davidaulloa/AmericanStories huggingface dataset:
The L'Anse sentinel., 1915-12-18

French loan may have studied the
Cooke methods. The governments
~five-twenty" loan was authorized in
February, 1862. II remained on the
market nearly year without success,
despite various efforts of Secretary
Chase to negotiate it. He solicited
offers in New York, but the condition
of the money market at the time was
such that most of the bids were at a
considerable discount below par. In
fact, there was not sufficient currency
in New York to absorb the loan rapid
ly enough to supply the wants of the
government.
1t became evident that IL the loan
were to be taken it would be only
through popularizing 1t, by seeking
purchasers among the masses Of the
people in all parts of the country. and
no longer merely upon the capital ac-
cumulated in the money centers.
How was this to be done? The treas
ury department was not adapted to
the management of business of that
character. There were no officers
who could be charged with the under.
taking. All the bureaus were over
crowded. with overworked employees.
Besfdes. the laws regulating the re.
ceipts and disbursements of public
moneys presented insuperable barriers
to direct negotiation of the loan be.
tween. the treasury department and
the people.
When these difficulties became OBJ,
vious Secretary Chase decided to re.
sort to private enterprise and selected
Jay Cooke of Philadelphia, head of
the banking house of Jay Cooke & Co.,
as special agent for the treasury de.
partment in disposing of the bonds.
Mr.. Cooke attacked the work with
vigor and enthusiasm. Under his man.
agement there was organized vast
machinery that resulted in the enlist
ing OF every bank and banker and al
most every newspaper in the northern
states in advocating the loan. He con
Quoted publicity campaign which ur
to that time was probably without q
parallel.
The bonds were issued in denomina
tions Of $50. 500, $500 and $1,000, and
It was estimated that at least three
million persons subscribed for the
loan in amounts ranging from $50 t.
sums In six figures.
The Cooke advertisements wer,
spirited and confident, rejecting tn,
vigorous character Of the man VIII,
wrote them. He kept the loan befor,
the people constantly.
His newspaper "broadsides" wer,
characterized by both originality an,
ingenuity. One Of his most effectiv,
efforts in the line of publicity ap
peared as a kind of farmers and me
chanics' catechism. entitled THE Bes
Way to Put Money Out at Interest.
Mr.. Cooke personally called upol
thA editors in Philadelphia and New
York to indoctrinate them with hi
The L'Anse sentinel., 1915-12-18
GATHERED FACTS.

Nearly ton Of wrist watches were
exhibition At recent convention
Of jewellers IN New York. The ma
jority Of persons" said one Of the sx-
hibitors. "call these sissy watches.
but this term win eventually be dis
credited--for enc thing, because the
oficers in the European war are de-
pending . great deal on wrist
watches" The convention. however.
~ . whole. did not sncourass he uss
" the innovation.
The L'Anse sentinel., 1915-12-18

quite simple. 1t consists of 2 by As for
studding and for rafters. The stud
ding is covered with drop siding, put
on in the usual way. The roof is Gov
cred with shingles nailed to ordinary
roofing strips. The supporting posts
are by 6. set firmly in the concrete
piers. so the cattle may hook each
other against them without knocking
them loose.
The attractive appearance of the
shed is due to the proportions and to
the rather wide projection of roof,
with a neat cornice.
The shed is painted to match the
barn in color. but it usually has a
white trim.
The L'Anse sentinel., 1915-12-18
CoNcpEU YARD

Floor Plan Of Corner Feeding shed.
same across the north. The ends are
16 feet, which gives depth Of 16 feet
on both sides OF the l. It is built with
concrete wall for foundation. and
right here IL something Of Importance.
The wooden sills are cemented to the
top of the wall by layer Of fresh
cement mortar. Bolts are embedded
into the wall which reach through the
sill and are threaded to use nuts and
washers, 20 the sill 10 forced down
into the layer Of fresh mortar, and
the mortar II troweled up against the
sfll. both inside and outside.
This 10 done carefully 20 - to pre-
vent the wind blowing through the
crack which otherwise would b
formed between the concrete wall and
the wooden ain.
Wind blowing through . crack
against an animal II likely to do more
harm than 70 let the animal stand ont
and take th5 fhll force of the wind. Il
y by using care IN regard 70 The little
The L'Anse sentinel., 1915-12-18
suIphurIo Acid.

