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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 17, 1900)
10 Ttt MORNING t OREGONIAN, WEDNESDAY,- JANUARY 17, 1900. DESK STUDIES FOR GIRLS: .MOiNEY AFFAIRS (Copyright, ISflO, by THE OREGON'IAN'S HOMESTUDY CIRCLE: V. PBaSOXAIi ACCOUXT5 AND MOXEY AFFAIRS (Concluded). Something: More About Checks. If you -wish to draw money from your own account, the most approved form of check Is written "Pay to the order of Cash." This differs from a check drawn "Pay to the order of Bearer." The paying teller expects you yourself or some one wall known to him as your representa tive when you write "Cash." If you write "Pay to the order of (your own name)" you will be required to indorse your own check "before you can get it cashed. The check is simply a written demand upon the bank for some of your own money, and when you write "Pay to the order of Cash" it is simply a formal request for some of your own cash. If, however, jou are giving the check to a tradesman in payment of a bill you should, course, write his name Instead of the word "Cash." Tou are asking the bank to pay him the money as ho (the trades man) may "order" It paid. If you wish to stop the payment of a check which you have issued you should notify the bank at once, giving full par ticulars of the check. You might, for Instance, give your check in payment of a bill which you afterward And out to be wrong or fraudulent. It Is better for all parties concerned, including the bank, if you exercise proper caution in Issuing checks. If you have received a check from some one In payment of a bill and you deposit It and it is returned through your bank marked ""No funds" it signifies that the person whose signature Is attached to the check has no funds In the bank upon which the check Is drawn. Tour bank -will charge the amount to your account. The "best thing to do in such a case Is to hold the check as evidence of the debt, and write to the person from whom you received the check, stating the facts, and asking for the cash in some other form. Banks have a custom, after paying and charging checks, of canceling them by punching or by making some cut through their ace. Those canceled checks are re turned to the makers at the end of each month. Clieeks Should Be Numbered. Checks should be numbered, so that each can be accounted for. The numbers are for your convenience, and not for the con venience of the bank. It is Important that your checkbppk be correctly kept, so that you can tell at any time how much money you have In the bank. At the end of each month your small bankbook shou'd be lert at the bank, so that the book keeper may balance It. It may happen that your bankbook will show a larger bal ance than your checkbook. Tou will un derstand by this, if both have been cor rectly kept, that there are checks out standing which have not yet been pre sented at your bank for payment. Tou can find out which these are by checking over the paid checks that have been re turned to you with your bankbook. The unpaid checks may be presented at any time, so that your actual balance is that shown by your checkbook. Checks should be presented for payment as soon after date as possible. Certified Checks. If you wish to use your check to pay a note due at some other bank, or in buy ing real estate or stocks or bonds, you may find it necessary to get the check certified. This is done by an officer of the bank, who writes or stamps across the face of the check the words "Certified" or "Good when properly indorsed," and signs his name. The amount will imme diately be deducted from your account, and the bank, by guaranteeing' your check, becomes responsible for Its payment. Banks will usually certify any check SHOP AD TRADE (Copyright, 1809, by IV. EASY MECHANICAL DRAWING LESSON NO. 3. This lesson is devoted largely to geomet rical practice. The beginner must learn at the very outset to be exact in every measurement. Exercises. 1. Construct a square, having given the diagonal AC Bisect AC at right angles by the 'straight line BED, cutting AC In E. Make EB and ED equal to AE. Join AB, BC, CD, DA. ABCD Is the square re quired. 2. Construct a rectangle with two given sides. 0 FT K '-.E L.I A B Xet AB and KX be .the two sides. At A erect a perpendicular, AD, and raako AD equal to KL.. Through D draw DC paral lel to AB, and through B draw "BC par allel to AD. ABCD is the rectangle re quired. 3, Construct a rectangle, given a diag onal and a side. Make a right-angled tri angle ABC, having AC equal to the given diagonal, AB equal to the given side and angle ABC a right angle. Through A draw AD parallel to BC, and through C draw CD parallel to AB. ABCD is the rectangle required. 5. Construct a kite, given the direct di agonal and the sides. A quadrilateral ABCD Is called a kite when BA equal DA and BC equal DC. Wo shall call AC the direct diagonal and BD the transverse diagonal. Make a tri angle ABC, having AB, BC equal to the gi-en sides and AC equal to the given diagonal. On AC and on the other side of it describe the triangle ADC, having .AD equal to AB and CD equal to CB. ABCD Is the kite required. 