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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Nov. 13, 1907)
THE MORNING OREGOXIAX. WEDNESDAY, NOVE3IBER 13, 1907. GETS ATLANTIC OUTLET Buys Georgia Central and May Sell It to Illinois Central. HARAHAN MAKES THREAT I'nion Pacific May Cut Off Traffic Kelatlons ir Fish Wins Fight." Morgan Squeezed Ilarrinian In Georgia Central Deal. NEW YORK, Nov. 12. (Special.) Ther were two sensationnl developments In, the Illlnota Central fight today. One was the discovery that E. H. Harrlman had nought the Georjtia Central Railroad last Spring through Oakleigh Thorne and that J. Perry is planning to sell it to the Illi nois Central. The other was a veiled threat made by J. T. Harahan, president of the Illinois Central, in a circular letter to the stockholders, that the traffic rela tions between ihe Union Pacific and Illi nois Central might be severed if Mr. Har rlman does not retain control of the Illi nois Central. The circular says that the traffic inter change with the Union Pacific and South ern Pacific is vastly more beneficial to the Illinois Central- than to the other lines. Mr. Harahan adds: "The Union Pacific hac several excellent outlets eastbound from Omaha, and need riot give a pound of freight to the Illinois Central." According to the Wall-street story of the sale of the Georgia Central Railroad to Mr. Harrlman. Mr. Thorn and Mr. Perry, the ostensible buyers, received a commis sion of $150,000 for purchasing control. Mr. Harriman then borrowed $2,700,000 of Mr. Thorny Trust ' Company of America on Georgia Central stock. Mr. Harrlman was required to put up only $300,000 in cash, the purchase price being $3,000,000. The loan by the Trust Company of America of $2,700,000 on $3,000,000 worth of Georgia Central stock was one of those objected to by J. P. Morgan, who refused to take it over until Mr. Harriman had put uj a large amount of Union Pacific and other gilt-edged securities. IIAKAHAX REOPENS CAMPAIGN Issues Circulars In Ileply to Charges Made by Fish. . CHICAGO. Nov. 12. President Harahan, of the Illinois Central Railroad, today re opened the active campaign for proxies to he used at the proposed annual meet ing of the railroad company on December IS. He issued two circulars to the stock holders of the railroad company, in one of which, after narrating the facts regard ing the procuring of an injunction by Stuyvesant Fish restraining the voting of certain shares of stock, he says: Of course. If Mr. Fish's claim that cor porations cannot vote or lioltl stock in Illi nois corporation be sustained, then every In furance company, trust company, savings bank or other Investment company wher ever situated, which has invested in the Illinois coupons will suffer disastrous loss, and al persons Interested as policyholders or stockholders in such companies will like wise suffer In the second circular Mr. Harahan aaid: Effort has been made to create the im pression that since Mr. Fish was retired as President, the Illinois Central Railroad Com pany has undergone an entire change of management. This is not true. No cilunges in traffic relations with the Union Pacific or with the Southern Faclfic have been made during the past year. The traffic arrange ments with the I'nion Pacific and the South ern Pacific Railroads now in force are those which were made when Mr. Fish was Presi dent. Mr. Flarahart discusses at considerable length the charge that misstatements re garding the accounts of the property, and asserts that all of these have been cor rectly and properly kept. The circular concludes as follows: In these days, when public sentiment with regard to corporations is so disturbed, a heavy responsibility ought to attach to the making of an unfounded charge of fraudul ent conduct amounting in law to forgery, against the management of a great railroad corporation. Such a charge. If believed by the over-credulous, injures and discredits not only the officers of the company, but the corporation itself. , LOW FAKES AT THE START Statehood Proclamation, of Okla homa Brings 2-Cent Rate. ' OUTHR1K. Okla.. Nov. 12. That the passenger fares on all Oklahoma rail roads will be automatically reduced t a maximum of two cerits a mile by the Statehood proclamation is the opinion of Governor-elect C. N. Haskell. "The low fare law goes into effect im mediately." he said. "The companies will have a chance to present their side to the corporation commission at. any time. The beginning of the Statehood regime Is the beginning of the low fare era." Oklahoma agents are of the opinion that the tiiree cent rate w-ill be con tinued In effect until new orders are issued by general passenger