davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
PUJO REFORMS RIDICULED
Loan Restrictions Impractical
BILE. Say Philadelphia Bankers.
Try telegram TO The Tribune

BY Telegraph to Tine Tribune
Philadelphia, March l.-Bankers IN THIS
CITY who have examined the report Of the
Puio "money trust" committee think that
many of the remedies proposed are i'm
practicable and that the entire document
will prove merely an interesting cOntriJu-
t,op 10 the literature OF the national finan-
cial system.
In a general way it was asserted that
no scandal whatever had attached to the
serying of men on the directorate of more
than one Philadelphia national bank anu
that the passage Of a law prohibiting the
nrac,ice would have little effect here.
prohibition OF the lending of money to
directors was characterized as ridiculous
and impracticabe The plan 10 make
nrblic loans TO depositors was called
dangsrous and the invasion OF "A conf
Dental relation.
Francis B. Reeves. president OF the
PHILADELPHIA Clearing House, and OF the
Girard National Bank, said:
"As TO the proposition prohibiting the
liam NJ money to directors, ! can oily
cav that II is ridiculous, and feel sure
never will become a law. why. we c"uiu
NOT yet first class directors II we IA no,
hunt for them among men OF large husl-
ness and therefore men who are large
borrowers In many instances the III
rectors of banks are the very best toi
rowers."
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
Purchases by Companies.

Until the adverse decision Of the
Der 16. 1912. each of these companies
purchased under contract the entire
output of a majority of the collieries
operated by independent individuals
and companies The price paid under
these contracts for the domestic sizes
| is fixed at 65 per cent of the average
tidewater price.
But an increase in the cost of pro-
duction of anthracite coal is not con-
elusive of need to increase price. The
reasonableness Of the actual cost OF
production must be considered. OWING
principally 10 marked difference as 10
the quality and accessibility of the coal
beds. the results and costs Of the diff
ferent companies operations vary 50
widely that il is evident that If the
company having the highest cost OF
production sells its coal at price high
enough to earn fair profit on It's coal
operations alone, the more faVoraDly
situated companies selling at the same
price will reap enormous profts.
Furthermore. where there is COM
mon control of the coal mines and rail-
roads Gas in all the companies included
IN this report the capital invested de-
rives its income from both the mining
and transportation Of the coal, and the
failure to realize profits in mining may
he and often is. compensated by the
profits in the operation of the railroad.
on account of the coal tonnage
N Cugh "a case IL Is not "A matter OF
importance to the controlling financial
interests whether the profits are de-
, rived from the mining or from the
transportation Of coal. The purpose Is
simply to operate the coal mines and
the railroad so as TO produce the maxi
mum profit from both. and not SIMPLY
10 secure profitable results frcm each
source of income separately.
Under these conditions, the motive
to increase the efficiency and decrease
the cost of mining coal is much weaker
than in the case Of corporation de-
pendent for it's profits entirely on the
results OF the mining.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
MABON CRlTICISES BILLS
Stock Exchange Head Con-
dennis Regulation Measures.

BY lcleSf3pn 10 ] NJ Iilbuh''i
Philadelphia March flames Il. Ma
bon. president of the New York STOCK
Exchange. believes that stock exchange
transactions should be safeguarded by
all necessary legal procedure and that
investors should be thoroughly protected,
but he also believes that regulations
should be general and should apply to the
stock salesman who is not member OF
the exchange, as well as to exchange
members.
The president of the New York Ex-
change gave his ideas tonight at din
ner Of the local exchange to comment
crate the opening Of its new building.
Mr.. Mabon cited the twelve bills now
before the New York Legislature 10
regulate stock transactions, designating
them as good and bad bills. Speaking
of the measure that calls for quarterly
reports of all corporations to be sub
mitted within five days after the close
Of the quarter, he said;
.J believe the investor should be thor
oughly protected. but see how manifestly
unfair this bill is. 1t is physical nm
possibility for most Of the large cor
porations TO comply with this request.
Take the Pennsylvania Railroad, for IN
stance. The Pennsylvania Railroad can
not gather the data from its immense
ramincations to make a report within
five DAYS after the ending Of the quarter,
and still under the bill In the New York
LEGISLATURE II would be a misdemeanor
To deal in the stock Of that corporation
unless the report was made within five
DAYS after the ending of the quarter.
The point | wish TO make is that the
exchange takes infinite care in the mat
ter of listing securities traded in on the
exchange. Yet by this latest legisla-
ton they would prescribe laws for us
and stil make 1t quite proper for trans
actions TO take place elsewhere and any
where I'm these same stocks where no
restrictions exist.
Il believe that every safeguard should
be thrown around the investor and that
the exchange should be held responsible
for these safeguards. The books OF cor
porations, or at least their reports, should
he open at all times to the investors.
This is what an exchange is for-to safe
euard the investors-and all laws look
ing toward this end are advisable.
President Mabon declared impossible
the incorporation BILL the four dollar tax
bill and the 10 per cent Limitation on call
loans.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
BANKER CONDEMNS PUJO.
"a Contemplate Cuss,' Says
Major HigglnSon.
CANNOT BE MONEY TRUST
uouse Investigator Did Not
Want Facts, but News, AS
serts Boston Financier.
rBy Telegraph to The Tribune.l

