The Omaha Daily Bee.
ESTABLISHED JTOE 19, 1871.
OMAHA, PMDAV MORNING, MAY 10, 1901 TEN" PAfJES.
SINGLE COPY ELYE CENTS.
CHINA FACES BILL
tidimnlty Olaim of Six Hundnd ted
BTenty-FiTO Millioni.
OFFICIAL CELESTIALS DISCUSS MEANS
Host of Tbim FaTor Lun Guarantied by
rlfn Powars.
FEW HOPE TO AVOID SUCH COMPLICATION
Chang Ohi Ttiaf B1Utm in KaUinj tha
Money Eluwhtre.
WANTS TO SETTLE IN FULL IN FIVE YEARS
Whiilnrr the locra Hrmnnil Will
lie Only Temporarily OimmmciI,
Merely itn n. Matter
if Form.
TEKIN, May 0. An Indemnity claim of
iR7S.ono.ono will ho presented lo the
Chinese plenipotentiaries this evening. Of
flclal Chlncso throughout tho empire have
been communicating with tho court and gtv
lng advlrc. Moat of them seem to favor a
loan Guaranteed by tho foreign powers
Others, prominent among who Is Chnng
Chi Tung, believe In rnlalng tho money in
every possible way without a' loan and In
paying off the entire demand within flvo
years.
Tho court has considered methods of
raising $28,000,000 extrn annually, nnd pro
visionally approves tho plan: but tho
Chinese plenipotentiaries have Instructions
to obtain a reduction or tno lnneraniiy uu
mantled ns far ns possible
U'hatAVnr Ihn flflllt flcmnnilK nf tho OOWCrS
may be, It Is not believed that tho opposi
tion will bo much more than n matter or
form. Tho ministers of the powers met
this morning and decided that the Cblncso
Bhould bo given to understand thoroughly
that tho amount did not constltuto the
claim, but was the total of tho expenses,
Includlnc private claims considered fair,
nnd was meant more to obtain an opinion
from official sources as to China's ability
to nav. nnd also ns to what means sho
would employ.
CIVIL LIST IS AGREED TO
Honae of Commnna Vote Hliimn
Majority of Three llnnilrril and
Seven In FlftyKiKht.
LONDON, May 0. Tho king, said tho
chancellor of the exchequer, Sir Michael
Hlcks-Bcach, toduy in discussing tho civil
list In the House of Mormons, hud no per
sonnl fortune, n fact which could not be
too widely known. He was therefore do
nendent on tho revenues of tho duchy of
Lancaster and parliamentary grants,
Tho king was anxious for n further In
vestlgnton Into tho Hystcm of manage
incut of the royal-housahold In order to
correct any abuses and wastes. Tho sum
of 110,000 out of tho total of 170,000
which, It was proposed to grant was the
king's privy purc, out of which came the
Bums oxpended as a result of Innumerable
requests for charities throughout the em
plro and oven from foreign countries, nnd
out of which also camo the sums expended
to keep up the prlvnto residences,
The liberal leader, Sir Henry Campbell
nannormnn, supported tho government's
proposals as reasonable.
Mr. John Redmond, tho Irish lender. In
explaining why tho Irish members declined
to supporrt tho proposals, said It was for
three reasons: First, tho Insult to certain
of tho king's subjects In tho accession
proceedings; second, Ireland was paying
double today what It had paid eighteen
years ago, and England was paying '.'3 pe
cent less; the third nnd real ground for th
opposition was that the people of Ireland
wero mocked by n freedom which wns de
void of substance.
Mr. Lnboucherc, liberal, tried to hnv
tho allowance cut down from JC 170,000 to
415,000, tho amount granted to Quce
Victoria and tho prince conBort. This mo
tlon was defeated by a vote of 58 to i6.
Tho civil list was agreed to by a voto o
S07 to 58.
DON'T WORRY OVER MORGAN
IHiiuiHT nf White Star ami Ciiniir
Much Continue llualncaa
an llefnre.
(Copyright, 1900, by Press Publishing Co
LONDON, May 9. (Now York World Ca
blegram Spcclnl Telegram.) Tho man
agcrs of the White Star and Cunard lines
Interviewed by tho World correspondont
today denied emphatically tho story pub
Ushcd In America that they have decide
to Join forccB, not us n consolidation, but
In nn arrangement of sailing dates, from
the states to touch alternately at Liverpool
and Plymouth or Southampton, In order
to compete with lie Morgan-Leylnnd At
Jantlo transport combination. The man
Bgors say that no change of sailing dates
or present arrangements would bo mad
And that Mr. Morgan's plans have not
affected nnd will not atfect thetn In the
lightest degree.
RETURN OF LORD SALISBURY
X'rrmier U Hpcctcd Hack In Loudon
Saturday, hut In III
Health.
(Copyright, 1900, by lJVss Publishing Co.)
LONDON, .May 9. (:ow York World Ca
blegramSpecial Telegram.) Tho state
mcnt is given out tonight that Lord Salis
bury will bo brought back to London by
Saturday, but that ho is not well euough to
resumo work. It is admitted that his con
dition is causing anxiety, as he shows no
recuperative power.
GERMANY IS SOME MARKS SHY
Imprrlnl Sccrrtiiry of Trrnury Ad
mit lrocutlv llctli'lt of
About f U0,000,0l)0.
nERLINY'Ma.y tf. Baron von Thlelmann,
Imperial secretary of the treasury, admitted
to the budget committee of tho Reichstag
today that there would be n deficit for the
next fiscal year of an amount between 70,
000,000 and 80,000,000 marks.
