davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21

Federal directors that IL the Carnegie
properties were purchased other proper
ties should be acquired for the manufnc-
ture OF products not made either by Fed
eral or Carnegie. The National Tube the
American Steel & Wire, American Steel
Hoop. American Tin Plate, American
Sheet Steel and American Bridge COM
panies were suggested. Negotiations for
the acquisition of these properties were
entrusted to J. p Morgan & Co. and were
carried out under direction OF Judge Gary.
These negotiations were carried on at
arms length and In many cases were
prolonged. They finally resulted In tho
purchase. for the best price obtalnable OF
practically all of the stocks and bonds OF
the companies named and OF the Lake
Superior Consolidated Iron Mines
The organization was but natural
and normal development from existing
trade and manufacturing conditions" says
the brief. "and was only notable because
OF the IarCenees OF the conception which
underlay II and the courage exhibited In
undertaking TO carry It out. bW ability TO
think large and courage to execute the
thought are not condemned by the law
Indeed. the future prosperity of our coun-
try and Its standing among the nations
must depend In large measure upon the
announcement given to these attributes
of the American business man."
Economics Corporation Effected,
The corporation has accomplished the
objects of Its founders as follows:
Enormus economies have been effected
the saving through "A system OF compare
tive cost records having been approx
mately 1000, 900 in the blast furnace de-
partment alone In the FIRST year after the
corporation was organized. by the use Of
by-product coke ovens the corporation now
saves about 100000 tons OF coal per
year, and By briquetting nue dust about
100000 tons OF ore per year. both of which
were formerly wasted. BY n concentrating
plant developed from long study OF mix
ng ores there has been made available
100 900 900 tons OF ore which was there
tofore considered unsuitable for steel maxi
ing. And over 10000 900 barrels OF CO.
ment are manufactured each year from
blast furnace Stag which was formerly a
waste product.
With respect to the purchase of the Ten
nessee Coal. Iron 4 Railroad Company in
November, 1907. the brief presents the
following facts That the Tennessee COM
pany was not substantial competitor OF
the corporation either actual or potential.
because IL had never been success As
To the allegation that the corporation took
advantage OF the panic Of 1907 TO acquire
control of a competitor. Il ls shown that
the managers of the corporation had
previously declined repeated offers Of the
Tennessee property; that when Moore &
Schley were first in difficulties II loaned
them 81 100000 OF its bonds. and when
their condition became critical offered to
loan them 100000 additional in prefer
ence to their suggestion that IL buy the
Tennessee stock and that the corporation
agreed TO the purchase only when it be-
came apparent that nothing else would
save Moore & Schlcy from failure and pre-
vent the spread OF the panic.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
A Diminution of Capital.

Leaving aside the quc;io of avert
Ing panic. the most important question
Involved In the return OF American Sc
curltes held abroad is the manner in
which II will diminish the fund of Capl-
tai which Is normally available for new
Investments. In this direction the eff
! Feet of the European war loans will be
acutely felt In this country, even II not
q dollar OF American money appears as
a bidder for the new loans.
1T has been recently calculated by
SIR George Paish, the economic adviser
Of the British Government that the
total amount OF foreign capital invested
90 The United states Is s6.OOO.OOO 900.
1T IL this enormous sum I'm foreign
holdings which represents the most seri-
Gus menace to the American market and
to the possibilities Of our future fnau-
cial development
The amount In such securities which
Is returned TO tho American market will
influence directly the amount OF invest
ment capital remaining IN the United
States available for other purposes. 1t
Is at this point that the problem comes
directly home to American railway man
ayers and their bankers"
On cross denomination by Louis u.
Brandeis Mr. Conant said the cost OF
money to the railroads would Increase
from / TO / VI per cent
Commissioner Clements asked Mr.. Co
nant Have you or have you not been
employed by the railroads to testify In
this CaseY
why. certainly" replied Mr.. Conant
Frederick Strauss Of the Investment
Bankers Association Of America advo-
Gated the granting OF the application for
the Increase by the thirty-eight petitioning
Eastern carriers and said:
The crisis is immediate and the rem
edy must be immediate also. IL IS OF no
use now TO speak of economies OF opera
ton. They should be undertaken and
must be undertaken In due course. I'm
mediate relief In part lies within the
power OF the commission to grant and
this In my judgment It ought to grant N
order to reestabllsh confidence In Amer
lean railroad securities and TO check the
further export OF gold"
Mr. Strauss said that before the out
break of hOstlitios the position ~ the
railroads was bad enough. facing "a they
did the necessity OF giving permanent
form to Il large volume of temporary
financing and OF providing the money
for extensive improvements with INSULT
Client earnings to tempt the conservative
investor into buying bonds and INSULT
Client prospects TO tempt the Speculative
investor into buying stock.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
CARUSO SINGS FOR ITALIAN IDLE
Gala Relief Performance II Given
In Rome.