6. Draw a circle to touch a given straight line at a given point. Iet AB be the straight line and P the given point. At P draw QBR perpendic ular to AB. Take any point, S, In QPR. C a y - b Seymour Eaton.) DIRECTED BY PROF. SEYMOUR EATON drawn upon them If the depositor has the amoun called for .to his credit. If you should get a check certified, and then not use It, deposit It In your bank, otherwise your account will bo short the amount for which it is -drawn. In Canada all chocks are presented to the "ledger keep er" for certification before being presented to the paying teller. Banlc Drafts. Tour bank check la really your sight draft on your bank. Of course, it diiters from an ordinary commercial draft, not only in Its wording, but in It purpose. A check is used for paying money to a cred itor, while a draft is used as a means of collecting money from a debtor, The bank Is obliged to pay your check if It has funds of yours sufficient to meet It, whhe the person upon whom your draft is drawn may or may not honor It, at his pleasure. Banks keep money on deposit In ono or moro other banks located in some of the commercial centers. Nearly all largo banks keep money on deposit with one or more of the New York city banks. They call these banks their New York "correspondents." A bank draft Is simply the bank's check, drawing on its deposit with some other bank. Banks sell these checks to their customers. Mer chants make large use of these drafts, or cashier's checks, as they are sometimes called, in making remittance from one part of the country to another. A draft on a foreign bank is commonly called a "bill of exchange." Hints for Depositors. Do not wait until you get to the bank to count your money, or to Indorse your checks and arrange your deposits. This should be done before you come to the bank, or. at least, before you present your self at the receiving teller's window. Be sure that you have the figures correct. Place the bills all one way, right side up. Separate your gold and silver and sort the silver by denominations. Do not de posit your dimes, nickels and pennies until you have a certain amount of them, say ?5 of each; then put them In a package, with the amount and your name marked on it. Poiver of Attorney. To give some one else the power'to sign .or indorse checks, notes or other Impor tant papers. Is called giving such an one "power of attorney" that Is, the power or authority to be your attorney. Such authority when given should be In writing, and have a witness, and should state ex plicitly what the "attorney" has power to do. The postoffice department Issues a printed" blank for use by those who wish to transfer to others the power to sign money orders. Powers of this sort should be filed with the postoffice, or with the bank Interested, or should be made mat ters of public record ut the offices of the register of deeds. Safe-Deposit Vaults. Many of the banks, trust companies and Insurance companies make a special fea ture of renting small safe-deposit boxes or drawers in their vaults to any and ev ery person who chooses to pay the rent asked, which depends largely on the amount of space needed, and Is usually $10 for the smallest-sized box. It is very convenient for one who has not a safe of his own to have a secure place In which to keep valuable papers. In many of the larger safe-deposit vaults there are desks and stationery for customers so that one may at any time and very conveniently and privately examine one's papers and make entries or Indorsements, or add new vouchers, or make changes, as the occa sion may require. Note These business -studies will be con tinued next week. Dr. A. S. Bolles, of the university of Pennsylvania will pre sent "Some Law Points for Girls." STUDIES FOR BOYS Seymour Eaton.) Then the circle with center S and radius SP will touch AB at P. 4. Construct a rhombus, given the side and one of the angles. B C Construct as if for an Isosceles triangle ABC, having the angle B equal to the given angle, and BA, BC each equal to the given side. Through A draw AD par allel to BC, and through C draw CD par allel to AB. ABCD is the required rhom bus. 8. Draw three equal circles In an equi lateral triangle, each touching ono side of the triangle and two other circles. 9. Describe a square each side of which is 2 Inches, and draw two circles, one out side touching the four corners, and one inside touching the four sides. 10. "Use your compass to describe a group of seven regular hexagons as shown in the figure. Note These lessons will be continued next week. Our Shipbuilding-. Gradually the United States is becom ing a real maritime nation again. The ,bureau of, navigation has some shipbuild ing facts for 1899. According to it, the 'ships built In 1S99 numbered 954, with a gross tonnage of 267,642 tons, as against 955 vessels, with a gross tonnage of 237, C00 tons, in 1S98. The steam vessels built in 1S99 numbered 199, fewer than those constructed in 1E9S, while the sailing ships built last year numbered 12S more than those constructed in the previous year. The construction of the Atlantic and Gulf shipyards numbered 60S, with 163,519 gross tons, as against 538, of S6,005 gross ton nage, In 1S9S. On the Pacific only 114 ships, with 20.0S7 gross tonnage, were built last year, as against 240, with a gross tonnage of 61,923, In 1898. The yards on the Great Lakes built only four more ships last year than they did the year before, and yet nearly all our heavy and cheap freight that is sent abroad goes In A D n A foreign ships. It ought not to be. Mer-, chants are losing a great deal of money nowadays because they cannot export the goods they have orders for, through the withdrawal of so many ships for ,the,. transport service of Great Britain. - t D ' PLENTIFUL PALOUSE. Has the Hlsrhest "Wheat Average in the World. Joseph P. Blantpn, president of the uni versity of Idaho, is at the Imperial, on his way to Boise, where he will deliver an address at thev annual ineeting .of the Idaho State Horticultural Associa tion, on the subject of "The Itelatjton ,of