davidaulloa/AmericanStories huggingface dataset:
Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1916-05-19
The Hot Springs Weekly Star
w. A. Warner. Publishss.

Official City Paper
TERMS:
$3.50 PER YEAR IN ADVANCE
Otherwise as Follows;
One Year ......S3.oo Six Months. .... 81 90
Three Months. so cts
The STAR is published every Friday.
Short, newsy communications and local news
items are cordially solicited.
Entered at the postof6ce at Hot Springs, South
Dakota, as second class mail matter.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
American Capital for the Rand.

IRON NJ LcNbOt sNt'os'
\ further project TO introduce
American capital for the development
Of dormant areas on the Far Eastern
Rand is under discussion. Recently
the Randiontain Extensions Limited
acquired claims in this district on the
same line OF reef as runs through the
Sub-Nigol property. but a proposal for
the amalgamation of these claims with
an adjoining property emanating from
johannesburg proved abortive. A pre-
liminary proposal has recently been
put forward by an American syndicate
10 find the capital to develop and equip
the property. Some months ago Messrs.
Lewis and Marks arranged for an i'm
portant American group TO provide cap
ital for the exploitation OF their prop
critics on the Eastern Rand. but some
delay has occurred in putting this
scheme into operation owing. IL is
understood. 20 the necessity Of dis
oussinc the question Of taxation with
the Union Government.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
Monday, October 2, 1916.

Imagination runs upon a plane.
Therefore it is hazardous, for l:fe IS
not geometrical experiment. There
IS danger in simple projections. We
are in the way of capitalizing the
present. Men deny this who them
selves are doing it. The thing Is
unconscious partly. During the first
year of war Stock Exchange prices
declined on German victories be-
cause they we're construed as tend
ing to prolong the contest. So long as
that happened one could say that the
adaptation TO a condition of war was
incomplete. 1t happened less and
less and then ceased altogether. and
row any event tending to suggest a
sudden termination Of the war would
probably cause prices to fall not
only in Wall Street, but in London,
in Paris, in Berlin, in Toxic,
wherever the profits Of war business
had got themselves capitalized in
share quotations.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
RIPLEY URGES FIGHT
ON 8.HOUR LAW
Stockholders of Atchison Re-
ceive Another Manifesto.

+. 7. Ripley, president Of the Atchi-
son, Topeka & Santa Fe, has issued
another manifesto voicing his opposi-
ton 20 the eight-hour law passed az
the last session OF Congress. This is
in the form OF an appeal TO the com
pany's stockholders TO urge legislation
that viii prevent a repetition Of the
scene where toe highest lawmakirg
body OF the land was forced to accede
20 the demands Of the four railroad
brotherhoods 20 prevent general tie
up Of traffic.
After reviewing the events leading
up to the passage OF the eight-hour
law, which he declares leaves the rec
concentration o. the Pres:den. to Con-
gress of an increase in freight rates
in allegiance Mr.. Ridley says:
The result appears To be that. according
20 he yieV' OF the government, IL i under
existing laws poTeress 20 protect the pub
lie aga:nst any nationwide combination on
the par, Of railroad employees 20 psralyz re
d. rtfl4f al ilf TtiECabr w nv GUILTY.
II tti, view IL correct. il must he on tie
theory that tic Clay ton act which was
passed and approved about two years ago
wss intended n and does facilitate strikes
~ the expense OF the public by freeing
from restraint and punishment hny con
spira-y. no mater how widespread or IN
reasonable N rarslyzc IS strikes the rail
transportation vpon which the public j. d.
pendent
InGer this visv ~ existing Law upon
which tho government seems To have srted.
Il appear that until some remedial legb-
lation shall be adopted the only va tn
avert such tic-ups Is for Congress 70 grant
b. special legislation whateyer demand.
labor combinations MAJ insist upon as Their
price ior permitting the people to continue
TO enjoy railvay transportation.
The questio therefore becomes Of pro-
found importance 10 you. both a. citizen
depending upon railroad ansportation and
as a holder Of railroad stocs. to consider
VIA. can be done 20 obtain necessary re-
medal legislation.
This company believes that the act which
Congress has passed Is unconstitutional and
that steps should be taken 10 resist 1t in
every lawful manner.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02