Ilimnlan Vlrw I llrcrlvcil.
THE HAGUE, May 0. Prof. T. M. Asser,
tha Dutch member nf tho permanent arbi
tration court here, has received the brief
presenting the Ruisian vew of the Bchrlng
eea dlepute with the United States.
V Auks Itrlelmtnir to Adjourn,
BERLIN, May 0. Count von Buelow, tho
chancellor, has sent n letter to the Reich
stag asking that body to adjourn until No
yember 26.
PUBLISHER ""ILL NOT DENY
Practically Ail
ULt,.
nn Author-
"V"
ahlp of Hit.
Iiinc l,c
(Copyright, 1900. by Press IUi
LONDON, May 9. (New York .
hlcgrnm Special Telegram.) I'ubii.
Murray was asked toiay by tho world
correspondent whether It was true that
Laurcnco Houainau was the author of "An
ttnrrlUhwnmnn x I.nvn I.ntter " lln to.
piled; "All manner of persons have been
nnmed. Tho latest I have heard was the
king himself. I am under pledge not to
reveal the name of tho author, so regret
that I cannot tell you." .
"Would you object to state that r.au-
renco Houstnan Is not tho author, for the
World Is informed that he has been offer
ing n stnryi to other publishers on the
ground that he Is the author of tho 'Love
Letters?' "
"I must decline to say whether he Is
or not." wns Mr. Murray's reply. "I have
novor seen Mr. Housmnn."
The significance nf this refusal lies In
tho fact that on n previous occasion, when
tho World nsked Mr. Murray whether .Mrs.
Kvr M. Kulchant wns the author, ho de
nied It out of hand. Nothing tho corrc-
spondent could do rould now Induce him
to deny Laurence Houslnan's authorship
and tho correspondent Is convinced that
Iho World's exclusive dispatch on Saturday
last has bolvcd tho most Interesting lit
erary mystery of the day.
APPEAL TO ROMAN CATHOLICS
IneLMOiit Illi- l)lneee lllMhop llecllc-
tlie lleatriictlon of Church, Or
phanage nml Convent.'
JACKSONVILLE Fin., Mny 9. Right Itcv.
John Moore, bishop of St. Augustine, nnd
Very Itcv. William J. Kcnncy, vicar general
of this diocese, have Issued an appeal to
tho Roman Catholic people of the United
Statcii Hnd Canada calling upon them to aid
tho Catholics of this plnce. Tho appeal re-
citcB tho destruction of thu church,
purocblnl residence, orphanage and con
vent, representing a totnl loss of about
$11:5,000, and states thnt In view of the
utter Impoverishment and destitution of
tho Catholics hero, unless thry receive help
from the outside Catholic world, It will bo
Impossible to continue the work of Catholic
progress in this community,
They call upon the Catholic people In tho
United Stutes to help them our in this
great (calamity and nek thnt contributions
be sent to Very Hev. William J. Konney,
vicar general cf thl3 diocese, Jacksonville.
Fla.
Tho fire losses by companies, compiled to
night is nbout as follows:
Liverpool, London & Globe, $310,000; Nor
wlch Union, $287,000; Commercial Union,
$210,000; London & Lancashire, $203,000;
Manchester, $190,000; Aetna, $195,000; Provl
dcncM (Washington), $190,000; North British
& Mercantile, $185,000; Hanover, $158,000;
Hartford, $145,000; Caledonia, $136,000;
Home. $118,000; Western, $116,000; Sun of
New Orleans, $107,000; Insurance Company
of North America, $100,000; Westchester,
$100,000; Springfield, $80,000; Palatine, $S0,
000; Lancashire, $7l,00p; Scottish Union
$70,000; Cerman-Amerlcnn, $65,000; Glens
Falls, $65,000; Phoenix (London), $61,000;
Teutonlu, $61,000; Queen, $62,000: Green
wich, $60,000! American fVblladelphlitf, JDO,
000; Traders, $53,000: Continental, $32,000;
Firemen's Fund, $50,000; Philadelphia Un
derwrltcrs, $4S.000: St. Paul, $44,000; Flro
Association, $42,000; Pennsylvania, $40,000;
Phoenix, $38,000; Imperial, $36,000; Paclllc,
$35,000; Niagara. $33,000; Now York Under
writers, $31,000; Hamburg & Bremen, $30,-
000; Northern, $30,000; Royal, $27,000; Lon
don Assurance, $27,000; Indemnity, $27,000;
Southern, $23,000; American (New York),
$23,000. Sun (England). $24,000; Orient, $23,
000; Phoenix (Hnrtford), $18,000; Georgia
Home, $17,000; German Alliance, $13,000;
Hoynl Exchange, $13,000; Rochester Gcr
man. $10,000; Williamsburg City, $10,000;
Boston, $10,000; Bremen, $9,000; Delaware,
$8,000; Glrnrd, $8,000; Magdeburg, $6,000;
Helvetia-Swiss, Bnlviz anil Svea. $380,000.
BROTHERHOOD IS PROSPERING
Itniluny Trainmen' AnnocIii t Ion Una
llalanee In Iiiniirimcc Department
nml Larue I'roteetlve Fund.
MILWAUKEE, May 9. The featuro of
the convention of tho Brotherhood of Rail
way Trainmen today wns the adoption of
nn amendment to tho constitution creating
tho office of fourth vice grand master.
