Morning Oregonian. (Portland, Or.) 1861-1937, May 11, 1901, Image 5

Morning Oregonian., May 11, 1901, Page 5, Image 5

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Newspaper Page TextTTTE MOKNTNG OftEGONIAN, SATURDAY, MAY 11, 1901. TALKS OF THE CANTEEN CHAPLAIX BATEMJLST POrKTS OUT OBJECTIONS TO IT. Does Kbt Favor Re-establlanment, But Sera Results Depend X.argdr on Manner of Administration. VANCOUVER, Wash., May 10. Since the abolishment of the Army canteen by act of Congress, Vancouver barracks has not had a fair opportunity to test whether or not conditions have improved, from, a temperance standpoint, among the soldiers of the regular Army. The troops here have been changed so often ' that each pay day has found new ones here, and those gone who were here on the preceding pay day. Consequently It hat been difficult to ascertain whether drunkbimess Is more prevalent now that ' the soldiers have to go outside the post to secure liquor than It was when they could procure malt beverages in ostensi bly moderate quantities Inside the lines. Vancouver barracks is peculiarly In terested, however, in the canteen ques tion. It was here that the first canteen was established in the regular Army, -. and it existed here many; years before any other posts in the country adopted the system. The first canteen was estab lished in Vancouver in 1S1, and the sec ond one was not operated until about " 10 years later at St. Louis. The officers stationed at Vancouver barracks, like their brethren of the Army elsewhere, are in favor of the re-estab-llshment and continuance of the can teen. They affirm that it tends to pro- ' mote temperance among the men; that the soldiers will drink anyway, and that if they are supplied with beer that Is the majority of them they will not go outside of the post to drink whisky and other fiery liquids. This view of the question was voiced by many of the officers who were ap vproached on the subject today by an Oregonlan correspondent. They admit of course, that there are many of the en listed men whom beer will not satisfy, and who will perforce seek stronger drink elsewhere. The necessarily enforced or der and good behavior of the canteen, moreover, does not appeal to these men, while the freedom and unrestrained hi larity permitted in the saloon of civil life does appeal to them, they say, but the ordinary enlisted man they repre sent as being content to drink mildly at the canteen. Chaplain Bateman Differs. Chaplain C. C. Bateman, of this post, differs, however, from the majority of Army officers views on the canteen question. He has had the opportunity to observe the workings of the canteen In many posts, and while he does not con demn It so sweeplngly as do many tem perance advocates, be believes that Con gress took a step in the right direction when it passed the act abolishing It. Moreover, he does not favor Its re-eetab-llshment. Mr. Bateman said today: "I have been reluctant to be drawn Into this canteen discussion, but since you request me to give my opinion on the subject I will do so as clearly as I can. I am not prepared to denounce Indis criminately the canteen, nor can I give It my unqualified condemnation. When It Is conducted strictly according to reg ulations its evils are reduced to a mini mum; but when the regualtlons govern ing it are administered In a lax manner, it becomes a positive evil, and no amount of profit can Justify Its continuance. "Perhaps In the beginning I had better explain what the canteen is. It Is a place where beer Is the principal article of sale. True, other articles, such as no tions, stationery, jack-knives, cologne, etc., are all on sale in the canteen, but the great profit Is made on beec, and this has come to be recognized to such an extent that when one speaks of the canteen, beer is the first thought that comes to the mind. "The canteen Is governed by a canteen officer designated by the post comman der. This officer conducts the canteen and is entrusted with the enforcement of its regulations. After deducting the operating expenses, a canteen council, composed of officers, divides the profits pro rata among the companies at the post. This money goes into the company fund and is used mainly for improving the enlisted mens mess table. For in stance, butter and fresh milk are not furnished by the Government, and the canteen profits are utilized in purchas ing them for the men. Often It Is used for the construction of a bowling alley or a gymnasium. Soldiers' "Clubs" a Myth. RIght here I want to say that I have never seen in my experience a canteen conducted on the plan of a soldiers' club, such