yoston. March MAJOR Henry l., Hie-
.s,son Of Lee. Higginson x Co. the bos-
o., banking firm named among others
:, .ho majority report of the PuJo com
'-,,,oe as one Of the most active agents
,r bringing about the concentration OF
.,onev and credit" declared to-day tha'
80 does not know what money trust
= that Chairman Pujo does not Know
ubat money trust is and that PuJo
&c "a contemplate cuss.' The banker
s,a,ed his views with great emphasis ana
somewhat as follows
There is no money trust there cannot
- money trust The term has never
heen defined and cannot be. IT does no.
mean anything. does not exist, ana fuJo
knows that il does not
"Puio did not want facts: all he wanted
uos news. ] am I'm business 10 make IN
forest for my investors. Take the case OF
a man who buys -four for profit. He can
coll il if he wants 10, or he may refuse To
soil II is his Not so with money. You
deposit your money with Smith. Morgan
~ any other banker. That money is not
his You have the right to withdraw 1t
an ytlne you oes"i ~ ''S' "
vour banker. Is that a trust?
Have ] asked YOU Il deposit your
money with me? or have | tried 10 de-
nrive YOU Of your money after you want
Cd if back? You know YOU can get your
nancy back whenever YOU want 1t.
William Endicott, jr., of kidder. Pea
body AZ Co. the other Boston banker
named in the report. was asked To-Day
what a money trust is.
Il don't know" he replied. There IS
mn such thing
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
CURRENCY BILLS READY
Reform Measures Prepared for
the Extra Session.

Washington. March That currency
reform legislation has been framed to be
presented TO the House at the extra ses-
sion, If President Wilson includes it in
his legislative programme. was the an
nouncement made tonight by Representa-
tive Carter Glass. Of the sub committee
Of the Banking and Currency Committee.
which has been investigating the subject.
Mr.. Glass said his currency plan had
been practically completed and it did not
include the remedial legislation" sug-
gested by the report of the Pujo sub
committee on the money trust Mr..
Glass added that he did not think the pro-
posal to continue the money trust IN
vestigation during the extra session would
be adopted by the House.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
IITTlECOM MENT ON REPORT
Wall Street Already Knew Its
Contents in General.

The report of the Pujo money trust
committee. noW IN the hands of Congress.
occasioned little comment in Wall Street
Yesterday. as its contents were generally
known previously. owing TO the line OF
questioning adopted by Samuel Inter
myer. counsel for the committee. at the
time Of the hearings. There WAS a gem
eral disposition. however. to belittle the
committees assertion f the existence Of
a money trust. with the Morgan interests
as the inner circle. and the opinion was
freely expressed that no laws would be
enacted that would materially change
present conditions. unless II were done
through the medium of a reform Of our
currency system.
\ canvas of the various banking houses
charged with being a part of the great
money power elected nothing in the way
OF Official statements. Among Stock EX-
change houses. however. ,he"e was dis
position to talk more freely. Henry
Clews. head Of the banking house OF that
name. said he believed the recommended
tons OF Mr.. Untermyer and Mr.. pujo
would never pass muster in Congress, nut
ceChned to comment further.
Leopold : Bache. of j. ;. Bache & Co,
vA) sent w j. Wolman as their repre-
sentative TO explain Stock Exchange deal
ings to the committee during the Wash
ington investigation. declared that no
money trust" could exist, as charged.
Regarding the incorporation of exchanges
he believed that the state had taken this
matter out Of the hands of the federal
government by the bills already proposed
Al Albany He was inclined to think that
If the New York Stock Exchange was ~
corporated similarly to the Co,'ou Icx-
change such a move might prove 10 be
beneecial rather than detrimental
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
WIFE'S FUNDS BAR ALIM0NY
Court Reverses Order Giving
Mrs. Volck $75 a Month.