Grand Master Morrlssoy tonight gave out
a synopsis of his biennial report. During
tho year 18D9 there wcro twenty-ono new
lodges organized nnd In 1900 there were
thirty-two organized, In regard to tho
grievance work Grand Master Morrissey
reportn that the grand officers had acted on
the adjustment of sovcnty-flvo cases, offl
clal action being taken. Theso grievances
Involved sixty-five different railroads and
tho majority of tho settlements were of
udvantago to tho brotherhood in tho rnls
lng of wages, the adjustment of hours and
Improved working conditions. A largo
number of settlements wcro effected by
tho committees and the grand officers who
co-operated with the committees of the
Order of Railroad Conductors and their
grand offlcers In Bevernl cases.
In (he reports of tho grand secretary and
treasurer tho financial statemont shows
tho organization to bo In nn exceedingly
flourishing condition. I'u 1S98 thcro was
shown to hnvo been $1,682,111 rocelved
In tho Insurnnce fund nnd there was $1,419,-
830 disbursed, leaving u balance of $262,2S1
Tho protective fund, which is practically
tho strlko fund, contains $100,S99. Tho
amount in the general fund ts $81,485, which
with the miscellaneous funds' shows n
total of $460,000 standing to the credit of
tho organization.
In two years thore wcro 90.i death elolma
adjusted and 411 disability claims paid,
Tho totul membership is lo.BOO, Bhowlng a
net gain in two years of 12,100 mombcrs.
Owing to tho liberal policy of tho brother
hood on the matter of claims there naa
been very little litigation.
WATCH TRUST IS ABANDONED
AVu 1 1 li a in Ciiiiiiuiiiy Do'llnev to Lcuil
ii llnml, Which t'liuiiKm tin;
I'nve of TIiIiikm.
BOSTON. May 0, A director of tho
American Waltham Watch company says
"Tho officers of tho American Wnltham
Watch company hnvo Informed tho pro
moters of the proposed watch trust tint
that company will not become a party to
any consolidation of watch companies.
Other companies have declined to go Into
any trust movement, so the $75,000,000 com
blnnttou has been abandoned.
MRS. NATION IS OUT OF JAIL
At I.iiKt Council In to Accept Freedom
tinier lloiid. Which Judge
Utile Iteducra to aft ItMI.
WICHITA. Kan., May 9, Through tho
persuasion of her brothor, J. W. Moore of'
Kansas City, Mrs. Cnrrle Nation consented
to leave the county jntl tonight, Judgo
Dale reduced her bond to $100 and her
brother put up cash to that umouut.
ANIILE-DEEP IN ROSE LEAVES
Lot Aagtlsi Women Showtr the President
with Them.
DEMONSTRATION AT SOLDIERS' HOME
Incentive tilled HIkMccii Mile lo
Miles
Siuitil
to
(reel (Mil Comrade lit
.Monica (iiU'K cl
Del .Monte,
LOS ANGELES, May 9. The president
and members of his party rotlrcd In their
trnln tonight nnd will leave nt 5 o'clock to
morrow morning for Del Monte, whore they
will spend Sunday. Stops will be made on
tho way at Ventura, Santn Barbara and S.m
Luis Obispo.
Tim special train carrying Governor Nash
of Ohio nnd his party left tonight for San
Francisco.
i.us a.nui.i.ks, cal.. Mny 9. From n
broad blue canopied pavilion, surrounded
by tho members of his cabinet, the-governor
of Ohio, nnd notnblcs from muny states,
President McKlnlry today reviewed tho
floral parade of tho Los Angeles carnival.
The city was packed to the doors. The
population of Los Angeles, according to the
census, Is over 100.000, but tho streets
must have held almost twice that number
today. Pasadena, Santa Monica and other
neighboring towns In. southern California
were literally depopulated.
Tho scene on Ilroadwny, where the re
viewing stand was located, resembled Penn
sylvania avenue In Washington on tho day
of nn Inauguration parade. Every facade
flamed with hunting, flags and pampas
grass plumes, red, green and orange, tho
colors of tho fiesta prevailing.
Mrs. McKlnley did not witness the show,
but sho drove along Broadway and re
ceived the plaudits of tho multitude Just bc-
foro tho procession nppenred.
I'limom, Sntln nml (inlil llrnlil.
Tho president rodo nt the head of tho
parade In nn open carrlago drawn by six
spirited mllk-whlto horses, with yellow
satin harness. At tho head of each horse
wnlkcd a Spanish cnbnllcro In green velvet
with much gold braid nbout his bolero
Tho carrlago was a mass of white carna
tions nnd yellow coreopsis blossoms. A
troop of cavalry with yellow horsehair
plumes waving above their helmets nnd
wreaths of flowers across their shoulders
nnd blanket rolls of red carnations behind
their saddles, headed by a band playing
"The Stnr-Spanglcd Banner," preceded tho
carrlago of tho chief magistrate to tho re
viewing stand.
As each carriage reached tho revlowlng
stand the ladles In It nroso nnd smilingly
saluted tho president with deep courtesies
Tho president was kept on his feet most
of tho tltno returning theso charming
greetings. Ho apparently enjoyed tho ex
pcrlcnce hugely. Knch lady carried n bug
of roso leaves for uso as confetti and nftcr
saluting tho president she threw n handful
Into his box. Bcforo the parade was over
ho was nnklc-deep in roso leaves.