as the advocates of the system are wont to describe in such glowing colors. Such places may exist, but it has never vbeen my experience to see one. Neither havc I ever seen a decent reading-room conducted in connection with a canteen. Even under the most favorable circum stances the canteen has the appearance of an ordinary beer saloon, while under lax administration it has the appearance of what we call the beer Joint.' "I have been stationed at Vancouver, at Asslnnlbolne, Mont., at Fort Sherman, Idaho, and at Fort Wright, in Spokane County, this state and have observed the workings of the canteen system In all these places. I have never known of an instance where any of the canteen profits jtvere devoted to the building up of the Tjo"t llbtury. and the regulations make It the dutjof the Chaplain to su pervise and have charge of the post li brary. Had the money been so used I would have known of It. "At all the places mentioned civilian bartenders have been employed. I have known these bartenders to be paid as high as 560 per month. So far from the liquor Interests being hostile to the can. teen, it is an actual fact that the canteen building at Fort Wright was erected by the Galland-Burke Brewing Company, of Spokane, with the understanding that the beer sold to the soldiers was to be purchased from them, an understanding that -was never violated by the post com mander or canteen officer. "I am also told, how reliably I can not positively state, that the fixtures of the canteen here in Vancouver were owned by the local brewery, and that its beer tvos sold exclusively to the soldiers as a consequence. I know that when we started from Fort Sherman to Cuba the Anheuser-Busch man trailed us clear to Tampa, Fla. He was with us con stantly while we were camped at Chlcka mauga, and only left us when forced to do so by our embarking for the Island. "I do not credit the statement that the allied liquor Interests of the country were behind the movement for the abol ishment of the canteen, and from reli able and authentic sources we know that the stories told of the establishment of saloons in the near vicinity of Army losts since the abolishment of the can teen are gross exaggerations, and abso lutely untrue in many Instances. Vari ous religious papers of the country have Investigated them, and found them to be such. Depends on Administration. "Of course I am compelled to admit that the evils of the canteen are gradu ated considerably according to the ad ministration of It. If the rules forbid ding gambling in the canteen, and pro hibiting the presence of women around It are lived up to, credit held down as low as possible, and the officer in charge de votes more attention to the welfare of the soldier than to the question of mak ing profits, the results will not be so bad as otherwise: but I know of many In stances where a lax administration has resulted In almost incalculable evil be ing wrought among the men. "Above all, there are many young men who enlist In the Army to whom the very name of the saloon Is offensive. These young men have been taught not to drink by their parents, and if liquor were barred out of the post they would not be tempted: but the canteen, distin guished as it is from the offensive sa loon, is a constant temptation, and It is little wonder that many of them yield. In fact, among the hundreds of letters which I have received from soldiers' mothers, the main point of objection raised against the canteen is its alleged attractiveness which its advocates have so dwelt upon. Clothed in a. pleasant guise, the mothers fear far more from this so-called soldiers' club than they do from the open saloon. "The Mayor of Vancouver, Mr. John son, Informs me that the town has never before been so quiet as It Is now, nor disorderly conduct on the part of sol diers so infrequent. I do not say that this Is a result of the abolishment of the canteen, but can only point to it as an undisputed fact. "The taking away of the profits of the canteen from the company fund pinches Just now, and Its deprivation 4s seriously felt. But I would not restore the can teen for the purpose of remedying this condition. The United States Govern ment is too big and too great to sell liquor to pay the soldiers' board bills. Far better the Government furnish out right the luxuries which the canteen profits have beretofore purchased than restore the canteen. Congress has taken a step forward, and it should not now go backward. The Army officers favor the canteen because of the use to which Its profits are put, and I -admit that a great majority of them, are favorable to re-establishment