ROME. via Havre, Oc,. 2O.-Thcrc was
gala Performance at the Custan2I
Theatre tonight for thc relief Of the
unemployed Caruso. LucreZla Bori. Dc
Luca and Battist!ni sang selections from
IL Paglacci" the second act Of
"Madama butterfly" and the third act
OF "Ernani." Toscanini and Mancinelli
directed.
The theatre was crowded and about
S. 900 was realized by the performance.
Caruso and Toscanni will sail from
Naples for New York tomorrow on the
steamship Canopic.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
Investment Capital.

Mr.. Conant quoted authorities lndi-
eating that the worlds new capital nor
mally available for investment amounts
20 about $4,000 900 900 per year lie then
concludes:
III the cost Of the war for one year
has 10 be paid out of the amount OF
rnnual savings indicated by these figures
men every dollar Of new capital for
approximately four years will be absorbed
- Government loans, and there will not
nH penny available In any financial
!arket for building a railway spur, put
iing up new station or terminal out OF
.~p.tal account adding a bobhIn 10 tho
equipment OF woollen and cotton mills
ar making a single public Improvement in
ihe city of New York or any other munl.
'ph!lty, except out Of current revenue.
Nhit part the railways will be ahlo
- Play IN Wrestling a portion OF tho
""'lus savings from the outstretchCl
lands OF the Powers which have been
lowing away thousands OF millions In
powder and bali becomes an Interesting
S'aeF-''0n 4ess mast Aons into tho
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
Peck Ask. $4,000 damages.

ALRANY, oct 2O.--Duucan w Peck
state Superintendent Of Public Works
commenced libel suits to-day for $26. 900
each AGAINST the jamestown Journal and
O. T.. Chase of Jamestown The suits
grew out OF tho publication of a letter
written by Chase and published IN the
JoH7tdL The letter referred 10 Peck =
testimony before the Court OF lmpeach-
mont as perjurel,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
Carnegie s Letter Used to
Sh0zv u. s. Steela Trust
"You VIII Have $OOOOOOO Profit, Maybe Fifty; to Want
More Seems Wicked!' Is Protest Said to Have
Been Sent to Competitor.


PHILADELPHIA, oct. 20.--The United
States Steel Corporation In the final
hearings here to-day of the dissolution
suit instituted by the Government in
1911 revealed the series OF events which
led to the Organization OF the concern,
denied 1t is a trust and caused the
hanging of a new tale on Andrew
Carnegie.
The Governments case Is based upon
the mass OF evidence which, gathered in
the last three years. is intended to prove
that constant warfare formerly existed
among the different steel companies and
that the Morgan and Carnegie groups
of iinanciers amassed large wealth by
getting the companies together into one
solid working and monopolistic unit.
The Federal Government in contend
ing that price fixing steel pools had
existed presented a letter written at
Sklbo Castle BY Mr.. Carnegie to the
Illinois Steel Company in 1890. two
years before the organization of the
Steel Corporation. complaining loudly
that his own company was not getting
its share of business under the price
agreement.
Should not this order have come to
u.s. demanded the laird If you cal
MI next years orders at present prices
you have at least $4,000, 900 profit 1t
may be fifty. TO want more than that"
the letter concludes. seems wicked"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
Falls Far short of Monopoly.