In tho morning, previous to the floral
parade, tho president and his party were
driven through the roHldco.seUon of Los I
Angeics. i iub niiernoon nn lauics oi me
president's party went to Pnsndcmi and
took n drive thore while the president mado
n trip to the National Soldlors' home near
Santa Monica. It Is eighteen miles distant
and ho made tho Journey In electric cars
Threo thousand of the president's old com
rades of the civil war greeted him there.
Tho old soldiers gave tho president a re
mnrkablo demonstration. He wns Intro
duccd by the governor at tho homo nnd
spoke.
Upon his return to Los Angeles late this
afternoon tho president received Governor
Nash and tho Ohio congressional delegation
at tho hotel. There was no public function
In the evening. The president nnd Mrs
McKlnley dined nt tho residenco of Homer
Laiighlln.
Ono of the most notable Incidents of the
day was a visit paid by President Mr.KIn
ley to Mrs. Jessie Benton Fremont, widow
of Genoral John C. Fremont.
Mrs. Fremont wns Injured In an accident
nbout n year ago, slnco which timo sho
hnB been an Invalid. The president spent
n quarter of nn hour In conversation with
her at her home.
MEETS IN OMAHA NEXT YEAR
t-triiftUii Grauil Army Kncnninmeiit
I II n t it 1 1 m XimvI j'-Klcctcil
OtllCITH.
PLATTSMOUTH, Neb., May 0. Tbo Nc
braska Grand Army enenmpment concluded
Its session tonight after solectlng Omaha
as next ear's meeting place. Department
olllcers wcro elected nnd Installed by Na
tlonal Commander Rassleur as follows:
Commnndcr, R. S. Wilcox, Omaha; Benlor
vice, C. V. Steele, Falrtniry; junior vlco,
J. It. Mnxon, Mlnden: delegates to national
encampment, l). Hnverly, Omaha: L. D.
Garner, Lincoln; J. L. Packard, Knox
county; O. S. Peters, Bentrlco; William
Foster, Superior; Joseph Brooks, Unlver
slty Place; B. S. Cooloy, Waverly; P. D,
Pine, Ashland; W. S. Schwab, Sutton.
Tho Woman's Relief corps also elected
officers, headed by Mrs. Aunn E. Askwlth of
Omaha as president.
KNIGHTS AT KANSAS CITY
Huiirriiip Olllcrm of the I'ytlilnnn Stop
OIY AVIillr on Tour of
'iiNiiet'tlon.
KANSAS CITY, May 0. Supreme officers
of tho Knights of Pythias, on a tour of
Inspection of lodges In tbo larger cities
of the country, wero tho guests of local
Pythlans today, stopping off on tho wny
to thu Paclno coast, They were Supremo
Chancellor Ogdcn II. Fethers, Major Gen
ernl James R. Carnnhan of the uniform
rank, and C, F. S. NenI, president of tho
board of control of tho endowment rank.
All the khlghts of the two Kansas City
2,000 In number, turned out to welcomo the
visitors, meeting them at tho dopot nnd
lorming nu escori to mo noiei. Mter n
formal reception was glveu at tho hotel,
followed by a drlvo about tho city. To
night a set program will bu arranged,
Chancellor Fethers and Major General Car
ualian addressing tbo knights,
MAKES THE COPPER MEN WAIT
Vli'o C'liiiiiiTllnr ItrKrrvc Uim'InIiiii In
.Vi tl lout I u ii for Injunction AKnliiHt
A in n I K n in n t '! Co in p ii ii y.
NEW YORK, May 9, Arguments In the
nctlon of Calvin O. Geer and others to re
strain tho Amalgamated Copper company
from absorbing tho Boston and Montana and
Butte and Boston Mining companies was
heard In Jersey City bcforo Vice Chancellor
ritney in chambers toduy, Tho application
for the Injunction was made on tho ground
that the prices It waa proposed to pay for
tne Boston and Montana and Butte nnd
Boston properties wcro excessive. At the
conclusion of the arguments Vlco Chancel
lor Pitney announced that ho would re
servo his dccUloa.
condition of the weather
Forecast for Nebraska Showers Friday,
with Cooler In Western nnd Northern
Portions: Saturday Fnlr; Southeasterly
Winds, Becoming Northwesterly.
Temperature nt
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STREET IS STILL IN DOUBT
Kiiltu, l.nrlt A. u.N l.nlrnt State
ment Lent en .Speenlatorn to titirsN
Whnfn CoiiiIiik.
NEW YORK, May 9. Night closed upon
this eventful, trying day without definite
settlement ns to tho Northern Pacific, tho
central flguro In the llerce otngglc that
had been waged on Wnll street for hourj.
It was anticipated that there would be nn
agreement for settlement with the short,
but it was evidently not finally concluded.
Shortly utter tho market closed It was
seml-oQlclally Announced thnt n basis of
settlement had been practically agreed upon
nnd that It would bo clinched before night
fall. At 5 o clock, however, Kuhn, Lncb &
Co., whom the street accepts ns masters of
tho situation, announced tbnt nothing could
or would bo said as to tho Mock thnt
day. Thcto was a spirit of compromise nnd
conciliation in tho air, but until it should
bear the fruit of dcllnito rttlement tho
situation In Northern Pacific was felt to be
a menace to tho whole market. Kuhn,
Lncb & Co., nnd tho men enlisted with
them tu tho Harrlman syndicate, scent dla
posed to a reasonable peace aud on tho
outaldo tho strongest influences of the fi
nancial world nro moving determinedly for
a financial truce that will protect tho mar
ket, avert panic and restore confidence.
