THE OMAHA DAILY BEE ; MONDAY , DECEMBER , 1801 ,
BANKS AND THE CURRENCY
Interfiling Figures from tbo Beport of
Comptroller Eckels ,
BUT FIFTY'NEW BANKS ORGAMZ-D IN 1894
Vefecti In the Xote iMutng I'orror of
tlio Jlanld DUcimcd nt Length sy -
Icin Lacks Khutleltjr New
limit for Ilnnk Currency.
WASHINGTON , Dec. 2. Tlio report of
Hon. Jnmei II. Uckcls , comptroller of cur
rency , to lia submitted to congress today ,
glvc8 full Information In regard to the organ
ization , siipcrvlilon and liquidation of the
national banks for the year ended October
31 , 1891. It chouB that during this period
but fifty banks uere organized , vUth a cap
ital stock of $ " ,289,000 , the smallest number
chartered , as well as the minimum of capital ,
In any one > ear since 1879. Of these new
banks , t onty-se\en are In the northern and
eastern states , ten In the southern states
and thirteen In the western , or transmtasls-
slppl dlvlilon. On October 31 , 1801 , the
total number of national banks In operation
was 3,760ltli nn authorized capital stock
of $ G72,6T1.1C. , rrpresented by 7,955,076 shares
cf stock , owned by 287,892 shareholders. On
Octobir 1 ! , 1891 , the date of their last report
of condition , the- total resource of the banks
were $3,473,922,055 , of which their loans and
discounts .amounted to $2,037,122,191 , and
money of all kinds In banks $122,428,192.
Of their liabilities , $1,728,418,819 represented
Individual deposits , $331,121,082 surplus am
net nndli tiled profits , and $172,331,978 crcu !
latliiR note ) outstanding. Tha total circu
lation of national banks on October 31 , 181)4 ) ,
amounted to $207,472,003 , a net decrease dur
ing the year of $1,741,563 , nncl a gross de
crease of $8,614,864 In circulation secured by
bonds. During the year seventy-nine Innk ?
with an aggregate cjpltal stock of $10,455,000 ,
passed out of the system by voluntary liqui
dation , and twenty-one , Including two which
failed In 1S93 , with a capital stock of
$2,770,000 , became Insolvent , and were placed
In charge of rsecluTs.
nnrncTS IN run SYSTEM.
The feature of the comptroller's report Is
Ills discussion of the currency question and
the defects which are talcl to exist In the
note-Issuing powers vested in national banks.
On this subject ho says : "No section of the
law should be disturbed which cannot bo ma
terially Improved upon and no amendment
engrafted unless such amendment will work
out better results than follow from the exist
ing order of things. For the present law It
may bo conceded It lias been successful In
every muterlnl feature , excepting In the mat
ter of bank note Issue , and here the failure
has been but a pallia ! one. The notes Issued
by the banks , under governmental super
vision , have been uniform In appearance and
under any and all circumstance * of the full
fuc2 vnluo which they purport to carry. They
have possessed the first requisite of a good
bank note Issue ImnieJIate convertibility IntD
coin upon presentation ,
"It Is probable there could be na better
plan for simply insuring the note holder
against loss than the present requirement of
a deposit of bondt to secure a bank's circula
tion , but It Is equally certain , however , that
a method could bo devised not less safe In
this respect , and , In addition thereto , posses
sing that which IH essential and Is now
wholly wanting elasticity of Issue. The
complaint , therefore , made against the pres
ent system Is that , lacking In elasticity
of Issue , It falls to meet as fully as It ought
the varying wants of the country's trade and
commerce. This defect must attach to every
schema for a currency Issued by the banks
against n deposit of bonds , the market value
of which fluctuates , while the prccntago of
Issue , less than the value of the bonds
granted the banks , remains unchanged.
"It must also be wanting In such a method
bccaute of the delay In the face of a pressing
need , occasioned by a tight money market or
other reasons. In securing and depositing
the bonds required and taking out the circu
lation thereon.
cimiicNCY MUST nn SOUND.
"But serious as Is this fault and returdful
as It Is to the business Interests of the
country , any attempt to remedy It which
should lose sight of or In any wls ? make less
certain the present unquestioned controvertl-
billty of the bank Issues of the country could
not be Ubed. It Is a duty of governments to
sco that the currincy which circulates among
the people shall always be of the very highest
character , the soundness of which should
never bs a subject of Inquiry. For thirty
years the American people have had such a
bank currency , and , having seen the value
of It , both hero and abroad , thy will not
be content to have any Innovation made un
less such new departure Insures neb only
equal , but better results. It Is resp'ctfully
suggested that not only as good , but bet
ter , resujts would be attained If the present
bank act were amended by repealing the pro
vision thereof requiring each bank , as a pre
requisite to entering the system and Issuing
bank note currency , to dfposlt government
bonds. In lieu of such provision should be
substituted one permitting the banks to Issue
circulating notes against their assets to an
amount equal to at least their unimpaired
capital. "
The comptroller follows this sug
gestion with the further one for the main
tenance of n safety fund , to bo provided by
a graduated taxation upon the outstanding
circulation of the banks till the same shall
be tqunl to not less than 5 per cent of the
total of such outstanding circulation , this
fund to be held by the government as an
agent only and for the purpose of Imme
diately redeeming the notes of Insolvent
banks. It Is Immediately to ba replenished
out of the assets of the bank , on which it
shall hsve a first and paramount lien , and
from assessment to the extent of double the
liability on theshareholders. .
The comptroller says : "Whatever other
changes , If any , It would be necessary to
make In the present system relative to cur
rent redemption of bank notes , and the gov
ernment's position toward the game and
kindred matters. It la not necessary to set
forth. If the recommendations here made ,
together with those which follow , should re
ceive , consideration at the hands of congress ,
n bill drown after careful study and Investi
gation of the whole subject would necessarily
embody all the details necessary to the
change from a bond to a safety fund neces
sary iis a basis for bank circulation. " The
comptroller then cites such proof and gives
such statistics as seem to him to make the
plan suggested a perfectly safe one to enter
upon. He says ; ' "The changes thus out
lined will , upon Investigation , It Is believed ,
prove to be safe In affording complete secu
rity to the noteholder and give to the busi
ness Interests of the country a bank note
Issue responsive to their needs. "
PIIOFIT OF THE HANKS.