Wall Street is rot discounting the
future. It is projecting the present.
i: is capitalizing the profits derived
from war custom. Speculation OF
this character is an aid TO what may
be called a process of disqualification.
The mind is soon accustomed to the
abnormal, which then becomes nor
nal. 4 Spectator secs Steel COM
mon 20 from SO 20 100 in a few
weeks and says people are mad. But
II Steel common should 20 suddenly
from 100 back to so he himself
would be in a panic, even though he
had no direct interest in the stock.
Two years ago no farmer could have
imagined an eating price for wheat
as high as S1.25; but, having seen
the world clamor for wheat at Sl.oO
per bushel, a price Of Sl.25 would
seem TO all farmers ruinously low
And because expectations crystalline
50 easily, change cannot take place
without a smashing of many beauti-
full crystals. Change is blind and
deaf.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
GOLD THAT IS
IN COAL GAS
Results of the Largest By
Product Coke Plant
Eagerly Awaited.
Pittsburgh, September 90.

ft-tSOnryN, Depte"toT 80
Progress on the by-product coke
plant of the Steel Corporation at Clair
ton, Just above Pittsburgh on the Mo-
nongahela River, is as rapid as posi-
Bile under the handicap OF labor short
age. The plans contemplate an ulti-
mate capacity OF $4,000 tons Of coal
day, and when completed it will be the
most important by-product coke piant
on this continent. Much interest is
manifested in il because OF its posi-
bic bearing upon the beehive product
OF the Connellsville region, in v'h!ca
the Steel Corporation is the chief fac
tor. No nice calculations have been
made. or at least they are not availa-
Bile for the general public. rs to the
comparative financial results Of the
enterprise. Those who should know
have declared that statements to the
effect that in the output OF the plant
coke will become by-product are ab-
surd.
II We were TO have European war
conditions indefinitely, and abnormal
prices for chemicals, ETC., were to be
depended upon, then it is possible that
the value Of these products would
equal the market value OF coke pro-
duced. But the Steel Corporation is
not calculating upon the continuance
of current prices for the by-products.
An authority in the trade made the
statement that under normal cordi-
tions il is calculated that the profits
or savings Of the new process will alb
sorb the present freight from the
Connellsville region on coke shipments
and that any decrease in consumption
by the Steel Corporation of Connells-
Vile coke will be more than Offset
b. the increased requirements of new
industries, which are expanding as
never before.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02

Business is the aggregate phe-
nomena Of mans reaction TO circum-
stances. Its power of adaptation,
therefore, is equal to that Of man
himself, which, so far as We know, Is
infinite. There is s. popular notion
that business is much governed by
speculation-that is TO say, by
thought Of what will take place in
the future. That is not the case.
II is almost never prepared for what
happens. It only makes the best Of
it. Business has adapted itself to
war, as if that were the normal
state Of modern existence. 1t was
unprepared for war. Peace is GER
tain, but there is almost no prepare
ton for IL. There is not time. Men
cannot be detached from the bust
ress Of war 10 attend beforehand TO
the business Of peace; besides which
nCDO0T kilONS nH'Il P'oN' WIN 'p'N
CT what it will be like. The war
itself was impossible until it had
happened. Then people said all Of
one accord that il would be short
War on 30 vast a scale could not be
financed. A war machine which had
taken years 10 build, once having
smashed itself, could not be at once
rebuilt for lack Of time and energy.
Therefore, the issue would haze TO
be decided on one wild and headlong
impulse. Now, after more than two
years, 1t is easier 10 think Of its
going on than 10 imagine It's ending
at AZ. In that time the original
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02