In addition to nu arrangement with the
shorts it Is believed that the settlement of
the fight will also Involve tho future rela
tions of tbo Union Pacific, Northern Pacific,
Great Northern and Burlington. Men close
to tho Harrlmun-Kuhn, Loeh & Co. group
Insisted that tho deal for tho sale of the
Burlington to tho Great Northern would be
carried through. Granting that Harrlman,
Kuhn, Ioeb & Co., aud their associates, nro
dominant In Northern Pacific, It Is as
sumed thnt they will claim and win a volco
In tho future of tho Burlington. It is be
lieved that the settlement with the shorts
lu Northern Pacific will bo made at 200 or
under.
Kulin, Lorli A Co. In Control.
Kuhn, Loeb & Co. say they deprecate tho
policy of tho third Interest In taking enor
mous profits from the shorts nnd their
friends avow regret that outsiders suffer,
A settlement with the shorts would clear
tho situation materially, but there would
still remain the greater problem In railroad
politics of tho futuro of tho rou I ts-lf On
that point tho following statement from a
member of the Harrlman Hyndlcatc Is ulg
nlilcant:
"Northern Tnc it? is In control of Kuhn,
Loeb & Co. Tho only thing that can affect
this control will bo the postlblo Inability
of certain . pcopV-jo delK .r , hi stock to.
them." 'jTrrSiorgah & Co. nre in the sara'a
position."
Tho struggle of tho financial giants which
broke tno most remarkable movement that
American stocks havo evor bad dates back
but a fortnight. E. II. Harrlman and his
associates, so they relate tho story In tho
street, discovered that brokers representing
J. P. Morgan & Co. wcro buying Union Pa
ciflc. Harrlman nt onco began increasing
his own holdings, buying on a market that
rapidly advanced, nnd when sure of control
submitted n proposition for Bonie basis of
agreement as to tho control of tho Burling
ton, Just acquired by tho Great Northern
and Northern Pacific. That offer was re
Jccted.
Ilnttlr for Stiprcntncy.
On .Monday last there began a sensa
tional movement In Northern Pacific nnd
the public got tho first intimation of thu
battle for supremacy. Street & Norton
took all of the stock they could get, seem
Ingly without regard to price. Much of tho
stock sold to them was for short account
nnd could not be delivered. It developed
finally that thcro were three largo Inter
ests In the property, two seeking Its man
agement and the third a speculative profit.
Both tbo Harrlman syndicate and the Mor
gan-HUl Interests claimed control nnd tho
predicament of tho shorts was mado worse
by tho fear of both tho Harrlman and Mor
gnn syndicates to lend the stock to tho
shorts. It was this fear that led Kuhn,
Loeb & Co. of the Harrlman Interests to
seek nn understanding with Morgnn & Co,
as to the lending of stock to shorts. To
havo loaned without an understanding was
to court tho danger of losing the stock
nnd possibly the dearly-purchaBed oppor
tunlty to control.
Tho shorts learned yesterday that they
wero sovorely cornered nnd made frantic
efforts to secure stock, The movement
for their relief began last night, but the
failure of tho leaders to agree left thom
n desperato straits. There was somo
consolation in tho extension of time for
delivery, but that after all was morcly
deferring tho reckoning. Kuhn, Loeb &
Co. this morning renewed their offer to
loan tho stock they hold, but It was stated
that tho Morgans for somo reason did not
care to enter tho compact. The reck
oning Is to come tomorrow, and, despite
tho promising features of the closing hours
today, a doubt lingers as to the offect of
tho Northern Pacific situation upou the
whole market tomorrow,
EXTENT OF DAY'S DECLINES
Stntlxtlcnl Tnlilc SIhmtIiik Shrinkage
In Stock 1'iicea When l.oiv
Murk AViih Itcnclicil.
NEW YORK. May 9. A statistical re
view of the transactions In tho stock mar
ket today shows that at low water mark of
prices, forty-one points, stocks had shrunk
to the tremendous figures of $CJS,3S8,I07.
This shrinkage, however, is largely offset
by tho recovery of the market towards tbo
close. Taking some of tho prominent stocks
and applying them to tho low-price calcula
Hons gives tho following showing: Amalga
mated Copper, with $75,000,000 of stock
outstanding, declined 2G points and tho de
preciation was $19,500,000; Atchison com
mon, $102,000,000, 35,4 points, $35,955,000;
Atchison proferred, $111,199,500, 28 points
$32,689,750; Chesapeake & Ohio, $60,533,100,
18 points, $10,896,012; St. Paul, $17,118,600,
31 Ints, $11,851,600; Rock Island, $50,
000,000, 33 points, $16,500,000; Delawnre &
Hudson, $35,000,000, 60 points, $21,000,000;
T .Ill- K..I.I.11a tr.o CAn AAA AM ,
KUUiaVIIIU Ob .MIBIMtllO, fy.(DUV,UW, -O Vi
points, $13,860,000; Manhattan, $18,000,000, 37
points, $17,760,000; Missouri, Kansas &
'Texas, $55,181,000, 22
points, $12,139,820;
Missouri Pacific. $117,507,000. 31 points,
$13,727,170; Now York central, $115,000,000,
13H points, $15,237,600; Southern Pacific,
$197,832,100. 20 points, $39,666,120; Union
Pacific, $95,978,500, 37 points, $35,532,015;
United States Steel, $550,000,000, 2 points,
$119,625,000; United States Steel, preferred,
$550,000,000, 29 polsts, $159,500,000.
