davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
CURB PLAN TO GO
INDOORS APPROVED
Provides for Ticker Service and
Two Glasses of Members.

The special committee Of the NeF
York Curb Market Association appoint.
ed in February to formulate plans for
housing the outside market announce.
yesterday that its recommendation had
been approved by the board Of repre-
sentatives. Before the committee puts
its scheme into operation its proposals
will be submitted to all the members
Their ballots must be in By May 81
L. r. Mccormick, head of the special
committee and chairman OF the Cgro
Association, in his letter 10 the mem
bers said that while the Stock bx'
change did not approve or dsappro'e
any of the plans of the association the
committee of tiye, Of which William I.
Van Antwerp is chairman. bad assisted
in working out the proposed readJust'
ment. Some opposition 20 putting the
Curb under a roof. with q ticker ser
vice similar to that OF the "big board,
Is expected, but il is believed 10 viii not
be serious enough 20 defeat the plan
The accommodation Of the Clro
committee provide for two classes OF
membership in the association, regular
and associate. The regular member
ship will be limited 20 400. The ssso'
ciate membership will consist OF per-
sons engaged in the brokerage or bans.
ing business. This membership VII
not carry floor privileges or the right
TO vote.
Transfer fee Of regular members VII
be $500 and annual dues 500. lnlua'
ton fee for associate members will 0s
$3.50 and annual dues $50.
IL was recommended that the board
Of representatives be increased from
fifteen to twenty-one members and that
The complaint committee be called me
committee on business conduct
With the completion Of the Curb,
reorganization the chairman. Mr. Nc
Cormick, predicted yesterday that 90
this market would be listed the securi'
ties of many South American enter
prises now only traded n privately.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
Financial Circles Feel In
stinctiveIy That End of
War Is Near.
CHINESE MERCHANTS
TAKE S15,OOO,O0O LOAN
Rubber and Tin Protect0rates in
Malay States Give Testi-
mOny to Loyalty.
By FRANCIS W. HIRST.
Editor The Economist" London.

London. May 19.-Financial cir
Giles are talking more about peace
than ever. This may mean much or
nothing. For some reason or other,
perhaps mere instinct, men feel that
the end is not only chronologlcally
but logically mach nearer than 1t
was six months ago.
Sir Edward Grey's Chicago in
terview makes approaches easier be-
cause he dismissed as preposterous
the German statement that England
is trying to smash German unity or
&c prevent honorable peace. Nor did
nc reject neutral mediation, provld-
cd it brought forward a real basis Of
.ottlement which would give secur-
ity against future aggression.
The French Premier's speech on
he vote of cen5ure suggests sensa-
tional developments.
Meanwhile good stocks of the sec
ond rank are being bought, but war
costs and borrowings are too heavy
20 permit much more than firmness
for government securities. The I'M
berial S15,000,000 per cent war
loan has just been oversubscribed in
the Malay states mainly by local
Chinese merchants. This helps East
ern exchanges and affords eloquent
testimony of the prosperous loyalty
Of our rubber and tin protectorates.
My friend, Professor Miliukoff, is
very cheerful about Russia, but in
the financial district there is some
uneasiness over Russian finance.
The weakness OF the ruble is due to
excessive issues of paper. Kopek
notes. equivalent to a farthing, nave
been printed. Small papers are a
great mistake, but | am not aware
that paper notes have ever before
gone below the half franc in France,
where there are isues for local con-
sumption in many towns.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
MARINE CO. PLAN
HAS BEEN CHANGED
Amount Of New Note Issue Re-
duced-Offer Price Higher.