war machine has been rebuilt several
times, each time on much larger
plan, and the cost has exceeded any
thing that could have been dreamed
of in the mind Of an economist. The
chairman Of the United States Steel
Corporation. returning from abroad,
says the end seems further off than
it did twelve months ago. 1t does.
The British Secretary for War says
England has just begun to fight.
There is neither clock nor calendar.
There is no delusion that the end is
near. The German menace must be
utterly eliminated. On the other
side. the Imperial German Chan
oellor calls attention 10 the technica!
difficulty Of crushing 100000
people who, by the grace Of Provi-
donce and their own efficiency, are
facing the third year with ap-
parently more food than they had in
the second, and who, so long as they
are not hungry, may be expected to
90 on fighting. Or did the world
ever think national bankruptcy
would stop the war? 1t has ceased
to think so. Solvency is a word.
When the British Loan Commits
sioners a year ago had arranged IN
this country an Anglo-French loan
at a cost of 6 per cent they were
popularly denounced for having
given away British credit. To-day
the British government is paying b
rer cent for credit at home and 1t
seems natural and inevitable. You
couldn't have imagined British
credit at per cent Only few
weeks ago the thought of the Bank
cf England having to suspend specie
payments would have caused cold
tbiils to run up and down the spine
Of the whole financial world. But
once it begins 70 be discussed as a
possibility, the interest in It IS
almost academic. If it is necessary,
why, Of course it will be done. The
consequences will have TO take care
of themselves, for this is war.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
Post. Bellum Financing.

General Manager Arid Of the Cana
dian Bank OF Commerce expresses the
view that after the war is over Great
Britain will make arrangements TO
issue one great imperial loan covering
all tho loans that have been made dur
ing the war period TO Great Britain,
Canada. Australia and other British
dominions, AZ about per cent. be
cause II would bc long term loan,
for fifty years or even a hundred
years. but in this way he thought the
whole problem could be settled to the
satisfaction OF all parties. and IL would
have the effect Of relieving the immc-
date pressure when some OF these
loans would have to be met in the
usual way.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
ILLINOIS CENTRAL'S
EARNINGS A RECORD
Larger Maintenance Expense
Holds Down Gain in Net.

Like other Western railroad sys-
tens that have issued their reports
covering operations for the fiscal year
ended June so last. the Illinois Central
in its annual statement shows the
largest gross earnings in the company's
history. Net operating revenues do
rot quite equal the high record 'or
earning power established in the year
1907. but with that exception are the
largest ever reported. The income &C
count was as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02

was cut to $3.276.6l4. The jump in
the expense account was due entirely
to the larger expenditures for mainte-
nance. the increase there being 1924
22l.
Larger expenditures for maintenance
OF way and structure were due 10 the
damage done b. the tornado and high
water near New Orleans in October.
1915 The greater portion OF the in
crease in maintenance Of equipment
was attributed to heavier charges for
repairs. depreciation and retirement o.
freight cars.
Last years income available for divi-
dcnds WAS $ll,S07,565. the equivalent
OF l0S per cent on the sl09 pol .7i6
capital stock outstanding. against 81
per cent earned in 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
Springfield, Mass, September so.

Agricultural New England and in
dustrial New England are each trying
seriously to understand the others
needs. The organization here OF the
Eastern States Agricultural and Indus
trial Exposition, in connection with
which the National Dairy Show will be
held, from October IL to 81, has an i'm
portant bearing on problems engaging
the attention OF both the worker in the
factory and the man on the farm. Here
tofore the dairy show has always been
held at Chicago, where it originated
ten years ago.
An influential group of business men,
bankers. agricultural experts, farmers
organizations and public officials is
behind this movement TO revive Interest
in agricultural Development. Their ar
gument is that if New England farmers
can be shown iow 10 increase their
dairy herds and other farm operations
with a prof. to themselves and an ac-
companying gain in the fertility Of the
soil. everybody In that section will be
benefited.
The exposition is expected 20 afford
an opportunity for an interchange Of
ideas and the working out OF methods
that will result in practical betterment
o, farming as business and improve
the relation Of the farmer 20 the COM
munity.
New England industrial supremacy,
It is contended, is threatened because
Of its rapidly declining agriculture.
Only a small proportion Of the food
stuffs consumed in the New England
States is produced at home. Massa-
chusetts to-day imports from the South
and West more than 20 per cent OF the
food products it's population consumes,
while Connecticut and Rhode Island
each bring in from the outside still
larger proportion Of their food sup
plies.
The extra cos. OF importation from
distant points is added 70 what the fac
tory worker and tho millhand pa for
their food. end TIE increasing tendency
Of this cost in recent years has result
Ell in constant demand for higher
wages. Relief for this situation would
seem to lie in raising at home more Of
u.ha. the nonulation consume
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02