WALL STREET
v
BASIS Of PEACE PREPARED
With tlio flosliiK of n frenzied tiny on Wnll street the lenders of
the tlntiuelnl world devoted Inst nlsht to a scries of eonferenees In
tended to nvcrt dlsnster.
It witH seen curly In the dlsettsslon thnt nothing eonld prevent
the eonstiininntlon of the llnrllnton deal; thnt it wns Indeed ill
rendy an assured faet. and thnt .1. 1'. Morgan & Co. and .1. .1. lllll
had come out on top In thu frantic light to control Northern I'taille.
The effort of the railroad world 1 holt resolved Itself Into n
search for a basis of peace, and terms were arranged, though not
made public, giving assurance of a settlement of the. railroad dif
ferences In the west and promising to protect the Interests of the
Union I'acltlc, Hock Island nml St. Paul lu I he accomplishment of
the alliance of the Hurllngton, Northern Paclllc and flreat Northern.
While the railroad magnates adjusted these matters bankers
nnd brokers tried to smooth out their worries and prevent thu heavy
failures that were threatened In the street. .1. P. Morgnn & Co.
and Kuhn, l.oeb & Co. dually tirrnnged to let tint Northern Paclllc
to shorts today at ?1W, though much higher figures had been
pledged during the madness of the squeeze. This action, coming
on toil f the banks lending millions at (I per cent, Indicated thu
general desire to ease tho market aud prevent a repetition of lllack
Friday.
Among the contradictory minors of thu night came thu report of
W. K. Vnnderbllt'H return to town and thu prophecy that this
meant a radical change lu thu railway deal.
OMAHA SPECULATORS CAUGHT
Oraih in Wall Btrcit Carries W t Several
Local Operatori,
WILD SCRAMBLE FOR THE READY CASH
T ii in til I ii K I'rlccN Force the Oncrntora
to Hypothecate All Avnllnlilc
Securities tu Cover nml Pro
tect Their MarKln.
Tho panic in Wall street found an echo
on tho local Board of Trade yesterday morn
lug and tho apartments of every commission
llrm and bucket shop In tho Commercial
building were tho scene of unusual excite
ment. Early In tho day, when word enmo
from New York that Northern Pacific had
Jumped from 155 to 1,000 ar.d dropped again
to 600 within a few hours, and that other
stocks wcro performing equally erratic
stunts, tho bucket shops for sako of self
protection closed ugatnst all speculation
save on a cash basis. The proprietors went
OHt'oMboibucket Bbop'hiulucsn.. v. .
Holders of Union Pacific stock wore hit
the hardest, shares going down from 135 to
80 slnco Wednesday, As tho lower values
wero storied In the morning the demand for
money to protect mnrglns becarao actlvo and
within un hour It Is said at least $1,000,000
In securities wcro oltcred to tho local banks.
In fcomo cases they were taken for varying
amounts, several parties borrowing from
$10,000 to $25,000 to protect their margins.
Later in tho day these parties were called
upon for tnoro security nnd every avallabto
asset was hypothecated to protect loans
which wcro considered good yesterday.
Money Una WIiirn,
From time to time, as the telegraph
operator listed a new price, tho quotation
was questioned and the accuracy of tho
report denied by men who saw their fast
mado fortunes of last week taking a yet
more rapid flight. At James K. Boyd's
office tho operator listing shares finally
declared that If every report was to ho
questioned ho would refuse longer to mako
quotations on the board, and tho mass of
pcoplo who wcro watching hlra bucamo
quiet.
In the other offices It was a repetition of
the same scenes and at noon the excitement
was at Its height. ,
Conservative person who have followed
tho operations estimate that at least $1,-
200,000 has been lost by Omaha speculators
at home and In Chicago by the present slump
In tho market, If a recovery ts not made
In ttmo to protect thoso who have been
ablo so far to Increase margins as the oc
caslon demands.
It Is currently reported 'that several woll
known parties have been hit very hard, ono
of them being crodlted with having lost
$100,000 In the last twenty-four hours, wltllo ,
others havo lost from this sum down to
$50,000.
CLAIM CRISIS IS PASSED
Hanker mid Induatrlat Lender Aert
thnt l'Mnnnclnl Storm Una
'Spent Ita Fury.
NEW YORK, May 9. A banker who par
ticipated In tho movement to relievo the
market this evening made this statement to
the Associated Press:
'Wo loaned $1,000,000 In the street after
10 o'clock today, somo of It as low as 6 per
cent, and feel that the crisis Is over. I do
npi believe that u single large house will
go down. There havo bocn tremendouB
losses. Thousands of accounts, represent
ing millions of dollars, are wiped out. But
the banks are firm and the largo operators
are, I think, capable of caring for them
selves. You sco, thoy havo been taking
largo profits and aro capable of standing
up. At present prices i icei mat mocks arc
a gooa luvcsimcni, una iooic ror neavy
buying orders. A good day and tho mnrket
will be steady again. Tho banks acted to
gether today, but thero was no consonance
or agreement about It. We placed about
$16,000,000 In tho aggregate and tbo moral
effect was good. Wall street could not
stand many days like this, but as "It is tbo
storm is weathered and the tltuatton wll
Improve from tne opening tomorrow."
An Industrial leader made thu statement
to tho Associated Press;
"I bellevo the worst of tbo storm is over.
Thero have been conferences of Importance
among tho larger financiers and It has been
decided that every man of stundlng In the
street shall bo protected. I had thought
there would be failures, but there aro In
fluences strong enough to avert at work
and I am sure now they will succeed. I
look for buying orders and a rally in tho
market. There will also be peace among
the Intersts now at war."