The main points in the Steel Corpora
tons brief may be summarized as fol-
lows:
Tho corporation. great though It is,
falls far short OF a monopoly, it is con-
tended. SIS Il turns out only ASH per
cent OF the country's total present out
put Of all finished products OF iron and
steel for all the markets Of the world
and only 400 per cent. for the domestic
market. Even at its origin IN 1901, Il
is shown, it did only sol per cent Of
the country's business.
1t is shown that the corporations ore
Is only 80 per cent of that now known
in the Lake Superior ranges.
1t IL on the record of the Steel Cor
pOration as the greatest single force the
country has ever known in expand
ing the nations foreign and domestic
trade and prosperity that the corpora
ton bases its great claim for release
from the Government attack. 1t in
creased its foreign sales from 300, 900
tons in 1903 to 2,537 600 tons in 1912.
bringing an income into this country OF
S4i4 100000, in 1912 alone the foreign
sales amounting to s9l .9S4, 900.
1t was the chief factor, testified to by
expert steel men, competitors and GUS
toners alike. in developing the total
production OF finished rolled steel and
iron Of the United states from 9,4S7, 900
tons In 1900 TO 2l.62l 900 tons in 1910.
Not single competitor testifying in
the suit complained OF unfair compet!-
ton or methods on its part. Not a
single instance of railroad rebates
solicited or received by the corporation
was shown by the Government. it is
commended
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
MIR. Cnrncgie's Car Letter.

Another section Of the car letter
reads:
Concerning my wire upon the situa-
ton let me say that all is coming out
just as expected. There - nothing
surprlsing; a struggle - Inevitable aud
1t is question Of the survival Of the
ii,test. For many years We have seen
that the MANUFACTURER must sell finished
articles. one who attempts TO stop half
way will bee crowded out"
In another letter Mr.. Carnegie wrote
Il do not favor disturbing the
structural steel pool as long as we get
present percentages, nor the rail people
II we could obtain present percentages.
but ! do think I'm the latter case 1t is
impossible to do this
SIN another letter contains the fol-
lowing:
I'VE need to manufacture hoops cot
ton tics. steel wire. nails, tubes, perhaps
other things later as we go on. When
ever we do 50 we have the big trusts at
our mercy. Temporary arrangements
and understandings may be arrived at
then, but we should place little depend
enCe upon them. our safety lies IN
being independent and running our
business in our own way"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
More Peace Treaties Ratined.

WAsHIHGToN, Oct, 20,---Thc Senate In
executive session to-day ratified tho peace
treaties With Ecuador and Greece
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21

1t has increased wages OF employees
2S,5 per cent. since its establishment
only cutting once because of the severe
depression OF 1904, when It had to cut
It's common dividend, restoring wages
before restoring dividends, and never
cutting wages through the panic of 1907
when competitors did.
Prices have been competitive, as tes-
tilted by consumers and not rebutted
by single witness, Tho corporations
prices have been reduced 1875 per cent.
more than other commodities.
Two Government Investigations. last
Ing from 1898 70 1901 in the case OF
one on subsidiaries, and the other from
1905 to 1907, found the corporation law
ful.
In the face Of such facts-the COR
poration the minority producer OF the
country formed with intention to pro-
mote the trade Of The whole country,
which has been accomplished---it is con-
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21

open market and bid against the greatest
states In the world for some scanty por-
ton OF the supply OF investment capital
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
Charge of stock watering.