Important financial interests connect
ed with the efforts to take the Inter
national Mercantile Marine Company
out Of receivership declared yesterday
that the differences between the various
committees are growing less as the re-
suit of daily conferences.
Certain notifications have been made
in the plan recently submitted 10 the
bondholders by the preferred stock
holders committee. One of these has
TO do with the paying off Of the out
standing bonds. The tentative proposal
of the Wallace committee provided for
the sale of S2O,OOO,0OO per cent notes,
the proceeds Of which would be used 70
pay off about an equal amount OF the
bonds.
As the Wallace plan now stands IL is
proposed 20 reduce substantially the
amount Of the note issue and advance
the offering price to the Marine com
pany's stockholders to nearer par than
96. the figure previously agreed upon.
This decision was believed TO have been
reached because of the delay in bring
ing out the plan and the consequent in
crease in the cash resources of the
company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
CURB MARKET
TRANSACTIONS
Industrials Go Lower with rev
Firm Spots-Better Tone in
the Mining Section.

Though initial quotations in yester-
days curb dealings generally repre-
sented considerable firmness, number
of recent fayorites soon began to fall
back and the declines in few IN
stances at the close were heavy. Prices
generally weakened among the indus
trial list, though few held firm. The
sharpest break was in Chevrolet Mo-
tor, which made a maximum decline
Of II points, but recovered TO end at
22924, a loss of IA points on the day
CASTOR, Williams and Wigmore also
broke. closing at 81, low for the day
8I2 points down, in anticipation OF the
dissolution Of the underwriting syndi-
cate. Submarine Boat lost over a
point and briggs Seabury 3. Perlmsn
Rim. A weak issue on Thursday, i'm
proved 4 points. Tobacco stocks were
strong.
South Penn Oil made good response
10 the extra dividend announcement,
rising 20 points on fairly active bust
ness. Ohio Oil gained 3, and Sinclair
oil improved fractionally. better
tone prevailed in the mining section,
where trading was active in certain
utocka
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
U. S. Treasury Finances.

Washington. MAY 70. The condition Of the u d,
states Treasury o-dsy was.
Net balance On general fund. sl2t 1871 tots
rcccpts. g. $50 l6I. total payments. 81 is2 .6l9
Tho deceit this tscal year Is 81 ISL assinS
denri o. ST. . rs 1879 last year. exclusive Of Pan
ANA Canal and public debt transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
MONEY AND EXCHANGE.

rrDrRAT. RESERVE DISCOUNT RATES ELSE
wHERE-Bostou. for ten days. per cent: ten 10
thirty days 81 up 10 ninety days. q Fmladei pNa'
ten days. per cent. UP TO ninety days. 4; Cle'e-
land. ten DAYS 81 per cent; up to sixty DAYS .
sixty 10 ninety days. "A; Richmond. UP 10 ninety
DAYS. 4 per cent Atlanta. Up TO ninety days per
cent. Chicago. 81. 4 and "A per cent; St. Louis 8
and 4 per cent Minneapolis. UP 70 sixty DAYS
pe cent: sixty 20 ninety days. ~ Kansas CITY ten
DAYS. per cent: Up TO ninety days. M Dallas
4 per cent: san Francisco ten days. per cent
thirty DAYS. 81: thirty to sixty days 4. siID 10
ninety days. A
DOMESTIC EXCHANGE.-Chicsso. exchange par
ST louis exchange l5c discount BID loc discount
asked
Rank CIEARINGs baltimore. exchanges, 81
100 $50. balances tllH.SI8; boston. eIehsnges
S59652,s3l balances s. sl3l1j: Chicago. e11chanse'
sfs a21 421. balances SETTLES; funaucIpha' e.
changes s37.3S4. $50 balances $5.5S6.lSl.
SILVER NARKET.---Nev York quotation. iI5i5e,
an Increase ~ i4c. Mexican silver doAafs oo 2 q,
FoRE1GN ExcHANGE.-Ths whole market I'm
proved with demand sierling getting hack ane'e
1,ti. and sisbt rates. Ioldou--Csbe 4.76 II -l5;
demand AS l-l6. Ps-is-Cabe, 5s04t. chech.
59lia Berlin Cable !. e4iseS' Sg,.IS
- GrSencrc,rsble' II 8st check 1873 SIXTY
and ninety Jay bils-londoh 'psiAeIs j. SHY u4'''
A7ei. ninety days 47oA.
FEDERAL RESERVE DISCOUNT RATE.-Fof
pspcr maturing in ten days or less. per cent; up
10 ninety DAYS per cent.
CALL MONEY opened at per cent; highest. :
per cont lowest ia per cent: closing. yer cent;
renewal yer cent
TIME MONEY was easy. Rates ~ d2A per cent
Tor eiyfv 8. IA per cent for ninety days. 1854 per
cent for four dys and six months.
MERCANTILE PAPER was quiet Ruling rates
eftaft per cent for best names bsnk acceptaiiees.
ia - per cent
GLAZING HOUSE TRANSACTIONS - EI-
change s4-2 600 90: balances. S2l0li.23t. TIE
Sil Treasury was creditor % the amount oi >b>2las.
sTB TREASURY New York banks gained from
rr Sll. Treasury S25l 900. and gained since Fri
day $500. 900
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
INACTIVE STOCKS.

