DAILT OATITAIi JOURNAL BAJJSM, ORR20N. FRIDAY, AUGUST 10, 1007"
fwm
m
ABOUT
WALL
STREET
Stock Gamblers Feci Pessimistic Be
? cuse "Lambs Wool" Is Scarce
Now York August 10, 1007. Tho
Standard Oil decision and tho popu
lar outcry against corporation mis
deed overshadowed all other Issues
in tho stock market this week.
Prices havo undwgono a sharp re
action and thTO aro Indications that
'liquidation Id still incomplete In
.tho public mind tho decline In secur
.itics is Inrgoly 'attributed to tho
recent rttacks upon corporations.
Undoubtedly those havo had a dis
turbing offect, but thoy aro by no
meano tho only or oven tho chief
causo. As 1ms been porslstontly
pointed out, 'io main reason for rw
nctlon in tho Stock Exchnngo Is tho
exceedingly unBatlsfactory condition
of tho money market resulting from
gonoral ovordolng. Bank roaorvea
nro low and without liquidatien: thoro
will bo no clianco for roplonlshmont
beforo crop-moving demands begin.
Thooo havo boon dolayod somowhat
by bnckwnrdncse of tho growing soa
con, but tliqy miiBt soon bo faced.
It Is unfortunato that thono demands
promise to assort thomsclvcs nt a
timo whon financial rosorves aro low
and when tho demands of goncrnl
business will bo vory prosslng. It Is
doubly unfortunato that such do
innndit should como at a tlmo of un
usual strain in tho i:octirlty mnrkoU;
for tho latter aro In an exceedingly
ftonslttvo condition and llkoly to bo
tho first to yiold to monotnry prcs
suro. If nil accounts nro true, thoro
Jo likely to bo li brisk demand for
fundu this fall. 'General business in
tho West Is ntlll vory actlvo and with
prices at tholr prvwont high lovol tho
ofllcloncy of money Is matorinlly
diminished. Hollof must como from
Homowhoro, and will bo obtained
moat readily by prcBsuro on tho
point of greutcnt" wenknves, which at
prcwont Is In Wall Stroot. Crodlta
nro still ovor-oxtonded and In somo
quarters thoro has boen moro or less
over-trading. Our supply of capital
1 4 oxhnunted, and In consoquonco
now ontorprlooA imiut bo postponed
until tho country has had an oppor
tunity of roplrnlflhlng Its supply of
capital. Tho reoorvon of tho Now
York banks a wook ago Btood at
17,000,000, against $H,000,000 Inst
year, $U'.000,000 tho year boforo
and $50,000,000 In 1904. Tho
Western bank rouorves aro also low
or than usual, but this Is partly ex
plained by tho fact .that thoy aro
largo hohloro of commercial papor
which will ohortly mature and pro
vide thorn with means for moving
tho eroptf. Nbvortholoes, tho burden
of tho latter Is nlao roll directly or
I ml I root ly at thl contor. How Now
York 13 going to stand any particular
drain from tho Intorlor romalna to
bo oon. Tho situation abroad 1b
not favornblo to our obtaining any
groat tiKHlHtnnco thoro. Tho Kuro
pean mnrkota hnvo Btrr.lns and
troubles of tholr own, besides which
thoy nro loan -disponed thnn formurly
to glvo ub ilnnnclnl aid, owing In
part to rccont dovolopmonts in cor
poration nrfnlni, Tho treasury Ib In
n good position for affording asslst
nnco and consldoroblo holp may bo
oxpectcd from this quarter.
Outsldo of Wall Bfcreot conditions
nro generally atlfnctory. It now
lookH art If wo should havo a good
corn crop, probably tho third In
else lu our history, If woathor con
ditions continue favornblo. Thla
Important crop has mado vory rapid
recovery ilurlua tho past two months
nud now give fair promise of an
nbundant yield, provided It osonpo
early frot. Tho condition of spring
wheat Is poor, but tho winter wheat
harvest has turnud out battor than
expected, and oomo rollabb oroi au
thorities aro looking for a lold pos
llily as high as 060.000.000 luuhols.