The Appellate Division has reversed an
order of the Supreme Court awarding $'a
a month alimony and so counsel fee 10
Mrs. Lillian Volck in her separation sui
against Adelbert g. Nolck. son By a prior
marriage Of Mrs. Doniicio da Cana, wiie
~ the Brazilian Ambassador at Wash
ington.
Volck is employed in the real estate de-
oor,ment of the New York Central Rail
road. and his salary Is $3.50 MONTH ne
denied the statement of his wife mat nc
had an allowance from his mother
1t was shown that Mrs. VolcH mas an
income of 1913 a month from $500" worm
Of International Nickel Company stoch'
The higher court decided that the wI'e
must get along on this income "ithou'
any alinonv from her husband.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
--77777-7--1777---7- 77-i-l-l7I--7l7--1l777l---
SCHOOL AGENCIES.

ssmencan and Foreign Teachers Agency
s.spphes Professors Teachers. Tutors. Gov
Wu,nesses etc. 20 Colleges Schools and Fam
ss es Apply 20 Mrs. A. J. YOUNG-FULTON.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02

ADVERTISEMENTS AND suBsCRiPIio on,
o. The tribune received at their Uptown
of1co M 1894 Broadway. between 36th anu
s7th SITS, until o O'Clock p. M, Adver, gse,
ments received at the following oranch OFFICES
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
INSTRUCTION.
For Both Sexes-City.
LANGUAGES
THF RERIITZ SCHOOL OF LANGUAGES

'"' bLhiiiL SthooL VT b'.NpOhuEo
Madison Square, G122 Broadway
Harlem Branch 343 Lenox Ave, mr.. 127th st.
Brooklyn 21S-22O Livingston St.
Best methOd--Iargest and Oldest School.
superior Native Teachers. Trial Lesson Free.
Day or Evening. Glasses and Privately
At school or Residence.
over 300 Branches in America and Europe
Grand Prize at all recent Expeditions.
special attention to Travellers and Business
Men.
NEW CLASsES CONSTA NTLY FORMING.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
GAVE S4,0OO,0OO,
TOOK S13,45O,0OO
Continued from nrst page.
made possible by the shortage of ship

made possible by the shortage Of ship
ments.
These amounts, il should be under
stood, do not represent the amount Of
increases in net profits to the opera
tors, because out of these increased
receipts had to be paid the cost of the
six weeks cessation of work in April
and May, and also the increase In the
wages of employees resulting from the
settlement of May 30"
The report shows that the recent in
creases have been more than sufficient
TO compensate fully those companies
whose costs of production have in
creased most rapidly during recent
years. and at the same time have very
greatly increased the profits of those
companies. of which there are at least
several, whose cost of production either
decreased or remained stationery dur
ing the same period.
This conclusion is is stated, "is
based on the fact that where normal
years are compared none of the com
panies has suffered an increase in the
cost of production equal to the increase
in the selling price over and above the
recent advance in wages
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02

DIX. KN,PE. TRAINER AND PHYSICIAN,
IS FRANKLIN ST
,Lhercise, boxing. health culture. &c: "A few
,aeancies. afternoons and evenings, $40
son'h; hrst come. first served.
~yynlNG PICTURE ACTORS ARE MAKING
70 on MONEY. Why not you2 We teach how
ACT Tor moving pictures. Small fee charged
w W instruction. LOngacre Building, 1873 Broad
.as. corner Of 42d St. Room 80
n RONDONI ARTS SCHOOL
Yofhwing-Painting-sc nat Omy-
10y Evening Classes, 3J EAST 3OTH ST.
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12
A LITTLE SUM IN
MENTAL ARITHMETIC
AN OBJECT LESSON FOR ELKO BUSINESSMEN
The Independent Pay Roll is Over $125
per Week.-Mrs. Money is Distri-
buted Around Town Among
Class of Men who Neglect to
Throw Two Bits Our
Way Occasionally
lis it Fair?