The following table gives the CLOSING
bid and asked prices for stocks whie'
are listed but which were not dealt 70
on the Stock Exchange Friday:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
LONDON MARKET
MORE CHEERFUL
Further Strength in. Investment
Issues, Shipping Shares and
Foreign Rails.

London, May 10. Further strength
and cheerfulness we're apparent on the
Stock Exchange again to-day. although
it was difficult to trace the actual rea-
sons beyond cheap money and the in
yestment of surplus funds from the
enormous profits accruing in various
industrial concerns in a market bare
of stocks. Brazilian issues were lead
ing features, with a further rise in
exchange. Shipping shares. foreign
rails and gilt-edged securities i'm
proved and Grand Trunk recovered
Yesterdays decline. Consols closed Is
higher at 57i,; the new way loan un-
changed al %.
American shares were also brighter
and frmer on Wall Street adyices. \
fair business was transacted, with
Reading the feature. The close was
firm.
The Bank Of England released $780,
900 IN sovereigns to Egypt.
Money was in fair demand and DIS
count rates were quiet. American eX-
change hardened. Money loaned at !
to a.: per cent. Discount rates for
short and three months bills were As
tc AZ per cent
Gold premium at Lisbon was 81
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
ANDREW J. MCCORMACK. Auctions.
REGULAR AUCTION SALE OF
STOCKS AND BONDS.
BY ADRIAN n. MULLER a son.
OFFICE. so IS WILLIAM ST
WEDNESDAY, NAY 2sTH. 1916.

~ 1880 O'Clock. - me
EXCHANGE SALESROOM.
NOS - AND IS VESEY STREET
For Account 81 Executors
20 shs. Sew York Trust TO-
2Zj shs. Argonsut Mining CO.
100 shs. Havana Tobacco 60. com
$50 shs. United Zinc Companies prefd
$50 shs. United Zinc Companies con.
1868 shs White Knob Copper & Dsgs'op.
ment 90. Ltd. prefd.. and $50 s-r'n.
1850 shs. white Knob Copper g. Develop.
ment 60. Ltd. com, and tfiI scrip
% shs. Brooklyn Ferry GO.
9js shs Hanco Asbestos Mining Co
1856 shs Ohio & Indiana Cons - Natural
Illuminating Gas 60.
1850 shs Old Colony Zinc & smelling %.
$500 shs Santiago Gold Mining 70
n shs Southern Round Bale Press CO.
Ou lid
For Account Of Whom n May Concern.
2 shs Central Trust Co.. with rights
20 shs Home Insurance 60.
800 shs General steel Treating C1rpn
% shs Guaranty Trust 60
TOO shs Interstate Electric '0rpn con.
$50. 900 Brooklyn Ferry Co u.s. Con MIG
So, BIDS. 1875. Ctf OF Dep
10 shs. Central Trust GO. alth rights
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20

Paris, May 10. Prices were steady
on the Bourse to-day. Three per cent
rentes closed unchanged at 81 francs
so confines; the per cent war loan
unchanged at IS francs. Exchange on
London, 2S francs 26 centlmes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20

FRIDAY, MAY 10. 1916.