For corn thi outlook la 2,000,000.
000. Throughout tho West business
continues on an actlvo scale. Thoro
has boon no rociitulon of conso
quonco lu enloa of goods going Into
consumption. Tho masses aro pros
porous and ponding frooly. Our
jrarmlui; clnst.oa aro rlohor than over
In tholr history and better ublo than
ever to withstand any agricultural
wetback. Fort u nut oly, thoro is no
prospect of tho lattor at this writing,
Tho only sign of rocoo3lon in any
airoctlon Is that inferred to above,
tho Dtoppngo of now business enter
prise lmpouod by tlo limitations of
tho money market, Banker In all
prU of tho country nro becoming
exceedingly cotworvatlvo nud aro ef
fectively applying tho brako oa
4uctloaablo operations. In no part
Women as Well as Men Arc Mads
Miserable by Kidney and
Bladder Trouble.
;! vSjJ
v
u ) m
Kidney trouble preys upon the mind,
dlscourngcsaudlcsscnsnmbitiou; beauty,
X mm m d ! Mitt A vf 1 -
ncss Boon disappear
when the kidneys nre
out of order or dis
eased. Kidne-trouble has
become bo prevalent
that It is not uncom
mon for n child to be
born afflicted with
M,inlr ltirltipvs. If lite
child urinates too oucn, u uie urwc scams
the flesh, or if, when the child reaches an
age when it should be able to control tho
passage, it is yet afflicted with bed-wet-.ting,
depend upon it, the cause of thediffl.
culty is kidney trouble, nnd the first
step should be towards the treatment of
these importantorgans. This unpleasant
trouble Ib due to a diseased condition of
the kidneys and bladder and not to a
habit as most people suppose.
Women as well as men are made miser
able with kidney and bladder trouble,
and both need the same great remedy.
m'u te cltcci oi
It is sold
4....M
Home of Swamp-Hoot.
'rim ttillrt nml tlm illllllCi
Swamp-Root is soon realized
by druggists, in Iilty
cciit and one-dollar
size bottles. You may
have n sample bottle
Vi. ,,m!1 fre nlno a
pamphlet telling all about Swamp-Root,
including many of the thousands of testi
monial letters resolved from sufferers
cured. In writing Dr. Kilmer & Co.,
Uinghamton, N. Y be sure and mention
this paper. Don't make any mistake,
but remember the name, Swamp-Root,
rV vMmnrNi Swniiin-Root. and the ad-
dress, Blnghamton, N. Y., on every
txmic.
NEEDS
LARGER,
of tho country can any pessimism bo
discovered corresponding to that
which oxlflts on Manhattan Island
south of Fulton stroot. That seems
to bo tho bluest spot on earth Just
now. Many of our great corporation
leadors aro much dlBturbed and dis
pleased at tho rocont activity of
uovurnmont nud stato ofllclals. For
this thoy can hardly bo blamed,
nlnco not a fow atato attacks nro In
dlBcrlmlnnt'j nnd Ill-judged. Novor
tholess nn em of roform In corpora
tion management has already begun,
tho offect of which will ultlmntoly bo
beneficial to stockholders and will
do much towards removing tho
political and social discontent which
bail been irlslng In a threatening do-
greo for sovornl years past. Thoro
lu tho boat of roaaon for stating that
tho fcdonal government has no
"trust smashing" policy In vlow.
IMinnn linn linM, milnll fVf1Ilninflnn
ft ..vi j ...hi .fww. .....w. .n.nov" . -.
as to t.ho Intentions of tho govern
ment In -thlH irospoct, nnd nil that Is
llkoly to bo enforced so far oa can
bo uRcortalnod Is a qulot but firm
policy of compelling tho groat cor
porations to oboy tho law equally
with tho humblost cltlrons. Of
courso, thoro Is moro or leas public
hyuborla connected with thoso movo
montu, but this In tlmo will disap
pear, and tho irosults of past agita
tion will unquestionably leavo ua
with pormnnontly hlghor standanls
of corporato management and
responsibility.