Until a few months ago Specu-
lators refrained from buying securi-
ties that on their earnings were
worth much more than they sold
for, saying: "But this will not
last" Now, at very much higher
prices, they buy the same stocks,
saying "But who knows when it will
end?' There arises next ? sophistry
like this: What if it does end?
We have the money and we shall
continue to prosper whatever hap
pens. Europe will have to he re-
built. This is the only country that
can supply the materials" 1t is the
wish that sires the thought. No
speculator would dream Of buying
United States Steel common for the
profit that might be made on the
tonnage required TO rebuild Europe.
Nobody knows when the rebuilding
Ct Europe will begin, or when, or
under whose auspices, or whether,
indeed, Europe will REQUIRE TO be
built at all. Much less Of it has
been destroyed than We are pleased
Economically to suppose, and more
of what has been destroyed has
oIro.dv been restored than most
people would believe. Add to this
the fact that the productive capacity
Of all Europe at the present time
is far greater than was ever the
case before, and you have at least
the probability that she will be able
to rebuild herself. IL is possible to
believe that while doing it she will
be able also to compete with US for
foreign trade.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
New England Becomes Con-
scious of Her Stomach
The Supremacy of Her Industrial Life Is Threatened by
High Food Costs Due to Decline in Agriculture.

about 10000. In 1850 the rural popu-
lation was 1856 700, and in 1910 1897
800, while the urban population in 1880
was 2,754 900, and in 1910 5,455 900, an
increase of nearly 100 per cent.
Number of Farms Decreases.
The number Of farms in New Eng
land has slightly decreased in the last
thirty years-from 207 900 in 1880 to
1873, 900 in 1910. The census shows that
the average size OF farms was approx
mately the same in 1910 as in 1880,
but the number OF acres of improved
land in farms has decreased from 49,,
100000 to 100000 acres, the average
number of acres Of improved land to
the farm in 1880 being 66.4 per cent,
while the average in 1910 was 3S.4 per
cent. There has been an increase in
the number OF small sized farms and
decrease in the number o. large hold
ings, due principally to the growth Of
the intensive system of agriculture.
The rapid decrease in sheep raising
which occurred between The years OF
1850 and 1910, from $4,000 to 100000,
accounts for the addition OF 100000
acres OF land 20 the unim9rovcd CLASH
fcation. The tendency since 1910 has
been toward an increased acreage Of
cereals, and the yield per acre has in
creased as the result OF improvement
in agricultural methods. While there
was a decrease in the number 0! cattle
in New England in the period from
1880 to 1910, there has been an up
ward tendency during the last six
years. There were l,l6S,000 in 1910
and 1881 900 in 1916, and likewise the
number Of swine has shown marked
tendency 10 increase in recent years,
The number reported in 1910 being 362,-
600. while the number in 1916 is AGO.
600. The yield Of tobacco has nearly
trebled. and that of potatoes has been
doubled during the period under con-
siderstion. In both cases the area de-
voted TO production has been about
doubled.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02