There are a number of business
men in Elko who continue to get
their stationery and other printing
done out of town. Not that they
can have it done any better or any
cheaper. but because they have 9
Crouch against the misguided men
who were foolish enough to have
ventured to embark in the news
paper business in Elko. Such a
course is sui2idal from a business
point OF view and has a direct
tendency to hurt the town rather
than crush the newspaper which
has been boycotted.
Let us give a case or two ir
order to make our meaning clear
Step into barber shop in town
and pick up paper. In every
case you Will find a Reno, San
Francisco, Salt Lake. Ogden. or
some out of town paper around,
but seldom. if ever, a local paper.
The Independent man tried to send
his paper to the barber shops and
was met with the remark-"I am
taking four or five papers and can't
afford to take any more" They
can take foreign papers but can't
afford to take home papers. This
office has on its payroll eight print
ers, five of whom patronize the
barber and pay for shaves and
hair cuts an average of ten or
twelve dollars per month which
amounts to about $4,000 per year
and yet the town barber shop can't
afford to support a home paper.
Take the grocery stores in Elko
for another example. The Inde-
pendent has been under the present
management for three months and
during all that time so far as our
books show, not single grocery
store in town has spent 5 cents for
advertising in this paper and only
few Of them are on our sub
scription books. A glance at our
pages will show that other lines of
business are represented and are
paying their share for publicity.
We are calling attention to these
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12
Rev. Greenfield's Flying Trip

Rev. Geo. H. Greenfield accompanied
by George Wallace as travelling compan-
ion certainly covered some ground in
their auto trip of over 800 miles. They
returned this morning, dusty, tired and
smiling happily, for all had gone as
"merry as marriage bell"
Leaving Elko, they visited Halleck,
Arthur, Ruby Valley, and then into
White Pine county. They took in the
Sadler ranch, went up Hunt Valley in
to Mound Valley Then South Fork
and Lamoille were visited. At the
latter place services were held both
morning and evening.
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12

glaring facts in order to change
conditions in this respect if pos
slble. We wish to call attention to
the fact that The Independent
pay roll is over SIPS per week.
This money is scattered around
town and is divided between the
butcher, baker, grocer. dry goods
and other business men and helps
everybody to some extent. 1t is
only fair that the business men of
Elko should reciprocate. We are
not complaining or finding fault.
but are stating actual facts and
leave it to the sense of honor and
fair play of our readers and towns
men to treat us on the level.
Supposing we were to act as
some business men have been
known to do and refuse to support
the barber, the baker and the
grocer unless they supported us.
Supposing we should do as some of
our townsmen have done and do
all in our power to prevent all
non advertisers in these columns
from receiving patronage, how
would you like it, and who would
get the worst of it?
The barber, the grocer, the bak-
er, the cigar maker, the carpenter
and contractor and all other lines
Of business needs our support and
patronage and gets it too. We
need the support and patronage of
all these trades and we get it in
the neck. You pay your money
and take your choice bur be on
the square about it. "a Square
Deal for all" is our motto and if
you will make it yours an era of
prosperity will down the rising of
tomorow's sun.
Please remember Il at The Inde-
pendent is now equipped to do
ALL KINDS OF COMMERCIAL
PRINTING as good and as prompt
~ ss any city Office. Enclosing,
Lithographing, fine wedding and
commencement invitations furn-
ishpd on short notice. Support
your home paper and we will all
be happy.
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12
A Pure WHITE MOOSE

Seattle. WASH. May, 8-A pure
white moose was killed in the
Northwest on Kenai Penninsula,
Alaksa, by trappcr, Ezra Hig-
gins som" days ago. The skin and
head arrived at Seattle, Wash, the
other day, OIL the steamship, North
land from Cnrdova, Alaska. The
fate of the white moose was close
ly guarded in Alaska, and the story
not made public. until after the
Northland left Cordova. The
Thlinket Indians cherish an old
tradition that this or similar
white mGosc, was the spirit of an
Indian maiden, the daughter of a
beloved chief. One winter day the
girl left the village for visit to
another, and became hewildered in
a blizzard and was never seen
again. After The great storm had
passed over, searching parties went
into the ravine of kRnai Peninsula
to search for the maiden. When in
the woods a beautiful white
moose Sprang out Of a thicket and
dashed away. Year after year the
Indian have worshipped the albino
moose and f ON time TO time the
animal has heen seen. Now that an
albino moose has been killed the
Indians will miss it unless as many
hunters think there are several in
that section.
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12
Art Thou the Man
Tor Woman)?