Tho outlook for tho stock mnrkct
Is hardly promising. Wo can only
continue our advlco to our customers
to bo cautious In go'tlng Into debt.
Stocks oven at thoso prlcoj cannot bo
regarded nu cheap so long as money
commando JUs presont rates, with
tho propecta of going still hlghor.
Thoro Is no real euro for tho prooont
congestion In tho security mnrkots,
except liquidation, which lo a pain
ful but necessary romody. A con
siderable short Intor-'-t has boon de
veloped, tho covorlng of which may
at nuy tlmo caiiBO sharp rallies. No
permanent rlo In tho market, how-
ovor, can ba oxpocted until money
ratt return to tho normal. Thla
cannot bo accomplished until securi
ties havo touohod a lowor lovol. Tho
prospoctfl, thoroforo, aro for an Ir
roular market; occasional rallb-s
bolng followotl by tilt furthor dips
downward. Much caution will bo
uocosanry In stock market operations
for tho next fow months.
Heury Clows.
i o
Tho old Pennsylvania Dutch bun
kard recommends "Hickory Dark
CoUKh Romody." Quarantood to euro
your cough, and guaranteed to bo
pure. Mndo from tho bark of tho
shell bark or whlto hickory treo.
For salo by denlors o vory whore.
Dwp-Ijild Siiwnio.
"Stirudo, tho real ostato man, la
booming a now suburban town that's
to bo known as "Jonosburat."
"Woll, ho certainly couldn't havo
Bolooted a more commonplaco name."
"Yo, but ho figures that every
Jryioa In tho city will want to bo
known as Mr. Jones of Jones
burst.' " Philadelphia Press.
" O ..ii.
Tlw Toxhs Wondw,
Cures all kidney, bladdor and
rhoumatlo troubled; sold by all drug
gist, or two months' trial treatment
by mall for 11,00. Dr. B. W. Hall,
29J Ollvo street, St. Louis, Mo
86a4 for totliDoalale. Sold by SKoa'
Mvt Mki.
FLEET
Great Goast Line and Rapid Growth
of the West Gompcl It
From Oytor Bay It is announced,
tho following authoritativo state
ment hns been Issued.
"The present plan of the navy
department is to hav the battle
ships leavo on a cruise early In the
fall. They may go on to the Pacific.
The destination has not yet been
determined."
A little while ago tho govern
ment, and tho peop'e were strenuous
ly admonished to pay, no heed to Idle
clamor. Tho little flurry that
aroso when tho reported lntontlon to
Bend 10 battle-ships Into Pnclflo va.
terB was first declared mado it evl
dont that the scarecrow business
was poor and unpopular business In
this country, whether pursued by
newspapers or by politicians. Tho
purposes of tho American people aro
peaceful, and, as it has been demon
strated, their heads aro level enough
to condemn any policy that sacri
fices their welfare to passion or tin-
(y M$rr)
JOHN A. JOHNSON.
Qovornor of Minnesota, who baa
boon twice elected to that offico by
largo majorities, though n Demo
orat and though Minnesota is a
strong Republican state on nation
al isauo8. Editor Honry Wnttorson
of tho Louisvillo Courier-Journnl
la grooming him as n candidate for
tho Democratic presidential nomi
nation in 1008.
worthy aontlmont of any sort. The
Jingo hns had his rebuke, and It was
a tolling one.
Tho rebuke having been admin
istered tho question recurs for settlo
mont. Should wo send n largo di
vision of our battle-ships to tho Pa
cific ports? It Is authoritatively an
nounced that tha destination of tho
proposed fall crulso hns not yet been
dotormlnod. Deciding without ref
oronco to newspaper or political
clamor, Jingo or pnclflBt; without"
reference to passion, Inimical or
timorous, thoro can bo but oue an
swer to tho quostlon. Our perma
nent naval forco In the Pacific must
be largoly Incroasod.