The sensational charge also was made
by Jacob VI. Dickinson. special assist
ant to the Attorn1y -General, that the
capitalization Of the Steel Corporation
is not less than S6OO.OOO.O0O in excess
of the value Of properties taken up IN
the formation Of the sO-callcd trust.
Mr.. CarneEles story of what he would
do II he were car OF the steel industry,
az narrated by the Laird OF Skibo four
teen years ago in letter to his
partners. provided another interesting
feature of the hearing.
Briefly. If | were car" wrote Mr..
Carnegie, 81 would make no dividends
upon common stock; save all surplus
and spend it for hoop and cotton tie
mills, for wire and nail mills, for tube
mills. for lines OF boats upon the lakes
for our manufactured articles and to
bring back scrap"
Several other letters written a dozen
or more years ago by Mr.. Carnegie to
his partucrs in the Carnegie steel Com
pauy were contained In the Govern
ment's brief. The ear letter was writ
ten July II, 1900. In this ana In other
letters Mr. Carnegie made i plain that
he did not favor pools ana commissions
with the other large steel companies,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
PRIVATE SCHOOLS

NEW YORK'S
PRIVATE |
SCHOOLS |
YOUNG MEN AND BOYS.
BUCKLEY SCHOOL
For Boys. Opens Monday. Oct. B.
NO.. Special Tutoring Department: 49,
WV hApiSoN A'E~' N'Ah ozp 81
KILyIN school: go ,,o.
College Preparatory. Very small groups
Individual Attention. 18th Year. Oct. Il"
IHE KOnyT SCHOOL FOR BOYS.
a country day, and boarding school Tor
younger boys. HARRY j. kUGEL Prin.
IRVING SCHOOL Id. RAY.
boys ' from M to 20. Al p tS
No home study for BOYS under iS.
THE CROFT SCHOOL, $50 west 5Sth Sc.
Pioneer school Tor lndlvidual ATTENTION Two
Regent MI' Counts Phone 7ta G tS a"
MIR: CARPENTER's SCHOOL FOR BOYS.
SlO-SE West End Ave, Tel. Col. tSu
l4th Year Opens oct. S. 1919.
Outdoor exercise 90 TO all winter.
COLLEG IATE SCHOOL FOR BOYS.
2ii-2i3 W 77th Street
A College Preparatory school
with strong Primary and Junior Grades
LAWRENCE SMITH SCHOOL
FOR BOYS.
"a FAST 65rlf STREET.
Clement Lawrence smith, ~ M rrihcipal.
CLAsON POINT MILITARY ACADEMY
In no mere park; Bronx n y. CITY. catholic
iege or bus, Rev. Br rdmnnd. Pr(n. Caalog'
RIyERDALE COUNTRY SCHOOL
- Acres, near Van Cortlandt PIX at 253d st.
Day & Boarding Boys. I. $. Hsckett, Head
master. Intimate teaching by SCHOLARLY Men.
YOUNG LADIES AND GIRLS.
,J-~-~~~~-~~~--~--~~~~-~-~ -~~~~>-~~~-~~~~~~~~~~
DE Langley sCcnooL FOR GIRLS:
"fsi EnS AgS 1n S rel 7o ssses
and College Prep Boys Elementary Dept
Drive. Primary 10 POSTCARD, College prep, and
ncadem mic courses, seh year; Opens Oct I'm.
NEW YORK COLLEGIATE INSTITUTE.
MI. Mary schoonmaker's school for Girls
845 West End Az, near II 81 Tel 1888 Schuy.
Kdgn.t to college. Endorsed by State DeptotEd
RIVERSIDE SCHOOL.
$40 West End Ave. Corner 1891 81.
Kindergarten. Elementary. Hgh School and
College preparatlon. Tel go River.
BOTH SEXES.
>---~~~>~----->~--~-~-----~-~~
ETHICAL CULTURE SCHOOL.
Central Park West and Slxty-third Street.
From kindergarten 10 College.
Athletic Field. Open Air Department
HORACE MANN SCHOOL.
Teachers COLLEGE, Columbia University.
High school for Girls. Elementary Tor Boys
The Brown school OF Tutoring. 2Sp-24l W.
18th st. Phone Col $500. Separate buildings
for boys and girls No classes. All day
study supervision, Two years work In one.
THIS DIRECTORY APPEARS DA LY
sUNnAr. RATES ON REQUEST:
THE SCHOOL, COLLEGE AND CAMP
RVRFAV. ". Y. sun. ". Y, CITY.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-21
WILLARDURGES
A TEN PER CENT.
RATEADVANCE
Charles A. COnant Shows FL
feet Of War on the
Railroads.
FREDERICK STRAUSS
FOR QUICK ACTION

