THE OMAFIA DAILY BEE: TnUIISDAY. SEPTEMBER 22, ISO.
The Omaha Daily Dee.
E. ROBE WATER, EDITOR.
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THE BEE FCBLISHINU COMPANY
STATEMENT OF CIRCULATION.
Btnto of Nebraska. Douglas County, ss. :
Goorpe, B. Tr.m I uck. nacretaiy of The Pee
Publishing company belns di'ly sworn, says
that the octiMl nuri ber of full and complete
copies of The Pallv. Morning. Evening and
Sunday Hn printed during the month of
August, VJOi. was mr. follows:
1 sn.rtno
K an,.io
I 'M.M.
1 zn.tinc
4 JTO.DOO
I iru.or.o
32.TSO
1 2(I.T3(
sn,stt
is ai,4o
J9 u,.iw
20 vu.aoo
21...
22...
23...
24...
25...
26...
C7...
28...
2S...
80...
...
...20.40O
...2i.noo
...2M,oO
...2S.040
....zu.sio
,...Jrn,sV
....29 480
....2t.14(
....2U.BOO
...2U,23U
...2U.100
...80,000
...2T.1UO
...2l),2S0
...20,440
...20,210
10..
11..
12..
13.
14..
IS..
..2t,8.'iO
111 20.2SO
Total ooi.nso
Leu unnuid and returned coplea... 7,230
Net total aales HUl.ru
Dally aeruge 28.020
GEORGE B. TZSCHUCK.
Subscribed In my presenc and sworn to
before me thla Sis; day of Augus laH.
(Stul.) N. B. HL'NGATE,
Notary Publlo.
In toe impending legislative eampulgn
in Donglns county the man afraid of bis
record had better take to the woods.
Bryan is to open the Nebraska cam
paign in South Omaha within a few
days. Every cloud has its silver lining.
When the council has disposed of the
electric wire menace it will be in order
for It to grapple with the smoke nui
sance. We are still continuing to pave North
Sixteenth street with the same material
that is said to be used in the pavement
of sheol good Intentions.
It Is now a foiegoue conclusion that
Congressman Hitchcock will be renom
inated for the position to which John
L. Kennedy will be elected.
AO inspector general has been ap
pointed for the Russian army. If he
hurries to the front be may And at least
the remnants of an army to inspect.
A hatpin with a head bearing a min
iature automobile is one of the latest
novelties on the iuarket--a sort of col
lection of deadly weapons, as it were.
- Since assuming the position - of
'apostle" Elder Dowie says he will be
come "meek and humble." The elder
has evidently confused certain biblical
roles.
King Peter of Servia is crowned. The
other aspirants for the Servian throne
now have a fair field and no favor ex
cept as their dynamite may be the itaore
powerful.
1 a
Navy department officers have been
requested to edit their reports so they
may be read in foreign countries with
out giving Information of value to a
possible enemy. An official naval editor
should have the call.
Five new members of the Board of Ed
ucation nre to be elected on the 8th of
November and taxpaylng citizens of all
parties nre vitally concerned in the char
acter of the men who are to manage the
affnlrs of this school district.
The ordinance reducing telephone
rates has been put to sleep by the city
council and the ordinance submitting
the 'proposition for a public lighting
plant to the voters at the coming elec
tion still rests in the pigeonhole.
The harmony which exists between
democrats is aptly illustrated by the
New York World, which on Monday
contained a two-column "roust" of
David B. Hill and not one word In com
mendation of either Parker or Davis.
The campaign of 1004 at the Amer
ican beet sugar factory at Grand
Island has been opened and will con
tinue without Intermission for ninety
days, whether Mr. Oxnard is elected
United States senator from California
, or not.
eTT - .
The head of the weather bureau de
nounces the amateurs who make "long
range forecasts," by which he means
forecasts not bearing the government
label. It is now up to the bureau to
abolish the guosebone aud corn-busk
prognostics tor.