of It; but I believe that some better method can he devised for the furnishing to the soldiers or xne luxuries they crave some method that does not involve the sale of liquor." TRADE HAS BEEN GOOD STOCK PANIC DID NOT BUSINESS. INJURE Weather Conditions Have Been Fa vorable for Crops New "Wools Moving Slightly. Are They True to Their SexT The Dalles Chronicle. The Oregonlan publishes the names of over 100 women of Albany and a score In Roseburg who signed the petition for the pardon of Hugh Patterson, who is serving a term In the penitentiary -for a most hellish assault upon a 14-year-old girl in a box car at Cottage Grove. This' is one Instance where it will not be pleasant to see one's name In print. It is impossi ble to conceive what could have been In the heads of these 10 score of women when they signed this petition. The thought cannot be entertained for a moment that they condone Patterson's damnable crime, and yet these presumably virtuous ma trons and misses would have this gross and lecherous beast again turned loose upon society to ruin and debauch the first young girl that comes In his way. The Oregonlan has done a good service ta public and private morals In publlshinfi these names. It will have the tendency to restrain other virtuous and reputable women from making fools of-themselves. A Pull All ToeetKer. iostlne Bulletin-Leader. Every county In the state should as sist. In making the Portland 1905 fair a grand success. AT THE HOTELS. THE PORTLAND. Chas Dawson. Tacoma H C Chesebrough, S F, a unannauser, n x S E Lewis, Duluth W J Ball, San Fran H Relss, Chicago G W Backus, ilinnpls Geo A Ballard. N Y M I Behrend. N Y H T Noyes. Jr. Roches ter. N Y J J Shau?hnessy, S F Tneo Warner. K Y Geo R Griffith. S F Frank Jajnes, San Fr J E Davis, wr & chd W L Peachy. Wash Mrs A L ilohlcr Miss R Mohler Miss M Mohler Baron JJ Lehmauer & valet, Holland Valdemar de Beck, Copenhagen M Van Meteren, Holland THE PERKINS. C G Branch, St Joe W G Hoeing, Tacoma R H Ponent. cltr Berr Martin, Elma,Wn i uuy. Seattle J T Johnson, city E B Sealmlnk, city D A McClem. city P W Ralston, Sheridan is J uronson, Tacoma I I Frank, Spokane Alex Newman, S F W S Byers, Pendleton W R Stansel, Jackson ville Edwin Fowler, Cleve land. O W L Mercer. Chicago Mrs Daniel, Aberdeen Miss Daniel, do Miss Gertrude White, Sioux City Miss Nellie Reese. Turner, la Mrs Frank Slmonds, Astoria A B Little. Houlton Mrs F Kennedy, Ska- mokawa Mrs J G Kennedy, Olympla Miss Grace Kennedy, Olympla Miss Margaret Ken- nedv, Olympla Mrs Gwinn, Goldendale A T Hofer. Jr. Salem T R HIbbard. SlKertn C O Anderson.Rochestrl J P Landsley, Spokane Mrs Landsley, do Rufus Drum, city Geo M Bush, Hannl bal. Mo J Wise & wf, San Fr ueo A Luke, city W H Muldoon. Brook lyn. N Y hestcr F Lee. Victoria F C Armstrong, Wash J F Baker & w. Ogden Roy Baker, Ogden Hugh McDonnell. N Y W H Mead. N Y R D Merrill. Hoquiam Dr W Anderson & wf, San Francisco H W Bloom. San Fran J G Wilson. Kansas C Geo H Robinson, N Y Roger Duval, Va A Meyerheim. N Y F W Murphy. Denver Alex TurnDuil, Chey enne Alex Cohn. San Fran E M Bent. Chicago H J Ilett. Chicago E C Carroll, Denver J A Gelsendorffer, The Dalles S B Leighton. Mlnnpls B Bissinger, Phila M Manasse, Coshoc ton. O Vic Shaw, Sah Fran J D Hollon, Boise W E Leltner, Hunt ington, Or C Y Lynde, Chicago Mrs u v i,ynae, do A M Long, N Y -: u KJiox. san Fran W L Stark, Aurora.Neb Mrs Stark. do A P Caylor, La Grande A V Scheppelman, S F John D McGowan, McGowan, Wash Emily L Reickhoft, Or ange City, la Miss Mary Plumden, do Mjron R Berger, K C H E Leland, San Fran L H Mclntire. Chlcaco A McF S Allan, do Eugene France, Aber- aeen. wash W S Cone. Bar Cltv.Or Geo E McMnhon, Omaha ti j seeiey. Blaine, Wn E Applegate, Drain, Or R Newton. Moro Mrs Newton, Moro B Harris, city B F Wellington. S F C A Ferris!. Tacoma Wm Nlsh, Tacoma Mrs Nish. Tacoma J E Marks. Aurora Mrs M Schneider, Eu gene. Or IA S Fester. KnaorJa Leonard Bolter, Pasa- MIs Foiter. Knanna dena. Cal IH S McGowan. Chinook J E Brockway, TacQmalE E Williams, Oreg C Cecil Walker, HoqulamiJohn A Long. St Paul J M Sponsel. St Paul.JA E Lake, The Dalles Minn I THE IMPERIAL. C. W. Knowlec. Manager. W Holman. city IMrs H F Putman, On- Z S Richardson, city tario. Or B Lm Lawton, city l P Burnett, Denver j. u van ue uxuer, Kent Richard Smith, Spokn W G Davis, Ashland, Wis Del Smith, Spokane Mrs Smith. Spokane Maurice Elsenberg, SFj J ivey, city R Burns, O R & N Co; H Caseman, San Fran Mrs Caseman. do NEW YORK, May 10. Bradstreefs to morrow 'will say: ,One looks In vain at this writing for any evidence that the general business of the country has been in any