THE MORNING OREGONIAN, FRIDAY, JANUARY 31, 1908.
SEVERE BLOW TO
.E
NAPOL
MORSE
Receiver Asked for Consoli
dated Steamship Company
of Atlantic.
TRUST GOES ON THE ROCKS
Ambitious Building of Xcw Steamers
.Followed by Panic and Failure of
JIor.se Receiver to Hold
Fending Reorganization.
BOSTON. Jan. 30.- Proceedings In
this city for a receivership for the
Consolidated Steamship Company were
instituted simultaneously with those in
the courts at Portland, Me., and New
York today. The action was brought
by William A. Muller. of Arlington,
Mass., whoso counsel filed three bills
of complaint against the Consolidated
and also against two subsidiary com
panies. In his bill of complaint Mr. Muller
declares that the Eastern Steamship
Company has a total floating debt of
$1,300,000 and that the Metropolitan
Company has a floating debt of
Jl.8ii0.010. with unpaid bills of $2o0,
000 and Interest on outstanding bonds
of $1, 203.000. The Immediate cause of
the petition was the failure of the
Kastern Steamship Company to pay a
demand note to Mr. Muller for $1,003.
Morse's Vaulting Ambition.
The difficulties of the Consolidated
steamship Company are regarded by
bankers In this city as the result of
excessive steamship building and fail
ure on the part of the company to pro
vide a sinking fund for the underlying
bonds of the six companies that wejje
consolidated by Charles Morse. It was
Mr. Morse's ambition to control a
large steamship company engaged in
the coastwise trade- Two years ago
he consolidated all the steamship
lines running between Boston and
Maine ports under the head of the
Kastern Steamship Company. He then
went further and obtained control of
the Metropolitan Steamship Company,
with a line of boats between this city
and New York, and later secured four
lines running south from New York
the New York and' Cuba mall route,
known as the Ward line; the Clyde
steamship Company, the Mallory
Steamship Company and the New
,York-Porto Rico Company.
The Consolidated Steamship Com
pany, a Maine corporation, was then
formed as a holding company for
these six lines, with an authorized
bond Issue of $60,000,000 at 4 per cent,
and $62,030,000 in stock. The total
amount of bonds for the six companies
was $21,969,000 at 5 per cent and stock
$62,000,000. Later additional bonds
were issued by the various companies,
which brought the amount to $24,624,
V00. A greater proportion of these
bonds is held by private individuals,
but the stock of all is owned by the
Consolidated Steamship Company.
Squeezed by the Panic
As soon as the consolidation was ef
fected, a contract was made for con
struction of a number of steamships, and
the 'first production in this line was the
Harvard and Yale, which ran between
this city and New York for two -months
last Fall. The financial condition of the
Consolidated Company during the latter
part of the Summer began to attract at
tention, especially when it was learned
that over $3,000,000 had been taken from
the earnings of the six companies, in or
der to pay for the Harvard and Yale.
A month later came the crash in WTall
street and the resignation of Mr. Morse
from a number of financial Institutions in
Xew York. The market price of the
Consolidated 4 per cent bonds declined
rapidly, and in November a protection
committee was ordered with the follow
ing members: E. J. Berwind, president
or trie Berwlnd-W hite Coal Company: EL
J. Mallory. 11. P. Booth, W. H. Gran
gers', A. w. Krech. all of New York
Galen Stone and Henry Hornblower of
Hoston. and Governor William T. Cobb
of .Rockland. Me.
Short of Ready Cash.
Through the efforts of this committee
the former owners of the four New York
lines. Ward. Clyde, Mallory and New
York and Porto Rico, a committee was
formed to meet the current bills of these
lines, provided bonds of each were pooled
on October 3. The floating debt of the
Consolidated Steamship Company was
comparatively small, but there were a
number of bills and Installments on
steamships in course of eonstrnction com
ing due. notably J2SO.O00 on January 1,
198, and fW.OOO on January 1, 1909. This
year s claim was paid, but it came from
the earnings of the company for the
previous year, leaving so much less for
coming operating expenses. This lack of
money In the treasury during the oast
few weeks necessitated postponement of
payment or comparatively small bills,
and finally resulted in the application for
a receiver today by interests understood
to oo frlondly to the corporation.