Idaho University to the Material Develop ment of the State." The location of the Idaho university at Mobcow Mr. Blanton considers an ideal one. At an altitude of 2700 feet, a most picturesque view Is spread out from the university site, with plateaus and moun tain ranges In grand array. t "That whole Palouse region Is develop ing very rapidly," said President Blanton last evening. "There Is a large lnliux of newcomers, mostly composed of substan tial, industrious farmers from Iowa. They buy farms and are delighted with our cli mate. One man bought five farms,- and has rented them fo five farmers who came from Iowa with him. They were his ten ants In Iowa, and he sold the five farms he had there. "The Palouse Is a region of unrivaled fertility. The land there Is the best I ever saw. It will raise anything. That section has the highest wheat average In the world, per bushel, per acre, and the qual ity Is high. Pennsylvania comes next. "Newcomers are paying 520 to $40 an acre for lands around Moscow. I believe that .the man who makes an Investment there now at those prices will double his money Inside of five years. I have seen 19 tons of red clover cut from one acre there, equal to four tons dried. "Farmers of the Palouse country are In better financial shape than ever before. They have larger deposits In the banks, and they are holding two crops of wheat. They will not accept the 38 cents a bushel offered, and do not have to sell. "The winter weather Is very mild up there, and I picked a pansy In full bloom In my dooryard"th!s week. All vegetables do wonderfully well In the Palouse, and the university of Idaho had 133 varieties of potatoes on exhibition at the Oregon In dustrial exposition. "The university Is doing a great deal toward the general development of the country, and Its strongest coadjutor is the O. R. & N. Co. That enterprising organi zation and Its Industrial agent, R. C. Judson, has backed us up In every effort, and we appreciate it. "There will be a farmers' Institute held at the university of Idaho, beginning Feb ruary 2. and then there will be a short course for farmers. In the space of two weeks thpre will be 50 lectures delivered on, nil subjects pprtalnlng to horticulture, agriculture) Irrigation, etc. In our fac ulty we have graduates of Heldelburg. Strasbourg, Tale and Cornell, besides of all the Pacific-coast universities. Profes sor French, formerly principal of the Portland high school. Is one of our most energetic -workers. He never lets up. and Is full of perseverance. We have 400 stu dents " enrolled from all over Idaho." 0 a TAX STATEMENTS. Errors in Mr. Goldsmith's Presenta tion Corrected. PORTLAND, Jan. 16. (To the Editor.) In today's Oregonlan appears a communi cation from B. Goldsmltn, esq., purport ing to give a comparison of the city tax rate of Portland with other cities, partic ularly with the cities of Seattle and Ta coma. Mr. Goldsmith quotes from the World Almanac, and If the figures are correctly quoted the mayors of Seattle and Tacoma have (for publication) doc tered their respective tax rates In the same way that "bank clearances" are doc tered in those cities, for the purpose of deceiving the public. I am surprised that vt loyal citizen of Portland like Mr. Gold smith should so readily fall into the "trap." I have before me "Statistics of Cities," published by authority of congress; com piled by Carroll D. 'Vright, commissioner of labor, from the results of expert In vestigation by special agents of the de partment of the books of all cities having a population of 30,000 or over. This re port, showing the tax rate per $1000, Is as follows: en n a O H 1 I I f 1 I j ! I t Portland ...110.7017.80 8.X 5Hb" 3200 Seattle .... 6.7115.20 11.00 2.W) 24.50 Tacoma. ... 5.40;C60 12.00 9.00 33.00 l $38,390, G20 30,714,128 23.610,684 The above figures read somewhat dif ferent rom those Mr. Goldsmith quotes, viz., Tacoma, $1 15; Seattle, $2 25, and Portland, $S. city tax rate per $1000. Had Mr. Goldsmith used his pencil he would have discovered how erroneous his figures are. For Instance,' Seattle's bond debt Is given as $3,500,000. Interest on that sum at not less than 5 per cent is $175,000. Now tho proceeds of the alleged tax levy, 24 mills on a valuation of $32,263,292, is only $72,592, showing a deficiency of over $100,000 In the interest account alone. Fur ther comment Is not necessary. A. N. GAMBELL, City Auditor. ri Q DAILY CITY STATISTICS. Real Estate Transfers. Richard Nixon, receiver, to Mary S. Sternmann, 1.104 acres except 40xfi5 and 75x97 feet. Perry Prettyman D. D. C, No vember 14. 1S99, $500. H. B. Bradley to W. A. Rogers, lot 5, block 4, Peninsular addition .No. 2, De cember 26, $1. Title Guarantee & Trust Company to P. T. Smith, lots 30 to 36, Inclusive, block 8, Point View, January 11, $100. D. M.' Donaugh totMarla Scharplng, lot IS, block 77, Sellwood,' January 16, $200. J. N. Russell to-D. B. Russell, lots 1, 2, 3 and 4, block 75, Woodstock, January 15, $1 R, L.. Sabln, trustee, to D. B. Russell, same, January 13, $2200. John Paulson to Matilda Paulson, lot 3, block 3, Kenllworth, January 15,. $1. T. W. Shulze and wife to T. I. Hlckey, lot 8, block 14, Mount Tabor Villa, Novem ber 22, 1899, $250. Births. 