Continuing , the comptroller says : "The
profit upon the Issue of circulation to the
banks by such change would be so augmented
that It Is giving to them a franchise , for
which It Is ( uggested they should be called
upon to make proper return to the general
government. This return should not , how
ever , beef such a character as to defeat the
ends sought In the privilege given. The
currency redemption of the legal tender Issues
and the treasury Issues under the act of
1690 , and the reissuing -Instead of cancella
tion ofthe same , must always create distrust
of the government's credit abroad and at
homo so long a * the laws now upon the
statute book remain unchanged.
"The general government ought to be
wholly free from the direct Issuing and re
deeming of notes to pass as money among
the people. No government has ever yet
successfully engaged' In so doing , and the ex
perience of the government of the United
States has proven no exception to the rule.
The general cost and loss entailed upon the
government and the periods of uncertainty
as to tha government's credit and\he \ > etnbll-
Ity of our monetary system have be n so
great aa to make the legal tender and treas
ury Issues of 1890 one of the extraordinary
burdens placed on the people.
"These Issues ought to be redeemed and
cancelled and the government thus enabled td
retire from the banking business , a business
for wtilcli It l so poorly equipped. The In
tention of the o who first authorized the legal
Under Issue was that It should so retire at
Ui earliest practical moment. Th first con
gresslonil enactment signed by President
( Irani after tils Inauguration as chltf execu
tive vis one reasserting the determination
of the government to preserve unquestioned
the public fnlth , and tha doling clause of It
was'And the United States also solemnly
pledges Its faith to Inake provision nt the ear
liest practicable period for the redemption of
United States notes In coin. ' "
WAY OUT OP rnnan.NT mmcm/rins.
In the light of the p-escnt condition of the
government's finances the comptroller contin
ues : "That which ouglit to liavo been done
TV-lien there was a surplus In the treasury
cnnnot now be undertaken , and the sain
conditions must continue to weaken th * coun
try'u credit nnd plncm the llnss of bushes
unless a means U devised for removing the :
Issues from the channel of current rcdemptlo
until such timeas the government finds It
self In a position to do that which was firs
the Intent of nil gradually redeem and can
eel them. The ultimate redemption In col
of course must all ha upon the government
but the embarrassment does not arise frotr
their ultimate but from their current re
demotion. It Is , therefore , suggested that t
congreis shall repeal the provisions of th
present act requiring the national banks ti
make a deposit of government bonds In orde
to secure circulating notes and substitute
therefor n piovlslon giving them Instead the
right to Issue the same against their assets , 1'
Incorporates therein and as a pirt theico
that as a prerequisite to to doing the bink :
be-compelled to deposit with the treasury o
the United States legal tend r I'sues or Issues
under the act of 1890 equal In amount to
the difference between the percsntag } of their
capital stock of Issue granted against their
assets nnd the total of such capital stock. The
deposits thus made ought to remain with tlis
treasurer until the bank ceased , cither
through voluntary or Involuntary liquidation
to do business , nncl In cither case the govern
ment ought then to redeem and cancel such
treasury Issues deposited. As against this
deposit of legal tenders and ticasury notes
so made there should bo Issued to the banks ,
dollar for dollar , national bank notes , either
of the same or different design , as might be
deemed best. The percentage- the bank
notes Issued against thla deposit should be
free from any taxation Imposed upon circula
tion , and ought to be such percentage as Is
deemed equitable- be used as a part of the
bank's legal reserve held against deposits.
The government should not undertake or In
any wise be responsible for the redemption of
these notes. Its responsibility should end
with Its redemption of the notes deposited
to eccuro such circulation when the bank
ceases to exist. At present a current re
demption fund of G per cent of the outstand
ing circulation la found sufficient , and It Is
probable that In the future no greater amount
would be required. The elasticity of issue
In the national bank circulation will be found
In the perccntago of Issue against assets sub
ject to the necessary rate of taxation and
Insured by an adequate safety fund to guar-
ranteo the note- holders against loss. The
government wilt be aided , the bank given In
exchange a dollar for every dollar deposited
and thus relieved of the1 lota Incident to de
positing an amount of Its capital stock In ex
cess of the return In notes granted It. No
violent contraction of the currency would fol
low such a course , but whenever contraction
occurs It would bo no less gradual than at
other times the expansion Incident thereto.
CHANGES IN TUB PRESENT LAW.
"It Is suggested that as a necessary cle
ment to the securing of proper elasticity of
Issue In our bank note currency , section 0 ,
act of July 12 , 1892 , regulating the re
tirement and Issuing of circulation to banks
within a fixed period of time should bo re
pealed and also that an amendment should
be made to the law necessitating the banks
keeping In the ofllce of the comptroller of
the currency a sufficient amount of blank
notes as will enable them to secure clicula-
tlon at once , Instead of a period of delay.
Suggestions have been received from many
eminent sources that the whole question of
a banking and currency question ought to bo
referred by congress to a commission to be
created by law , appointed by the president
and clqthed with proper authority. A com
mission , nonpartlsan In Its character , com
posed of men of eminent abilities , could un-
questlonab'y devise a currency ; system sound
In every part and one wh'lch would commend
Itself to every Interest of the country. It
could largely take the question out of poli
tics and have It considered simply In Its
business aspects and upon lj.s merits , bu !
If the present congress Is to enact a law upon
the subject the appointment of a commission
could avail nothing. If , however , nothing
moro definite can be accomplished , the ques
tion ) of the creation of such a commission
ought to be considered and acted upon. "
I'oilnil tlin Iloy'8 Body.
LUSK , Wyo. , Dec. 2.-Speclal.-Two ( )
messengers from the party who went out to
look for George Grimes , the boy who was
lost In the.blizzard on November 15 , cam °
In this afternoon and report having found
the remains of the lad behind a large rock ,
not moti > than a , nlle south of the camp on
Lance creek , made by the boys the day
before the storm ,
The child had tried to form a shelter by
piling rocks around him. His hat had
blown away , but his unloaded gun leaned
against the ruck ami close beside him.
The body was curried eight miles through
the rough brakes to the wagon which the
searching party took with them.
A Child
The pleasant flavor , gentle action and sooth
ing effects of Syrup of Figs when In need
of a laxative , and If the father or mother be
costlvo or bilious the most gratifying results
follow Its use , so that it Is the best family
remedy known , and every family should
have , a bottle on hand.
hand.o
2'EltSOX.lI , 1'AKAGIt.tl'lIS.