WASHINGTON. oct. 20.-The Interstate
Commerce Commission resumed consider
alton OF the reopened rate case to-day
with Daniel willard. president OF the
Baltimore and Ohio Railroad Charles A.
Conant. an expert. and Frederick Strauss
Of J. 4 ". Se,igman. representing the
Investment Bankers Association. as wit
nesse-
As at yesterdays hearing members of tho
commission showed very critical atti-
tudc toward the application of the rail
roads Mr. willard. however. elected
from Commits si1uer McChord the signif-
cant Acknowledgement that the APPLICATION
Of the carriers for an increase WIS IA
vored generally throughout the country
Mr.. Conart. who was called to the
stand by the carriers advocated favorable
HctNn on the application for an increase
in freight rates for the th'rty-eight East
ern carriers In view OF tho effect Il would
have In protecting American railway Sc
curities. lie contended that Industrial
and other corporations are Interested In
such action because OF the effect Of rail-
road prosperity on them.
Mr.. Strauss advocated the granting Of
the increase for the purpose OF UNFOLDING
credit and helping 10 prevent the flooding
OF the American market with railroad
securities from abroad.
The indications are now that the hear
ing will continue during the remainder OF
the week. and perhaps longer.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-04-04

The III Culture riuh held their rrgu-
OAR session ar Nj Waltnn'~ TUESDAY
afternoon The hrmr Na~ beautiful.
~thc gifts of angels tu world weakly
souls fill,4l every available space. onc
particular bowl of Mar>halneil ro>r>
was ba.oud comparison.
Mr.. ". e.. Craig. thc president. being
OUT ~ town. The meeting was conducted
Ihy Mrs Tate. vicr president.
Roll call was responded Ia with sclcc-
t.ionS from poems ~ the Southern poet.
Sidney Lanicr. H. being the study of The
day.
Mrs. Orders paper ON Life and Char
lctrr ~ L.anicr" was made very interest
ing. Sidney Lanier and Mrs. Orders
father were friends and their lives were
similar. both having been ministers. "a
we'll ms G~corgianS.
4 musical number. one of Lanicr's
HYMNS. was rendered bv MeSdamcS
Gridcr. Bull. Beslciro and 4. l.. Mac
manuS. Several selections were given Of
Lanicr verse.
AIRS. B~lciru. who in early life had 4
trip On the Chaiahnochi. read the Song
of the Chatahoochi" plca>imely. Mrs.
Marmanu> gave NV spring in 4 lie
lightlul manner Mrs. Ward gave When
Love Found He'll" 4 specially pleasing
reading. The leader. Mrs. Graham. was.
a. usual. most charming Several ladies
were welcome visitors.
The club will meet next Tuesday with
Mrs. Jones and Mrs. Graham in West
brownsville. Father Ryan being the topi,
for the study period.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-04-04
LOCAL SALOONS OPEN
COUNTY SUPERINTENDENT or
SCHOOLS tANAIES SAYS M ELFE
TIGNS WE'RE HELD IN CITY.

on account Of the fact that NO school
trustee elections were held within The
CORPORATE limits ~ the city 81 Browns.
vile today. u. ri. Chnllc~. count, super
iniend,nt az schools. WAS ~ the opinion
that The saloons of this ciiy did Eot have
10 close.
I.nral Salnonmcn sought The opinion ~
attorneys Who they say declared that
since %" elections were bring held with.
ia the corporate limits ~ brownsville
they would not hc forced to close. Flee.
lions are being hchi IN MI the common
school districts Of the comfy. and two
independent districts. INfori and RAY.
mondyillr. IIarlin.@.n and san I,enfo
will hold their school trustee election,
the first Saturday in NLuy.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-04-04
THIRD ATTEMPT TO SELL
LOCK- MCDANIEL WILL TRY TO
SELL PLANT OF ONO X TENAS
SUGAR co.