way in terfered with by the severest fall in prices In the history of the New Tork, Stock Exchange. A very general con clusion reached Is that the crisis is pure ly a "stock panic," not Involving or con nected with the general Industries of the country In any way. There will not, in fact, be a bushel of wheat or a ton of coal less In the country as a result of this convulsion. Speculation In grain and other staples. has, however, been checked Dy tne concentration oi interest upon tne stock market. General trade advices this week are, In the main, rather more favorable than those of last week, mainly because of the improvement In crop prospects due to sea sonable rains following planting. The lull in the active buying demand for Iron and steel noted last week Is even more pronounced today, but this is mainly be cause mills and furnaces are already heavily sold ahead, and large Y-onsumers, having placed orders, are now awaiting delivery. Bank clearings, swelled by enor mous stock operations, break all records. Gross railway earnings continue to show satisfactory Increase, and failures are down to a normal minimum. The textiles are still the soft spot In the general situation, and are still dull. The feature of the week In the crop situation Is the arrival of rains throughout the North west, which has placed the Spring wheat crop, now nearly all planted, In excellent condition. In the Southwest and Central West crop reports are generally good. Weather con ditions on the Pacific 'Coast are more fa vorable for crops, and a good yield of grain Is Indicated. ' Wool Is slow on sale, but there is more movement in new wools at the 'interior. Large manufac turers are practically out of the m--ket More new business Is notable in iron and steel than for some time past, but prices are steady and firm at last week's quotations. With mills and furnaces, run ning to their full capacity, the pig Iron output on the first of the month Is said to be the largest in the country's his tory, exceeding the boom of February, 1900. New business Is small In rails, but Inquiries are numerous. Large consum ers of pig Iron In the Chicago district have covered their wants for six months to come. Reports from the boot and shoe trade are in a high degree encouraging. Or ders for Fall delivery of boots and shoes are Increasing, and manufacturers are active. Wheat, including flour, shipments, for the week aggregate 4,178,872 bushels, against 5,100,763 bushels last week; 3,480, 574 bushels In the corresponding week of 1900; 3,284,182 bushels in 1899, and 3,646,543 bushels in 1898. From July 1 to date this season wheat exports are 181,095,110 bush els, against 169,516,176 bushels last sea son, and 204,482.650 bushels In 1898-99. Failures for the week number 193, com pared with 163 last week, 184 in this week a year ago, 164 In 1899, and 250 in 1898. Canadian failures for the week num bered 26, against 17 last week, 19 In this week a year ago, and 21 In 1899, 25 in 1898, and 31 In 1897. was recognized. Even, with the rise of the stock to 133 It was at first deemed to be a matter of secondary Importance, but when Northern Pacific stock became scarce In the loan crowd "and the rate for the borrowing of it was quoted flat or without Interest and finally at a pre mium, as was the case on Tuesday, It was then understood that a collision be tween great railroad and banking in terests" had taken place. The .full significance of the situation was 'seen when Northern Pacific common -scored to over 149 on Tuesday and the rate at which It could be borrowed over night was as high as Ifi per cent from the par value. On Wednesday the street was In practical possession of the fact that the Union Pacific .interests., objected to the Burlington deal effected by the Mor-gan-HUL allies In behalf of Great North ern and Northern Pacific, and had re quested that It be admitted to a one third interest In the transaction and be ing refused had proceeded to acquire the Northern Pacific stock to an amount sufficient to control the voting power of that" company and thus to dictate terms to the combination. On Wednesday there was a further ad vance of Northern Pacific to 150 and the stock loaned for use as high as 50 per cent, and the logical conclusion was that the Morgan-Hill people were also acquir ing stock; that the possession of a control by either was still a matter of doubt and that the consummation of the Burl ington purchase by the Great Northern and Northern Pacific In the form origi nally proposed might be defeated. The short Interest In the stock was also man ifestly large ana was due partly to the 'temptation to