The psychology OF rising prices Is
curious. People are led to believe
that higher prices are inevitable. and
then assist to bring them about by
rushing madly in to buy. They may
buy for speculation or for protection,
or both. In any case, whether they
are buying securities or commodities,
they force the market up on them
selves. and in the end there results q
kind Of inverted panic. In the cop
per market at the moment there is a
manifestation Of this in the expand
ing demand from domestic consum-
ers. who, believing the huge order
Just placed by the Allies spells high
er prices ahead, are buying against
the future. The same may be said
of the market for other basic COM
moditics. The widespread belief OF
the cotton trade in higher prices
stimulates buying. "The American
Wool and Cotton Reporter says:
There is being laid at present the
basis for one of the most speculative
cotton goods and cotton markets ever
seen. What is Turkey 20 do since
she has not been able 70 purchase
anything like the quantities ordi-
narily noted? What is Germany TO do,
and Austria. and some OF the other
countries which have heen economiz'
ing TO the greatest extent possible .
The immediate demand for goods Will
be so large that buying will start
with rush, and speculation will
then do the rest, and probably the
orders on hand WIFI be so large that
il will take year or even more TO
complete them.
In the coal market BLACK Dia-
mond" says:
Indications arc that the demand for
this year will be 80 per cent in eX-
cess Of the market demand in 1915
and 20 per cent in excess OF the
banner coal year in 1918. This means
clearly and Enthusiastically that the
coal trade has gigantic task to per-
form and has not the men with which
70 do il or the railroad equipment TO
carry the coal away when once it Is
mined Under the circumstance
there may be some who can see ahead
some relief from high prices on coal.
Our own vision is not sufficiently far
sighted TO see clearly that period,
especially this year.
Iron and steel prices are the high
est in history, yet this fact seems
only TO increase the clamor to buy.
The average price of leading steel
products now stands at S62 ton,
compared with s33 year ago.
Nevertheless. orders are coming in to
the mills at a rate far in excess Of
that Of last year at this time. The
situation here is summed up in this
fashion by trade authority:
Extraordinary prosperity continues
20 demoralize the steel industry.
Mills are making little Roadway in
catching up with their deliveries.
Steel prices are expected 10 be ad-
vanced all along the line next month.
Consumption is not perceptibly
diminished in any direction. In the
footwear trade the fact that high
prices do not seem TO appreciably
lessen the buying is spoken Of as the
central feature. And this is perhaps
the strangcst fact Of all, seeing
how little people need to walk any
more. The automobile is the only
thing that has fallen.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
Special Production Dangerous.

That further progress can be made
is obvious, and experts are in suostan-
tial agreement that extreme specialiIa-
ton and exclusive reliance on special
production are dangerous. They see the
possibility of many Improvements IN
farm machinery, the need of fuller
consideration by each farmer Of his
entire farming economy and the better
utilization OF his labor throughout the
year ard Of improvements in processes
Of production and in the marketing OF
farm products. By the employment OF
proper methods still greater advance
can he made in livestock directions;
The sheen industry might be revived
TO a considerable extent II the mutton
feature we're emphasized.
While New England has long been
known as the centre OF poultry produc..
tion ard j. famous for the quality or
poultry and eggs produced for market
ing. still there is not enough local pro-
duction Of either poultry or eggs to
supply the demands of the great INDUS
trial centres Of population, and large
amounts are imported from the surplus
producing sections Of the Middle West
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-02
The Farmers Complaint.

The farmer also raises the question
OF wages. lie is wont 10 complain that
the prices received for his product do
not compensate him for the labor and
trouble Of production.
Some Of the leading sgriculturists in
this section maintain that the problem
% the farmer TO-DAY is question Of
distribution more than Of processes
and methods Of production. As the re-
suit OF the splendid work OF the agri-
cultural experiment stations and col
leges in the last quarter o. century.
production on the farm, trey hold. has
measurabiy approached factory produc-
ton in the scientific. determination Of
efficient methods and in definite assur-
ance Of results.
The knowledge which will itself as
sure production can be had almost for
the asking. The reason that men now
on the farm neglect or refuse TO avail
themselves Of this knowledge is be-
cause there is no adequate reward in
view for their labors. The industry Of
agriculture lsnguishes because the
produced is far more uncertain than
tho size and quality of the cron.
Farmers do not exert themselves to
produce crops Of extraordinary quality
e Il ~
above the ordinary grade does not APP
probably affect the price they receive.
and il crop is large the price re-
ceived if often lower than it would be
il less were produced.
Population Drifts Cityward.
New England possesses so many sd-
vantages in industry that her activities
have been more peculiarly in this field
for many generations. She has become
a manufacturing and an urban section,
and this development has had marked
reaction on her rural life. II has
tended to draw larger and larger pro-
portions Of the population to the cities,
and for a considerable period, pending
a readjustment to changed conditions.
has had a disturbing effect on agricult-
ure. In recent years, through the
growth OF large centres Of population
and nearby markets, the tendency has
been 10 create more favorable condi-
tions for agricultural activities care
fully planned, with adequate methods
of production and systems of market
ing.
In the last thirty years the rural
population OF the New England States
ha. shown relatively little change
There has been an actual decrease of