It la a badly balanced schomo of
naval dofonso that has ulnotoen
twontletliB of our.fionttug armament
In tho Atlantic. Thoro, It U truo,
tho bulk of our commerco
llos; but that commerco Is
mainly carried In foreign bot
toms. Tho grontor length of const
lino Is In tho Pacific; In the Pacific Is
tho lnrgor part of our oxposed and
outlying poB90s3ious; in tho Pacific
a mighty commoroe is building.
For tho prosout Ineffective nnd
Irrational distribution of our naval
forces thoro Is no oxcuso except that
most of our boats wore launched
from Atlnutlc shipyards. In seek
ing to approach an equilibrium of
our ships as botwoon the two sens,
wo nood no mor consider the opin
ions of our friends the Japanoso
than of our othor friends, tho Brit
ish, tho French, the Germans and
tho Russians, who have Asiatic naval
Btntlons. They are about equally
far away from our Pacific ports
somo six or seven thousand miles,
Vow York Mall.
Ecseiua,
For tho good of thoso suffering
with ocseina or other such trouble, I
wish to say, my vrlfo had something
of that kind and after UBlng tho doe
tors' remedies for some time eon
eluded to try Ctumfeerlala's Salve,
and It proved to be better tka asy
talc aa had tried. For sale at Dr.
SoV drug store.
Real Happiness
noflo nnf mnfilst of riches but Is for
tbnsc who possess good health. A
sickly man or woman, besides being
miserable, Is bauiy nancucapneu m
tifn'a mpp. but then there's no ex-
cuse for being sickly. Just let
HOSTETTER'S
STOMACH BITTERS
build lip and renew the entire sys
tem, make tho stomach strong and
healthy, and enjoy true happiness.
It will euro Indigestion, Dyspepsia,
Costhcncss, Billlousncss, Dlnrrhocn
or Female Ills.
WORLD'S
WATER
HIGHWAYS
All Nations Are Increasing Natural
Waterways
Washington, August 10. Pro-
Balc commerce is more likely to bring
about world peoco than all the so
called peaco congresses that may bo
held at Tho Hague from now till
Gabriel's trump sounds. This Ib tho
belief of thoso who havo studied
tho question. Their theory is baaed
on Btrnngo grounds, but it Is thor
oughly plnitBlble. It Is simply that
tho expenditures being mado or In
contemplation by tho groat nations
of tho world for tho advancement of
commerco nro growing so onormous
that llttlo or nothing will bo loft
with which to wngo wars.
Much of this expenditure Is found
In tho present world-wldo policy of
wntor way development. The United
States is pouring millions Into tho
Panama Cannl and is contemplat
ing an outlny of more millions In bet
torments to Its rivers nnd harbors at
home. Commerco demands It, nnd
commerco Ib mlstrCBJ that brooks no
refusal. Tho other commercial na
tions also aro busy along tho same
lines, drlvon by tho same necessity,
nnd reports of gigantic undertakings
nro becoming so frequent as to oc
casion but pausing Interest.
Two projects, however we're re
ported this wcok that go to Bhow
how Important this form of work
hns become Ono of these is in
Frnnce, while Germany is about to
undertake, tho other. Both corre
spond in a great measuro with a
number of waterway dovolopment
schemes under consideration In thlB
country, and for which th Ameri
can peoplo, aroused by tho National
Rivers and Harbors Congress, havo
boon clamoring during tho last few
years.
Tho French project contemplatets
tho construction of a canal to con
nect tho vnlley of tho Rhone with tho
nort of Mnrselles. Tho work will
cost 115,200,00, and as tho hills sep
arating tho Rhono from tho city
aro too high to bo surmounted by
locks, tho French government will
tunnel through them. This tunnel,
measured by tho amount of dirt ex
cavated, will bo tho larcest In tho
world. It will bo seven kilometers,
or 4 1-5 miles In length and is ex
pected to cost nearly $7, 000,000.
