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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (Dec. 30, 1903)
Wednesday, December p, 190$ THE SUMPTER MINER HARD TIMES YARN TRICK OF TRADE. The Wall stroet correspondent of tlie Spokesman-Review, who baa fre quently furnished that paper with important iusldo uows that the Asso elated press failed to secure, under recent date gives the following inter esting statement of the present fluau cial situatien: Until within a few days manipula tion of the money market by the big banks, lu order to keep up iutcrost rates, has beou very apparout. Their aim in keeping the quotations for call money as high as possible was to enable them to put out time loans threo to six mouths at attractive figures. All signs point to easlei monetary conditions early in Janu ary and the banks may have dlfll culty lu maklug time loans at llvo per cent. Some aro predicting 4 la and evou four per cout mouoy for three to bIx months periods, because of the expected plethora of funds at this conter. Thoy reason that idle balances will ptlo up at many inter ior cities aud rather thau lot them remain unemployed they will be sent to Now York. This is presumiug on quiet business conditous. Tho maintonanco of an artificial lovel of iuterest rates alfeoted any whore from 8150,000,000 to 8200, 000,000 in loans aud tho manipula tion of rates moant a gain of maybe 91, 500,000 to 82,000,000 in tho profits of the banks over what thoy would bavo beou If freo competition provallod'and each institution aotod independently. This' Is assuming that the banks received, only 1 per cent more for their money. It was asked bow it was posslblo for tho banks to reach auyuuderstanding'on such a matter as this. In reply,, it nay be said that tbo'Ruckefeller aud Morgan interests control tho largest institutions and ninny others aro willing to follow tboir lead, par ticularly when their common advant age points the samo way. Tho suggestion in ado abovo that no one can claim that the end justi fied the means, all thoughtful meu know that no real good would bavo been accomplished had the bill be come a law. Tho deslro to gamble is an almost universal human attributo, universal as to recorded time, as well as to I geograpuicai ana uhiiuiihi scope. The lowest savago to tho most cul tured race in all ages bavo indulged in the amusement in Its limitless phases. As no ono can deuy tho ac curacy of this statement, it does seem o bo an unwise policy to legis late presumably good citizens into criminals. So well established is the fact that mou will gamble, that the older na tions of earth, taught by experience of the ages, mako no effort to pro hlbit tho vice, if such it can bo called. Only crack-brained reform ers who think there is somo magio power lb the words "be It enacted;' that a legislative onactmeut is n pauacca for all moral ills, all human weakuessos, bollove that any good re sults from this class of laws. Pro found statesmen hold tho opinion that legislation can only restrict aud rcgulato the ovll; placo tho profes sional crooks lu tho business under police surveillance. That injuries havo resulted from gambling, to individuals, families and, in somo instauces, to commu nities, no ono will deny, lint tho same can bo said of drinking, eating, tho lore of mouoy aud women aud most other things which meu think desirable. It all d upends on tho individual, aud tho state can render littlo or po aid. Viowod purely from an ethical standpoint, it is Impossible to draw tho dividing lino between what ia generally considered legitimate spec ulation, or even trade, aud what is usually accepted as Illegitimate gambling, Horbort Spencer urged tho moral objeotioon to tho practlco that it is a violation of the Golden Rulo, "tho obtalument of pleasure at tbo cost of another'! pain;" in other words, that it Is a pleasure to win aud pain to loso. Hut all losers aro uot "sore losors. " Ilowovor, this Ih not a dofenso of gambling, merely that tho expression of an opinion eorao persons aro expecting a plethora UW8 aimed at its total suppression of unemployed money becauso of allro useless, unwise. Hosldes, tho partial lull lu business, is somewhat. areut philosopher himself never ad- contradictory of tho facts. Thoro has been a material re-awakoniug lu many leading industries, which car ries tbo couviotion that tbo leading financial interests expect iucreased activity lu Iron, steel, coal and var Ions manufacturing lines, and which accordingly will ca!! for the use of more mouey than at present. Rut it is pointed nut that the enormous profits from the season's crops will furuish vastly more thau tbeso in dustries will require aud the owners of this added wealth will havo it on i their bands for