The protection committee has been
working hard upon a plan of reorganiza
tion for the Consolidated Steamship Com
pany.
DItlKNT YIj EXPECTS TO OPEN
Withstands Heavy Run and Has
Help In Sight.
NEW YORK. Jan. 30. President
Hugh Kelley, of the Oriental Bank, a
ptate institution, which withstood a
run today, gave out a statement about
midnight tonight that he believed the
bank would open tomorrow morning
for business. A meeting of the direct
ors will be held at 9 o'clock tomorrow
morning, he added, at which the ques
tion of opening would be definitely
determined. The announcement was
made after a meeting of the president
and several directors of the Oriental
Bank at the former's home.
Following the closing last night of
the New Amsterdam National and the
Mechanics & Traders, a state bank,
there was a run on the Oriental during
the day, which Jt successfully with
stood. All depositors were paid
promptly during the day and it was
given out at the close that the bank
would be able to secure all the assist
ance necessary to tide it over the run.
as It was understood that friends of
Frcsldt-nt Kelley had come to his aid
with $1,000,000, and that he would be
ablo to secure 'further 'assistance, if
needed, from the clearing-house.
"Of course these banks." said Presi
dent Kelley. "while offering to ad
vance us $1.000,30.3. sought to protect
themselves, and as a provision of
their offer they asked our directors to
individually guarantee a proportion
ate share of tho sum agreed upon.
"When this offer came to us over
the telephone our directors were in
session and I Insisted that under no
other conditions would the kindly of
fer be accepted. The proposition was
then put to the directors and seven or
eight acquiesced in the plan, but we
found that two or three of the direct
ors were hampered by partnership
agreements which prevented them from
Immediately acquiescing.
"These directors were not pressed
upon the point during the day, but
will declare their position at the meet
ing tomorrow."
BANK EXAMINERS IX CHARGE
Closing of Xew York Banks Causes
Run on Others.
NEW YORK, Jan. 30. Bank examiners
took active charge today of the affairs of
the New Amsterdam National Bank, and
the Mechanics & Traders Bank, a state
Institution, both of which clased their
doors yesterday. Both of the banks were
included in the Morse-Heinze-Thomas
chain of banks, and after the closing of
the National Bank of North America a
few days ago, there had been what prac
tically amounted to runs upon them. Both
of them were still unable to take up their
allotment of the certificates which the
Clearing-House Issued during the. string
ency beginning in October and when tho
renewed drain upon their resources be
gan, ' the Clearing-House authorities de
clined to further extend their " credit.
Fearing heavier withdrawals today, the
officials of both banks decided last night
to close their doors today.
WASHINGTON, Jan. 30. Bank Ex
aminer Charles A. Hanna, temporary re
ceiver of the .National Bank of North
America, was today appointed temporary
receiver of the New Amsterdam National
Bank of New York.
GAS KILLS NINE MINERS
EXPIjOSIOX WRECKS COAL mine
IN WEST VIRGINIA. .
Sad Familiar Story From New
River Sixteen Escape With
Slight Injuries.
CHARLESTON. -W. Va., Jan. 30. Nine
miners met death in the New River col
liery,. 45 miles from here, near Hawks
Nest, this afternoon, In an explosion
that partly wrecked the mine. Twenty
five men were In the mine at the tim"e
of the explosion and eight of the nine
dead were Instantly killed. The other
16 escaped with only slight Injuries.
At nightfall seven of the dead had
been Identified. They are: Grover
Bowles, Lawrence Sharp, Harry Wilson,
Wilbur Wilson, Gradlson Coles, Charles
Workman, William Hoffman.
DENIES DOUBLE DEALING
(Continued From First Page.)
as the matter contained in the first speci
fication, it is absolutely true; as to the
matter in the second specification, it is
(tue so far as it is possible for me to
know."