0 January 15 Boy to the wife' of "William Frlberg, 613 Fifth street. January 15 Boy to the wife of Charles Mathews, 781 Commercial street. January 1 Boy to the wife of H.' Mc Grath, 420 Second street. January 2 Girl to the wife of J. J. O'Brien, 622 Qulmby street Deaths. January 13 Isan Stlnlt, age 20 years, 91 Seventh street; phthisis pulmonalls. January 15 Jacob Bloom, age 74 years, 163 Tenth street; progressive paralysis. January 14 Charles McAfee, age 14 years, Center addition; hydrocephalus. Building Permit. N. Patterson, two-story dwelling on Cherry street, between Williams avenue and East First street; $1600. o ' Preaching; and Rabbit-Driving;. Lake County Rustler. At the rabbit drive near Union school house last Sunday, 265 rabbits were killed. There will be another drive there, next Sunday, following immediately after,. the church services. Dr. J. W. Warfleld, of Lakevlew, will preach, q o Rare Bachelor Accomplishment. Hardman Homestead. , We know a few old bachelors who can make mince pies, wash dishes, etc., -but the rarest of bachelor accomplishments is running a washing machine TARIFF AND THE TRIMS PROTECTION PAVES THE WAY FOR COMBINATIONS. Strong Anti-Trust Document From the Pen of Jolin De Witt' War ner, the Economist. BOSTON, Jan. 16. Perhaps the strong est anti-trust -document yet Issued by the New England free-trade league Is that given out today from the pen of the noted economist John De Witt Warner. He writes: The theory of the protectionists from Carey to McKinley and Dlngley has been that while protective tariffs might at first somewhat Increase prices, they would re sult in lower prices just as soon as our manufacturers, were once well established. According to promise, consumers were then to get back In low prices what they had paid in high prices In order to secure "Industrial independence." Results have shown that these theorists have omitted several Important factors. Two of these are the helplessness on the part of man ufacturers, resulting from tariff bounties and the tariff trust which Intervenes, as I soon as the manufacturers are ready to compete, to prevent consumers from get ting back what they Invested In protective tariffs. If such duties could be removed when an Industry has been firmly established the protectionist's theory' might possibly prove true in exceptional cases. But neither the manufacturers nor the pro tectionists are ever ready to admit that a tariff-nurtured Industry is sufficiently established to get along without further tariff pap. The men In such charity in dustries become demoralized and depend ent, and conclude that It Is the duty of the government to continue to support them. Manager Gntcs' Admissions. These demoralizing and socialistic effects were well illustrated by the testimony of Mr. John W. Gates, managing director of the American Steel & Wire Co.,, before the industrial commission on November 14, 1899. Without a blush, he stated that prices of wire nails, etc., had been doubled; that he deprecated the, necessity for such hleh prices; that they were due to the high prices of raw materials; that his company exported 700 tons of wire a day; that It furnished England with 60 per cent of her supply; that goods were sold lower to foreigners; that such prices were neces sary "to hold outside trade"; that not Infrequently new plants were shut up and dismantled: that this was done for "var-i lous reasons": that five plants had been closed; that his company had a monopoly of th barbed-wire business; that, there fore, higher prices were charged for these products; that his company was making big profits; that his company did not rec ognize labor unions as such; that subsi dies should be paid to steamship lines ana to corporations with $5000,000 or more cap ital; that the government should super vise all such corporations; that he went to Europe to form a world trust; that ne proposed to Increase prices $10 a ton if such a trust was formed; that the Ger mans contemplated a $2 Increase; that the Germans wanted too big a share of the business; that Germany's bounty system was excellent; that if It were applied here we should soon bo doing 90 per cent of the Iron and steel business 'of the world; that the protective tariff had had much to do with building up the Industry; that the continuance of the policy Was necessary to the future prosperity of the Industry. Can any sensible, fair-minded and pat riotic man take the statements and ad missions of Mr. Gates and reach his con clusions as to the necessity for tariff du ties or bounties? Is It not clear that he has received so much from the government that he now thinks It o'wes him and his kind a Uvlnir? Will any honest man think It fair for these manufacturers to sell their products at the hghest possible notch to those who pay the tariff bounties and to bestow upon the untaxed foreigners the blessings of low prices even "to hold outside trade"? Why not tax the foreigner awhile and give home, consumers a chance to get some of their tariff taxes back? Consider to what use the tariff has been put In the wire and nail Industry by the millionaires whom It has produced. Earlier Wire Combinations. Going no farther back than In 1895 we find the Consolidated Steel & Wire Co., an Illinois corporation of 1892, with $4,000, 000 capital, as the barbed-wire trust, with Mr. John W. Gates as manager. Various pooling agreements were formed In 1S94, r 189d and 1S9C between all the barned-wlro manufacturers, but they were, only tem porarily successful in producing higher prices. The Export Barbed-Wire Association, composed of four principal exporters, was In force several years previous to 1895, and did much to steady prices. It was partially revived In 1S96. In September, October and November, 1895, "prices were fixed by agreement," as the Iron Age stated, and were $2 85 per 100 pounds for barbed wire. The previous April' the price was $1 90. The average prices for previous years were: 1894, $3 18; 1893, $2 55; 