The morning Astorian. (Astoria, Or.) 1899-1930, May 10, 1901, Image 1

The morning Astorian., May 10, 1901, Image 1

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Newspaper Page TextASTORIA PUBLIC L1BBARY ASSOCIATIOii . flre wot to bo Taki Library without p i O'lO Iw..fl(J LTUlltV o will bo liable to pro? Books, Periodicals, M.iRarinoa, &o., . ft! 4 t lit'.rtn i.- : .... - . : 1 I " " - . I I 1 1 ii i ! in. ,. mii - i - hi iiini i i - i Mil 'in ii i I II Him ECLIPSE HARDWARE CO. Plumbers and Steamfltters Sole Agents Diamond IN GREAT VARIETY Bats, Balls, Masks, Pads, Gloves And everything else in that line to nuike the boys hapjy. If you do not j.luy tall wi can .show yoj an elegant lin of FISHING LINES. FLIES. REELS, BASKETS, ETC. GRIFFIN 3 t- - r ) O ) mm Fancy and Staple Groceries FLOUR, FEED, PROVISIONS, TOBACCO AND CIGARS Supplies of all kinds at lowest rates, for fishermen, Fanners and Loggers. Ae Ve ALLEN, Tenth and Commercial Streets We Rent New - - wo Dtars. pi., roruana, ore, -pf.f' F W. M'KECIIMIE, I.ocl Agent. ' ASTORIA. nKw;n i h i n i y miy in ioni vn tofcpfctgf Grapes Outfits AND AT ALL PRICES & REED Are You Golna to Build a Home? Buy Your Locks and Hardware at the Foard & Stokes Co DCDIITATinW ULl UlrtllUM REPRESENTS PUBLIC OPINION Reputation represents publlo opinion. How to m In your favor. Make a nrst-class, r liable article like the Char tor Oik Stove and Rant. Every Charter Oak la guar anteed. For sale In Aetorla only by W. J. SCULLY, 431 Bond St., Between Ninth and Tenth." Typewriters. Many new improvements added. See our latest 2 Smith Premier Ty&cwrUer New Art Catalogue Free . . . L. M. ALEXANDER A CO. FLORAL PARADE AT LOS ANGELES Reviewed by Present Sur rounded by Dignitaries. PICKPOCKET WAS PRESENT Relieve Secrctiry Wlltos aits' Colooel Moore ol Ibclr Pocketbooki bat Wn Ciifbr - Pirly Now (lots to Del Moilt. LOS ANdKLIW, CsJ Muy 9-From a broad blue-canopied jmvlllun. aur rounded by member of hi cabinet, the governor of Ohio and many notables of many mate, president McKlruVy today reviewed the lloral parade of the I Angele carnival. The population of !( Angeles, according to the crnu. I over 100,000, but the street mut have hHd nlnxnrt twliv that number today. Tht irmlilrnt rdi- at the htad of the l)ani l(. In an xfi i-arrkiire drawn ty x oiilrltrd mHk'Whlitt horn.-n with vl low Rutin hirrx-iw. At ih heiul'of -ai-h horw wulkd a H.nlh (-abullero, Th rarrliiK" wun a niaott of white rarnn tlona and yellow 'cirtlx blowuimK. A troop of cavalry with yHlmv homo-hair tiut)i'n wavltiir alnive th4r hemldn and wrcfith of rtiwre arrow thlr hould iTi and blank! nlfi of carnation be hind their eaddb-a headed' by a land uluvlntr fireeedi-d the carriuice of th chli-f majrltitrate to the reviewing itUnd. ICach ludv rarrliiJ a jg of roue li'tvi for uni' im confetti en.l aft-r na lutlnv (ho jtTtnld'-nt rthe threw a handful of e-ift i'late Into hl box. Before the Hintdi wan over Iw waa ankle d"i In roe lrftVH. Connidcrablt. excitement wan cauxod by (In- ilU'ovcry ttfter the BPklng thai a iYktncki't had relieved Ptre- try W 1 1 not) mid Tohinel fha. A. Moore of ihi-lr ixx kelbook. Iter the thief wim nrreetiM. S-vTal j,kpt lnHikit were found on hi ierin nn I a Kold miKK't whirl) M'M-re'n on hil obinliid m the CoiiKrem mine in Arl aona. and HevrHary WIMonH po, ket bk. which contained J175. The thief proved ti be u well-knojwn pIckiKK-ket. The pn-Mldent made a trip to the na tional nnlillrrV home near Sinta Mon ica. One of the moHt notable Incident of the day wan the visit paid by President M.KIniey to Mr. Jeeele Kenton Fre mont, the ajtiil widow of Oeneril John . Fremont. The president and the members of hi partv retired In their train tonight anil will leave at 6 o'olm-k tomorrow morning for IVI Monte, where they will txnd Sunday. SHAM H a'K'S SAILS WRECKED. Cup ChillengT Compelled t, Return to Southnmirton for Repairs. SOITHAMPTOX. May 9-ate two Shamrock atartM at midday today In a race from Hythe to Wej-mouth. a dis tance of M mile. Off the Needles the yacht were caught In a fierce squall. Shamrock II. lout her gaff and gaff toMfill vard. Sir Thomas Upton had a narrow escape from being hurt by a Tailing block. The sails of the yacht were wrecked and she returned to Southampton for repairs. QUARANTINE AGAINST ALASKA. Smnllnox Spreading Rapidly and All Vessels Arriving From North Must Be IiuipecteJ. PORT TOWNSEND. May 9.