Dr. Kaplan, whp for the first time con
sented to be interviewed on the subject,
was asked if it was true that he was re
quested by Assistant . District Attorney
Heney to accompany him to : Judge
Dunne's chambers In order to obtain from
him the assurance that he would allow
Ruef to withdraw his plea of guilty, as
stated by Rabbi Jacob Nieto in his state
ment. Dr. Kaplan corroborated Dr.
Nleto's assertion that Judge Dunne gave
such assurance.
ATTEMPT TO FLY MEANS DEATH
Rumor of Intended Escape Causes
Orders to Shoot.
SAN FRANCISCO, Jan. 30. The Call
says today:
Warned by a persistent and well-defined
rumor that Abe Ruef, grown frantic on
the eve of trial, has planned in detail
an escape from custody to be accom
plished on the lonely road between this
city and the county jail. Sheriff Dolan
has doubled the guard over the prisoner
and has taken every precaution to pre
vent the carrying out of the suspected
plot.
Two Deputy Sheriffs, fully armed and
with Instructions to keep Ruef prisoner
at any cost, now accompany him in his
automobile during all the time he Is ab
sent from the jail, and the strictest orders
have been issued concerning the methods
to be adopted at the first suspicious sign
made by either the fallen boss or the
chauffeur in charge of the car.
Should Ruef attempt to put into exe
cution the plan which it is believed has
already been arranged, the first appear
ance of a rescue party would be the sig
nal for action by the Deputy Sheriffs to
the end of preventing their prisoner ever
leaving the automobile alive.
HAS FOUND RCEF CHAUFFEUR
Burns Locales Latham, the Much
Wanted Witness.
SAN FRANCISCO, Jan. 36. Detective
Burns asserts that he has located Alex
ander Latham, former chauffeur for
Abraham Ruef, an important witness in
the bribery-graft cases, who mysteri
ously disappeared several days ago,
though he refuses to state the present
Whereabouts of the missing man.
Doctors Will Examine Glass.
SAN FRANCISCO, Jan. 30. The State
Supreme Court today continued to a week
from Friday the application for a writ of
habeas corpus by Louis tflass that he be
released on bail pending the decision of
the Appellate Court as to the validity of
the judgment rendered by the jury In
Judge Lawlor s court. The prosecution
in the meantime will have two doctors ex
amine Glass as to his illness. Affidavits
will be submitted to the court, taking the
place of an oral hearing. Glass was re
manded into the custody of the Sheriff.
BOURNE DELAY NG
SCHUEBEL REPORT
Realizes That His Nominee
Will Not Be Confirmed
by the Senate.
WILL BE GIVEN HEARING
Heney Not Posted on Affairs.
"I am not In touch with the affairs in
San Francisco and have not been since
I came to Portland," said Francis J.
Heney last night, when shown the state
ment made by Abe Ruef, "and in conse
quence I am not in a position to discuss
what is going on in the Ruef matter."
Beyond this Mr. Heney declined to dis
cuss the Ruef case.
St. Paul Officials Off to Orient.
SAN FRANCISCO. Jan. 20. J. H. Hi
land, third vice-president of the Chicago,
Milwaukee & St. Paul, in charge of traf
fic, and F. A. Miller, general passenger
agent of the same line, left on the
steamer Mongolia today for Japan and
China. Their object in visiting the Ori
ent is to look over the field and ascer
tain for themselves the business that
could be secured from the Orient when
this road shall have entered Seattle. The
Chicago. Milwaukee & St. Paul is well
on its way West, and -if nothing unfore
seen occurs it should be in Seattle In
about one year's time. Arrangements
will be made with a Japanese steamship
line to handle through traffic
Report That Scliuebel May Be Re
quested to Withdraw His Candi
dacy and Accept Appointment
as Deputy Attorney.
OREGON-IAN NEWS BUREAU, Wash
ington, Jan. 30. Senator Bourne is stu
diously delaying action on Schuebel's nom
ination, in order that he may have time
to evolve a plan whereby both he and
Schuebel can avoid defeat at the hands
of the Senate. Though he was for some
time confident that Scheubel would be
confirmed. Bourne now realizes that the
confirmation is impossible and, further
more, he knows that If the Judi
ciary committee should act next
Monday it would report adversely and the
Senate would promptly follow the report
by rejecting the nomination.