1892, $2 29; 1891. $2 72; 1890, $2 97. In December, 1895, the combination broke and prices fell to $2. Cut anil Wire Nulls Previons to 1SOS. Early In 1895 wire nails were selling at a "base" price of 75 to 80 cents a keg in PlttsburgT In May two associations, one for cut and one for wire nails, .got to gether and put this price up to $1 20. These associations pooled, and the wire-nail peo ple "contributed financially to enable the Cut-Nail Association to keep control of the market, especially In the payment of sub sidies, to keep idle the large number of cut-nail machines," as the Iron Age of December 3, 1S96, tells us. The associa tions regulated the amount of nails of fered for sale each month and the price at which they should be sold. "Under standings were had with Canadian man ufacturers. Nall-machlne makers were subsidized not to sell to those outside the associations. Jobbers who did not cut prices were given rebates." Prices were advanced almost steadily for one year. By May, 1S96, wire nails wevo soiling at $2 70 In Chicago and $2 55 in Pittsburg. The pool held together until December, 1896. when prices broke more than one cent per pound. Home Prices More Thnn Twice Ex port. On December 3, 1S96, the Iron Age said that high prices of cut and wire nails had reduced consumption from over 9.000.000 kegs In 1S91 and 1892 to less than 8,000,000 in 1895 and in 1S96 to probably "far less than In 1895, notwithstanding the fact that a large amount of nails had been ox ported Into foreign countries at loss than -half the price that the American public paid for their nails. It Is often difficult to ascertain the ex act export prices. In November, 1896. how ever. It Is a fact that the price to for eigners was $1 30, while the price to Amer icans was $2 70. At least one dealer bought a large quantity of nails at export prices and after shipping them to Amster dam and back and paying freight and other charges both ways,, made a hand some profit, while underselling the trust In its own market. He, howevqr, was boy cotted by the trust, and was thereafter unable to buy nails at any price either as an American or a foreigner. The exports for the fiscal year 1SS6 were 28,762,187 pounds. Trust Formed, in 1S9S. Agreements were broken and patched 'up In 1897 and 1893. In April, 189S, the Ameri can Steel & Wire Company, of Illinois, was formed, with $24,000.0C0 capital. It con tained 14 mills, seven of which constituted the Consolidated Steel & Wire Company, formed In 1892, with $4,000,000 capital. This trust was not large enough to fully regu late production and prices. It was swal lowed up by the new American Steel & Wire Company, a New Jersey corporation, formed on January 13, 1899, with $93,000,090 capital, $40,000,000 of which Is 7 per cent cumulative preferred stock. This trust In cludes practically all of the wire, wire-rod and wlre-nall mills of this country. The value of the 26 plants and other property absorbed Is about $20,000,000, which, even admitting the $18,000,000 other capital claimed, would leave over $50,000,000 of water. It owns Its own sources of sup ply. Its monopoly conditions and advan tages were thus set forth in March, 1893, by its president, Mr. John Lambert: 'It will not be necessary to make any further purchases, for the reason that we have all the producing capacity that we need. It has been our policy to so fortify ourselves that we are practically Indepen dent, or, If you please, to put ourselves In a position to take the ore from our own mines, transport It In our own vessels, convert It Into pig Iron in our own fur naces, roll it into steel billets In our own steel mills, roll it Into Iron rods In our own rod mills, and finish it In our own mills Into plain and barbed wire, and all the different kinds of wire used not only In the United States b'ut all other coun tries where wire Is used. In this way we have succeeded, as we own one of the best ore mines in the ilesaba range. We have our own coke mines and coke fur naces; so that you will see that we start at the bottom and have all the profits that there are from ore to finished material. Our business Is entirely satisfactory, and the company is doing very well." The trust has a monopoly of the drawn and barb wire business, but has consider able competition In woven fence wire. It also does a large business In copper wire and copper electrical goods and In fenc ing, poultry netting, baling wire and bale tires. The actual output In 1S98 of all the plants now In the trust was: Wire rods, net tons 826,840 Drawn wire, net tons 1,130.124 Barbed wire, net tons 275.S18 Wdre nails, kegs 6,551,737 Woven wire fencing, miles 10,000 The effect of this trust upon prices has been almost marvelous. The fo lowing tables of average monthly prices are from the Iron Age of January 4, 19C0: This table shows Chicago and New Tork wire nail "base" prices: Months 1899. 1897. 1894. January $1 59 $1 50 $117$ February 173 145 120 March 2 09 150 115 April 2 25 145 100 May 2 35 142 107 June 2 60 142 120 July 2 70 135 120 August 2 80 137 115 September 310 150 110 October 3 20 152 105 November 3 28 1 50 1 05 December 3 53 1 50 1 00 Average 2 60 146 1 lift Chicago and New Tork barbed wire "base" prices: Months 1899. 1893. 1894. January $2 05 $190 $2 25 February .w -2 25 190 2 25 March 2 62 190 2 30 April .-...2 SO 187 2 20 May 2 95 180 2 15 June 3 20 ISO 2 20 July 3 30 ISO 2 25 August 3 40. 180 2 25 September 3 67 ISO 2 20 October 3 77 182 2 15 November .. 