For the third time ~ effort will w
made Tuesday afternoon 90 sell tho plant
IF the Ohio n Texas Sugar Mamufartzr
Ing Co located near brownsville. ~ anc
ii"n. The sale will hc made 10 the east
door ~ the county courthouse Tuc.day
afternoon 40 ! o'clock ~ Lock Mcdaniel
ni Houston. master ia chanrcry.
The first aud second attempts resulted
ia In bids being received. minimum Nj.
Hrrs having been fixed ~ Sl.In0On and
Sluu hh. This time The minimum has
been placed III S1J.tHa.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-04-04
NOTICE To CONTRACTORS.

Bids will he received up 10 :; y. m. on
Mpndav. April q. 1911. by the CITY Of
Brownsville. for all work necessary for
river protection between 18th and nth
streets of Lever streets. Plans and spe-
cifications can been seen at the office
of the CITY Engineer. Merchants Nation
nj Bank h.ildins. This work will he paid
in city script or IN cash al the option
~ the city council and bids must he sub
mittcd accordingly. The city council RI
serves the right Ia reject any and all
bids.
~CRISANTO NILLAREAL.
Alt. Cit. Secretary.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-04-04
Deafness Cannot Be Cured

by local applications. rs they cannot
reach the diseased portion OF the ear.
There ~ only one way % cure deafness.
and that is by constitutional remedies.
Deafness il caused by an inflam.d condi-
ton OF the mucous lining Of the Eusia-
chan Tube. When this tube II infamed
hearing. and when IL Is entirely closed,
DEAFNESS h. the result. and unless the in
fiammailon can be- taksn out and this
tube restored 10 It's normal condition.
heI. Ing will b. destroyed forever. nine
eases out of ten are caused by Catarrh.
which is nothing but an infiamcd condl-
tion az the mucous surfaces.
We viii give One Hundred Dollars FOR any
case 90 Deafness tcaused by catarrhl that
cannot be- cured hy Hans cafarrh cure.
send for circulars. free.
r. J CHENEY a CO. Toledo. Ohio.
Gold by Druggists. Use.
Take Halls Family pills for constipation.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-04-04
WRITE STORIES FOR
MOVING PICTURE PLAYS
New, Spare Time Profession for Men and
and Women-One Man Makes
$500 i'm Six Months.

Owing to The large number Of new mo
iicn picture theaterS which are being
throughout the country. there IL
offered to the men and women nf today
a new profession. namely that of writ
ing moving picture plays. Producers are
paving from 80 To- Sl50 for each seen
lrio accepted. upon which they can build
a photo play.
$500 IN SIN MONTHS.
As il only requires a few hours time IN
construct a complete play. YOU ear read
ily see the immense possibilities i'm this
work. One man who gave the idea 4
TROUT. writes that he earned $500 in six
months 1t H. possible for an intelligent
person ~ meet with equal success.
One feature If the work that should
appeal to everyone. j. that the work may
he done M home in spare time. No liter
airy ability j. required and women have
rs great an opportunity 4 men. Ideas
for plots are constantly turning NJ ana
may b. put ia a scenario form and sold
for a good price.
PARTICULARS SENT FREE.
Complete particulars of this most in
tcrestins and profitable profession may
be had free Of charge by Scndin. a post
card TO
ASSOCIATION
Box los. Wilkcsbarrc. ia.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-04-04

Mrs. JoTgcHScn.-IS prepared 10 work
M home or bv appointment. Shampncing
hairlicSing manicurine. scalp treatment
Facial massage. childrrn's hiircuiting.
romhinas made into switches and trans
formations If ail kinds Of hair goods
"a 1901 Washington street. or phone .hTb
ADV. ~ 1Ot