In recent years sulphuric acid has
assumed such great Importance in an
Industrial and commercial way that
statistics showing the production are
now given out annually BY the United
States geological survey. This mate
rial II probably used In . greater Va
riety Of ways in the chemical arts
than any other substance. The most
important classes Of industry IN which
the consumption u sulphuric acid u
involved are the manufucture Of fsr-
tilissrs, the refining Of petroleurA
products. the iron, steel and coke N
.dustries, the mAnufacture Of nitro
eiycerin, csllu1oid and qimiler prpd-'
1dbtS. ara ID general mstallursieal sn4
chemical practioe.
The L'Anse sentinel., 1915-12-18


Since the stirring days in which Jay
Cooke achieved his financial triumphs
the processes by which the surplus
funds of the country find their way
into investment have been refined and
brought up to higher state of perfec-
tion. There exists in the economic
structure of the nation today q finan-
cial department of perfect machinery
which applies to the country's develop
ment the combined energy of the &c
cumulated savings of men and women
all over the land. Like the transmits
sion machinery of the modern indus
trial plant by which the heat units in
the coal bin are transformed to pounds
of energy in producing useful COM
modities. our banking system gathers
up the savings-the five hundred and
thousand dollar nest eggs-from myr-
lad thrifty homes. unites them In pow
erful funds of limitless energy and
puts them to work. It Is through the
operation of this machinery that rail-
roads and public utilities are financed,
industrial enterprise Is promoted and
the funds required to carry on state
and municipal improvements are
raised.
To gear this machinery up 80 that
large foreign loans can be arranged in
this country Is the problem now be-
fore the heads of the nations great
financial institutions.
From the very outset of the war
they have realized that nations of Eu.
rope. being engaged in the waste and
destruction of capital on prodigious
scale. would soon or late be knocking
at our doors and asking for financial
aid. That time has come England
and France sent some of their most
gifted financiers and men of affairs to
the United States on borrowing mis-
sion.
Baron Reading, lord chief justice OF
England. man Of extraordinary in.
tellect and forcefulness, often spoken
Of as Englands Disraeli of the TWEEN
tieth century; Sir Edward Holden. one
of the foremost joint-stock bankers of
London; Sir Henry B; Smith. an in
ternational banker of wide expert
ence; Octave Homberg of the French
foreign Office; Ernest Mallet, regent
of the Bank of France, and Basil B.
Blackett. British treasury expert
these are the men who came to ar
range for loan to be pledged jointly
by their respective countries.
In listening to their arguments the
American bankers constantly kept iu
mind the fact that In order to get the
people to invest in bonds of foreign ma.
tions they must first make them see
the advantages to be gained by lend
ing money abroad.
Obviously their position is not the
same as that which confronted Jay
Cooke. whose appeal for funds was.
after all, largely an appeal to the peo-
ple's patriotism.
Cold facts concerning foreign ex-
changes, the movement of the crops
and other phases of the country's bus
mess. vital as they are to general
prosperity. cannot be expected to
awaken the same enthusiasm as the
cry. "The Union must be preservedI''
Nevertheless. when the financial ma
chinery of the country IL onc4 set in
motion wonderful things can be &C
complished. Jay Cooke demonstrated
this.
The L'Anse sentinel., 1915-12-18

views. His brother, Henry Cooke, was
on terms of intimacy and friendship
with the correspondents congregated
at Washington and, SO we are told, In
vited them individually and in parties
to partake of the hospitalities Of his
splendid home in Georgetown.
Besides the countrywide publicity
carried on in the newspapers and mag
azines Cooke literally showered the
nation with show cards. posters, cir
culars, pamphlets and handbills, mar
velous variety of devices of the type
to catch the eyes of the people, i'm
press their minds and draw the money
from their pockets.
All the while travelling agents
secured the country from end to end
seeking money in the remotest corners
of the country. 1t was not long be-
fore the name of Jay Cooke became
known to every village and farm and
had only to be spoken by one Of his
solicitors to draw the carefully hoard
ed savings from their hidden recesses
as II by magic.
Night agencies at which mechanics,
mill workers and factory employees
could subscribe for the bonds were es-
tablished in all the large cities shortly
after Cooke received his appointment
for the "seven-thirty" loan. in Janu.
airy. 1865.
The Office of a coal and wood con.
Germ, real estate shack, or even the
front part of a corner saloon, answered
the purpose. so long as it gave the
| wage-earner an easy opportunity to
invest his surplus earnings in United
States bonds.
/ Nearly a score of these night agen.
cies were opened up in New York city,
Brooklyn and nearby New Jersey fac.
| tory centers and for weeks the seven
thirty" government furor continued at
high pitch.
The remarkable success which at
tended the employment of these meth.
ods fully justified their adoption.
Within less than eighteen months
after Jay Cooke took charge of the
distribution of the "five-twenty" loan
the enormous aggregate of $500.000.
900 had been diverted from the ordin.
airy channels of investment and trade
and turned over to the government
without serious. disturbance to the IN
dustrial or commercial interests of the
country.
In all the period the popularizins
machine was in action there was nc
serious pressure resulting upon the
money market. no exhaustion of this
resource relied. upon, no faltering OF
unevenness In the flow from thousand
rills which fed the constantly swell
ing current of the supply. In thus
popularizing the loan. distributing I,
among the people in all sections. oc
cupations and degrees of wealth. the
foundations were laid for future loans
and the national credit was placed or
broader and firmer basis than Il evel
The L'Anse sentinel., 1915-12-18
HOW TIE NOpIn RAISLD IA
huLION DOLLARS TOR WAR WHAtl.ls
EADIN0 rnanciers Of Great
Britain and France recent
ly negotiated q loan In the
United States for five hum
drod million doIIara.