Bourne has been assured that the sub
committee having the nomination now in
hand will not report until he appears In
Schuebel's behalf. Therefore, Bourne
will not appear this week, and action
next Monday will be impossible.
just how Bourne will extricate himself
from his present embarrassing position is
not piain. Though he has demonstrated
his strength at the White House, he
knows that a vote on Schuebel will place
on record his lack of strength in the
Senate, and this he wishes to avoid.
in some quarters it is believed Bourne
fully appreciates the situation and will
inform Schuebel that he cannot be con
firmed, and suggest to him that he ask
for withdrawal of his nomination.
It is also rumored that Bourne is ar-
ranging to have Schuebel made Assistant
District Attorney, If he withdraws from
the contest for Bristol's office. Such
appointment could be made by the Attorney-General
and would not require
confirmation by the Senate.
SAYS MONEY IS LOOSENING UP
Montie Gwinn Gets Cheering News
on Financial Outlook.
OREGONIAN NEWS BUREAU, Wash
ington, Jan. 30. Montie Gwinn. president
of the Commercial National Bank of Pen
dleton, is here for a few days. After a
conference with prominent bankers in
New York, he is particularly pleased with
the financial outlook, and has received
assurances which satisfy him there will
be ample cash available to permit carry
ing forward all legitimate enterprises In
the West. The money situation Is stead
ily improving and cash is loosening up
for all except speculative projects.
Revenue Cutters for the Coast.
OREGONIAN NEWS BUREAU, Wash
ington, Jan. 30. The Senate commerce
committee today favorably reported Sena
tor Fulton's bill appropriating $250,000 to
build a revenue cutter for duty on the
Oregon Coast. The Senate passed the
Piles bill to build a revenue cutter for
duty on the Pacific Coast.
Hearings on Fulton Rate Bill.
OREGONIAN NEWS BUREAU, Wash
ington, Jan. 30. The Senate interstate
commerce committee has set February 1
for commencement of the hearings on the
part of the railroads opposing Senator
Fulton's amendment to the rate law. A
large number of railroads have applied to
be heard.
Sell Siletz Indian Land.
OREGONIAN NEWS BUREAU. Wash
Jan. 30. Senator Bourne introduced a bill
providing for the sale at public auction
or scaled bids, of reserved land In the
Slletx Indian reservation and appro
priating $300,000 for purchase.
KILLS WIFE IN JEALOUSY
Stockton Carpenter Then Turns Gun
on Himself.
STOCKTON, CaL," Jan. 30. Following
a violent quarrel, wlth jealousy as a
basis, J. A. Martin; a carpenter, of this
city, murdered his wife and committed
sulcldo early today at the Sol Light
place, near Waterloo, eight miles east of
A DISTINCTIVE HOTEL
St Regis Not Only the Finest but the
Most Comfortable in New York
SOME POINTS IN ITS FAVOR
Mctzger fits glasses for $1.00.
None of New York City's great hotels
has been more talked about than the
St Regis, at Fifth Avenue and Fifty
fifth Street. Recognized as the finest
hostelry in the world. Its chief claim to
popularity lies in the fact that it
offers the largest measure of refined
personal comfort at standard prices.
The St. Regis has come to be recog
nized as the leading living and dining
establishment in New York. It is not
an experiment, but a well-established
necessity in the city's hospitality. It
has been tried and tested by thousands,
and not found wanting. It represents
a 'superior phase of hotel life and
stands unrivaled for comfort and home
likeness. On this subject the London
Times, in an article published soon
after the St Regis opened its doors,
remarks: "If a great art connoisseur
planned to. furnish a house so, that it
would give the highest pleasure and
comfort to his intimate personal
friends, he could do no more than the
St Regis does for all its guests."