F. L. Burrow of Fremont Is nt the Del-
lone.
Thomas A. Smith was at the Arcade yes
terday.
Max Uhllg of Holdrege Is registered at the
Dellone.
"A Hunch of Keys" company nre nt the
Darker.
W. E. Henry , a banker of Ponder , Is at the
Dellone.
H. J. Reed , a merchant of Hebron , Is at the
Paxton.
W. C. Tlllson of Kearney Is stopping at the
Paxton.
R. E. Rogers of Grand Island Is at the
Merchants.
Ralph Phtt of Grand Island Is a guest at
the Delllonc.
John W. lllack of Nebraska City Is a guest
at the Dellone.
Judge F. G. Hamer of Kearney Is registered
at the Dellone.
II. W. Potter of Fullerton was at the Mer
chants yesterday.
C. A. Chaeo of Wayne wag a guest at the
Mlllard yesterday.
Edward C. Smith of St. Joe Is at the Paxton -
ton for n few days.
Arthur Llndburry of Essex , la. , Is regis
tered at the Barker.
B. F. Johnson
and wife of Mlnden are
guests at the Mercer.
Austin Mathews of Weeping Water was at
the Murray yesterday.
Dr. F. W. Chamberlain was at the Delllone
a short time yesterday ,
J. W. Thompson of Norfolk Is at the Mer
chants for a few days ,
C. E. Olesen , a grain and lumber dealer of
Oakland , Is at the Dellone.
Joseph Rleger and M. Rlley of Daw son are
stopping at the Merchants.
R , B. Schneider of Fremont stopped for a
few houra at the Mlllard yesterday.
Part of Donnelly Glrard's "Rain .
makers" company are Barker guests.
J , E. Boquet , proprietor of the Keeley hotel
at Grand Island , and wife are at the Paxton -
ton ,
T. B. Hard , a cattle man from the neigh-
borhoop of Central City , Is registered at the
Paxton.
Gus Bothner and wife and C. W. Bowser
of the "Bunch of Keya" company are stop
ping at the Dellone.
County Attorney Alvah C. Hobsrt , Sheriff
Daniel Oneer and W. C. Whlsman of Chero
kee , la. , are In the city.
Mrs. J , D. Cowls of Minneapolis , accompan
ied by her children , Is visiting her mother ,
Mrs. Schwalenburg , on North Eighteenth
street.
Commercial men at the Barker ; Julius
Shaub , Louisville , Ky. ; W. F. Green , St.
Louis , Con D. Hurrlngton. Kansas City ; C.
W. Hlnzle , Kansas City ; W. L. Wallace ,
Norfolk ; W. C. Holand. Norfolk ; L. D. Cralgi >
Louisville , Ky. ; F. C. Holllneer , Des Molnes ;
J. Kramer , Alchlson , Kim.
CUFFING A CORPORATION
? an Frnncleco Administers n Sharp Rebuke
to Monopoly ,
SUTRO'3 ' REMARKABLE RACE FOR MAYOR
Outrnns Tour Competitor * nnd iVtns Kmlly
Sketch of Ills Cnrccr , Ills \\oiulcr-
ful ( Innlcns , I.lbrurjr nud
Ocean Hat(19. (
The defeat of a corporation candidate for
governor of Nebsaskn has n conspicuous coun
terpart In the mayoralty contest In San 1'ran-
c'sco. ' In both Instances the Issues were
sharply defined and the victory of the people
decisive.
Adolph Sutro , the mayor-elect of San Fran
cisco , Is not a radical opponent of corpora
tions as such. On the contrary , ho be
lieves with the mass of the people that In
attending strictly to the business for which
they were created their rights and privileges
should be re'pcct'-d. But the moment they
assume that the creature Is greater than
the state and attempt to monopolize the gov
ernment all the flghtliiR qualities of Sutro
are nt the command of the state.
Probably no state In the union Is as
thoroughly corporation ridden as California.
The Central and Southern Pacific railroad
companies dominate Its commercial and polit
ical life. They make and unmake governor
or senator as readily as they regulate the
Income of California producers. They con
trol every avenue of transportation to the
Golden Gate , and exercise fco great an In
fluence at the financial marts of the world as
to repeatedly balk the efforts of wealthy
cltlrens to throw off the yqke by building
rival lines. Their power extends to every
city In the state , and few attain office with
out their consent.
Mr. Sutro came Into conflict with the cor
poration last spring. Controlling nil lines of
street railway transportation from San Fran
cisco to the Cliff house and Mr.
Sutro's magnificent gardens , the com
pany exacted double fare. In vain
Mr. Sutro expostulated. He had Just
spent a moderate fortune In the erection of
ocean baths , and Insisted that the company
must reduce Its rate. "One trip , one fare , "
became a popular slogan. Popular demand ,
however , fell on the deaf ear/3 of the corpora
tion managers.
Mr. Sutro agreed last April If the railroad
company would make a single G-csnt fare to
the beach to deed the Heights , the Cliff
house and the greater portion of his vast
possessions to the city ns n free pleasure
ground. The railroad company refused h's
offer and Insinuated that he wns using them
to boom his bath nnd his other projects.
This roused his wrath , and he swore a
mighty oath that ho would fence In the
Cllfl house nnd all the other attractions and
never permit any passengers by the railroad
free admission to those places until the rail
road company agreed to carry passengers to
the Cliff house for a nickel.
THE MONOPOLY LAUGHED FIRST.
The monopoly laughed at his threat , but
Sutro the next day had nn army of men
building high fences around his property ,
and the next Sunday the traffic on the Cliff
House railroad fell off over CO per cent. The
week after It dropped still loner. The rail
road showed no signs of yielding. So Sutro
arose In his anger and declared that he
would build a railroad of his own. After
great trouble he secured a franchise out
Point Labos avenue , and he made all ar
rangements to build an electric railroad which
would be extended down to the ferry.
This was early last June. Mr. Sutro had
now become so angry agalnU the Southern
Pacific company that he determined to or
ganize a great fight against them , not only
In San Francisco , but In Washington. In
a talk at that time he said that he proposed
to go to Washington this winter and do his
utmost to beat the Rellly funding bill. Ho
also organized an anti-railroad club , which
was the nu6)eus ) of the political club that
elected him mayor. He didn't dream of
offlco then , but as the fight progressed and
property owners In the suburban districts
trooped to his offlco to subscribe for shares
In his new electr.c railroad. It began to be
noised about that Sutro would make n great
mayor. He
was the
only man , his
tup-
porters said , who would teach the Southern
Pacific to know Its place and
obey the laws.