L26i0O against 7s00 Thursday, $1,000 a
669oo against
including annual dividend rate in
do
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
DIVIDEND NOTICES.

AT \ MEETING Of the Directors h. /
to-day Al London n was decided 20 pay -
British income tax. on the Ordinary Shares
on June 30. 1915. Al transfers received IN
order az London on or before June "a. 1918
will be- in time 10 be passed Tor payment o,
dividend 20 transferees
BRiTIsH- AMERICAN TOBACCO CO, Ia
May 10 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
ON THE CONSOLIDATED.

TO large extent Reading dominated
the market on the Consolidated EX-
change, opening at 97s and rising to
1861. More than 27OO0 shares Of the
stock changed hands. Erie went Is high
as II. Union Pacific got up to 1892.
United States Steel closed at o5A.
Anaconda advanced to $50
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
FINANCIAL MEETINGS.

The Annual Meeting OF the stockholders
% the A o. SCHUONMAkER go. Rll 10 hel
at ther Office 81 Park Place. Ner YORK Ciy. %
Tuesday. Jule q, 1915. p ~ for me eeri1
Of Directors aud for the Transaction ~ sg-h ciha
business as may come before them.
HARRY f. BUTLER Secr,,tr
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
BONDS.

so co 'Chcs 4 . 5s.. 90. 49,. %
1890 ''hic O. - ~. s97. sa7, -
200 'Mil Su ca So. o. q IS
enlisted tscns cents per share
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03

8n Otflnnlen:
@9ones Saiis nit 8inmern IN felner
Ra6harihaif nlle BeanentIhieiier, brciic
gInite Siruke; Brets. $i2500O Raitn $1,000
borgen duf ooS Giaenibum glr. 26S9, @illeHss
ubeHRe (Suli26-1UsD
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03
Wle6I. mnS @etrsiOe.WlarEt.

= u W t 2, z. OVpI. IJIO.
Wt CD |. ~ 3ufiibr t4,070 61licr.
eini6IicbIid 1868 80iier 6u Scout
%oint uno 1914 Sdiicr 5u Canton.
Die glotirlnnaen moren mie fnlat.
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03

9uibcI; NerionOt 100 8uidcl; Gle.
batoren.Sorrotb 13O,669 9uiheIs.
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03
8n ucrfanfen.

QIcinc 0jartcn.Tarm
biulg 81 berlauien, DC. Sabraclo. gnie gtat'
bnrfhaii 0eid)tc NeoinpunQcn 9l0rclrc.
~. W. 75" 1cntidier 0prrcippnbcnt.
(gIna2S. 90 .Gept3 .4,9,t01516,2l22
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03
Werlanat

ycrlnHgt:
vlle t6bin uno SausnIdo6en iir cine fleis
nc Snmilie I'M Haiioe Iobn $500 uno $3.50
Rro g9ohe Wlan aorcilire ~. ~, Deutiner
0prrcipunocnt. (Sept3-5)
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03

05robcs Grunoiiid, 100 bel 1853 5ub nit
pcrbeiIertem 5s3immer @uneaIoip nnbc SocrIea,
Geldir Hodo; MIR $2S00, Qruno8inSirei Ylncbs
5niragen bel y. 8. NUgerS, 227 ct. RamI-str,
(glug3i-Sept6)
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03
W,rIanat- Sransu NIB MaOdsu.

gerlnn9t:
etne glter5o1ene, eriabrene oeuildbe Q8drte'
". ydh5uiropeu bel Sonae 8ambnrger,
llanc pnmbnrgcr & GonS, Baltimore nnb
'unoper' Strafc. (Sepf1-3)
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03

3 y 7 : = 0JtFTFFTN T E--1-I-7 = T-7EF-
ihcl; %erlonot bon oen @lepotoren
t42,6OS guihel; glcootorcn.Yor-
rotb 142.6OS 9ul1cI.
Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-09-03

