8 'Cbe Conservative.
Of this total amount of securities only
] 5.4 per cent is owned by railway cor
porations , the balance being held by in
dividuals.
Of the total capitalization 4 ! ] per cent
paid no returns to holders , either divi
dend or interest.
Of the funded debt over $510,000,000
paid no interest , and more than $2,000-
000,000 additional paid less than i5 per
cent.
Of the capital stock over 70 per cent
paid no dividends. The total amount of
dividends paid , if distributed , would
amount to 1.7 per cent on the whole.
The total interest paid would average
4.7 per cent on total bonded debt.
The total returns in interest and divi
dends distributed over the total capitali
zation would equal 3.5 } per cent.
Of the roads in group 8 over 00 per
cent of the stock and over 25 } per cent of
the funded debt paid no dividends or in
terest. Compared with this the New
England roads ( which have 712 persons
for every mile of road ) paid dividends
on all but 20.6 per cent of stock and in
terest on all but 1.54 per cent of the
funded debt , notwithstanding they have
a larger capitalization per mile of line.
ISOKN , I8oi : Early in May , 18i2 ( , del-
DIKD , 1808. jento nmi tiny , there came
into this animated world of ours the
subject of this brief sketch. Life began
ever so significantly and humbly in a
home of prnirio sod. Thn surroundings
were a wilderness and primitive prnirio.
In the sky by day the blazing sun ,
and by night the silent stars held vigils
over this young life on the frontier
picket of civilization. All along the
west bank of the Missouri river good men
and competent ; women in small cabins
aud little dugouts were dreaming of
better homes which they were to build
out of the products of this soil. In
every busy brain in all these humble
domiciles architecture was constructing
a new and better house. In each head
there was the concept of a cottage yet
to be built under the roof of which
father , mother and children were to
gather in health and contentment.
The herds of buffalo were just disap
pearing in the -western horizon. The
footstep of the Indian was still echoing
among the rustling grasses. The howl
of the coyote was an every-night nmsi-
cale. In the midst of such surround
ings this life began in 18(52. ( It was
vigorous and strong , energetic and am
bitious. It looked upward toward the
stars and reached out for the higher
levels of the air. Strong arms , sym
metrical limbs , and all that embellishes
and beautifies individuality in life com
bined to make the subject of this sketch
distinct and admirable.
During thirty-six years it afforded
protection in winter and delight in sum
mer to all who came within its magic
influence. Even the birds of the air
found a friendship for it and caressed it
as a living and breathing protector. The
tender care and watchfulness of a wo
man's love directed its growth and for
mulated its character. It was watched
during thirty-six years with the most
affectionate vigils. Tall , straight , sym
metrical and strong it elicited praise
from all beholders.
But on the night of May 20 , 1898 , a
tempest tore over the land and among
its victims selected for sacrifice this beau
tiful conifer. It was a balsam-of-fir. It
stood upon the grounds of Arbor Lodge
between the house and the north gate.
The strength of the storm was too much
for its sturdy trunk. It yielded to the
force of the tempest and was beheaded.
A little more than seventeen feet from
the ground the body , which was solid
and sound , was severed. The break ap
peal's as though the top part of the tree
had been lifted upward by a great force
until the liber of the wood separated.
It looks as if it had been pulled apart by
a power or force reaching down from
above.
The mensurc'iui'iit of this tree , which
was planted thirty-six years ago this
month , is four foot nine inches in cir
cumference at the base. It had grown
to a height of forty-nine feet two inches ,
although when first planted it was not
eighteen inches in height nor more in
girth than one's little linger.
In this world of rapid changes and
vicissitudes there come to us all losses ,
pecuniary , losses of kindred by deaith ,
losses of crops , losses of all sorts and
lands , too immmerable for specification.
But there is no more pathetic bereave
ment for one on the down-hill side of
life than the destruction of either fruit
or forest trees which ho cannot replant
and live to see attain by normal growth
the size and character of the one de
stroyed. Many losses may bo regnined
by fortunate , gainftil occupations ; dams
that give out may be rebuilt ; in fact , all
sorts of losses , except the loss of very
near and dear relatives and friends , and
J.
very near and dear trees , can be re
stored , or at least mitigated. But the
loss of an evergreen tree fifty feet in
height coming to a man ( i ( ' > years of ago
is absolutely without compensation ,
restoration or mitigation. It is abso
lutely and everlastingly irreparable.
This tree pierced the sky and stood
out upon the landscape like a beautiful
pyramid of emerald. It preached to the
passerby upon the highway of the value
and beaiity of the conifer in Nebraska
soil. It talked to children and adults
alike of the embellishment of homes
with the verdure and symmetry of the
conifera. Therefore in its life as an
exhorter in behalf of the { esthetic and a
symbol of the best quality of home em
bellishments this tree was eloquently
and efficiently useful. If all human
lives could be made as symmetrical as
this , all character as solid and clean as
its trunk , and leave only memories as
pleasant , with associations as charming
and graceful , this world would bo
better and more like the paradise of
Adam and Eve.
The farmers of Nebraska are just at
this time sending prime , smooth , extra
tip-top beeves into the Chicago market.
Many of these animals are being shipped
to England. They are there exchanged
for money. The beeves purchase money
of those who wish good meats and of no
body else. The beeves have therefore
only a n ] > i'ciji < ' purchasing power. The
idea of exchanging them for money is to
get a commodity which has a nnii'cmil
purchasing power. That money which
fluctuates the least in purchasing power
the world over is gold money. There
fore the Nebraska farmer and the ship
per of the animals which that farmer
has fattened for market purchase money
and they want that kind of money which
when they part -with it will bring them
the greatest satisfactions in whatever
one of the world's markets they may
trade. Good money has a universal and
almost wholly unfluctuating purchasing
power. The rise and fall of prices as
measured by money depend \ipon the
relation of siipply of to demand for the
things which go up and go down in the
markets.
Why not deprive both gold and silver
of the legal tender qiiality when those
metals are used , in coin , as money ? The
legal tender was bestowed upon money
in the first instance in order that people
might bo compelled to accept for their
dues a currency which they otherwise
would have refused ,