Investment. So we' may got a plethora of money after all. If we do, it Is asserted it will merely be proof of the rapid growth of this countryln wealth and tbo availability of abundant money at all times for prime investments. The question of investments ia now uppermost in the minds of peolpe, in view of the heavy dividend and interest payments which will be made on January 1. Those to be made at New York are estimated at fully 10,000,000 more than a year ago. vocated the eiifurccmont of thoUoldeu Rulo by tho power of tbo state. There Is scarcely a doubt but what the anti-gambling bill, which passed the house at the recent special ses sion of the legislature in this state, failed to reach the senate through someciooked work. And yet, while OFFICIAL RECORDS. Tho following instruments were filed at the Ilakur county court bouse during the week ending Dec. 22, UK)'.'. REAL ESTATE TRANSFERS, oigna. Dec. 28 Clarence Richardson, to Tbos. Whitod, one half interest In lots 6, 7, 8, and 0 block 43, Pacific ado to Raker City; 9250. Jan. 27, '00 U. S. A. to Chaa. A. Tibbs, pateut to S. W. Sec. 35 Tp. 9 R. 37 E. Nor. 2 Chas. A. Tibbs to A. J. Denney, same as last. ; 8228. Dee. 22 Ada Vandecar to Lintiol J. Chute, 100 acres in Sees. 20 and 26 T. 0 S. R. 30 E. ; 1800. Dec. 23 John Rouse ot al to L. J. Chute, lots 7 to 10 U. 1, 0 to 12, B. 2, Pacific adn; 8000. Jan. 24 Receiver to Harry A. Thatcher, receipt in full for 100 acres in Seo. 22 T. 7 S. R. 43 E. ; 8400. July 27 D. Nault et al to Brid get Urenier, their interest in NW M of Seo. 12 T. 10 R. 40 E. ; 81. April 20 Win. Raker audjwlfe to W. R. Hawley, 100 acres lu Sec. 11 Tp. 10 R. 3 E.; 82,000. Dec. 22 Amanda lludsou aud husband to J. A. Johnson, lot 5, U 0., South Sumpter; 9200. Feb. 5 W. S. Daughorty and wlfo to J. S. Culbortsou, lots 11 aud 12, II. E Haines; 9800. . Oct. 311). C. Perkins ct al to Flavins Perkins, Interest in N. E. Kj of S. W. L4 Sec. 25 T. 8 R. 30 E.; 81. MINING MATTERS. DKKDS. Dec. 7 Anthony Mnhr to Rultalo G. M. Co., tho "Reward No. 2" quartz claim; 81. Dec. 12 J. W. Kocbensparger aud wife to ,1. J. Joseph et al, 1-5 iuterest iu Rig Fivo (Wolf) quartz claim; 91. Sept. 10 U. S. A. to Arthur Hill, patent to "Ibex Con. quartz claim," lot 421, 0 claims; payment. Dee. 4 Roud for deed: W. D. Woodford ot ux to J. W. Koont7. to 1-3 interest iu Vault, Secret, .one and Rubberneck quartz claims ono year; 8700. July ! Win. Raker-ot al, to W. R. Hawley and A. II. Weaver, Do vore aud 2 other placer claims; 92,750. Dec. 140. C. Stern to M. Hoff, H intercut iu Golden Chest quartz claim; 900. A DIRECT LINE To Chicago and all points east; Loulsvlllo, Momphls, Now Orleans, and all point? couth. See that your tlckot reads via the Illinois Central R. R. Thoroughly modem traiua connect with all transcontinental Hues at St. Paul and Omaha. ' If your friends are coming west let us know and no will quote thorn direct the specially low rates now iu elfcot from all eastern points. Any Information as to rates, routes, etc., cheerfully given on application. R. II. TRUMRULL, Commetcial Agent, 142 Third street, Portland, Ore. J. C. L1NDSEY, T. F. and P. A., 142 Third street, Portland, Ore., P. II. THOMPSON, F. aud P. A., Room 1, Coleman Rldg., Seattle Wash. Timber and Homestead Fillngi. Timber and homestead tilings, as well as final proofs, i-an lie made lieforo Charles II. Chance, United Status Com missioner, oflU-e in First National Han of Sumpter building, Sumpter, thus sav ing applicants expense of a trip to a Grande. FOR SALE. I' Ono M nudity 12x10 hoist engine with Link motion, horizontal boiler, good condition. Engine has two drums. Cheap. Write or telegraph A. J. McCabe, Tacoma. Wash. FOR RENT New four room oil Itnlshcd house. Enquire of C. II. McCollocli. How to Get Interest If you wish to deposit money for a specified time ami get iuterest, bring it to tins bank mi take one of our Time Certificates BANK OF SUMPTER SUMPTER, OREGON A. I'. (iOSS. I'rulJtnt an4 Ovhlrr SU'NHY S. I'OsitK. Aitl. Chler- His First Complaint "The writer regrets the necessity of lodging complaint concerniug vom usual excellent service, but in a friendly spirit begs to submit the follewing: Yesterday you sold me lower nine, car three, on The Pioneer Limited. But you neglected to advise me that it would be necessary to have the porter waken me in the morning, and as there was so little motiou to the car, I overslept. I have covered a large area on some of the famous trains of the United States and this is the first complaint of this character I have made. I trust you will see to it in the future that passengers are advised." The Pioneer Limited runs daily from St. Paul to Chicago via the Chicago, Milwaukee 8c St. Paul Railway 2;s.r?,At I34ThirdSt., Portland, Ore.