agents. No notice to the effect has been yet re ceived here. MONTANA OBJECTS TO HATES Millmcii Say Increase Would Put Them Out of 'Business. HELENA, Mont.. Nov. 12. About 12 of the leading lumber companies of Flat head County -today filed suit in the United States Court against the Great Northern Railroad Company, seeking to prevent putting into operatlpn an ad vance of freight rates on lumber. The complaint asserts that under pres ent freight rates Montana mills cannot compete in Washington nor east .of Devils Lake, N. D., but that the new rates would utterly put them out of busi ness, rendering valueless property worth millions. CONFERENCE ON TAXATION National Tui Association In Session at Columbus. COLUMBUS, 0.L Nov. 12. The Na tional conference "on National taxation under the auspices of the National Tax Association, opened In this city this afternoon with more than 300 delegates, including leading economists and tax exports from every state In the Union and several provinces in Canada and HABHlMAN a number of Governors of states in at tendance. Tho princioal addresses at the ses sions this atternoon and tonight were delivered by Lawson Purdy, of the New York Tax Assessment Board. and Charles A. L. Reed, of Cincinnati. Mr. Purdy, as well as other speakers, em phasized the necessity of interstate comity in taxation and Mr. Reed pro posed a council of the states, to draft uniform laws not only on taxation, but on other subjects concerning which uniformity of legislation is desirable. IS HELD UP ON . BRIDGE Albert Bell Meets Lone Highway man and Loses $2 9. . Albert Bell, business agent for the lo cal Sheet Metal Workers' Union, was held up at the east end of the Morrison street bridge by an unmasked highway man early this morning, and robbed of $29 in cash. Bell had been calling on friends living on the East Side and was on his way to his room at the Grand Hotel about 12:30 o'clock when he was robbed. When Bell first caught sight of the highwayman the latter was lean ing over the railing of the bridge, gaz ing into the water, apparently wrapped In meditation. That the fellow was merely doing a. bit of acting Bell soon discovered. The moment Bell attempted to pass by him the thug whirled about and Bell found himself looking into the muzzle of a big, black revolver while the highwayman murmured Hands up, young fellow, and shell out." Bell elevated his hands and the robber quickly searched him. "Now on your way and don't you look back: Just keep moving," the thug commanded, and Bell hastened to comply, not stopping until he reached a telephone on the West Side, where he rang up the police and reported the robbery. Bell describes the robber as a middle aged man, of medium height with dark hair slightly streaked with gray, and a stubble of three days' growth covering his face. He wore a long black over coat and a black Blouch hat. The robber appeared to be an old hand at the game. Bell said, and went about his business cooly and with great de liberation. REFUSE CARRIE NATION W. C. T. V. WUl Not Let Her Ad dress Assembly. NASHVILLE, Tenn., Nov. 12. The National Women's Christian Temper ance Union today re-elected Mrs. Lil lian Stevens, Portland, Maine, president;. Miss Anna A Borden, Evanston, III., president-at-large, and Mrs. Hanna M. D. Fry, Evanston, 111., corresponding secretary. r The Resolutions Committee report adopfed declared for the same stand ards of purity for men and women, and for woman suffrage. A resolution, the object of which was to stop football, was voted down. The platform rejoices over inaugu ration by the Secretary of Commerce and Labor of "An inquiry into the dis graceful traffic whereby innocent young women are brought from and carried to foreign lands under pretense of securing honorable employment, bit? In reality are taken to dens of infamy. We appeal to the nations of the earth to bring this iniquitous traffic to a ter mination." Mrs. Carrie Nation asked to be al lowed to speak, but was refused. She later addressed a large audience across the street. VERDICT IS AFFIRMED Seven -Missourians to Suffer for Holdirrg Negroes in Peonage. ST. LOUIS. Nov. 12. The decision of the- lower oourt, finding seven Missouri ans guilty of peonage and imposing prison sentences, was affirmed today by an Opinion handed down simultaneously at the office of the Federal Court of Ap peals here and in St. Paul. Their pun ishment was fixed by sentences to im prisonment ranging from one year ar six months to three years and six months, and fines ranging from $100 to $5000. The men were charged with keeping 40 negroes at work on plantations near Sikcston, Mo., guarding them day and night, and depriving them of their