The suggestion of Sutro for
mayor was re
ceived with a whoop , and In a few dayp a gen
uine boom was begun. The railroad mana
gers laughed again and said that this was
the milk In the cocoanut of the professional
philanthropist. They declared he might be
nominated by the woolly populists , but he
would be'snowed ' under on election day. The
first part of their
prediction came true. The
populists met and adopted a platform , the
main planks of which were anti-railroad
,
and applied not only to ths Rellly 'funding
bill and *
excessivefreight and
passenger rates
throughout the state , but mentioned the fight
for single fare to the Beach. On this plat
form Sutro was nominated. He was the
only man on their general or municipal ticket
who was elected.
MR. SUTRO LAUGHED LAST.
The greatest surprise of Suiro'g campaign
came on October 30 , when the Southern Pa-
clflo company made a complete and uncondi
tional surrender to a man who , five months
ago , began the single- handed fight against
them. On that day formal amiqmicement
wns made by the railroad managers that they
had decided to grant a single fare to the Cliff.
The announcement said this action had been
decided on three vveeks before , at a meeting
rf the directors of all the street railroads ,
and that November 1 had been selected ns
the date , but that a hitch In perfecting ar
rangements would probably delay matters for
two or three vceks.
Election day proved the wisdom of Sutro's
course. He had the advantage of a split
In the republican ranks , but even had they
remals-id firm he would have won handily.
i-a It was , he received the enormous vote
3f 17,227 , against 8,850 for Dr. O'Donnell ,
the anti-Chinese crank , and 0,037 for Ellert ,
present mayor and nominee of republicans
ind non-partisans. Old Jeff James , the demo
cratic nominee , wasn't In It , receiving only
2,633 votes.
Perhaps the best Idea of what Sutro will
3o as mayor will bo found In these words
if his before election , when his success was
uncertain :
"If placed In the mayor's chair I shall en-
Jeavor to be Just and fair to all , but the
moment the aggressive corporations overstep
the bounds of law I shall firmly oppose them ,
ind If corrupt means are used I shall , In my
jfflclal capacity , endeavor to unearth and
3rlng both the bribers and the bribed to jus
tice. I shall try to bring about an honest ,
Businesslike and economical administration of
the affairs of the city , and , If possible , save
snough for a fund to beautify the city , and
thus give work to the unemployed. "
SUTRO'S FAME AND FORTUNE.
Adolph Sutro Is a picturesque figure. Tall
ind straight as a , pine tree , his hair wlilte
ind his aide whiskers with but a tinge of
jlack , he la still vigorous , despite his 63
rears. Sutro Is rich how rich he himself
lardly knows ; but he owns one-tenth of the
irea of San Francisco county.
Ho was born at Alx-la-Chapelle , near the
Iver Wurm , In Rhenish Prussia , one of
sleven children. His father wan a manufac-
urer of cloth. (
In this calling Adolph was early Initiated.
Vfter the revolution of 1848 the mother , by
.his time widowed , brought her brood to
stew York , landing In 1850 , and In the same
rear reached Baltimore. Adolph caught the
; old fever and was soon on the Pacific coast ,
lo has been here ever since , excepting for
rips abroad , during which he has visited all
he civilized countries , and he has been an
mport&nt factor In the development of the
Fame and fortune came to Sutro through
ho Comstock tunnel , which bears his name ,
in enterprise that he conceived and carried
ml In the face of opposition that would
lave discouraged and crushed another man ,
rhe tunnel waa begun In 1864 and completed
n 1878 , and then Sutro was a millionaire.
3y Judicious Investments his wealth steadily
ncreased. He Is of luxurious tastes and
IBS gathered about him treasures of art to
inrlch his home , Sutro Heights , and made
t beautiful with rare vegetation and stat-
The home Is surrounded by a magnificent
state , situated on a high bluff on the west-
rn short ) of the peninsula , overhanging the
Pacific , and covers several acres of ground
jeautifully laid out In walks and lawns and.
adorned with slatuorr , , etc. It Is Mr , Sutro's
private residence , oirUthe gate * nre always
open to the publlcnrnd Is In reality a mag
nificent free park , commanding the best view
of the Pacific , thUskl ( Rocks , tlVB Golden
Gate , Fort Point ami the Farallone Islands.
A WONDUUKUL LIBRARY.
It Is his design to give It to the city some
day. He has a lloffarV of gret value , nl o
to be given to the city. This library Is one
of the finest In the world. In the midst of nlV
his multitudinous < ue * for the past ten
years ho has found , time and means to pur
chase 250,000 volumes ; which will numbir
ns many more when ripe for his turning It
over to the public. Tt Is Intended to be
mainly scientific anfrWlmlcal , for public ref
erence only , although rich In history and
literature. Among , the collections may bo
cited 4,000 volumes of the early printers' art ,
mainly from the dup'llc.'Ues of the great Mu
nich library , Peter Schoeffer , printer , 1470 ;
Illuminated printing- and writing by Da Prises ,
an old Roman father , on Pantheologue. A
commentary on the epistles of St. Paul (1470) ( )
was amusing because of the conception dls-
plaved In the Illustrations ; "Casting Out the
Devil" showed a small horned monster thrown
Into the air , while the victim thereof look
on In amazement ; "Absalom In the Bosom o
Abraham" being a diminutive figure fully In
cased In the trunk of Abraham , etc. "Llfi
and War of Julius Caesar , " written In 1565
fully Illustrated , clothing the heroes In unl
forms of Frances I. style and huge cannon
facing the rebellious Egyptian ; . A Russia ;
bible of 1663 , rare because of Its being firs
In printed Greek , following hieroglyphics , th
author signing his work "Venetls In Oedlbu
AMI. Mense eullo M. Id. "
Many of these works average $200 each I
price given , and one , "Oral Prayers , " I
Latin , of the thirteenth century , all wrltter
with pen and Ink , cost $400.
There are rare books from the Monastery
of Buxhelm and the duke of Dalberg's II
brary , and 2,300 Japanese manuscripts. Tw
curious collections of Semitic philology am
literature ; the working library of the lat
Secretry Wells of the English Society of In
tltistrlal Chemistry , numbering 2,500 volumes ,
Hebrew manuscript , on vellum , some crlg.