bears to sell the stock at its extreme advance and partly to the marketing of stock by foreign, arbltra teurs against! purchases made in London, from which city certificates cannot reach New "Tork' under 10 days' time. The representatives , of the rival parties naturally expressed a readiness to make the "matter easy for arbitrage houses by lending- shares flat or on reasonable terms, but It was otherwise with the rank and file of the shorts, among whom the. street believed some big speculative Interests were included. Dangerous as the situation in Northern Pacific was, it becarhe positively de moralizing to the market on 'Thursday, when hopes of a eettlement of the com plication did not bear frult-and the price of Northern Pacific common, under urg ent buying by bears called on to return borrowed stock forced the price to $300 tv crin -ro til on rt tTfirt onl fltiollv high as $1000. Violent variations in the price i ensuea, inougn assurance was given by the people who had accumu lated the stock that shorts would be treated with consideration and after the close on Thursday JVwas stated an agree jnept had been reached by which all parties could settle their shorts at $150. SSSBBBMBaBSSSSMnBBHMBBBMBBlBSBBSBgBgBSBaBnBBSHMsSBsaM 1 'MftKF THF X Tr-2ste KIsMIMM 1 &m jte i ITI 1 1 mm 9ZfH 3 I 3.H! fiSCHIFFjbi YCDlWtri RAKERS S' NEW YORK. ESBERGGUNST CIGAR CO. DISTRIBUTERS PORTLAND, OR. Bank Clearings. NEW YORK, May 10. The following table, complied by Bradstreet, shows the bank clear ing at the principal cities for the week ended May 0, with the percentage of increase and decrease, as compared with the corresponding week last year: Clearings. Inc. New York ,$2,001,385,000 159 2 Dec. jyvs's REVIEW. Miss B M Buckham, jjonmoutn N N Craig. San Fran S Hartman, Chehalis G H Chllcotc. San Fr James R Robertson, Forest Grove F R Davis, N Y J M Hoe. N Y J A Burden, Westmin ster. B c IMrs F B Eaton & 3 ch. U ii .Miner, aeaixie f F A Seufert. Dalles J H Mason, Victoria W H Williams, WInstedjK Lontall, Birmingham Mrs Williams, do F J Greene, Tacoma M L Dawson. N Y Mrs Greene. Tacoma E H Bartlett, La Grd Dan O'Neill. Oregon C E W Rogers, Baker CIC A West. St "Louis Lex-1 Ankeny, W W Sam Dubrln. San Fr E N Johnson, Buffalo IMrs Carl Brown, Ta- Mrs Johnson, Buffalo R W Church. Dundee, m Mrs Church, do Mrs A Butler. Chgo Mrs L N Beers. Red lands Mrs J K Weatherford, Albany A B Weatherford. do Mrs A CoolIdge.ColfaxJMr N P Tomlinson, Thos F Kyan. Oreg cy Eastport Jas W Welch. Astoria 1W T Williamson, Sa- Mrs Welch, Astoria I lem Mrs James Keatlng.dolFrank H Stuart, S F Master James Keating. Mrs D M Metzger. Astoria ) Dallas A J Davidson. Hood R II J Van Outeren, Oakld THE ST. CHARLES. coma W W Powell, Tacoma Mrs D M Morgan, As toria Miss Morgan, Astoria W H Craig. Chicago B Van Dusen, Astoria Mrs A J Taylor. do Miss Mabel Taylor.do J D Burch. Chicago H Warnke, Florence Jas Qulnn, Quinns Geo Pltwood, Grand Rapids, Mich J B Loegrcn. Clats- kanlc Mrs E J Snow. Falr- !ew Mrs E F Wood, Hwaco' O E Bakkle W G Rhude & wife, Gray's River Roy Latham, Hillsboro Frank Lee. city B Haffey. Cape Horn (L P Swan. Champoeg D E Caldwell, Wis W A Reed, city F M Fales. Falerf Xxli John Fair, Goble j u oiiins & wife. Hood Rlvr. Or Miss P E Blair, do raui tiiair. Miner Blair, J A Blair. C A Heaton R Ballard H Eter FranlcJIett do do do Exceptional "Volume of Business Throughout the Country. NEW TORK, May 10. R. G. Dun .& I Co. s weekly review of trade tomorrow will say: A panic in Wall street does not mean that legitimate business has suddenly ceased to prosper, nor is the condition o mercantile trade and manufacture ad versely affected by a violent fall in prlcea of securities. Throughout the entire coun try fundamental conditions were never so sound as at the present time, reports from nearly every city this week showing an exceptional volume of transactions and payments promptly met. Production is not overtaking demand at the finished steel mills, and alf Pitts burg plants are two months behind or ders, while 90 days Is the limit at many. Although the expected advance in bar iron did not appear, the tone continues firm and orders are liberal. Billets re main at the top point for prompt deliv ery, but reasonable terms are available on forward contracts. In structural shapes and railway equipment there is all the business In sight that makers desire, and no effort is made to secure additional or ders. Less urgency Is recorded In pig iron markets, but buyers do not find terms more satisfactory, and. In fact, forge and foundry Iron is rather more firmly held. Although the total number of furnaces In blast on May 1 