-V. S. Quarantine Officer Dr. Foster today of ficially declared a quarantine against all Alaskan porta and all vewseh arriv ing from the north must coll here for Inspection. Official report from var- loui sections of Alaska are4to the effrcu that smallpox exist and rapidly spreading. ENGLISH PERPLEXED. Have Kept Out of the American Mar- ket During Tresent Excitement. NEW YORK. May 9. According to the Tmdon correspondent of the Trib une, the American revel In speculation with details of vast fortunes made in the course of a few weeks, continue ...CORSETS... The celebrated R. & G. and THOMP- In colored, black and white, with long ted to stout ladl?s, large ladles, slim es at right prlc. s HANAHAN to fam-lnat and to peridex KnicllHh men. Th holdlnjf of KntfHid. nve. torn In the properties which have been m iik In k a nietwirle pawHKe acron the wetrn ky were d!aj"i,4 of long ago. There him been little apeculatlon In fmdon lu-curltle and th market ouo t itlori have rlen automatically In re tone to Wall-atreet price, KnKHh peculut'ir have kept out nt the Amer ican markt be( aue they did not un dertnnd what wa irolna; on and had no faith that the rlt In value would be permanent. They have not made anything out of the American market and every other nurket haa been nant alnee the opening of the Boer war. If American ptN-Hjwrlty be an Inex plicable marvel to KnglUihnvn, J. Iler nont Mot (fan I the Inscrutable myntery. Ill name ! eonnjted d'tlly with one tupcndou operation after another un til the Brltlh public la prepared to accept any half-penny fiction about him. C. O. SEYMOUH DEAD. Well-Known Chicago Newspaper M lately Connected "With Chronicle. Man '.'IirCAfJO, May D.-'harle, C. p.y. tnour, a well-known C'hluago nwspa P'r man. died nhoctly IWore midnight lant nlifht at Kl I'aeo, Tex., of conump tlon. The remain will be brought here fur burial. Mr. Seymour began hi newspaper career on the old Chicago Timea about twenty year ago. Afterward he wa connected with the Chicago Herald ae new writer and night editor. When th Chicago Chronicle wa establihej he Joined the editorial ntaff of that paper. HI brother. Horatio Seymour, in pub llnher of the Chronicle. MCTINV ON STEAM KR. Xine Firemen and Coal Trimmers "fumed Over to Kingston Police. KI.VOSTOX. Jamaica. May 9.-The British steamer Louisiana. Captain Ed wards, from Liverpool, April 18. via Colon, has Just arrived here. Captain Edward turned over nine of his fire men and coal trimmer to the custody of the KlnKton police for refusing to work while at sea. TROUBLE WITH ITALY. Aneault Upon Italian Laborers in Kan sas Will Be Made International Affair. KANSAS CITY. Miy 9. -Jerome Fi dell. the Italian consul In Kansas City. Ih quoted as saying today that the la bor trouble In lola, Kas.. that resulted last night in several Italfans belnir driven from the cement works of that town after having been assaulted by American workmen, will be made an In tornatlonal affair. WHITMAN COLLEGE LOST. Remarkable Record Made by Univer sity of Idaho Athlete. WALLA WALLA. May 9. Whitman College lost to the University of Idaho In the track meet here this afternoon by a score of 68 to 60. H. C. Tilley, captain of the Idaho team, was the hero of the occasion, securing 30 of the 60 point awarded to Moscow. ACCUSED OF PERJURY. Seven Counts Filed Against Alleged Kidnapper Callahan. OMAHA, Neb.. May 9. Seven counts charging James Callahan, alleged to be one of the kidoappera of young Cudahy. w 1th perjury on his rate trial were filed this afternoon. LAWRENCE MALLOY DEAD. PORTLAND, May 9. Lawrence Mul loy, superintendent of the Union Pa- clflj and also the Oregon Short Line for several years, died here today. KING'S ALLOWANCE GRANTED. LONDON, May 9. The house of commons today passed the civil list granting an allowance of 470,000 as the king's allowance. PASSENGERS FOR NOME. SEATTLE. May 9. Three vessels left this oort for Nome today carrying an aggregate of eighty passengers. PRICE OF SILVER. NEW YORK. May 9 Silver, 59. SON'S Glove Fitting. Complete lines fronts, short fronts, straight fronts; sul ladles, tall ladies, short ladles and miss DAY OF PANIC IN WALL STREET Shrinkage of $69888,407 in Prices of Stocks. MANY SPECULATORS RUINED Northers Pacific Reached Eiormoni Flfirei bat Shorn Will Be RcIciko oa Fair Dull 8rllagtoai Deal It Accomplished. NEW-YORK, .Miy . The night closed upon an eventful, trying dav without a definite settlement as to the Northern Pacific, deal, the central figure In the fler.