Inals1 "Work of Moses Ben Marmon , " writ
ten by a scribe In 1298 , the greatest Hebrew
who has ever lived , and rightly named "Tin
Light of Israel" for his great learning , hav
ing been a theologian , philosopher and phy
slclan ; born In Spain 1135.
What wo now call "posters" was In Eng
land called "broadsides. " Many of these are
hero In the original , one being of Charles
Stuart's reign (1649) ( ) , which was "an order
restraining the people from spending so mud
money on extravagant wearing apparel. '
Many fine copies of warrants , etc. , during
various kings' and queens' reigns , that of the
warrant to execute the beautiful Mary Stuart
queen of Scots , In 1657 , signed Elizabeth , be
ing particularly fine.
In another department there are In the
original a copy of each four editions of
Shakespeare dated 1623-32-64 and ' 85 re
spectively. "Psalms" belonging to James
Charles I , and Charles II. , wonderfully pre
served , bound In wood , and presented to the
latter after the restoration. Copy of "Pil
grim's Progress , " with Inserted cuts , which
are facsimiles of those of the first edition
printed In London In 1678. In fact , the stu
dent can here find books on every subject
theory. Ism and food for fancy and specula
tion.
OCEAN BATHS.
The Sutro baths are the finest In the world.
They cover an area , of two acres , with
an ocean frontage of 350 feet , adjoining the
Cllft house. The vast ampltheater , which ac
commodates 10,000 rTioplb , Is roofed with Iron
and glass. The first floor Is given to offices
and rooms for attribution of bathing
suits. There are three restaurants , on aa
many floors , concerfhalls , promenades , re
freshment booths aiid fcjub rooms ! for ladles
and gentlemen. In addition to 700 private
rooms , there are special' apartments fitted up
with shower baths,1 wlAle all of them are
lighted by Incandfccent lights , and have
every conceivable rqpdjrn { Improvement. The
water tanks are five flights below the en
trance. Tropical plants ) shrubs and trees
grow In the mother" earth , on both sides of
all the descendlng taJrways , making the
scene from the Immense gallery enchanting ;
tiers of seats banking' ' np one large section ,
from which as much"VpJe asure can be realized
as though participating : with the revelries of
thousands who anratntiipf ; or sporting In the
water at their basflCSllJlinKeeplriK with the
murmur of the cceanr amitlie , hidden music
from an orchestra.r T
NINETEENTH CENTURY PRODUCT
Dr. Victor Jlojeivater on the Growth anil
Cnusen of Modern Municipality.
Dr. Vlptor Rosewater last evening deliv
ered a lelture In the Unity club course ut
the Unitarian chinch on "Tho Modern
Municipality. " He began by saying that
the subject as announced was a trifle mis
leading. It might lead people to expect u
description of the typluil city of toduy ,
with an explanation of Its government ur.d
suggestions of remedies for ltd abuses. Jlo
said the topic more accurately atateJ would
be "The Municipality Modern. "
By a pelles of pIctuicR of different cities
of the vvoild , past and presentr the develop
ment of the municipality of today wns
traced historically In order to show that
the city IIB it Is now known IK a product of
the nineteenth century. Ur. Hosowater
traced the germ of municipal corporation
fiom the Roman piovlnclal town through
th ? middle ages , down to the modern legis
lation , delegating limited powers to par
ticular classes of Urban communities. The
ilse of London ami New Yoik vvat. portrayed
trayed and statistics of in ban prnwth set
forth nnd discussed , and the 'ecture cJost-d
with a bilef analysis of the ; aii&o liadlng
up to the modem municipality.
Struck n Itlch Tead.
BOISE , Idaho , Dec. 2.-At Boise City ,
Idaho , In a hole being bored to explore for
placer gold below the false bed rock , the
dilll has struck n. gold ledge that appears
to be large. The tock assays three ounces
of gold nnd twenty-eight ounces of silver
per ton. The Important dlscoveiy wus made
at a depth of 470 feet.
Prenmtnro Ktploslon Klltad Tiro.
BUTTE , Mont. , Dec. 2. By u. premature
explosion of a blist th the Giey Rock mine
this morning , Sam Pollard , u mind- , wan
blown to pieces , and John Stone , his part
ner , so badly Injured that he canot lecovciv
Stone's eyea were blown out.
Captain Sweeney , U. S. A. , San Diego ,
Cal. , says : "Shlloh's Catarrh Remedy Is the
first medicine I have ever found that would
do me any good. " Price GOc.
WKATllVM rOltEU.ltiT.
1'atr nnd Warmer with South Winds for
Nebraska Today.
WASHINGTON , Dec. 2. The forecast for
Monday Is :
For Nebraska Fair ; warmer ; soutl )
winds.
For Iowa Fair ; warmer ; south winds.
For Missouri Fain warmer In the north
ern poitlon ; north winds , becoming outh-
erly. *
I-or Kansas Fnlii ; warmer ; south winds.
For South Dukotat-Kalr ; south vvlndH.
Local Itecord.
OFFICE OF THn-wtATHnK BUREAU ,
OMAHA , Dec , 2. Omaha record of temper-
nture and rainfall , y ° rt > Pured wm , the cor
responding day offtHstJ four years :
/ < J 1804. 1893. 1832. 1691.
Maximum temperature : . . . 28 17 CO C.1
Minimum temperatyre.1. . . ID 10 34 37
Average temperature..c. . . 22 14 42 45
Precipitation .i 00 .43 T .00
Condition of temperature and precipitation
at Omaha for the My since Maich 1 , 1894 :
Normal temperature . , 33
Deficiency for the day * . , H
Normal precipitation ' . ' ,01 Inch
Deficiency for the tlay , 04 Inch
Total preclpltutlon.BUice March 1 15.07 Inches
Deficiency ultice Mafcb 1 15,69 Inches
Iteports from OttieV Station * at 8 r. M.
.
T" Indicates Iricoof precipitation.
U A. WEL3U , Observer.
\YALL \ STREET IS UNRUFFLED
Bond IB&UQ 0rented No Btir in tlio Ctngna-
tion Eurroumllng Speculation. ,
HAS HAD ANOTHER CHILL fR M 111. WIST
lli'ductlon of the Northwestern Dividend
Iteprcsscs Any Itoniu rcellnj ; Doubts
of tlio Uotrriimcnt'A Mitblllty Htllle I
nnd Silt cr Agitation Handicapped.