lib erty. THOUGHT DEAD, BUT FOUND Captain and Crew of EI Alexandria Brought Into Guayaquil. GUAYAQUIL. Nov. 12. The captain and crew of the Norwegian bark El Alexandria, who long ago had been given tip for lost, were brought in here today "by the vessel sent out from this port some weeks ago to search for them. With the exception of one man, an American named Frederick Jeffers, the officers and crew of this ill-fated ship are now all accounted for. GETS STEELE TO CONFESS (Continued From First Page.) . and might still have been pretending to love the slayer of her husband had it not been for the attempted murder of Marshal McKenney Sunday morning. McKenney had followed Steele home, and the murderer suspect knew he was being shadowed. He entered his room ing-house, but immediately went out another door, and with all possible haste reached a place he knew Mc Kenney would pass. It was the fact that he was in a hurry that saved Mc Kenney's life, as the bullet went a trifle wide of its mark. The Marshal, thinking it waa Steele who fired the shot, watched the house and saw him softly enter the building a few hours later. Knowing that his life might be taken any moment, the matter was brought, to a focus, as all the evidence necessary "had Been secured. - Effort to Resist Arrest. Last gight three policemen knocked on Steele's door, and when he saw who it was he tried to slam shut the door. The officers forced it open and demanded that Steele accompany them. They were determined, and although h,e resisted for a moment, he finally gave in and went peacefully to the station. He had been alone until this afternoon, when A. M. Able, attorney, called and was allowed to see him. Mrs. Todd spent a portion of the day closeted with- Marshal McKenney and Prosecuting Attorney Boner. The hear ing will be tomorrow afternoon. Grocery Company Fails SELMA. Ala.'. Nov. 12. The Gary Grocery Company, . one of the largest wholesale firms in Central Alabama, was declared bankrupt this afterndon and E. Lemar was appointed receiver. The liabilities are "estimated at more than $100,000. Assets yet unknown. Bad collections are given as the cause of the failure. HURRY TO INVEST Brokers' Offices Are Swamped With Orders. SMALL INVESTORS CHIEFLY Many Orders Come From Europe for , Industrial Stocks in Small filocks. Railroads Opening Many New Accounts Since November 1. NEW YORK, Nov. 12. Brokerage houses here which-make.a specialty of dealing in small lots of standard indus trial and railroad shares, continue to be swamped with work, and houses with foreign connections report a wave or buying orders from Europe, which is unprecedented. Probably the most B "2 111 ,'-t, P i H . ii iitliniiim ' a I I LTJ?-" NEW BAKER THEATER 1' DENVER. The above is an exterior view of t opened November 3 with the Stockwell-Twenty-one.' Franklyn Underwood too Mary Stockwell the part of Phyllis. O whom are well known in Portland, are C Bloomquest, who played "The Imp"; E MacGregor. Miss Frances Slosson an pany this' week. GeorEe I.. Baker, o a curtain speech after the th-d act of t with enthusiasm. striking; feature of the financial situa tion at present .is - the big scale on which this investment buying, by per sons with small savings, is going on. James L. Carter, in charge of the stock transfer department of J. P. Morgan & Co., is authority for the statement that in practically every im portant railroad stock listed, the new stockholders who have recently invest ed their savings chiefly in small lots, represent from 25 to 50 per cent of the total number of stockholders enrolled. Mr. CarteV says that the purchases average not more than 20 or 30 shares to the individual, that they appear to be for Investment rather than specula tive purposes and that the orders come from all parts of. the country. Tho transfer office of the United States Steel Corporation is a week be hind on Its routine work. The Union Pacific and Southern Pacific Railroads report an increase in the number of stockholders at the rate, since the first of the month, of 300 a day. The Rock Island has opened between 600 and 600 new accounts In the last six weeks, mostly in. the common stock. The num ber of stockholders of the Chicago, Mil waukee & St. Paul has increased by 500 in the last two weeks. The activity in Pennsylvania Railroad stock has been so great of late that figures of recent date are unobtainable. AUTO COMPANY IN TROUBLE Receiver for Royal Motor Car Com pany Appointed. CLEVELAND, ' O., Nov. 12. The Su perior Savings & Trust Company today was appointed receiver for the Royal Motor Car Company in the United States Court. The proceedings were instituted by E. W. Cottrel, of Detroit, and Will