-e struggle. Ii was antlci nated that there would be an agreement for settlement with the shorts but it was evUently not Anally concluded. Shortly after the market closed It wa seml-offldally announced that the basis of settlement had been practically agreed upon and that It would be clinched before nightfall. At S O'clock however, Kuhn, Loeb & Company. whom the street accept as masters of the situation, announced that nothing could or would be said a to the stock todav. In addition to the arrangement with the shorts It I believed that the set tlemertt of the fight will also Involve the foture relations of the Union Pacific Northern Pacific, Great Northern and Burlington. Men close to the Harri man-Kuhn. Loeb A Company group In slsted that the deal for the sale of the Burlington to the Great Northern would be carried through. Granting that Harrlman, Kuhn, Loeb & Co. and their associates are dominant In North em Pacific, It Is assumed that they will claim and win a voice in the fu ture at the Burlington. It Is Wleved that the settlement with the shorts In Northern Pacific will be made a.t 100 or under. The following statement from a member of the Har rlman syndicate Is significant: "The Northern Pacific Is In control of Kuhn, Loeb & Co. The only thing that can affect this control will be the pos slble inability of certain people to deliver stock to them. J. P. Morgan & Co. are In the same position." SHORTS LET OUT EASILY. NEW YORK. May 9. Tonight an In dividual who has been a party to a con ference relating to the strained condl tlon In Wall street made statements snd exntanatlons which give to the con test In Wall street a different construc tion than was generally accepted down town today. He said: "Tomorrow morning. Kuhn. Loeb & Co. will publish a notice saying they will let out their Northern Pacific to the shorts at 1150. The positive state ment la made tonight that tomorrow J. P. Morgan & Co. will notify the 6horts that they will be released on short ligations to Morgan & Co. on a basis of $150. The shorts will get no stock from Morgan & Co. They will get only freedom. "The Burlington deal will be known tomorrow as an accomplished fact. It has already been accomplished. The Morgan-Hill interests control the North ern Pacific stock and the board of dl rectors has absolute power to close the Northern Pacific-Burlington merger without the consent of two-thirds of the Northern Pacific efock. The old laws of the Northern Pacific prescribed that two-thirds of the stock should as sent to such a transaction as the pres ent deal. This provision, still printed In the manual and accepted as authen tie. has misled the opponent of rae Morgan-Hill plans because in reorgani zation the two-thirds provision was abolished and the power was vested solely In the board of directors. The board had stipulated that when of the Burlington stock had been deposited In the designated trust company, the Northern Paclflc-Burltngton deal should thus be automatically closed. The stock has been deposited and the transaction has been consummated." ENORMOUS SHRINKAGE. NEW YORK. May 9. A statistical review of the transactions In the stock market today shows that at the low water mark of prices forty-one princl oal stocks had shrunk the tremendous figure of 969S.3SS.407. This shrinkage, however, is largely offset by the recov ery of the market toward the close. PANIC IN WALL STREET. NEW YORK, May 9. Bitter disiress developed In Wall street by the sec ond hour of trading on the stock ex change today. The violence of the commotion had spent much of Its force, at least for the time being, when the chairman's gavel fell announcing the close of the day's proceedings. The casualties were great and the field of battle was strewn with wounded and mavbe with dying. But of actual fa talities none were recorded of import ance during the day. During the height of the panic rumors of Insolvencies were handed about more quickly than they could b re ported. In more than one case the an swer to these rumors wa for the rep reentatlve of the house to go. upon the stock exchange and place loan to a large amount, as Indicating an abun dance of resource at hand. But. notwithstanding these and sim ilar devices for keeping up credit and confidence, the fact wa too obviou of a crawh of