3 S8 1 S2 2 00 December ,...4 13 182 190 Average...., 3 17 185 2 18 ; ' It should be notleed that these are the base prices of wire naila In carload lots. Because of "extras," due to sizes, the average price per keg is fully 60 cents more than those quoted above. Of course the prices of small lots are still higher, and the retail prices, especially In remote districts, very much higher than for car load lots. The base price Is fixed at Pittsburg, and freights are added to all points of delivery. The Pittsburg price is now 33 cents lower than Chicago and New Tork prices, which are 5 cents be low St. Louis prices. Wire nails have al most entirely replaced cut nails, which now sell for about 70 cents per keg less than wire nails. The duty on wire nails from 1890 to 1894 was from 2 to 4 cents per pound; from 1894. to 1897, 25 per cent; since 1897, from to"l cent per pound. The duty on barb wire from 1S90 to 1894 was 6-10 of a cent per pound; since 1894, '4-JO ofa "cent per pound. The duties on other products of th-'s trust are generally higher than those on wire nails. Trust Profits. In April one of the directors estimated the yearly net earnings at $12,000,000. The statement of the earnings to June 30, 1899, showed a net profit of $4,892,000, for the first six months. Judging from the prices of wire and wire nails the profits for the second six months should be at least $8,000,000 the Increase In prices being nearly all profit, because the trust owns its-own mines and furnaces and the actual cost of making Iron, steel and wire Is not much greater than when prices were less than half present prices. While It is unlikely that the present excessive profits will continue for many months it is diffi cult to see how the profits from July, 1S99, to July, 1900, can fall below $15,000,000. Trust Theories. It may be noted that when this trust was first formed we heard a great deal from the trust theorists about the, eco nomic advantages and savings of great combinations. Thus, Mr. Garrit H. Ten Broeck, of St. Louis, as counsel for the company, announced that "the only effect on the market that I can see, will be a possible slight lowering of prices, because of this economy, and also a steadiness of prices for the future." There are still numerous pro-trust theorists prating about the blessings of trusts as if nearly all of the trusts had not. In practice, act ually demonstrated that they are, under present conditions, all-around curses. The blessings, so far, are enjoyed only by these who got Into the trusts on the "ground floor." If the wire trust lowers prices It will do- so only because of the removal or threatened removal of tariff duties or be cause prices are too high to yield maxi mum, profits. The Iron Age of November 30, 1899, contains six columns of Interviews with hardware men In 25 states on "tho effect of high prices on the demand for goods." Many dealers say that they ex pect to sell 25 or 30 per cent less goods In 1900 because of advanced prices. Many farmers are refusing to build fences with wire at high prices. A Maryland farmer said: "The price of wire Is prohibitive." Tho farmers are deferring the building of houses because of the increased prices of lumber, nails, glass, etc. They are buy ing nails by the pound Instead of by the keg. Very Ioyf Export Prices. Mr. Gates neglected to tell the Indus trial commission how much export prices were below home market prices. It will make these farmers feel happy to know that this same trust which charges them at a "basis" of $3 53 per keg for nails (about $-1 50 at retail) ex ports these nails and sells them to Euro peans at $2 14 "basis" per keg, and that It cxpoited about 70.COO.000 pounds In 1899 to all parts of the earth. The exports for tho fiscal years 1893 to 1899 of wire and wire nails were as follows: Exports of Wire Xnlln and Wire. Wire nails, Wire, pounds. pounds. 1S93 2,300,502 42,795,043 1894 3,233.776 44.778.268 1895 4.367,267 61.093,717 1896 8.031.927 70.923.766 1897 9.9il,714 107,729.155 1898 22,891,099 137,054,694 1899 51,233.212 215,194,475 Note All kinds of nails and tacks, ex cept cut nails, were Included previous to July 1, 1S97. Exports are Increasing rapidly, and were 50 per cent greater than ever before dur ing the last six months of 1899. The total exports of wire for the first 11 months of 1899. were 241,922,967 pounds; of wire nails. 62.996,401 pounds. These tremendous exports and the prices at which they are made indicate that there is no need of protection and subsidies at home except for the officers of the trust, who are trying to capture "90 per cent of the world's trade." Will the farmers who are building rail fences because barbed wire Is too ex pensive feel like voting to continue a tariff system which compels them to pay 88 per cent more for fencing wire than for eigners have to pay for the same wire? Large quantities of barbed wire were exported from New Tork in December, 199, at $2 20 per 100, although the home price was raised at the end of the month from ?2 SS to $1 13. Canadians Xot Most Favored. Apparently all foreigners are not treat ed alike. To be most favored and to reap the full blessings of protection you must not only be a foreigner, but you must re Side at least 3000 miles away from the land of McKinley and Dlngley. Thus our neighbors, the Canadians, must pay for the privilege, of living so near to us. How ever, the trust treats them better than it treats Americans. On December 2, 1899, Canadian Hardware, a Montreal publica tion, said: "Retail dealers In the United States pay $3 70 f. o. b. Cleveland for carlcts for barbed wire, and $3 SO for less than car lots, while the figure quoted to the retail trade In Canada Is $3 25 f. o. b. Cleveland for carlots and $3 35 