was 40 smaller than on February 1, 1900, the Iron Age estimates the weekly capacity at 301,125 tons, which exceeds all previous high-water marks. The activity of steel manufacturing is emphasized by the decrease of 34,729 tons in furnace stocks during April, despite the unparalleled production. Less sensational" events happened In the cereal markets than In the preceding week, although quotations are slow to recede. Corn eased oft a few cents, but Is still about 10 cents a bushel or nearly 25 per cent above the quotation at the corresponding date In the two preceding years. Western operators continue to en tertain strong views and appear little daunted by the larger receipts attracted to interior cities by the unusually profit able prices offered. For the week arriv als aggregated 3,247,094 bushels, against 2.196,202 bushels last year. Foreign pur chasers have been driven out of the do mestic markets by the high quotations, and Atlantic exports for the week have been 1,211.244 bushels, compared with 3,709, SSO bushels a year ago. Shipments of boots and shoes from Bos ton rose to an unusual point, aggregat ing 103,328 cases for the week, against 79, 371 cases In the previous week, and 68, 151 In the corresponding period last year. The total movement since January 1 Is now but 30,000 cases below 1900 to date, and far above any other year. The situation Is similar regarding wool and woolens. Raw material Is abundant and a large clip probable, while manu facturers have only a large demand for goods. Eallures for the week numbered 187 In the United States, against 192last year, and 26 In Canada, against 15 last year. R P Rockett. city Frank Truelove, Toll man J J Kootz, Milton John Kelley J L Bartlett. RIdgefld Carrie Pouthlt, Bridal Veil Mrs J Dwyer. Cott Gr Ed Holloway, city I E WlWon. Pomeroy I A Davis, Clackamas F Grtgler & wile. Chase. Or John Kelley E N Darr, Buell, Or leorge Foster. Goble Thos McNary, Salem A K Burnett. Eagle Cr Joe Dunton & wife Miss Ruth Evans, Rock Point J M Snyder, Stella A Greiner, Condon B F Gfelner. Condon D R Adams D H Henshaw. TTonltnn Allcn Haworth, HHls- N G Drake, Salt Lake boro. Or Hotel nrnnsvrlcXc, Scuttle. European; first-class. Rates, 73c and up One block from depot. .Restaurant ncx: door. Tacoma Hotel. Tacoma. American plan. Rates. $3 and up. Donnelly Hotel. Tacoma. European plan. Rates. 59c and up. THE PANIC REVIEWED. Statement of Events Which Led Up to Wall Street Excitement. NEW TORK, May 10. Bradstreets' financial review tomorrow will say: Speculation on an unparalleled scale has at last resulted In a decline In prices of great severity, attended by sensational developments, although tne marKet re covered sharply onTrlday. The corner In Northern Pacific scock, and the con test for the control of that property be tween the Union Pacific Interests repre sented by Kuhn. Loeb & Co.. and the Morgan-Hill party was unexpected and unforseen. In fact, up to last Tuesday the street was more Impressed by the Idea that there was an effort on foot to obtain control of the Union Pacific for the Van tlerbllt Interest and the Northwestern and St. Paul systems than by the real danger with which It was confronted. The enormous trading In Union Pacific "hares gave point to this theory, but on Cast Monday when the dealings In Northern Pacific common stock rose to nearly 400,000 shares for the day and the buying assumed a concentrated form, the presence of some unusual factors Boston Chicago Philadelphia St. LOUIS Pittsburg Baltimore San Francisco Cincinnati Kansas City New Orleans Minneapolis Detroit Cleveland Louisville Providence Milwaukee St. Paul Buffalo Omaha .". Indianapolis Columbus, O Savannah Denver Washington. Salt Lake Springfield. Mass..... Fort Worth ., . Portland, Me..... .7.. Portland, Or ,... St. Joseph -i... Los Angeles Scranton '...' .... Grand 'Rapids Augusta Ga Loweil ...-. Dayton, O.. Seattle Tacoma Spokane Sioux City ..,. New Bedford - '.. 'Knoxville, Tenn..... Rockford, 111... .. ... Canton, O... Springfield, O Fargo, N. D Sioux Falls, S. D.... Fremont, Neb Davenport Toledo' ,. Galveston Houston Evansvllle Macon Little Rock Helena Springfield, IH Bloomlngton, IH Jacksonville, 111 Colorado Springs .... Wheeling, W. Va 171,244,000 102,280,000 112 080,000 03.024,000 43,540,000 24,045,000 23,430,530 21 021,000 18,974.000 12,070,000 11.001,000 10,701,000 12,132 000 0.802,000 0,334,000 0,120,000 4,780.000 0.088,000 6.7G0.000 7,007,000 7.200,000 2,003,000 4,102.000 3.255.000 4,359,000 107.0 1.450,000 17.1 2,701,000 11.4 1,289,000 24.0 . 