NCW YOHK , Dec. 2. Henry Clews , liecd
of the banking house of Henry Clews & Co. ,
n rites of the situation In Wall street :
"Wall street still remains comparatively
stagnant. K\cn the great success of the
treasury loan has failed to rnlse a ripple of
excitement nnd has produced no visible effect
upon prices. There hnve been times nnd
conditions when such nn exhilarating event
would hnve Inspired a sreculattve 'boom,1
but operators hnve been compnrntl\cly In
sensible to this negotiation , In spite of Its
assuring suggestions.
"It Is easy to draw mistaken Inferences
from tills apparent Indifference In Wall street
sentiment. The men of the Stock exchange
appreciate as well as others the gratifying
significance of a national loan being bid for ,
under the present unsettled circumstances , to
an amount three times the sum offered , and If
they hnve not gone wild over the fact It Is
because there have been concurrent circum
stances that made the moment Inopportune
for nny Impoitnnt speculative effort. The
ptrlt of the street has been chilled by 1111-
othpr bljst ot dlscouiagenient from the
Hinngtr region. Following the Chicago ,
Htirllngton < k Qulncy , the steady nnd sturdy
Chicago & . Noithwestern hns reduced Us
dividend , urcl among the toads of that sec
tion the feeling Is one of some discourage
ment nt the Hplilt shown In politics nnd by
judges nnd Jiules against the lallroad In-
ti ient. The annual statement of Krle , one
of the worst In the history of Its operations ,
hns also been unexpectedly dlscoutaging.
A point Is now being reached In railroad
affuli.s which reveals the full effect of the
girat depression thnt hns befallen every In
terest , nnd altluniL-h this has been foreseen
nnd largely discounted In the full of prices ,
yet It Is not mil prising If some shock Is felt
when the full-blown results appear In ofll-
clal flguies and reductions of dividends by
leading roads. Beyond these Influences
there Is the decline of speculation , If not
aluo some measure of realizing , thnt Is ol-
wnyfl Incident to the nppionch of the close
of the jear , and this Influence Is likely to
be the moie apparent now becnuse the
> car's results of business cannot be ex
pected to prove exhilarating. Under these
circumstances It Is not suipilElng thnt the
success of the loan produced so little effect
upon the stock maiket.
GOVERNMENT STILT ; STAHLR.
"Neverthelesslewed as a test of finan
cial conditions , the subscilptlon for thrice
the amount of bonds offered affords some
welcome revelations. The fact shows that
the common talk here nnd abroad about
distrust In the coverrment ciedlt Is more
a matter of surface ciltlclsm nnd momen
ta ty pessimism than of icnl want of con
fidence. It means that , while there Is rrb
disposition to Ignore that some serious de
rangements and unsound conditions exist In
our national finances , yet there Is no lack
of public , confidence thnt these faults will be
soon lemedlcd. In fact. It Is realized that ,
as u nation , we arc In the midst of a man
ifold process of reconstruction , which natur
ally ( twelves pome confu lon and much mis
apprehension , yet It Is at the same time
seen that the drift Is tow aids the Incorpora
tion In our afTalis of what Is new and better
In the methods and conditions of the times ,
nnd this fact Implies nn advantage to finan
cial operations which will boon nnd due ex
pression.
"The success of the loan hns nn Important
effect as evidencing n ie\lval of confidence
among Investors. It shows Unit the owners
of the muss of capital so long kept Idle nre
bucoinfng satisfied that the depression In
the value of sound securities hns reached
bottom. When the goveinment hns $150-
000,000 offered at 3 per cent , It Is a fair pre
sumption that there } s a large amount of
money walling to enter Investments of oilier
kinds at 4 to C per cent. The holdeis of this
capital lia\c new a plain standard of what
they may get , nnd so far the way Is cleared
to the negotiation of corporate secuiltles.
"The Inrgeneso of the subscriptions to the
loan Is the more lemarkoble In view of the
fact that It was Intended to lepnlr a mis
fortune In the public finances ; that It Is
the second of the kind within nine months ,
and that there IH some public misgiving
whether It may not have to be followed by
still further boirowlng. Public feeling 1ms
lull high In connection with the discussion
of ( juestlons of fiscal and monetary policy ,
and thequciv Is fairly before the country :
In what kind of money shall the common
mass of cur long obligations be payable ?
SHTTLKS THE SIVEIl QUESTION.
"This question was directly pertinent to the
new bonds , and It was distinctly understood
that , under the authorizing act , the bonds
were subject to payment In silver coin
as well ns gold. Yet , In the face of this
fact , our people have been willing to takq
three times the amount of the obligations
offered. That Is a very unmistakable expres
sion of Intelligent conviction that ten years
hence the government will be as certainly
upon a gold-paying basis as It ever has
been This IH an answer of no little Im
portance to the foreign Investors who have
too hastily Inferred from our heated dis
cussion of monetary questions that there Is
some real danger of the country drifting
upon the silver basis. It Is natural
enough , pel hups , that our expo&ure of the
dangers of silver money should be taken
at their worst significance by foreign ob
servers ; but It Is hardly supposable that
our European critics can fall to
correct their extravagant conclusions by
the expression of capitalistic opinion af
forded by this significant negotiation. They
cannot be Insensible- the fact thnt we ,
the most competent judges , do not shaie
their apprehensions ; nor to the further
fact that whatever assistance the govern
ment may temporarily need to keep Its
finances fortified by an adequate stock of
gold will be readily supplied by the banks
and the people. This manifest assurance
cannot but pass for much among the class
who make opinion among the bankers and
on the bourses across tha Atlantic , how
ever It may be among the less Informed
editors and the class of small Investors for
whom they curelei"-ly cater.
"For the reasons heie expressed we look
for some Important ultimate advantages
from the success of the $50,000,030 loan. At
the moment , however , there Is too much In
the Influences affecting finance that Is still
In. a stage of suspense to ndmlt of any
really active movement on the market tor
securities. These uncertainties , however ,
me not suggestive of aggravation of nny
B\l tlng unhealthy conditions. They nre con
nected with measures and policies expressly
contemplated for n better regulation of
monetaiy and financial affairs , und , there
fore , though they may bold Investment
nnd speculation In check In home measure ,
they uftoid no motive for leullzlng and no
icason for expecting lower prices for se
curities. "
l.O.SOON UlttIN TH\Di : .