For some unaccountable reason, liv
ing at the St Regis has been consid
ered by many as a luxury beyond
their means, and all sorts of foolish and
exaggerated reports have been circu
lated regarding the prices prevailing
there. The truth is, that the cost of
living at the St. Regis is no greater
than at other first-class hotels, and,
considering Its exceptional accommo
dations and service, it is even less.
This is shown by the fact that a beau
tifully furnished room of large size
may be had for $4 a day, or the same,
with private bath, for $5 a day. Parlor,
bedroom and bath from $12 upward.
The restaurant charges are no higher
tiian in ouu first-class hotels.
The Pills That Core
WEAK
WOMEN
"My limbs ached and I had a
terrible pab in my right side. My
weight fell from 1 45 pounds to 99
pounds. I . had no appetite, my
kidneys were affected, and .1
had headaches, backaches and
fainting spells. . As my doctor did
not help me, I tried Dr. Williams
Pink Pills and now I am cured
and in the best of health. Dr.
Williams Pink Pills built up my
whole system and I gained 30
pounds in weight." Mrs. Jacob
H. 'Denny, 257 North Division
SL, Buffalo, N.Y.
A booklet of valuable information, en
titled "Plain Talks to Women," will be
sent free to any woman. It is particularly
interesting to mothers of growing girls
who become pale, thin and listless as they
approach womanhood.
Dr. Williams'
PINK PILLS
foe. per box; 6 boxct, (2.90, at all druggists or front
Dr. WiliUxn Medicine Co., Schenectady. N. Y.
Stockton. The two had been separated
for some time and the woman had gone
to Light's place to work as a domestic.
Martin went there last night and a vio
lent quarrel ensued. It was feared that
he would do her harm, and officers were
sent ,for. Upon their arrival, however,
the man could not be found. He left
word that he had gone to Lodi.
Barly this morning he returned, shot
hia wife, and killed himself with the
same weapon. Eight children survive.
J. W. Crawford Recovering.
LOS ANGELES, Jan. 30. J. W. Craw
ford, an attorney of Olympia, Wash., who
was stricken with paralysis here last Sun
day and was expected to die, is recover
ing. Indications at first pointed at an
attempt at suicide by means of illuminat
ing gas-, but this is found to be a mistake.
ONLY TWO DAYS MORE OF OUR
Clearance ,
Sale
Men's $18 Overcoats and
Raincoats, Sale Price . .
$11.50
"Cluett" and "Star" Shirts in
Fancy patterns; soft and stiff
bosoms; cuffs attached or de
tached ; $1.50 values
this sale . . . .
95c
Elgin" Golf Shirts
(union made) fancy pat
terns, $1.25 vals., pTJ
this s,ale . . . OC
Wool Underwear in
fawn and gray; regular
$1.00 values; this "TC
sale per garment '
AIL Silk Neckwear, reg
ular 50c values, or
this sale . . . OOC
Three for $1.00
Big Lot of Broken Lines in Boys' Knee Pants
Suits and Overcoats, values up $5.00 djo EZ(
your choice at . . ..... . pOvr
NBLATT CO.
Corner Third and Morrison Streets
HAND-TINTED SCENIC PHOTOS.
Kiser's Originals. 248 Alder st.
Bye glasses $1.00 at Metzger's
DISCUSS LAND-FRAUD CASE
Appropriation for. Benson-Hyde
Trial Stricken From 'Bill.
WASHINGTON, Jan. 30. The ap
proaching trial In this city of Hyde, Dia
mond, Benson and Schneider, charged
with conspiracy to defraud the Govern
ment out of public lands in Pacific Coast
territory, provoked considerable discus
sion In the House today in the course of
the consideration of the Urgency De
ficiency Appropriation bill. The bill car
ries a provision requiring that the ex
penses of the trial shall b'e borne en
tirely by the United States, but it was
stricken out on a point of order 'by
Mann, of. Illinois.
Chairman Tawney made a vigorous de
fense of the provision, because he said it
was unfair to saddle the cost of the
trial on the District of Columbia. Need
ham, of California, was coinciding with
him, but Mann insisted on this point, re
marking that in a number of conspiracy
trials recently in the District of Co-,
lumbla, the Government had paid the
bills when the expenses should have been
charged to the District of Columbia.