Tho Gorman work Is oven moro gl
cnntlc. It contemplates a now ship
canal botwoen Hamburg and Bremen
which will be sovonty-flve mllos In
longth. Tho waterway will mean an
Immense saving of !lmo In tho pas
sage of ships between tho two towns.
Tho prosont route for vessels In the
Inter-clty trade Is down the Elbe,
vln Cuxhaven, Into the North Sea,
and thou up tho Woser to Dromon,
or vice vorsn. Not only doos this
lengthy route oat up tlmo, but It
exposos river vossels to tho dangors
of tho opeu sea.
The now waterway will directly
connect tho Kibe with tho Rlvor
Wemme, which flows past Bremon.
Tho rlvor Elbo will bo ono of thft
links used, and it and tho Wummo
will bo deoponod, n canal connecting
tho two b-.lng dug so that It will
pass close to tho towns of Tolstadt
and Molsburg.
This vory project was first dis
cussed seventy years ago. and has
como up for discussion intermit
tently evor since. Each time It was
abandoned because of lack of funds.
Tho government needed tho money
for tho support of Its many estab
lishments, and commerce had to ac
cept tho Snovltable. Now commerce
Is of more Importance .than tho array
and the works of peaco of greater
Interest than preparatioaa for war.
Thus It may seem that commerco
is tho handmaiden of peace. To
carry out the metaphor, the National
Rivera and Harbors Congress Is the
discourager of armed camps through
ST06
FANCY GOODS
AT BIG SALE
i
Having sole on nil Drygoods, Men's Furnishing Qm
have room for Fall Goods,
Ladles' Japanese crepo klmonas selling at cost price.
Tallin' silk wrnnnor. trimmed with Insertion nnri i
: . . ' aw tn
names' lawn wrappers $j n. i
A beautuui line oi nignigowns, unuersKins, cnomlse, ets.
"Wo aro showing the best calicots, ginghams and other dress,
T n 4lnn Innr. rnMrifa am lirnl ii orod Italia nf
liUUUO l.U ,-..., V... W.W.UW.WM w.w M.V. ........... ft.
-...'.. . -S
Beautiful lino of Ladies hanciungs.
Trunks and suit case3, telescopes all going at cost price.
T.ntvn nrwl slllf fnihrnlt1(rprl wn.ltlt.1 from o n
"" T ?i.UUDptjl
Ladles' hose in black lace, pink nnu uiuo
Men's overalls, working shirts, gloves, dross shirts, selling tl
very low prices.
All kinds of notions, back and sldo combs, Chlneso matting
HUJE WING SANG Q
Chinese and Japanese Bazaar
346Cotttt Street Salem,
Its powerful advocacy of waterway
development In this country. At
present it Is seeking to mnko its
work moro effective by increasing its
membership, which is already large.
o
Tho Futuro of Fifth Avenue.
Tho rato of tho driftuptown In
Manhattan Is known by tho petition
of a group of merchants on Fifth Av
enuo for tho wldonlng of thnt Btreot
for ton blocks between Thirty-third
and Forty-third streets.
Of courso these men do not wnat
tho buildings moved bnck or tho
fronts cut off from them, for that
would injuro tholr own property.
But originally tho houdes on Fifth
avenue had llttlo spaces In front of
them, llko thoso that servo for grass
plots In tho rcsldenco streets of
Brooklyn. Tho Knickerbocker Trust
Company, nt Thirty-fourth stroot,
put n handsome pillared portico In
thnt space, which tho courts havo
held must como down at tho decree
of tho city ofllclals. Tho merchants
say that decision holds thnt thoso
courts belong to tho city of Now
York and thnt If tho sidewalks
should bo set bnck Into thoso courts
for this busiest half mile the chango
would relieve tho crush of vehicles
which marks that part of tho street.