MONbY A I 3fAlT rtn CENT
Xmv Yorkera Who Have Arnlluhle
I'unitn Demand High Price
for It.
NEW YORK, May 9. 1:
Is bid for money.
10. Sixty per cent
RECKONING
hi
HI
t
0
TO PROTECT WESTERN ROADS
MchllT, llnrrliiiuii nml .ioulil Will
tStinrit Thetn lu the 1 1 ii rl I un
to it Ileul.
NEW YORK, May 9. A confcrcnco wa3
held In Kuhn, Loeb & Co.'s ofllcc this aft
ernoon between Jacob II. Scblff, E. II.
Harrlman nnd George J. Gould. No official
statement could be obtained, but It was re
ported that a settlement of tho railroad
differences In the west had been nrranged
and that assurance would bo given lo tbo
Rock Islnnd, St. Paul nnd Union Paclllc
companies that their Interests would be pro
tected In tho Burlington-Great Northern
Northern Pacific alliance
WALDORF-ASTORIA CAMPFIRE
SolillrrN o'f I'Miiimee ,nre Their
Wiiu inN nml HccKon Upon
the I'll t lire.
NEW YORK. May 9. Tho lights of the
Waldorf-Astoria wero the camptlrcs tonight
of hundreds of soldiers of finance, who were
on tho ilrlng lino in Wnll street today, and
aSjJJjojyiatJil ahe,chcory gloWfthoy nursed
thelrwoundV"an(r counted th'elr dead. The
casualty list was a long ouc, but the night
hnd more choer than tho preceding one.
There was no wild scramble for over
night loans of Northern Pacific stock," nnd
tho new day seemed to bo fair In promise.
There was Intense relief at tho promised
succor of tho Northern Pacific shorts. It
was accepted as a foct that Kuhn, Loeb &
Co., and J. P. Morgan & Co. would settle
for 1G0, and It U believed that tho action of
thoso two great houses would fix the price
for cvorybody. Tho price. It waa genernlly
ngreed, was a fair ono. Tho rumor that J.
P. Morgan & Co. nnd J. J. Hill were, after
all, on top In tho fight to control Northern
Pacific stirred tho crowd, but tho chief
concern wns for the future of tho market.
As to the latter a vory hopeful view gen
erally prevailed. John W. Gates dispensed
cheer. '
"Tho mcdlclno has been hard to take," ho
said, "but it has done good. There wns
too much speculation nnd It had to bo
checked. Thoro will bo heavy buying orders
and tho mnrket will rnlly promptly. This
Northern Pacific settlement will clean
things up. Tho bnnks saved the day and I
feel quite suro thcro will be no failures of
any size."
Mr. Gates would not discuss his porsonal
losses, but told a dog story that was elo
quent In expression. "I know a young man
In Youngstown," ho said, "who had a poor
yellow purp. Well, that dog was kicked so
hard and so often that he walked sideways.
I am walking sideways."
James R. Keeno wns in evldenco early
and a dozen men credited him with Iho
statement that tbo Northern Pacific shorts
should havo paid $4,000 per share. Ho de
clined to talk for publication, however.
Thero wns much speculation ns to tho
effect of tho roturn to Now York of Wil
liam K. Vandorbllt and It was predicted
that thero would bo a radical change In
railway consolidation plans. Friends of tho
Harrlman syndlrato vowed that the Mor-gnn-HUl
program would never bo carried
out.
OMAHA THE NATURAL COURSE
When llullroada Seek to Divert Traffic
from national Channel Crnah
la Hound to Come.
NEW YORK, May 9. Russell Sage, when
seen tonight at his homo nnd asked his
opinion of tho ntock market, said:
"I havo been associated Intimately with
transactions In Wall street for half a cen
tury nnd I can truly say that tho last two
days havo been the most remarkablo I have
over seen. Fictitious nnd Inflated values
havo prevailed and tho smash that was In
evitable has come. I knew it would come
and predicted It. Truo, thousands will go
to tho wnll, but that Is only nn Incident
In tho fight.
"This whole thing got Its origin In an
effort to divert traffic from its natural
and central course toward tho west, In
Omaha, to the northern route an un
natural route. Yesterday (Wednesday)
was absolutely unprecedented In tho his
tory of tho financial world.
"Howovcr, I do not anticipate serious
results. By tomorrow (Friday) things will
havo begun to settle nnd the general com
mon sense of people will put things to
rlchts. The prosperity of tho country Is
too great to permit of this crash affecting
us seriously."
GREAT NORTHERN'S INCREASE
Fllea Certltlcnte in Mlunesotn
Tnenty-Flvc Million More
Cnpltnl Stock.
for
ST. PAUL, May 9. The Great Northern
railroad today filed with the secretary o
state tho certificate of tho Increaso nf $25,-
000,000 In Its capital stock. The fco to the
state was $125,500. Tho samo certificate
was filed with the county registrar of
deeds.
COMES TODAY
Frantic Detliigs on Stock Eichangi Olou
with DonbU fir the Morrow.
LEADERS CONFER ON SENTENCE OF SHORTS
Will Annunc Todnj Thtir Willuijnm to
Bettl at $160.
GET LITTLE STOCK, EVEN AT THAT FIGURE
Friedom from Contr&oti ii th Moit Thtir
Premium Will Bnj.