Moderate Ucllrery la Wheat but Trade lu
Corn VI us Dull.
LONDON , Dec. 2. The weather Improved
luring the past week und farming has been
progressing. The wheat acreage Is the
imallest ever known. The plant looks
iVQll. In the wheat maiket there was mod-
crate dellveiy. Early delivery IM Plata re-
: elved attention , but In pending definite crop
news there was not much speculation. Rus-
ilun shlppeis wete very firm. The continent r
ivna buying. Business In parcels was very J ,
rood. Snot was fair. Trade was fair. Call- , ,
rornlu. cargo , October , was quoted ata i ,
nd red winter puicels , New York , No
vember and December , at'22s Bd. Flour
ivas dull and lower , but steady. Maize
lias been slovv and depressed , but Is now
llrm. Mlxe < l American , December , was
juoted at 21s 3d. llarley was firm and In
jood demand. Oatu was dull und Inactive.
TIIAUK AT MA.VCIIiTKU : hIO\V.
I'rlres Itecedlng and Transactions Ileloir
Production.
MANCHESTER , Dec. 2.-Thcre has been
i slow business since Tuesday's lecedlng
.tndency of prices. Transactions were be-
owr production , Yarns were from 1-lCd to
id lower than Tuesday's best prices. The
export sales were quite unlmpottunt. In
: loth the eastern business continued slug
gish , Indian llmltu being almost too low.
rim same- condition of affairs applies to
Jhlnese trade. South America bought freely
it the beginning- the week , hut has been
pjlet since then. Egypt and Turkey took
noderute linen. Taken all around the man-
ifactureru' position la still bad. The home
rode was slow. The margin between mld-
llliiK cotton and thirty-two twist Is 2 13-lCd.
I'no Lancaster firms have bought property
it Rouen and they are erecting- mills ,
> ele\lng ] they can do better there.
LONIIUN STUCK MAIUCKT.
larlotr Debenture * Snapped Up In Three
Hoar * After Their OtTei'lujr.
LONDON , Dec. 2. Money rate last week
sere fairly sustained by the continued wlth-
Irawal of gold for Paris. Although the
ubscrfptlons for the ilarlni ; debentures
What isis
I
is Dr. Snmucl Pitcher's prescription for Infants
nnd Children. It contains neither Opium , Morphine nor I
other Narcotic siib tnncc. It. is n harmless substitute
for Parcfjorlc , Drops , Soothlnjj Syrups , nnd Castor Oil.
II is Pleasant. Its guarantee is thirty years' use by i
Bullions of Mothers. Gnutoria destroys Worms and allaya
fcvcrlshncss. Gastoria prevents vomiting Sour Curd ,
cures Diarrhoea nnd AVI ml Colic. Castoria relieves
teething troubles , cures constipation nnd ilatulcncy.
Castoria assimilates the food , regulates the stomach
and bowels , giving healthy nnd natural sleep. Gas *
torla is the Children's Panacea the Mother's Friend.
Oastorici. Castoria ,
"Castorlt Is nn excellent mcdlclna for chil " Cattorla Is so wel I adapted to children that
dren. Mothers hare repeatedly told mo of Its I recommend Itassuporlortoany prescription
good effect their children. "
upon known to me. "
Dn. U. C. OsaooD , It , A. Ancrmn , M. D. ,
I VRcll , Mass. Ill So. Oxford St , Brooklyn , N. Y.
" Castoria Is tlio best remedy for children of " Our physlcHns In the children's deport
which I am acquainted , I hops the day U rot , ment bare spoken highly of their expert ,
far distant hen mothers will consider the real' cnre In their outside practice u Ith Castoria ,
Interest of their children , nnd use CastorK In and although no only hive amoug our
stead cf \nrlousquack nostrums which nro medical supplies xvhat Is knonn as regular
destroying their loved ones , by forclngoplmn , products , yet wo are frco to confess tett Ui
morphine , soothing syrup and other hurtful merits of Castoria has o > > " ta look with
gents down their throats , thereby seadlug favor upon It. "
them to pruuiaturo gracs " UNITED Hosrirxb ixa DierimgARr ,
Dn. J. F. KixcncLOK , Boston. Mass.
Conway , Ark. ALLEN C. SMITH , Fret. ,
Tlio Contour Company , 77 Murray Street , Now York City.
A Thanksgiving Story.
1>i E was at a boarding school to spend his first Thanksgiving -
| giving away from home , and this is what the
lonesome little fellow wrote home a few day ? , before
Do you blame him ?
"When Ilio Turkey's In llie oven ,
And the "i'ator's In tlio pot :
\ \ lion the - '
Cranbo-ry'a u boiling : ,
And the Pudding'H smoking hot ;
When the nuts arc cracked and ready ,
And iho riiislns heap the plate ,
And you feel so auful hungry
That you'd rather dlo than wait , /
THEN you'll remember mo.
P. S. J'A , can't I coiuo homo'- " '
THANKSGIVING WEEK Is always a busy one with us ,
particularly in our Crockery and Stove Departments.
Our Crockery department Is of spe
cial pride to us. livcrylhlng conceiv
able In China , Crockery , Qlasswaio ,
Cutlery , I'lated Ware , Lamps and
Clocks.
Our Spaclal Thanksgiving Offerings ,
Thanksglv'ng Cldor Pltshors
In clear , flrq polished , cr > tal gl.iss ,
hold nearly three quarts. Hegular
price GOc.
This Week 20o
Thanksglvln ' Tumblara
For tomorrow or as long as they
last , a first class crystal table tumb
ler , one dozen only to a customer.
Worth COc per dozen.
This Week 2o Enoh
Thanksgiving Carving
KnlvoBond Forks.
With genuine stnc handles , Merldan
Cutlery goods. Worth J3.
This Week $1.85 Pair
Thanksgiving Salts and Pcppors
In blue , rose or white opalescent
tints , with fleur-de-lis embossed dec
orations. Worth 15c.
Th B Week only Go Eac i
SPECIAL THICKS en a beautiful
line of celery trays In French und
Vienna China and embossed glass.
Your friends will call Thanksgiving
eve. Orcet them In a pleasant ! iRhted
hall. We have the llnest line of hall
lamps In the city. They are very swell
Special for Thle Week
nose nnd Hufoy Globe Pendant Hall
Lamps. Worth J500.