QK0Q LA4AiAAOA 0Vs@@>cs
No attempt to raise such . vast
amount of money has been made In
this country since the days OF the
Civil war. Older heads in Wall street
recall the furore which attended the
successful distribution of two large
loans put out by this government
one for Ave hundred millions OF dol
lars and another for eight hundred and
thirty millions-to pay the expenses
incurred In the struggle to preserve
the Union.
Jay Cooke, the great financier OF
that period. engineered the fotatiou
of both loans and the machinery he or
ganized and set in motion for gather
ing up the savings of people and ex-
changing them for the governments
"f1ve-twenty" and "seven-thirty
bonds, while perhaps crude alongside
the highly perfected system of con-
ducting banking and investment busi-
ness which exists today. was marvel
GUS from the viewpoint OF results
achieved. He succeeded In speeding
up his system to the point where sub
scriptions for the bonds came in faster
than the treasury department could
supply the engraved certificates.
It has been suggested that the bank
ers who have negotiated the Anglo
The L'Anse sentinel., 1915-12-18

The prince of Wales has taken an
oath never to marry . German prin-
cess. The heir apparent to the Brit
ish throne. who IL directly Of Ger.
man stock. 10 quoted By the Paris
press - having formally registered .
vow that no German blood should bs
added 70 the British throne line Il be
could help Il II intend TO marry the
daughter ON an English peer" said
the young prince 20 friends rscsntly.
The prince has been servfiG with tho
Brit1sh hoodquastofs foece eomoWhogu
IN ne rsgioa q pe1k1rH
The L'Anse sentinel., 1915-12-18
Suitable Buildings Must Be Pro.
vided II Owner Would Get
the Best Results.
RAIN WORSE THAN DRY COLD
susssstIons Given Herr for the Prop
or Protection Of Animals Are the
Result Of Careful Study Of the
Requirements That Meet
the Situation.

Mr.. william A. Radford will answer
questions and give advice FREE OF
COST on all subjects pertaining to the
subject OF building work on the farm. for
the readers OF this paper. On account of
his Wide experience as Editor. Author and
Manufacturer. he IL. without doubt. the
highest authority on all these subjects.
ford. No. 1877 Prairie avenue. Chicago.
H.. and only inciose two-cent stamp for
reply.
The L'Anse sentinel., 1915-12-18
No Time to Be nIsturbed.

Goddard had gotten az, Tar, a. the
sixth hole and was all set for q three
foot putt. Only those who have played
golf know what m important moment
this is and how necessary II ID that
everybody and everything should be
quiet. Just - he brought the.head Of
the putter back TO hit the ball young
caddie came running up waving both
arms and yelling: Hey. -Mr. Goddard,
that 10 your factory In Long Island on
nrel" Goddard watched bis bali. 60
wide Of the cup ~ It least two feet.
then he turned to the oaddie and
aehed: spsa'tsypx. &nowasoougA 20
keep quist when . man \ trying =
puttfs
The L'Anse sentinel., 1915-12-18

the Greaf Con-
. fHcf Beftveen the States,
tie Federal Gox,ernmenf
0as in Dire Need Of Finds.
fer Others Had Failed TO
Raise the Sum, Jay Cooke,
Noted Financier, Sue
ceeded By a .NesO Method.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1915-08-03
MICHAEL CO.
CREDITORS TO
GET PAYMENT
Initial Dividends to Be Either
Twenty-Five or Thirty
Per Cent.