There Is at present no domnnd for
widening tho street either nbovo or
bolow tho.30 limits. Tho petitioners
b t forth that long lines of carriages
aro regularly held up above and be
low this district whoso occcupants
nro waiting to enter it.
A few years ago this was among
tho choicest residence sections of New
York. Now it la utterly given over
to business, and the business archi
tecture of tho etroet has recently
ovolved a dignity and beauty conscA
nnnt with tho high values of tho
ground space occupied and with tho
exalted social rank wich has not yet
departed from the neighborhood. If
this widening shall be ordered by
tho aldormon there Is no telling how
long It will be before tho same pro
cess will have to be applied to tho
blocks reaching up to Central Park.
The doom of Manhattan ns a resi
dence borough was sounded by be
glnlng of tunnels under the north
and East rivers. The tlmo when
private residences In that borough,
as distinguished from apartments,
will bo rostrlcted to the northern
ond of tho Island boars an intimate
relation to tho completion
of an adequate transit system east
and west from Manhattan Island
Many of the people who own houses
along Fifth avenue already havo
large and beautiful suburban sum
mer places In Long Island or New
Jersey. For many of these families
of wealth the suburban houses now
serve as the family homes, supple
mented by a free, use of Now York
hotels In tho gay season and by va
rious "lodges" and "cottages" In
more remote regions. When it' be
comes easy to return to Wheatley
Hills region after the opera at night,
such barriers as fashion has Inter
posed to the commercializing of the
residence districts of Manhattan
will bo weakened or withdrawn, and
tho future of Manhattan as a bor
ough of ofilces, hotelB and big apart
ment houses will arrive, Broeklya
HE STILL SUFFER
From tho Accident of the fa
Tragedy of a FJiwndjl
In a llttlo homo In norths
vallls, thoy know the
kiiu iirucniCKur. u IS 1
Btory. A pinched little fw
bod proves It. He Is Un;i
Ho Is so weak from his lord
lng ithat hi remains coi
bed. It will bo wMkiuij
yet boforo ho will recorer,
been In bed since the fa
July. Thnt morning, h
firecrackers. Nobody untj
how it happened. Thofu
house heard him scrc&slx!
ran to tho door and win! 5
was Lcroy running towtrii
clothing ablaze. Ho rui
thorn for help, but sudd
' and ran In an opposite im
was an awful sight.
woro burning Into his
and' bin screams of piiaal
will not bo forgotten.
crackers had ignited the
his back. Had the flams
front, ho would havo bretiM
and died.
When ho was Anally on
and the flames extlnpiliKj
ly all tho skin onblsbieU
Thero was llttlo patches i
thero, and from these tl
Is growing bo that la ua
will restore what the tis
off. But under one ann Owl
jugly spot that Is stubborn to
in Pivon much trouble, ui
t will have to bo cauterii,l
means moro pala and ks
tin niilft maimed nine iW
waa a costly morning's ipj J
llttlo boy. and all Com
'thi with him In &'
Thoro is a tragedy Ib "
cracker, if it only geuw
Corvallls Times.
Can you afford to trifle
- oa In neElW,!l
,. .), fnratnw
you can secure a bottii
T1-..V fniiPh itecu
guaranteed to cure or ncf'
. rt WriCB 2 0k't "vv " .-
bottle. For sale by all do
where.
Always the S
. inm ne ire"
rroicsaui v." - h
'.....,.- .... iritiniDhanw
io,rB. ";,; .iw-w
dear Alma, how it.
anecdotes about our .
'ness; you Bee, I naval Wl"
.umbrella. ,
Mrs. rruic".
you man ii--
you; you left it
fort Wltzblatt.
. ..- ihj, C
..-.En Sat!
"Toe mw" "'- Ktf"
go county, ana
family," w. - I
and publisher oi -- i
Gilbertsvllle, N. -
New Discover.
an Infallible cm. j
colds, making 8- .1
worst of them.
'hnttla in the bouse. J
be the most talJ
VOM the taker. WJ
atore. Price ,
lMJttle free.