values on exchange, that credits and borrowing power were shrinking at too prodigious a rate to not leave the mind of the whole financial world 1n a condition of Intense strain. But the Indication at the close of the day were strong that the principal dam age had been wrought upon the specu lative class or upon holders of securi ties on a margin, for whitever purpose. In the -late dealings the principal banks In the field agreed to form a pool and raise a fund to loan money at a rate down to six per cent on the stock exchange. The bid fot money hid been run up to 60 per cent and was threat ening to keep alive the panic. A dozen banks came to an agreement to raise 116.000,000 with Implied wljllngnesS' to Increase the sum If necessary. Tl.ere were very heavy loans placed also bv individual banks, ranging In some cases to $25,000,000 and $30,000,900. . Through the early part of the day the bankers exacted the market rate for loans. But with the growing need to siinnres the oinlc they offered a rate down to six per cent. The outside could not obtain the lim its of the actual occurrences on the exchange, in the brokers' offices many men sat who were reduced to absolute ruin as the result of fifteen minutes' proceedings on the stock exchange. Some of these have been made opulent within a few weeks past as the result of the unparalleled rise in prices. With the true gambling spirit they have replaced all their winnings on new ventures on each turn. Today's work, therefore, wiped them all out. But the glittering attraction of this market has brought into it a constant ly Increasing assortment of more stal l and inexperienced speculators; men and women who have brought longstanding hoards from secret places and from sav ings bank deposits with the determina tion to make one successful stroke and to retire with the proceeds. Demon strations from this class, which In cluded many women speculators, fur nished hysterical scenes and the sen sations of the day. There was a strong feeling this morn ing before the proceedings had com menced on the stock exchange that a pmlc could be averted only by the strongest measures and with great diffi culty. The fact was apparent that the corner In Northern Pacific was still un broken. The first quotation for Northern Pacific ran quickly up to $200 per share and then to $200, to $300 and then to $700 per shire on regular transactions and $1009 per share for cash. The cash price paid meant that the unfortunate shorts who were unable to borrow stock last night for delivery today had to pay whatever cash price the engineers of the corner chose to ask for It. The fig ures Indicated In these transactions meant ruin for a very large outstand ing Interest In the stock. As prices began to go down the dis position to buy decreased and the de termination to sell seemed to grow in geometrical ratio. Such a shoveling out of stocks as occurred during the second hour of today's stock market was nev er seen before. Figures alone suffice to Indicate the Proportions of the drop, In Delaware and Hudson the extreme decline was 59 points; Manhattan, 38 Rock Island. 35H; Union Pacific. 38: Atchison. 31H; St. Paul, 30H; Missouri Pacific. 32; Southern Pacific, 29; U. S. Steel irfd., 26. While a range of five to thrrty points would cover the collapse in nearly every active stodc In the exchange, in the outside market the stress of the demand for funds was shown by the drop In the price of Standard Oil of 171 points over night After the turn in the market came, which It did about noon, some notice able selling of bonds still continued and this was explained as being due to the wish to secure funds to buy stocks at the attractive level of prices to which the market had fallen. It was a very noticeable fact that throughout the most acute period of to day's disturbance there was nothing heard to indicate a doubt of the sound and prosperous conditions of Industry and business at large In the country. The stock market collapse was attribut ed exclusively to overspeculatlon and over extension of credit upon stock which It was not designed to keep but to sell at higher prices. The stock which caused the collapse was the Northern Pacific corner, without dispute. The announcement later In the day of measures for the relief of the shorts and the relapse In the price of stock to 300 allayed the demoralization almost Immediately. Announcements