Creditors of Oscar Michael & Com
pany, with claims approXimating
$500, 900 will receive a first dividend
of twenty-five or thirty per cent. ac-
Cording to an agreement reached this
afternoon. A meeting of the credi-
tors was held in Bankruptcy Court
before Referee Atwood l.. De CCster
to hear the first report made by
Judge Cecil II. Mcmahon, trusteee
of the defunct dry goods store, at
Broad and Cedar streets
II was also agreed that Judge Mac
Mahon, as receiver, should be allowed
$4,000 for his services. John A. Bern
hard, David II. Bilder and Nathan
Bilder, of counsel for the receiver.
were awarded $4,000 altogether for
their services. There was no objec
tion made by creditors to the allow
ances asked for by the receiver and
his counsel.
John A. Miller, counsel for several
banks with claims against the Michael
concern, said he felt the amount
asked by Judge MacMahon and his
counsel was reasonable. Other credi
tors expressed the same opinion and
said it was evident the estate had
been we'll managed by the attorneys.
This is rather refreshing Incl
dent" said Referee De Coster. "Usu-
ally when creditors give their opin
ions of allowances asked by lawyers,
criticism of the services rendered is
heard. The amounts asked by the re-
ceiver and his counsel will be granted.
in accor lance with the wishes of
creditors and views of the court"
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1915-08-03
BIG JUMP IN
RATABLES FOR
ESSEX COUNTY
Newark's Expected $2o,ooo,-
900 Increase Will Be Added
to by 100000.
COUNTY RATE OF 90
MAY BE RESULT ATTAINED
Newark Gets Ten Days of
Grace for Its
Returns.

An anticipated increase of 100000 =
900 in the ratables of Newark was
expected by the Essex County Board
of Taxation today to result In a
nearly $4,000, 900 increase in the rat
ables of Essex county. Such an in
crease would go a long way towards
helping out the plan of the Board of
Freeholders to put 100000 on the
county budget and still keep the
county tax rate fiat at SO plus.
The tax board today received re-
ports from the assessors of the va
rious municipalities on the 1915 val
uations. James j. Fltzsimmons. Sec
retary of the Newark tax board,
asked for a ten days extension, as
the revision of the books is not vet
complete, and was granted it. He
estimated the Newark increase would
be between fifteen and twenty mil
lions of dollars. The general belief
was that Newark would show $780,
100000 increase and the tax board
based its tentative estimate of the
county increase on this assumption.
The Newark ratables were doomed
by the Sll,000,000 increase i'm the Pru-
Dental valuation, announced recently.
The increase over 1914 is, then,
$50, ,73S,94O, with Caldwell and West
Caldwell and Cedar Grove unheard
from.
1t is expected that when the coun-
ty tax board has finished its revi-
sion of the figures the increase may
reach $29,OO0,00O.
Last year the increase over 1913
throughout the county was SIS, ,265, SIS
which makes the increase this year
at least 100000 900 more than last.
The Newark increase last year was
$S,S9S, $40, as against the anticipated
$40, 100000 gain this year
A feature of the reports to the board
was contained in that of the West
Orange assessors. This municipality
showed an increase of 1918, 900 despite
the disastrous Edison fire.
Irvington could make no report, but
estimated an increase of from one t.
two hundred thousand dollars, whicl
may be augmented by the count,
J board.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1915-08-03
British Win Ridge
at DardaneHes.
Improving Position
BY the Associated Press.

BY the Associated Press.
LONDON G:50 p. M. Aug. 3.--The
crest of the ridge in the Gallipoli
peninsula has been gained by Brit
ish troops and the position OF the
British in the Dardanelles has been
improved, according to statement
given out today by the official press
bureau.
The text of the statement follows
General Sir Ian Hamilton reports
on August 2 that on the right post
ton held by the Australian and New
Zealand corps, a successful attack
was carried out against network u
Turkish trenches, which was besIil-
ming to threaten the safety of = y
vanced post called Tasmania POSI-,
1.-The attack consisted of boln-
bardment of neighboring works aud
the explosion of three mines under
sections of a trench. These sectiona
were occupied at once.
"Another section was rushed Asth
the bayonet The Turks did not ceu.l-
ter attack At least seventy Turks
We're killed In and around the works
1.-THE result has been to gain thc
crest of the ridge and it has gener-
ally improved our position IN thas
section OF the line"
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1915-08-03
CHANCELLOR TO
BECOME PASTOR .
AT ST. JOSEPH'S
Rev. Chas. A. Smith Will Sue
ceed Late Rev. George
Corrigan.