MORGAN AND HILL COME OUT ON TOP
Thj Control Northun Poifio AbtoluUlj
in Midit f Fanic
BURLINGTON DEAL ALREADY ASSURED
llcltilla of the Merucr Are Impeded
to He Mnde l'nlillc Todn) Chief
Concern In for the Future
of the .Mnrket,
NEW YORK. May 9. Bitter strefs de
veloped In Wall street by tho second hour
of trado on the Stock exchange today. Th
vlolenco of the commotion had spent much
of Its force, nt least for the tlmo being,
when tho chairman's gavel fell, announcing
tho close of tho day's proceedings. Tho
casualties wero great and tho field of bat
tle wns strewn with tbo wounded, and
maybe with the dying. But of actual fatali
ties none wero recorded of Importance dur
ing the day. During thu height of tho
panic rumors of Insolvencies were handed
about more quickly than they could bo
reported. But no confirmation could bo
had of tho Intimations of financial wreck.
Thoso against whom tho rumors pointed re
fused even to show any signs of distress
nml professed themselves ready to meet all
obligations. In tnoro than ono Instance tho
answer to these rumors wns for a repro
sentnttvc of tbo house to go upon tha Stock
exchange and plnce loans to n largo amount,
as Indicating tho abundanco of resources
nt hand.
But notwithstanding these and similar
devices for keeping up credit and conlldonco,
tho fact was obvious from the crash of
values on the exchange that credits nnd bor
rowing power wero shrinking at too prodig
ious rato not to leave the mind of tho
wholo financial world in a condition of In
tense strain. But tho Indications at tho
close of tbo day wcro strong that the prin
cipal damage had been wrought upon tbo
speculative class or upon holders of se
curities on margin, for whatever purpose,
Tho banks hnvo been so well protected by
recent extensions of, tho margins exneted In
the markot Vulue of nollater(il ,ovor1be
imount of loans placed that thoy had llttlo
'.o fear short of on absolute wiping out of
market values. Tho shrinkage of collateral
rondo It necessary for the banks In many
cases to exact additional collateral during
the day and this added much to tho dis
tress tor a time.
Dnnka to the lieacue.
But lato in the dealings the principal
banks In tho financial district agreed to
form a pool nnd ralso n fund to loan, put
ting the money rato down to 6 per cent on
tho Stock exchange. The bid for rooucy had
been run up to 60 per cent and was threat-
onlng to keep nllvo tho panic. Tho dozen
banks quickly came to an agreement to
raise $16,000,000, with implied willingness
to advance the sum If necessary.
There wero heavy loans placed also by In
dividual banks, ranging In some eases to
$25,000,000 nnd $30,000,000. Through tho
early part of tho day bankers oxacted tho
market rato for loans. But with tho grow
ing need to suppress tho panic thoy offered
tho rato down to 6 per cent. Old cus
tomers of tho banks wero not charged over
6 per cent at any time, but when outsldors
camo In nsklng for new loans, the law of
supply and demand was allowed to run Its
course.
Tho stato of excitement was very appar
ent nil through tho financial district during
tno period or tho panic, but thoro were few
sensational scenes. Now and then a white-
faced woman would poor from n cab outsldo
a brokers omco and would bo driven off
In n fainting condition after receiving a
messago from tho Interior. Wherever any
near approach could be mado to a ticker
or to a board on which quotations wero
posted, thoro wero great throngs of excited
speculators scrambling for a view of tho
course of tho market. But tho real stress
of tho occasion camo upon tho men who
wero shut up In either their private offices
or those of brokers, or who worn struggling
and fighting on tho floor of tho exchange.
From Opulence to Poverty.
Tbo outsldo country could obtain llttlo
Idea of tbo actual occurrences on tbo ex
change, as tho brokers nre remoto from
the public galleries In their temporary
quarters In tho produce exchango nnd aro
half shut off from view by tho sixteen-foot
wall. In tho brokers' offices many mon snt
who wero reduced to nbaoluto ruin as a
result of fifteen minutes' proceedings on
the stock exchange, Somo of these have
been made opulent within a few weeks past
as a result of the unparalleled rlso In
prices. With tho truo gambling spirit they
havo roplncod all tholr winnings In new
ventures on each successful turn. Today's
drop therefore wiped them all out. In many
cases one could seo tho gamblers' fortitude
with which tho chances of goln wcro ac
cepted. But the glittering attraction of
this markot has brought Into It a con
stantly Increasing assortment of more stnld
nnd Inexporlcnced speculators. Men nnd
women who hnvo brought long-standing
boards from secret places nnd from savings
bank deposits with tho determination to
mako ono successful stroke nnd then retire
with tho proceeds. The demonstrations
from this class, which Includes many
women speculators, furnished the hysterical
scenes and sensntlons of tho day.
All classes of employes In tho stock ex
chango district wero under tremendous
pressure throughout tho day. Tho Impres
sion produced by contact with thoso was
due to their coolness nnd norvo trader the
most trying nnd exciting circumstances.
Brokers, messenger boys, telephone boys,
clerks and tho llko havo learned during
tho last fow weeks to waste llttlo tlmo in
demonstrations. They do things In tho
quickest and shortest manner and so made
things go smoothly today nt n period when
lack nf rnlness might have meant disaster
to many persons.
t tut I ii ii a Clniida Appear ICuiiy.
There was a strong reeling this morning
before proceedings bad commenced nu tin
Stock exchange that a panic could he
averted only by the strongest measures
and with tho greatest difficulty, Tho fact
t