K. Cochran, of Chicago, a stockholder and creditor: The action is brought to conserve the company's affairs during the present monetary stringency, it Is stated. The company employed 400 men, and its yearly business now aggregates $1,500,- 000. Under protection of the receivership, the company will, according- to Presi dent Shurer, be able to continue the till ing of a large amount of orders. The statement issued by Mr. Shurer says the company possesses assets amount ing to more than $650,000 in excess of liabilities. MINT WORKS LATE AT NIGHT Turns Out Golden Eagles -at the Rate of 4000 an. Hour. PHILADELPHIA, Nov. 12. The Unit ed States Mint today distributed $1,000,000 in gold o;ouble eagles to the subtreasury in this city. It is stated that within the next three months the mint here will coin 52,000,000 in gold double eagles. This enormous amount of gold will be distributed among the subtreasurles in various parts of the country and will be expected to relieve the money stringency. The loca mint is- well equipped to contribute its share of the shower of gold that has begun to fall upon every part of the United States. Many of its employes are working overtime, how ever, and it has become a nightly oc currence for coin counters, weighers, adjusters and others to work as late as 10 o'clock before the hour for quit ting work. New machinery has been installed in the mint and its efficiency demon strated in tho operation of the "split collar," a device for putting stars on the edge of the newly designed eagles. Ther are 46 stars on the edge of each piece because of the- approaching ad vent of the new state of Oklahoma to the Union. The machinery at the mint is capable of grinding out 4000 of these pieces in an hour. There is now at the mint enough bullion for the manufacture of $20,000,000 in double eagles, but more bullion from various sources is being diverted to the big institution. As soon as $150,000 in .half-dollar pieces .or a similar amount in .quarters is sent but from the mint, within a day or two, the attention of the work ing force will be devoted exclusively to the task of meeting the require ments for gold. EUROPEAN GOLD STILL COMES Nearly $60,000,000 Has Already Been Engaged Abroad. NEW YORK, Nov. 12. The movement of srold from the vaults of EuroDean banks I to the United States, which has been In he Baker Theater o Denver, whtah- was MacGregor Company In "When We Were k the role of Richard Carew and Miss ther members of the company, some of ilfford Dempsey, character man: George dward Emery. Joseph Dailey, and Norval d Miss Lillian Andrews joined the com f Portland, manager of the theater, made he opening performance and was greeted progress for several weeks, in which the unprecedented total of nearly $60,000,000 has been engaged abroad for import, still continues. . The total, which passed the $55,000,000 mark yesterday, was increased today when the Illinois Trust & Savings Bank of Chicago completed negotiations for the Importation of $1,000,000. ' This engagement makes the total to date $56,080,000. . - Heidelbach, Ickelheimcr & Co', today engaged another $1,500,000. bringing the total up to $57,780,000, and the Na tional City Bunk, of Chicago, reported the engagement of $200,000. WILL ISSUE NO CERTIFICATES Chicago Bunks Decide to Get Alorlg Without Scrip. CHICAGO, Nov. 12. The Chicago Clear-ing-House Association announced today, after a meeting of its members, that no clearing-house checks will be issued in this city immediately. It is the opinion of local bankers that the situation will right itself without compelling the banks to resort to clearing-house scrip, and a plan has been proposed by which the bank embargo against the payment of cur rency can be lifted gradually. Just what policy will .be followed will be deter mined within a few days. Relieved In Chicago. . CHICAGO, Nov. 12. With Chicago banks the richer by nearly $3,500,000 in gold, it is confidently stated that the money scarcity will not be prolonged be yond a few weeks. While the banks con tinued to engage more gold abroad, the clearing-house rushed the work of get ting out its "cashless checks" in small de nominations, which will be used locally In lieu of currency. "It was the generaL opinion at the meet ing of the clearing-house today that the tension had been appreciably relieved," said John J. Mitchell, president of the Illinois Trust & Savings Bank. "All of the gold reserve cities reported the situ ation much Improved. The report from abroad is that London is getting gold plentifully from the Continent, thus mak ing It less difficult for American banks to engage gold in Great Britain. I have en gaged $500,000 more today,-anaking