by J. P. Morgan & Company and Kuhn, Loeb & Company, who respectively represent the two contesting parties In North ern 'Pacific, that they would not require deliveries of stock today meant a res- spite of one day at least from ruin for the shorts in the stock. Later In the day Street and Norton announced that they also would not require deliveries of stock. This firm has been credited with acting for James Keene and (Continued on Fourth Page.) FRENCH KILLED BY CHINESE BRIGANDS Two Garrisons Attacked With Losses on Both Sides. CHINA WILL BORROW MONEY Loaa Will Probably B Placet- la Each Caaa. try Ea I vales! to Aaioaal of la easily Demaidco by That Ceaatry. . PARIS. May 9. An official dispatch from Pekln announces that a band of Chinese brigands recently attacked tha French post In KingIin (Lin An) and drov? out the garrison, killing five and wounding seven men. A few days later the brigands attacked the French post at Sorgiang but were driven off, leav ing thirty-three killed. The band final ly was driven bock Into Kwang si with heavy loss. Ten Frenchmen were wounded.' INDEMNITY CLAIM PRJESENTED. PEKIN, May An indemnity claim of 450,000,000 taels will be presented to the Chinee plenipotentiaries this even ing. LOAN MAY BE PLACED HERE. NEW YORK, May 1-A epedal to the Herald from Washington says: American capitalists may be asked by the Chinese government to subscribe to the loan It will have to negotiate to pay the Indemnity to be exacted by the powers. Wu Ting Fang, the Chinese minis ter, and New York financiers have been In communication on this subject. The communications are entirely unoffi cial and have therefore been kept very quiet Nevertheless It has developed that the Idea has been favorably re ceived In New York. It la of course im possible to say what the outcome wtli be, as International politic will have an Important Influence upon the placVif of the loan, but Intelligent Chinamen favor obtaining subscriptions from the United States. , . The Chinese government Is well aware that provided the "open door" be con ceded the United States at thla moment would not go beyond a formal proteat in case of the division of China The situation would be changed, however. If Chinese bonds valued at millions of dollars were held by American capital ists. All that the Chinese minister has done has been to make Inquiries and American financiers have given an in dication of whit they are willing to do. The loan will be very large Special Commissioner Rockhill has cabled to the state department that the ministers had agreed upon $337,000,000, but he is still trying to secure a reduction of this amount but the lower It la the easier 1t will be for China and the bet ter the terms upon which she can ne gotiate It. Foreign representatives In Pekln will undoubtedly bring strong pressure to bear in behalf of the placing of the loan In their respective countries. Mr, Rockhill is not expected, however, to Join In such a movement. If within the range of possibility, China, in order to satisfy all the powers, may decide to place In each country a loan equal to the indemnity due that particular na tion. In this event the share of the United States will probably be less than $20,000,000 and perhaps only $12,500,000. In case Its proposal for each power to red nee its Indemnity demand should be adopted. DIRECTORS DENOUNCED. Managers of American Sabbath Union Discuss Sunday Opening; of Exposition. v - NEW YORK, May 9. At the meeting of the board of managers of the Amer ican Sabbath Union the opening of the Pan-American exposition at Buffalo on Sunday was discussed and resolutions were adopted denouncing the directors for disregarding the petition of "2,000, 000 individuals, representing a consti tuency of 22,000,000 of ecclesiastical, civic, humanitarian and labor organizations." by deciding to throw open the gates of the exhibition on Sunday. The resolutions stamp the directors' action as an affront to the religious conyictlons of a majority of the people of the Empire State. Ministers of the gospel throughout the country are ask ed In the resolutions to preach upon the subject before the formal opening of the exposition on May 20. WHEAT MARKET. PORTLAND, May 9. Wheat, Walla Walla, 6960. SAN FRANCISCO, May 9-Wheat, December, 105K; cash, 100. CHICAGO, May 9. Wheat. July. opening. 71Ti72; closing, 71K71. LIVERPOOL, May 9.-Wheat, July, 5s. 10T44.