Albert Hankin, of Mound Valley
is in town today.
Ed Cook is visitor from Winnie
mucca and came in yesterday.
Chas. Wilson came down from
Tuscarora Saturday and returned
home yesterday
The Ruby City corporation have
resold part of Robinsun's ranch
that they recently purchased.
Frank Gedney and Mr.. OgiIvy of
the Denver Post" visited the Min
eral Springs. in Secret Canon last
week.
Ole Parus. rancher from White
Rock arrived in town yesterday,
and will remain couple days
transacting business.
VIM. Jones, San Francisco tele-
graph operator arrived in EIko yes
terday and expects to enter the en-
ploy or one of our local company's.
Drs. s. P. Conwell and l.. G..
DolIey, Reno opticians have opened
an office in Room of the Mayer
Hotel and will remain in town
few days.
Rev T. j. Hedges conducted sew
vices in Starr Valley yesterday bo h
morning and evening. He is arous-
ing considerable interest in the
work.
The Rev. George H Greenfield
left for Salt Lake this afternoon
on business. lie will be absent a
couple of days
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12
TO THE BASTILE

Judge Castle was an extremely
busy man at the morning court
today. He put two into the Bas-
tile. and gave two deserving ones
"hoaters."
Mike Michel appeared before
him on the charge of vagrancy plus
another misdemeanor. He was
arrested in the restricted district
by Constable Fernald. Judge Castle
sentenced him to two months in
Jail, hoping that Mikes morals
might improve.
John Hogan, who halls from a
land that does not boast of a navy
was given three months. He was a
fugitive under suspended sentence
in the justice court. He returned
to town and perpetuated his former
offense of drinking too much Noun
tian Dew. In fact when arrested
by Constable Fernald, John had a
stock of two bottles laid up for
home consumption.
Harry Baldwin was an Og len
exile, and was charged with vag-
rancy. After his plea of guilty"
he asked for permission to start
for the coast. The Judge gave
him till 4p m to make his exodus.
Bert Wellington who halls from
Shafter, also appeared before the
Court on the charge of vagrancy.
As ne wished to return to Shafter
he was given six hours to depart.
The civil sUit between Joe Tony
and Garnet Cowling was adjourned
till 9 a. m. tomorrow.
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12
COIN FISHIN'

It's u wise woman that knows when
to go - fishing. If different mem.
bers of the same family go on the same
day in different directions it seems
some one ought to get some of the
trouties that are trouting in the brook
Mr. e. Reinhart seems sure he will have
q trout dinner tomorrow. For bis son
Milton took q cbum and the auto and
went out on a piscatorial excursion.
Mrs. Reinhart, Mrs. Mcbride and Mrs.
Simonson wont out in another direction
on the same mission and whether the
Reinhart leader is stocked with fish to-
day deponent sayeth not.
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12
NO. Ill
HOWS YOUR LUCK
Meal Tickets Free at the Com.
mercial Hotel

j. Cashen of the Western Pacific
round house force was the lucky
winner last Saturday night and is
now the possessor Of good meal
ticket for five dollars worth of first
class meals at the Commercial
Hotel. Mr. Russell of the w. T.
Smith Company officiated at the
drawing.
Every time you dine at the COM
mercial you are given a receipt.
Sign this and deposit same at the
hotel and on Saturday nights at 8
o'clock when drawings are made
the winner receives a $500 meal
ticket free. Advt. 1t.
Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-05-12
MR.. TOGNINI'S GIFT
TO THE Y. nj. E. A.

The Rev. Geo, Greenfield brought
with him. from White Pine Co. some
highly interesting relics from the site
of old Fort Ruby, which antedates
Fort Halleck. They were from MIR.
ToSnini of White Pine Co. and
Will be placed in the Y. NJ. G. A. Mu-
scum. These relics are three in number.
The first is an old U. s. branding in
strument used by the soldiers of that
Fort for branding government mules.
The second is heavy weight, used
with chain, and placed upon the feet
OF unruly prisoners committed to the
guard house. The third is an old
bomb. These three relics will still
further increase the interesting collec-
tion at the local Y. NJ. G. A.