2,252,801 14.5 '4,7047000' "7.1 3.454.000 43.0 - 1,704,000 .1,438.000 1,108,000 650.000 1.287,000 , 2,253,770 1.142,117 1.Q33.003 1,415,000 300.000 677.Q00 454,000 325,000 277.000 301,000 212,000 100,000 004,000 2,082,000 8,855,000 8,040 000 8S0.000 602,000 604,000 430,000 434.000 311.000 282.000 635,000 649,000 42.0 .... 10.1 .... 32.2 .... G8.5 22.6 .... 3.5 .... 20.4 .... 39.2 .... 23.7 .... 51.4 .... 33.2 II!! 20.6 ..".. 13.0 .... 11.4 .... 11.2 .... .... 12 8 45 .... 12.5 .... 24.0 .... 28 8 .... 4.4 5.8 11.3 67.3 40.7 27.T 11.7 iY.k 6.T 40.7 30.4 31.5 0 3 37.0 55.3 13.2 i6."6 31.5 33 154 11.2 14 8 78.7 10.4 CTHfl IM A DBCT DCliCM definite increase In values of railroad se- jlULl ITiMillYLl IXLVILlT curlties and furnished the great incen ALL ELEMENTS OP A PANIC "WERE PRESET. Totals V. S $3,413,408,591 107.2 Totals outside N. Y. $ 812,083.223 25.3 DOMINION OF CANADA. Montreal $ 20,412,421 Toronto 14,108,888 Winnipeg 2,104,200 Halifax 1,555.840 Hamilton 1,010,034 Victoria 752.475 Vancouver 808,005 338 32 7 3.0 1.4 21.2 5.3 4.7 Totals $ 41.750520 27.0 Collapse Caused by Northern Pacific Corner Trade and Business Not Disturbed. NEW YORK, May 10. Wall street's speculative bubble, which has been in course of inflation for weeks, was pricked this week, and the iridescent hues of stock gamblers' winnings disappeared with a pop in a cloud of spray. Even so soon as this the fact emerges that the vanishing spray represents prin cipally the speculative winnings, while the solid substratum of the country's profitable industries, the high earning powers of the rehabilitated railroads and the prosperous business and trade In all branches Is not appreciably affected." As Is the" case with all booms, the col lapse was caused by an accident. This was the corner in Northern Pacific, which has emerged from its mysteries and stands disclosed to public view in it& prin cipal facts and bearings. It is the nature of, a speculative boom, and it contains within Itself no corrective force, but rath er the material for Its own growth and excess. Buying for a rise In Itself In duces that' rise and furnishes the profits for renewed buying and renewed advance until the world joins the gathering horde of speculators to share In the sudden fortunes, and all available credits are drawn on to secure holdings, of stocks. None of these hondings are to keep, and the only incentive to buying is the hope of further rise. When any accident hap pens to endanger the continuance of the rise, the- demand therefor ceases abso lutely. When holders attempt to sell, first to take profits, then to save losses, there are no buyers. Prices decline and the credits on which holders depend shrink and they must sell. The shrinkage of the value of securities endangers the safety of loans for which they serve as collat eral, and bankers must be repaid. Money must be had on any terms to avert ruin, stocks are sold without regard to price, and a species of pace ensues. That Is what happened this week on the Stock Exchange. The remarkable feature of the collapse of fictitious values Is that it was precipitated by the very operations upon which the boom was largely based. These were the plans working out for consolidations of railroad systems, which stimulated dreams of ln- l Itive to the vast speculative buying. One railroad stock after anothw Tose- In price by wonderful leaps and bouuds under the Influence cither of actual negotiations for j absorption and consolidation or of ru I mors of such negotiations. j No later than last week Union, Pacific was rusnea to i&j per snare on me oexiei that it-was to be absorbed to form a link in a transcontinental railroad sys tem. The similar movements which had previously occurred in Northern Pacific, own as well as bringing ruin and disas ter to others, for fear that the stock, onca out of their hands, would be used to de feat their claims to control. The collapse also revealed the purely speculative character of the greater part of the recent large buying; which has been readily attributed by the heated im agination of speculators to buying for In vestments and controls by the great rail road systems, to be taken out of the mar ket and placed In strong-boxes and tho vaults of trust companies. Ther complete ness of the collapse seems to have thor oughly cleared the market of the reckless Burlington and St. Paul gave the specu- !,np(.,.int(vhnir'm nnd the market aulck lators the utmost confidence in following j realized that the low prices to which the movement, which marked another of stccks felI ll the demoralisation of Thurs the comprehensive advances in the gen- , ,1nv ,,. ,,nrf and as far fr0m ret- eral level of prices for railroad stocks, j reSpntinff heir true