for less quantities. "Plain wire is quoted to the Canadian dealer $11 per ton lower than to the home dealer. "The explanation of these differences in prices Is that In the home market, on ac count of the high customs tariff, the United States manufacturer has a monop oly, while. In catering for the Canadian trade, he has to bring his price down to a point that will keep out the product of British and German manufacturers." How to Exalt Our Farmers. As the duties on barb wire and on wire nails are less than the difference between home and foreign prices, and as our trusts, especially our tariff-nurtured ones, always display a decided preference for fore.gn ers. It might be that the abolition of thse duties wculd not put us on a par with Europeans In the maUer of prices. It would, however, be certain to elevate us 'to the leval of Canad'uns. It would be some satisfaction to our farmers to feel that they were as good as Canadians; and, perhaps, the reduction In price of only 1 cent, per pound on wire and nails would again start the building of wire fences and of houses and barns. We suggest that our statesmen at Washington try the experiment. Wages and Labor. It somehow happens that every time this trust raises wages In one of Its depart ments, the Increase is heralded as one of the beneficent effects of great combina tions. Recently, many ponderous articles in great republican papers have been based upon the assumed fact that the supposed 36,000 employes of this trust are getting 40 per cent higher wages than before the trust was formed. Such misleading state ments undoubtedly have a common source. The facts appear to be that the new trust did, on March 1, 1S99, raise the wages of Its, employes who were getting less than $2 50 per day from 5 to 10 per cent. In June. 1S99, a few of the steel and -wire workdrs probably shared In the general 25 per cent advance obtained by the Amal gamated Asssociatlon of Iron, Steel and Tin Workers. On January 1, 1900, the trust advanced wages of tonnage workers, work ers by the hour and day laborers, 7 per cent. As usual, It was announced In the papers that this "advance was unsolicited and unexpected." Possibly I But the Iron Age, of January 4, 1900, contains a tele gram from Pittsburg which says that "the National Association of Rod Mill Work ers has presented a scale of wages to the American Steel & Wire Company calling for an increase in present rates of from 3 to 21 per cent. The men have asked for the restoration of the wages in force prior to 1S93, and a uniform scale. The com pany are given until January 15 to answer, and it Is not expected there will be any trouble In arranging a satisfactory settle ment with the rod mill men." Going back to the steel and wire trust of 1898, we find that In July, 1S9S, it re duced wages from 10 to 4o per cent in nearly all departments of all its mills. In Newcastle, Pa., the reduction was 10 per cent; In Cleveland, O., 33 1-3 per cent for fine-wire drawers; In Anderson. Ind., la per cent for the rod men, 45 per cent for the wire drawers, and nallmen required, to run 12 Instead of seven machines. At Anderson, Ind., FIndlay, O., Cleveland, O., Salem, O., and Beaver Falls, Pa,, the mills were closed because the workmen would not stand the heavy reductions in wages. At Cleveland the men were still on strike in October, 1898, and the trust, according to reports, was refusing to ar arbltrate. It Is probable that the totals of all of the payrolls of all the mills and works in the trust were less In 1899 than they were In any previous year since 1S90, although the Iron Age, of January 4, 1900. says that "the tonnage In wire and wire uails of 18S9 was very much the largest In the his tory of the trade." Mr. Gates admitted that five plants had been closed. and dismantled. It Is probable that many others are closed much of the time. Thus the New Tork Times, of January 5, 1900, when announcing the 7 per cent Increase of wages, stated that only two of the trust's fence-wire plants were In operation. But the wage-workers will more fully appreciate the benefits of this trust when demand for Its products tails off greatly and when It attempts, by closing mlllb and restricting production, to maintain high prices' and pay dividends on Its highly diluted stock. Such a time will surely come. IN TABLET FORM-PLEASANT TO TAKE. A Six Months Treatment sold for only ono dollar, and If a euro w not effected tho money 'Till bo rp Xundod. To OEk rcore would to unreasonable; to grant leea 13 contrary to Ufo'a principle. All can 3haroin tho great blessing I Lcstow: no ano to Io excluded from tho great least of health I offer sufforlns nmoilnd. For IS years I bavo euffered a thousand deaths from Kldnoy and Bladder Troubles and Catarrh. My system was nil run down. I secured a elx months' treatment or tho VeEOtablBPrffion?ilh1cSKy. PorealobyalldrupRlsts. Thirty days' treatment for 25c. : Seventy daya' treatment 50e. : Six months, treatment, $1.00. Hi days' trial trtatment free. 3JlS W. srCD-JCK-na-UT, Cincinnati. O. Steaming Hot and made to suit, there is no remedy for weak ncsa and temporary down-hcartedness, so quick and sure as a cup of BEEP TEA pre pared from Good for well people and sick ones. A fa miliar friend where good cooking 15 done. Look for this signa ture in bine, on every jar viXM0flTHSTaEATHp3L3S mMMPBUMK Licbig COMPANY'S Extract of Beef fr? THE "PALATIAL" OREGONiAN BUILDING N'ot n tlarlc ofQce In tlie bnlldluffl Bbtolntcly fireproof: electric Ilwhti and nvtesian water; perfect anHn tlun and thorough ventilation. Kite vatnrs run ilaj- and nlislitt Rooms. AEP.AMS, V? R.. Cashier Mulual Life ANDERSON. GUST.VV. Attorneyat-Lavr 813 ASSOCIATED TRESS; E. L. Powell. Mgl .. SOfl BANKERS' LIFE ASSOCIATION, of Des Moines. la.; C. A. MeCargar. State Aeent.,502-3 EEHNKE. H. W.. Piln. Ternia Shorthand School , 211 BENJAMIN. R. W.. Dentist 21 BINSWANGER. DR. O. S.. Phys. & Sur..