N0n00ll, 2. Scpfenlber. .-3ur
0cdiine Der SntereIien fir oic9riees-
onlciben lit IN Oeiterrcid loiit elmer
Depeldc oeS Sfellter. Correspondent
ten ans 9lmlteroonl Elm gtufIdlog in
Stcuern perfiiet wor0en.
9llc oireften ilno neilen Stempel-
Stcuern murOen ertobt ionic Steit.
crn ouf &ennmetten, Streihbol6er
II. I. 10. eeleet.
The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1916-03-31

er for humanity first, and a manufac'
turer and landowner afterward.
8. Single taxes do not want to put
additional taxes on real estate.
Real Estate means land and improve.
ments. They wish to take all taxes
off OF improvements so that so far
from putting additional taxes on real
estate, they would tighten the tar
burden Of all that is properly i'm
proved 1t is on valuable land held
out OF its proper use, that they would
increase the tax burden.
4. One object Of single tax is to
put the burden OF taxation where II
Justly belongs, on the only form of
property hat increases in value
through benefits conferred by prop
er exercises of governmental func-
tions. Another object is to open to
labor opportunities which land mon
opolists now withhold from them.
Captain Selfridge has been reckless
in making statements about others
ard impugning their motives. But
we will nevertheless refrain from Of
fering any retoTt in kind. But he
has a duty which he cannot properly
avoid. Now that his mistakes have
been explained he owes an acknow-
ledgment OF error and an apology to
the members Of the Conference whom
he deceived-probably unintention-
ally He also did an injustice to the
memory of Joseph Fels and to single
takers generally But If he unde-
ceives his fellow members Of the Con-
ference, it will be enough reparation
for all Now Captain Selfridge has
the floor.
The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1916-03-31
OHIO'S CAMP AIGN
AGAINST SALOONS
Most Thorough Preparation Ever
Attempted By Any State
GETTING READY FOR BATTLE

Work Has Already Begun and It In.
cIudes a Survey Of the Liquor Traf.
fc, = Complete Organization Of the
Temperance Forces and an Educa,
tIonaI Campaign Which Is Expected
to Reach to the Remotest Corner Of
the state.
Columbus, O.-(Sepcial) What is
declared by temperance leaders Of the
country to be the most stuDendous
campaign ever planned against the
liquor traffic in any state is being
carefully mapped out in detail by the
Ohio Anti-Saloon league. Part Of the
work is now under way.
Holding as incidental the date Of
the next election on statewide pro-
hibition, the campaign now on has
for its object as complete prepared
ness as possible for the next battle,
whenever it may occur.
The approval given to the general
PLAN by the trustees of the state
league and the chairmen of the coun-
The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1916-03-31
Keep LOOKING YOUNG
It's Easy-If You Know DR..
Edwards Olive Tablets

The secret of keeping young Is to
feel yOung-tO do this you must watch
your liver and bOwCl8-theros no need
Of having a sallOw cOmplcXiOn-darlz
rings under your Cycs-pimples-a bill
ious look in your face-dull eyes with
no sparkle.
Your doctor will tell you ninety per
cent OF all sickness comes from inactive
bowels and liver.
Dr. Edwards, a well-known physician in
Ohio, perfected a vegetable compound
mixed with olive oil to act on the liver and
bowels, which he gave to his patients for
years.
DR.. Edwards Olive Tablets, the substi'
tute for calomel, are gentle in their action,
yet always effective.
They bring about that exuberance of
spirit, that natural buoyancy which should
be enjoyed by everyone, by toning mp the
liver and clearing the system Of i'm purities.
You will know Dr.. Edwards Olive Tab.
let's by their olive color. lyc ald 2za per
box. All druggists.
The Olive Tablet Company. Columbus, o.
The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1916-03-31