values as were the which was building up fortunes for the lucky ones" who had bought the shares. The development of a similar movement in Northern Pacific was hailed with jubi lation as another step in the boom. On Monday, when Northern Pacific was lift ed to 153, the whole list responded with an advance, and the buyers of stocks were crowding to the Stock Exchange to buy stocks again. A single broker bought C00, 000 shares of Northern Pacific that day, and continued to huy the next day. This particular buying had been variously at tributed to one of the contending parties tor the control of Northern 'Pacific, and to a speculator "who Intentionally sought to corner the stock and to squeeze the shorts. In. any event, the -stock was -cornered and the shorts were thrown Into alarm, and their unavailing efforts to find re sources to meet their obligations- served as the shock which toppled over the airy fabric of stock-market prices, reared on Insufficient credit, which therefore came I crashing down. On Wednesday night shorts paid as high as 58a00 for the privi lege of borrowing 100 shares of Northern Pacific common for delivery next day. On Thursday the stock sold on the exchange for $1000 per share, and the shorts began throwing over the holdings of other stocks on the weak market to realize money, and threw the market into a spasm of Inflated prices to which the boom had car ried them. The bargain-hur'er appeared in Wall street with the fu As which he never hazards In speculatl e booms, and, showed his willingness to pay prices for stocks far above those touched in the panic, and which would mean insolvency for many commission houses. The meas ure& taken by the banks to supply the needed mpney, and the settlement with the Northern. Pacific shorts, quieted the acute fears of holders of stocks, and a greater degree of confidence began quick ly to. be re-established. But It is not as sumed that the necessary adjustment of damages resulting from Thursday's shock are to be completed In a day. Bonds shared In the demoralization of stocks, biit to a much less extent. Ap parently a part of the selling of bonds was for the purpose of procuring funds to buy stocks at the low levels. United States new 4s declined 9, and the 3s and 5s Mt per cent, below the closing call. Let "Well Enough. Alone. Baltimore American. Now comes a Berlin professor to tell us this country is in danger because the women arc allowed too much to say in. affairs. Still, with all our social defects we seem to be worrying along pretty wen. ,. r, i"iT"nnirni n pni'-nd' &Bainst the) unprecedented violence. The disclosures supremacy of the American woman the growing out oi the Northern Pacific epl sode, that bitter and apparently Irrep arable animosities had grown up among contending groups of the country's largest capitalists, shattered confidence in all the supposed measures to secure community of Interests and the abolition of costly competition among railroads. It seems in credible that with the outstanding 800,000 shares the shorts could not borrow or buy shares for delivery at anyprice, and it marks the desperation of 'the struggle for control of the property that neither party should consent to lend of their abundant supply of stocks even to relieve the panic which was damaging projects of their f learned professor could get more results from his labor if he wouia go out uuin? against windmills. In Union Is Strength. Baker City Republican. Oregon should have a state commercial organization, headquarters at Portland and branches in vcry town In the state having a population of 10C0 or more. The. state organization should call meetings a6 Portland every three months. There arc six languages spoken In the Brit ish I'e- English, French, Manx. Irish, Gaelic and Welsh- - j sps 1?J0 IIMI Efli I It would be hard matter to find a ifiFS Jlf SU'lTfl JLtfiUJ woman who hasn't heard of GOLD JWjS! fta'", (IS fMJ 11? 1!F SS'K DUST Washing Powder, but there 1 tS Pi S&Km&d0 1LIJSI S !l I are still some who are not using it. mmammmmm S ' s 1 ffl v-ao. tn-.w 9 GOLD DUST takes the hard work pj i 1WSf JlPlli Hi RP-lil- 'I Some women are so constituted J I IIH IgSr ""-'-I-L M wlifeJill HJtui- B 7 p , , ,H JJiN-Tfr- the house work mill but the percent-. HlllllU. , , , , II IJJUr -- m m What is your strength ? jS'fm j mmmmmmmJH than "GOLD DUST;" ' t l I 0 ' M But there Is1 & day of reckoning v yf silaalgB ! calloused hands, are signs of "honest --V1- VyO"1fc-jy .tjsB;" ' sffjJISiii toil, but ao t ey pay t p gtiBpjBe00 sgjsssssiii " House work is hard -word without i.ajsaMpg , mt, mi!ss -111 1 GOLD DUST." , I' f .L'jjJIjIligjj