a total of $2,500,000 for this bank " Declare No Copper Dividend. NEW YORK. Nov. 12. Directors of the Parrott Silver & Copper Mining Company, one of the subsidiary companies of the Amalgamated Copper- 'Company, today voted not to 4eclare the usual quarterly dividend of 25 cents per share. The direc tors announced that omission of the divi dend was due to curtailment in produc tion, depression in the copper industry, and to the fact that the ores treated are of a lower grade than formerly. Ravenswcod Exchange Bank Closes. CHICAGO. Nov. 12. The Ravens wood Exchange Bank, a small institution in the suburb of Ravenswood, closed its doors today. The bank is small and has no connection with the Chicago clearing house. The Dank was a part nership concern. Its suspension. created no stir in financial circles. The deposits amount to 350,000. The bank's officers declare it is entirely solvent, and that nobody will lose through the suspension. H is said that j some of the assets, while deemed good, , are of a character wnlcn made cnem slow In realizing, and withdrawals were heavy and it, was considered best to w'nd up. . .. . The Chicago Title & Trust Company was later appointed receiver of the bank. ONE' OAKLAND BANK CLOSES California Bank Embarrassed by Closing of Ally. OAKLAND, Cal., Nov. 12. At the ear nest solicitation of the Oakland Clear-lng-House Association, the California Bank, D.- Edward Collins president, at Twelfth and Washington streets, did not open its doors this morning and will take advantage of the legal holi days. The closing of the bank of Will iam Collins & Sons at Ventura, of which D. Edward Collins is also presi dent, affected the California. That bank is supposed to owe enough to the local institution to have embarrassed it, but merely temporarily. Mr. Collins believes that during the holidays he will be able to get together sufficient funds from available assets to reopen shortly. The California Bank was incorpor ated September 1, 1887. Its officers are: T. Edward Collins, President: John W." Phillips, Vice-President; Frank H. Brooks, Cashier. Confidence- Is Returning. VANCOUVER, Wash., Nov. 12. (Spe cial.) Today was a very quiet day with the Vancouver banks. It is stated that the situation here is now well in hand and that a feeling oi confidence is returning. None of ne banks of this city had any connection with the Merchants' National Bank of Portland. Flat money Is in circulation In Van couver and Is generally accepted at its face value by the people of the city. One case of swindling has come o the notice of the local au thorities. Ah Toy, a Chinaman, re turned $4.85 in change for a certificate of $5 face value and later discovered that the paper was a certificate issued by the Merchants' and Planters 'Bank of Atlanta, Ga., In 1S60. The Chinaman stated, that the man who passed the- bogus certificate had a large number of papers in his posses sion. The police are keeping a sharp lookout In the hope of capturing him. Small Pennsylvania Bank Closes. PITTSBURG, Nov. 12. The People's Bank of California (Pa.), near here, a state institution, closed its doors late to day. The following statement was Issued by President A. B. Duval: "The bank le closed pending an exam ination of the books by. the State Exam iner. The financial stringency and other reasons not disclosed are responsible for. this course." - ' . . The capital of the bank is $75,poo and the surplus $15,000. , Immediately following the closing by State Bank Examiner Willette B"inns, Oli ver Piper, the cashier, and William L. Lenhart, a Pittsburg businessman, who lives In Brownsville, Pa., were arrested,' charged with conspiracy to d-efraud the bank. Both waived examination and were held under heavy bond. ' Much Gold Comes West. . SAN . FRANCISCO. Nov. 12. Bankers today reported the financial situation in San Francisco to be "improving steadily," and the outlook as "very encouraging." Within the last three weeks gold in ex cess of $7,000,000 has been transferred t the New York Sub-Treasury, the major portion of It going to local banks. The remainder was distributed among Wash ington, Oregon, Nevada, Utah and Cali fornia banks outside of San Francisco, having Eastern balances due them. The new clearing-house certificates of $20, $10, $5 and $1 denominations are circulating freely and' being accepted readily in trade. President Homer S. King, of the Clearing house Association, says today that the suspension of the Union National Bank, of Oakland, yesterday in nowise affects the banks of San Francisco. - Indian Territory Bank Suspends. SAPULPA? I. T.. Nov. 12. The Farmers & Merchants Bank of this city, cap italized at $50,000, suspended business