-Ul-413 BRUERE. DR. G. S.. Physician 4J2U3-m BUSTEED. RICHARD. Plug Tobacco... .802-603 CAUKTN. G- E.. District Agent Travelers Insurance Co...... .....................T13 CARDWELL. DR. J. B DM CLARK. HAROLD. Dentist 314 CLEM. E. A. CO.. Mtnlnff Propertls...fllO-aiil COLUMBIA TELEPHONE COMPANY eO4-G03-CIHJ-GO7-Gt3-SM-ei3 CORNELIUS, a W.. Phys. and Surgeon 200 COVER. F. C. Cashier Equitable Life. 30J COLLIER. P. F.. Publisher; S. P. McGulre. Manager . ............................... .413-418 DAY. J. G & I. N 313 DAVIS. NAPOLEON. President Columbia Telephone. Co 0I DICKSON. DR. J. F.. Physttlan "13-714 DRAKE. DR. H B . Physician 512-513-314 EDITORIAL ROOMS. Eighth floor EQ'TITABLE LrKn ASSURANCK SOCIETY. L. Samuel. Manager; F. C: Cover. Cashier 3Ca EVENING TELEGRAM 323 Alder street FALLOWS. MRS. M. A.. Manager Women' Dept. Mutual Reserve Fund Life, of New York 603 FENTON. J. D.. Physician and Surgeon..309-3Io FENTON. DR. HICKS C. Eye and Ear 311 FENTON. MATTHEW F.. Dentist 3u FIDELITY MUTUAL LIFE ASS'N; E. C. Stark. Manager 301 FOREST. MRS. E. R.. Purchasing Agent TIT FRENCH SCHOOL (by conversation); Dr. A. Muzzarelll. Manager ....TOO GALVANI. W. H.. Engineer and Draughts man 600 GEARY. DIC EDWARD P.. Physician and Surgeon ...212 213 GIE3Y. A. J.. Physician and Surgeon.... "Ofl-TIO GODDARD. E. C & CO.. Footwear, ground floor ...:20 Sixth srreel GOLDMAN. WILLIAM. Manager Manhattan Life Insurance Co. ot New York. ......209-210 w s . -rxk S.. Attorney-at-Law SIT GRENIER. MISS BEATRICE. Dentist T03 HAMMOND. A. B ....310 HEIDINGER. GEO. A. & CO.. Pianos and Organs 131 Sixth 3r. HOLLISTER. DR. O. C. Phys. i Surg... 34-303 IDLEMAN. C. M.. Attorney-at-Law...41-lT-13 KADY. MARK T.. Manager Pacific North west Mutual Reserve Fund Ufa Assa...8iH-C03 IVMONT. JOHN. Vlce-iPrcsblent- andOen- eral Manager Columbia Telephone Co......G03 LITTLEFIELD. H. R.. Phya. and Surgeon.. .20(1 MACRUM, W. S.. Sec. Oregon Camera Club..2U MACKAY, DR. A. E.. Phys. and Surg... .711-713 MAXWELL. DR. "W. E Phys. A Sur. 701-2-3 McCAROAR. C. A., State Agent Bankers Life Association ...............302-303 McCOY. NEWTON. Attorney-at-Law 713 McFADEN. MISS IDA E.. Stenographer 201 McGINN. HENRY E.. Attorney-a:-Law..3tl-313 McKELL. T. J.. Manufacturers' Rprsenta- tlve 301 MILLER COLLECTION AGENCY 302 MILLER. DR. HERBERT C. Dentist and Oral Surgeon 608-600 MOSSMAN. DR. E. P.. Dentist ,512-513-311 MANHATTAN LIFE INSURANCE CO.. of New York, W. Goldman. Manager. .,...200-210 McELROY, DR. J. G. Phys. & Surg.701-702-703 McFARLAND. E. B.. Secretary Columbia Telephone Co...... .......................000 McGUIRE. S. P.. Manager P. F. Collier. Publisher 415-413 McKIM. MAURICE. Attorney-at-Law 500 MUTUAL LIFE INSURANCE CO.. ot New York: Wm. S. Pond, State Mgr..... 40 1-403-403 MUTUAL RESERVE FUND LIFE ASS'N; M. T. ICady. Mgr. Pacific Northwest. ...004 003 NICHOLAS. HORACE B.. Attorney-at-Law. .713 NILES. M. L.. Cashfer Manhattan TAta In surance Co.. of New York... ..........203 OREGON INFIRMARY OF OSTEOPATHY; Dr. L. B. Smith. Osteopath.... 408-403 OREGON CAMERA CLUB 214-215-21-217 PERNIN SHORTHAND SCHOOLj H. W. Behnke. Prln 211 POND. WM. S.. State Manager Mutual Ufa Ins. Co. of New York 401-405-409 PORTLAND EYE AND EAR INFIRMARY.. .; ....Ground floor. 133 Sbcth stree- PORTLAND PRESS CLUB 718 PROTZMAN EUGENE C. Superintendent Agencies Mutual Reserve Fund Lire, ot New York ...............004 PUTNAM'S SONS, G. P.. Publishers... 313 QUIMBY. L. P. W.. Game and Forestry Warden - .....718-71T REED & MALCOLM. Opttclnn5..133 Sixth street REED. F. C. FUh Commissioner.. ...... ....407 SAMUEL. L.. Manager Equitable Llf.......30J SANDFORD. A. C. & CO.. Publishers' Agts..013 SCRIBNER'S SONS. CHAS.. Publishers; Jesse Hobson. Manager... ......... .315-316-31? SHERWOOD. J. W.. Deputy Supreme Com mander. K. O. T. M ......517 SMITH. DR. L B.. Osteopath ...408-409 SONS OF THE AMERICAN REVOLUTION .500 STARK. E. C, Executive Special. Fidelity Mutuat Life Association of Phlla.. Pa.. 301 STARR & COLE. Pyrography , 403 STUART. DELL. Attorney-at-Law...615-C16-ClT STOLTE. DR. CHAS. E.. Dentist 704-703 SURGEON OF THE 5. P. RY. AND X. P. TERMINAL CO 708 STROWBRIDGE. TH03. H.. Executive Spe cial Agent Mutual Life, of New Yort 408 SUPERINTENDENT'S OFFICE 801 TUCKER. DR. GEO. F.. Dentist 010 011 U S. WEATHER BUREAU 006-007-003-809 V. S. LIGHTHOUSE ENGINEERS. 13TH DIST.. Captain W. C. Langfltt. Corps of Engineers. U. S. A.......... ........803 U. S. ENGINEER OFFICE. RIVER AND HARBOR IMPROVEMENTS. Captain W. C. Langfltt, Corps of Engineers, U. S. A.... 813 WALKER. WHiL H.. President Oregon. Camera Club ... 214-215-210-21? WEATIIERRED. MRS. EDYTH. Grand Sec retary Native Daughters .,. 710-71T WHITE. MISS L. E.. Asa't Sec. Oregon Cam era Club 214 WILSON. DR. EDWARD N., Phys. & Sur. 304-5 WILSON. DR. GEO. F.. Phya. & Surff... 706-70? WILSON. DR. HOLT C. Phys. & SUrg...50T-503 WOOD. DR. W. L., Physician..... ...412-413-414 WILLAMETTE VALLEY TELEPH. CO... ..613 A feT more elegant offices mny be had by applying to Portland Ivuat Company ot Orejron, 100 Third at., o9 to the rent cleric In the bulldinjr. Cblancard'sjS IODIDE OF IRON forANEMI A. POORNESS of the BLOOD, ' CONSTITUTIONAL WEAKNESS SCROFULA, Etc. None genuine unless signed "Blancakd" ALL DRUGGISTS, E. FOUQERA&CO.. N. Y. 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