J500.Only
Only 2,49 rach
Our further Thanksgiving offerings
are :
Pillar Ex'onalon Tables
Solid oak , 42 Inches -nldc ; heavy
Bibsluntlal goods ; quality nnd work
manship guaranteed. Worth $12.
This Week S5.98
TERM1-CASH OR PAQT D3WN AND BALANCE WEEKLY
OR MONTHLY.
til
formerly People's Mammoth Installmant House
Open Monday and Saturday Evenings.
icre open for only a few hours , offers \\erc
ecelvcd for three times the amount of the
ebentures , largely on the Baring guarantee. "
'he debentures are alieady quoted nt a
iremlum. This Is retarded n.s a healthy
Ign , and , with the settlement of a phcno-
nenal account In the mining market , was
he chief event of the week. The marketer
or Ameilcan securities was utterly ne-
lec'tod , operators ttorklng to DIP mining
nurketH , where business Is nxHumlng mien
urge dimensions. Khaiea of the chartered
oiii pa n IPScre up 3s Cd on the week. Other
louth African ventures advanced fraetlon-
My In the face of cxtens've ' realizing of
roflts nnd mancmers Intended to shako
ut timid speculators. Continental Investors
ought laigely , and this helped to sustain
he maiket.
.lit of Veteran * Itcceutly Iteinenibereil by
the ( Irnornl ( internment.
WASHINGTON , Dec. 2.-Speclal.- ( )
imong the pensions granted , Issue of No-
ember 19. 1891 , were ;
Nebraska : Additional Oscar N. Drown ,
'ekamah , IJurt. Increase Ambrose D. DaIs -
Is , Stamford , Ilarlan. Itclssue Thomas
V. Dottorf , Omaha , Douglas. Original
Idows , etc. ( Uelssue ) Anna Mcllugli ,
leatrlce , Gage.
South Dakota : Original-Wellington K.
I oo re. Clark , Clark.
North Dakota : Original widows , etc.
laryetta Dutterfleld , Valley City. Uarnes.
Montana : nelosue Wlllmtn Oreutzman ,
'bet , Fergus.
Iowa : Original-William II. Meap. Wheat-
ind , Clinton ; Andrew Alt-Inner , Uuttenberg ,
layton ; Thomas J , Scott , Moravia , Ap-
anoose ; Marshal C. Fuller , Bedford , Tay-
ir : Ovid 1' . Welding , Sioux City. Wood-
ury ; Manilas Jeffries , Davis City , De-
itur. Additional Orson O , llotehklse ,
ewls. CBSH. Helnsue James M. McNalr ,
runkvllle. Wlnnenhlek ; Jiuper Williams ,
randvlrw. LouUa ; Kllas D. Allbrlghl ,
hell Hock , liutler ; Henry C. Cllngman
Irceaied ) , Walnut , Pottuwattamle. Orlgl-
ul widows , etc. Susan Cllngmun , Walnut ,
50 dozen hard wood antique finish
DINING CHAinS. with brace arms ,
hand made cane seats , double stretch
era all around , embcssed backs. Reg
ular price , tl.26.
Thanksgiving Pr oo 74c Each
CO dozen massive solid oak , hand
polished DININO CHAIHS , with wide
quarter sawed oak panels , handsome
ly carved and , to match the table men
tloncd above. Hegular pi Ice $2.00.
Thanksgiving Prlco $1.48 Each 1
SIDEBOARDS
One cf the many bargains In side
boards Is described as follows : Con
structed of the best selected oak. It
measures 44 Inches In length by 80
Inches In width ; with bevel mirror
ineusutlng 24 Inches by 14 Inches. It
has n commodious shelf overhead ,
supported by tnsteful brackets appro
priately carved , two drawers with
roomy cupboard below ; the case work
Is all paneled ; the trimmings are
solid cast brass ; It Is mounted on
good castors It Is worth every cent
of )20 , but our
Tha iksgivlng Prlco Is $11,43
From our 3tov > Department
THAT DIHD must be cooked , and
cooked light. To enable you to do It
we make a remarkable offer of just
35 highest grade eastern made Hang-
es , at half price. We thoroughly guar
antee every one , although much be
low the lowest wholesale price.
WE ARE
Complete house furnishers and noth
ing else. Our store Is teeming with
such bargains In household goods as
we never saw. It would well pay you
to look us over , whether Intending to
purchase or not. particularly at this
Thanksgiving time , when all that
careful preparation means In the way
ofassortment , prices and services la
at your disposal. This Is the time of
the > car to help the good wife out.
Use us.
WM. LOTJDON.
Commission Merchant
Grain and Provisions.
Private wires to Chicago and New YorU.
All business orders placed on CiuiMga
Board of Trade.
Correspondence solicited.
Olllce , room 4 , New York Life Building i
'Jmaha. Telephone 1303.
Pnttnuattninle ; Delilah Hhenard , Hartford.
Warren ; Naoma Sccrlst , fcddyvlllo , Wa < -
pello.
I'rorla Crln the Flramen' * Headquarter * .
Tniini : HAUTI : , Ind , . Dec. 2. After two
weeks' deliberation and violin to numerous
cities , the board of ttunices of the Brother
hood of Locomotive Firemen took the first
ballot this evening to remove the headquar
ters to 1'eorlii. It Is understood that Cleve
land received two votes , Terio Haute ono
( Grand. Muster Sargent , through senti
ment ) , the remaining four being cast for
I'eorla. The trufltea claim there will be an
annual saving of 12.200 over the best bid
offered by other cities. The headquarters
will be removed ut cnce.
Overcoat Tlilovei Caught.
In the dressing room at Qermanla hall
last night , while an entertainment wa *
being given , two men were caught who
had stolen from the hooka two overcoat *
and a cup. They were turned over to tha
police and recognized at the jail as Jim Lea
und Kd Wheeler. They are well known 04
pilferers.
TnUei Itelnhurt'i I'liice Director.
GALVE8TON , Tex. , Deo. 2.-At a meetIng -
Ing of the directors of the ( lulf , Colornda
& Santa Fe Knllroad company heie ytcter *
day Altlnco R Walker , one of the receiver *
of the Atchlion road , was eluded prelldrnti
vice Helnhart , resigned , nnd Kdwnrd KlnjJ
of New York as member of the board eg
director ! . '
