 N. 81 !. 1880 10 So 75.
3. GOO ID. SS so: g. $50 ID. 81 90; \. a34 10
ss 10; /. 500 lb. 81 90; 2. 1855 ID. 81 rs: IA
New-York tribune., 1909-12-18
,ocx ISLAND pEsENTURes SOLD

The Chicago. Rock Island q Pacific kalI-
road Company. It was learned yesterday
had sold TO the Chicago. Rock Island dS
Pacific Railway Company T,5vo'ooo OF iS
Z per cent debentures, payable on SePteih-
Der ]. 1913. The proceeds OF tle SAFE oi
the debentures, with the slO'Si-'oVo pioceeuS
OF the sale of the Frisco STOCK formerly
held by the Rock Island nave peeh ue
posted with the Central Trust Coihpahs'
it is said in preparation for tile Ieli eIliei,'
., .ba Chicago. Rock Island G. Pacific Rail
road Company's S17 364.1s0 collateral trust
ner cent bonds, called for redemption on
Eebruarv / next The debentures, 1t Is
sunnosed will either be sold by the rail-
,,av company or held In it's treasury as col
lateral for an additional issue OF some OF
its own securities.
New-York tribune., 1909-12-18
CONDITION OF TRADE.
Sradstreet's says:

Retail and holiday trade has been helped
by SeaSonable weather and the approach
of Christmas, and makes good comparisons
with preceding years. few markets. IN
fact, reporting record turnover for the
season Best reports come from the North
and West. but Southern trade also shows
expansion. though this class OF buying
is not yet at its fullest Best reports
come from the cities. where purchasing
power is improved as compared with one
and two years ago Country trade re-
ports are not as uniformly good. owing
partly 10 bad roads. but also. probably. to
comparisons being with excellent returns
OF recent previous years Jobbing trade
reports are cheerful. with special stress
laid upon the volume OF reaSSOrting de-
mand to NIL broken stocks Wholesals
trade and demand from manufacturers
tend 10 quiet as the stock taking period
livery are we'll filled In many lines OF
raw materials there is a tendency to quiet
down or TO postpone buying till after New
Years, but IL is 20 be noted that while
iron and steel are rather quiet so far as
new business Is concerned and pig iron
shows weakness. the volume of specifica-
tions ON orders expiring with the year ts
very full.
Dun's Review says:
That the people have money 10 spend
and are willing TO spend 10 is proved by
the active holiday trade reported at most
of the large cities OF the country. IL Is
proved also by the heavy imports. which.
during November. were Sl4O,392.OO0. the
largest months total on record. and S36-
- a,UUu greater th0n a year ago. At the
Port OF New York during the latest week
the imports We're $l7.406. 7SS. a gain OF
81 l-I55,S95 over year ago. and $2163 SIS
In excess of the months exports. The
year is closing with the volume OF buSi-
ness back 10 more than the normal point
and with confidence fully restored. The
prevailing high commodity prices. indeed,
produce considerable trregularity and
there is much discussion among close stu
dents OF economic conditions as to their
effect upon the money market and the in
dustrial and labor situation. But the busi-
ness world seems 10 be adjusting itself TO
the conviction that an era OF high prices
has set in TO continue for an indefinite pe-
Rod Railroad earnings continue TO expand
the gain for the nrSt week OF December be-
ing per cent. and advances in rate OF diVf-
dendS by two important systems are events
OF the week. On the other hand the rail-
roads are sttN between the double fire or
popular effort by shippers to secure lower
rates and the demand OF EMPLOYEES for
higher wages. Bank exchanges outside OF
New York are H. per cent greater than
In 1905 and li.4 per cent better than in
1896 while the liabilities of defaulted
firms. as compared with the total of clear
tngS. are at nearly the low point The Of
fetal crop reports, SO favorable for the
principal grains and so reduced as re-
CARDS cotton. have been the feature OF the
speculative markets. and advanced prices
IN the leading drygoOds lines are reported
In the iron and steel market pig iron is
quiet, and a somewhat reduced demand in
finished goods is noted. but on the other
hand an advance has taken place In wire
products