y dry organizations was equivalent
to pressing the button which set IN
notion the machinery The rapidity
OF the revolutions OF the wheels o.
this machinery depends largely on the
activity of the temperance forces OF
the state So far as the Anti-Saloon
league and kindred organizations are
concerned, this is expected to be the
busiest year in Ohio temperance his
tory.
The last two statewide campaigns
rave served to clear the atmosphere
and have permitted a survey Of the
lineup OF the contending forces, The
drys now know the odds they are fac
ing and do not propose to go into the
battle unprepared. When the next
contest begins every temperance man
and woman is expected to be equipped
and ready.
The educational work will begin at
once. More voters are to be informed
concerning the work OF the saloon and
the drink trafiic. The Anti-Saloon
league believes that with the facts
pressed home, the careless and indlf-
f6rent will become active workers for
{, dry state.
Throughout the program for pub.
licity, organization, general survey
and all other phases Of preparedness,
special attention will be given to sys-
tamatic action in all parts Of the state.
The plan OF organization contemplates
reaching from the block, school dis
trict and precinct mp tnrouEh the
county to the state organization.
In order 10 get a good working
basis, a general survey Of the liquor
traffic Is being made, This survey
Will include everything about the
operation of the saloon that will help
the dry cause. The survey is also ex-
pected TO show in = practical way the
relation of alcohol to crime and pau
erism, how alcohol effects the EN-
ployer and employe, and the family,
~ we'll as the relation OF drink to dis
ease and its effects on business.
The Anti-Saloon league is going on
the belief that II the voters have the
facts before them, they will be guided
ty these facts when they go to the
polls, and It is facts that the investi-
gators intend to secure.
While the work is not Of the kind
that is accomplished by noise and red
fire, It is believed to he necessary as
a foundation for an effective campaign
70 make Ohio dry.
The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1916-03-31
HOW "PUT" SIZES UP
C. 0. P. INEFFICIENDY

LOttawa Sentinel. Put Sandle's paperl
Willis legislature spent 10000 bushels
of corn in telephone talk Donahey has
struck pay dirt again. Uncovered graft
and extravaganza OF last Legislature,
Willis parades Ohio. Talks economy
Democrat Donahey stays in his Office
Digs up facts, figures, and vouchers
Proves willis to be the most extravagant
Governor Ohio has ever had. Wreck crew
spent and wasted more public money than
was ever done before.
Auditor Donahey Investigated expenses
of the legislature Reported his findings
to Willis. II was bomb in the wreck
crew camp. Cussing Donahey has be-
come the occupation of some of the G. o,
p. sInecures.
The Governor has the report, What
will he do. Some Of the graft and extra
vagance still goes on. WIN willis stop
it? Win he be afraid to lift his hand
against it? Has he the courage that Co
vernors ougth to have?
Donaheys report hints that some mem
bers of the legislature loaded up for
years to come" He found bills for the
following articles purchased and divided
among the Wreck crew:
7,0i4 lead pencils.
l,1S3 pen holders.
741 pairs Of scissors.
% pounds Of rubber bands.
This would give each legislator about
so lead pencils, pen holders, and pairs
of shears. OF course some got more than
others.
The Auditors report states that fancy
pocket knives and memorandum books
were purchased at state expense.
The Auditor complains that this prac-
tice has gone on for forty years, but the
last legislature has out-done all its pre-
decessOrs.
The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1916-03-31

you will find that where any
one class OF men is advocating
change in taxation, it is doing It
either from the position of fad
dists, or ii is trying to shift the
burden to some other class. Take,
for instance, that angel OF single
tax, Mr.. Fels. He, as | understand
it, was not a large real estate own
er; ne operated large factories for
the manufacture OF soap, and any
scheme of single tax would remove
all taxes from his plants and stocks
on hand and pass the additional
burden to holders Of real estate
1t is very much to be hoped that
Captain Selfridge has more know,
ledge Of forests than he has of single
tax, Joseph Fels or single tax advo-
Gates generally His statements is
clearly based on ignorance of the fol
lowing facts:
l. Joseph Fels was owner Of large
OF land in a number Of states
and localities.
2. He had no OCCASION to adyO-
cate single tax to secure exemption
Of his plant and stocks on hand. "
His factory is in Philadelphia, where
all factory machinery and products
have for years been exempt from tax
alton. So far as his interest as a
was concerned, it was
against extending to his competitors
in other places the same exemption
that he enjoyed. But he was work