Burlington1 Closes Shops.
LINCOLN, Neb., Jan. 30. Orders were
received yesterday temporarily closing
the Burlington shops at Havelock be
ginning Thursday morning. The same
order closes the repair shops at Lin
coln and extends to the shops at Alli
ance, Plattsmouth, McCook and Sheri
dan, Wyo. Six hundred men were af
fected at Havelock and smaller num
bers at the other towns. A plan of the
company is to have the brief shutdowns
from time to time rather than dis
charge any of the force. It is thought
the men will work at least half time,
probably more.
New Tork Forming a bucket brigade, the
nun. of the Academy of the Sacred Heart, at
The Bronx, extinguished a fire in their new
chapel before the firemen arrived.
CHINESE TO MAKE STEEL
America May Supply Machinery (or
Bis Plant.
NEW YORK, Jan. 30. An enormous
steel plant is to be erected at Hankow,
China, by a company composed entirely
of Chinese capitalists, primarily for the
purpose of supplying steel for the con
struction of the various railroads in Cen
tral Northern China. It Is believed, how
ever, that the plant will at some time be
come a factor in the general steel trade
of the Far East.
It is estimated that the initial cost of
the new plant will be about J6.000.000. and
inquiries are being made In America with
a view to placing orders here for the
greater part of the equipment.
New steel plants are also projected in
i Japan and India, the total cost of the
three plants being in excess of 125,000,000.
Perfect fitting glasses 1 at Metzger's.
Mail Orders Receive
Our Most Prompt and
Careful Attention
The Fashion Center
Entire Corner of Fourth
and Morrison Streets
ONLY I
WO
DAIS
MOEE
Only two days Friday and Saturday remain in which to take advantage of the grand inducements we have
been offering throughout the month of January. For these two days we will surpass all previous records
in the way of value-giving. Our object has always been' to let none surpass and very few compare with us
as to the quality and style of garments in our stock. We have our own buyer in New York City, who is con
stantly buying up the very latest ideas and styles, and express packages of ladies' wearing apparel and fur
nishings are pouring in daily. .
ONLY TWO DAYS MORE
in which you may take your choice of our suits and coats at lowest prices.
For Friday and Saturday only, your choice of all our Fall and Winter suits and coats at one-half price.
Greatest "bargains ever offered, the usual Silverfield quality.
EXTRAORDINARY MILLINERY SPECIAL
Your choice of any hat in our establishment, consisting of pattern, street and dress hats.
. . . 4Ks Jr-x. . A il f J ! 1 1 1 .t?
values from $a.UO to $zu.uu, ax xne naicmuusiy iuw pnue ui .
$1.98
ONLY TWO DAYS MORE
REMAIN IN WHICH YOU WILL BE ABLE TO OBTAIN THE FINEST FURS ever offered to the people
of Portland, and at the very lowest Clearance Sale Prices. ,
EXTRA SPECIAL .
Best values ever offered. For Friday and Saturday we offer an immense large assortment of Neckpieces,
stoles, boas and throws, all of the season's best styles, all elegantly made and lined.
These furs consist of many different furs, namely: Real Alaska Mink, Japanese Mink, Brook Mink,
Sable Squirrel, Siberian Squirrel, Gray Squirrel and many other popular furs. Values to $20.00, for $8.2o
Also smaller fur neckwear of Japanese Mink, Brook Mink, Sable Squirrel, Siberian Squirrel, Imitation
Ermine, Imitation Chinchilla and Brown Coney. Values to $12.00. Your choice $5.2a
"SEE LARGE WINDOW DISPLAY ON MORRISON STREET."
Muffs to match all Furs. Highest Prices Paid for Raw Furs by Selling to Manufacturers Such as the Silver
field .Company you Save the Middlemen's Profit. Send for New Price List.
REMODELING AND REPAIRING OF FURS AT GREAT REDUCTIONS