to day. The bank announced that business will be resumed and depositors will be paid In full. Bates Barnett is cashier. The bank is heavily interested In oil properties and is unable to turn them into money. The bank's officials have made no statement of its assets and liabilities. Charge No Interest to Cuban Banks. HAVANAT Nov. 12. Owing to a mis understanding of a paragraph, in the gov ernmental decree offering $5,000,000 to the banks of Cuba to meet crop .demands, It was presumed that this money was to pay 6 per cent interest. The facts are, however, that the loan does not carry interest until July 15, 1908. Buying Gold in England. LONDON, Nov. 12. The United Statwrf to day bought a3,0O0 in bar gold and 50.000 in American eagles from the Bank of Eng land. . R0SENE IS THROWN OUT Revolution in Management of North western Commercial Company. NEW YORK. Nov. 12. (Special.) Pre dictions made yesterday that there would 6a important changes in the management of the Northwestern Commercial Com pany were verified today. At the meet ing held in the offices of the Gufcgen helms, W. R. Rust was elected president and general manager, to succeed John 'Rosene whose official head spun into the basket. - , - . It is said that friction has existed for some time between the executive com mittee appointed by the Morgan interests and Mr. Rosene, or some other, executive official. The owners of the company de clined to discuss the change, but said It was made In the interests of harmony and better development of the properties included in the concern. Disease attacks only those who are susceptible to it, because of a weakened con dition of the body general ly due to improper food. Grape-Nuts food is made of whole wheat and barley, scientifically .employing moisture, time and heat Nature's own way of chang ing the starch of the grains to a form of sugar (the most digestible substance known) which a weakened human system can absorb and use to build itself back to sturdy strength. Proper food will generally put disease to flight., "There's a Reason." . Read "The Road to Well, ville," in pkgs. T NDS HAVE KIDNEY TROUBLE AND iTil Villi - i 15. ; : P v I m 8 ;. i-rrr l r-.rn Weak and unhealthy kidneys are responsible for more sickness and suffering than any other disease, therefore, when through neglect or other causes, kidney trouble i3 permitted to continue, serious results are sure to follow. Your other organs may need attention but your kidneys most, because they do most and should have attention first. If you are sick or "feel badly," begin taking Dr. Kilmer's Swann Root, the great kidney, liver and bladder remedy, because as soon as your kidneys begin to get better they will help all the other organs to health. Prevalency of Kidney Disease. Most people do not realize the alarm ing Increase and remarkable prevalency of kidney disease. While kidney dis orders are the most common diseases that prevail, they are almost the last recognized by patient or physicians, who content themselves with doctoring the efTeeis, while the original disease undermines the system. The mild and immediate effect of Swamp-Root, the great kidney, liver and bladder remedy, in soon realized. It stands the highest for Its remarkable cures in the most distressing cases. Symptoms of Kidney Trouble. Swamp-Root is not recommended for everything but If you are obliged to pass your water frequently night and day, smarting or Irritation in passing. If You Need a Medicine You Should Have' the Best. Swamp-Root Is alwys kept up to its .high standard of purity and excellence. A sworn certificate of purity with every bottle. SAMPLE BOTTLE FREE To prove the wonderful merits of Swamp-Root you may have a sample bottle and a book of valuable information, both sent ab solutely free by mail. The book contains many of the thousands of letters re ceived from men. and women who found Swamp-Root to be just the remedy they needed. The value of Swamp-Root is so well .known that our readers are advised to send for a sample bottle. Address Dr. Kifmer & Co., Binghamton, N. Y.; be sure to say you read this generous offer In the Portland Daily OregOnian. 5V iM.ulll,llllli:iillilllllliil,lSsn " m. TpHE long cool evenings, and a long cool smoke of tobacco ! with delicious flavor and fragrance that is happiness. V Especially if the odor is pleasing to non-smokers, and the fume J are soothing and gratifying. None other equals LUCKY STRIKEoSo Easilv IcrTens alicrVlt dan tin wmt Indoors or out. Does not blow The name of w PATTERSON 1 Pocket Size, V3 rtiiiiiiiiu;c.;j.:.-i(!H'ijijl::';i,J, iff r THE NEW POLICIES of the COLUMBIA LIFE 6 TRUST CO. 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