Although no official announcement
has been made, it was said today thai
Rev. Charles A. Smith, chancellor of
the diocese of Newark, has been
selected by Bishop John J. O'Connor
for the irremovable rectorship of st
Josephs Church. this city, to succeed
the late Rev George Corrigan.
1t is expected Rev. DR.. John A.
Duffy, professor of history at Seton
Hall College, will succeed Father
Smith as chancellor.
Father Smith, who is a brother of
Rev. James P. Smith. rector of st.
Peters Churen, Bellevllle. has been
chancellor since 1905, when he was
appointed to succeed the late Rev.
Thomas A. Wallace. He was born in
Washington, ID. c., In 1871. He re-
ceived his preliminary education in
st. Bridget's Parochial School, Jersey
City. He was graduated from st.
Peters College, Jersey City, and later
Seton Hall College. Father Smith
took his theological course in the
American College in Rome, He was
ordained on May 80, 1896. On return
ing to this country he VAS made as
sistant rector at St Mary's Church
Jersey City. About nine years later
he became rector of the Church OF
the Holy Trinity, Westfield.
Two of Father Smiths sisters are
members of the order of Sisters OF
Charity. They are Sister Maria DE
Sales, superior at st. Margaret S
Convent. Morristown. and Sister
Agnes Theresa. superior at st, Co
lumbas Convent. this city.
Rev. Dr. Duffy has been co1nected
with Seton Hall College for about six
years. He was born in Jersey City
and attended the Jersey City High
School and completed his education
at Seton Hall College. Like Father
Smith he was sent to the American
College in Rome for his theological
studies and was ordained there. He
was an assistant rector of Our Lady
of Grace Church. Hoboken, for sew
eraI months on his return from Rome
and was then appointed to his present
position at Seton Hall. He has a
brother, Rev. Mark Duffy. OF Bay
onnc.
Rev. Edward +. Quirk, who has
been acting pastor of st. Joseph S
Church since the death of Father Cor
rigan, on May 25. will be transferred
to a parish in Jersey City. Father
Quirk is a chaplain In the police de-
partment. He has been stationed in
st. Josephs parish since his ordina-
tion in 1908.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1915-08-03
NEXT j. S. NOTE
To BRITAIN To Be
MOST IMPORTANT
Relations With Germany as
Well as England May
Depend Upon 1t.

WASHINGTON, Aug. 3.-America's
next note to Great Britain will be the
most important the former has writ
ten since the European war began.
diplomats. here were saying today.
on it, it was pointed out, will depend
not only Americas relations with
Great Britain. but with Germany, too.
Though it had not yet been made
public officially, it was known def
initely that the British communica-
ton fatty refused to recognize the
rights claimed by the United States
concerning American shipping on the
high seas.
fhe Anglo was consider
ably less satisfactory than the Ger
man. American situation, it was con-
oeded by men close to the administra-
ton.
Watch u. s. Attitude,
Germany, indeed, they said, has not
officially acceded to Americas marine
warfare demands. but in actual prac-
tice she has conformed to them. 1t
was the general opinion that this was
only pending the outcome of the
Anglo American negotiations.
If America takes as determined a
tone toward the British as she did
toward Germany, the prediction was
made that formal acquieScence
from Berlin may fairly be expected in
American requirements concerning
submarine warfare methods. AT least.
1 it was said the kaisers undersea
commanders presumably will be as
mindful of neutrals' lives in actual
practice as they have been in the
! past two months.
! on the other hand, it was asserted,
an American failure to deal firmly
with the London foreign office prob
! ably will lie represented in Berlin as
/ proving partiality on the Washington
| administration part for British as
/ against the Germans, which is quite
! likely to be a German return from
/ its early Indifference to neatrals
safety in the war zone.
Believe Strong Note Certain.
Under the circumstances, close OBJ
/ servers of the situation were of the
! opinion that n very Strong" note
/ 10 London was certain.
In any event, officials said they
feared tremendous pressure by Ameri-
can exporting interests, cotton espe-
cially, which have been clamoring for
an embargo on all sorts of shipments
TO the allies until the order In council
is modified
Time for the publication of three
notes from Great Britain and the one
from Germany, all dealing with the
commercial rights of neutral nations
i'm war times. was being arranged to-
day The British note probably will
be given ont late today for publi-
cation tomorrow morning and the
German note Thursday morning.
orders in council. the second justi-
fies the allies efforts to cut off Ger
many's export trade and the third
defends prize court proceedings The
German note continues the discus
sion over the sinking of the Ameri-
can ship William =. Frye, and is said
to Justify Germanys course in sink
ing merchant ships, provided she
pays for them