Senator Henry. M. Teller presided
over the democratic stato convention in
Colorado. It is strange how the sena
tor discovered the error of bis entire
previous life through failure of the re
publican convention of 1890 to endorse
free silver.
Judge Wade is running his campaign
lit the Second Iowa district oil the
theory that the district Is nnturally dem
ocratic. When the republicans who
voted for htru last time for personal
reasons realize the force of this claim
Iowa's deUgutkui at Washington will
dUtuitfJot; rain, be solidly republican. .
nnosKVKLra work ran rcxcE.
Is President Ho:iseveit In favor of
peace? The answer to this Is to be
found In every utterance of the presi
dent and in every d "clarntlon which he
has mad" of pubii end a semi public
nature. No more, outrageous charge
could be made ago Inst President Hoose
velt tlinn that of the democrats that he
Is In favor of a military ' policy and
would commit this country to a great
armament. There Is not a single net
or sncgestionj in bis whole career that
Justifies such a conclusion, but on the
contrary everything to show that he Is
opposed to an excessive army and navy.
What President Roosevelt has advo
cated, and what every good citizen be
lieves to be necessary, is a navy and au
army which will be adequate ln.nn
emergency and will be always prepared
for whatever demands may he'mnde
upon It. Does anybody question the
wisdom or expediency of this? We do
not think so. We believe on the con
trary that every citizen who thinks on
the subject at nil Is of the opinion tlint
this great nation should do nil It can to
pnnect. itself nn!nst a fornign foe nnd
to make Itself sectire from attack from
whatsoever source It might come. That
is the absolutely legitimate policy of n
niilion and the failure to do It Is Inex
cusable. It has been the policy of the repub
lican party, from the very beginning of
Its existence, to take care of nil the In
terests that were exposed to a foreign
foe. The finest tribute paid to President
Roosevelt Is that of a lending French
statesman conspicuous for his work in
the cause of International pence, In
which he says that better thnn anyone
the present chief executive of the
I'nited States lias contributed to the
cause of Internationa! pence. No greater
encomium could be uttered in behalf of
the chief executive of this republic than
this of the man who Is at the very head
of the p.n'linmentnry tinlon of pence and
arbitration. It Is a compliment to
Roosevelt of the very highest merit.
THE WATER WORKS PRIMES.
No. 1. Iu 1881 the city of Omaha, act
ing under the provisions of the charter
for cities of the first class, lilch author
ized the mayor nnd council to contract
with any individual, association or cor
poration for the erection, establishment
and maintenance of water works on such
terms as might be mutually agreed
upon, entered into a contract with Sid
ney E. Locke and his associates for the
erect I an of a system of water works un
der plans prepared by J. D. Cooke, an
expert hydraulic engineer. The ordi
nance granting the franchise to Sidney
E. Locke and his associates bound the
city to pay for at lenst 250 hydrants at
a rnte of $84 a year, and for all addi
tional hydrants at the rate of ?f!0 per
year, nnd also fixed the maximum rates
to be charged to private consumers.
No. The contract between the city
of Oma'.ia and the water works company
extended for a period of twenty-five
years fromthe date of completion and
acceptance of the works, with the pro
viso that at the end of twenty years'
time from Buehdate the city of Omaha
was privileged to purchase the works at
an appraised value without allowing
anything for the franchise, the appraise
ment to be mnde by three expert en
gineers, one to be appointed by the city,
one bj' the water company, and they to
choose the third.
No.. 3. Soon after the completion of
the works Sidney E. Locke and his as
sociates transferred the property and
franchise to a corporation known as the
American Water Works company, and
that company continued to own and op
erate the works until 181)2, when the
company wns thrown Into the hands of
a receiver and the water w;orks plant and
franchise were finally soid under fore
closure proceedings to eastern capital
ists, who organised the Omaha Water
company, which now owns and operates
the works. ,
No. 4. The validity of the contract
between the city of Omaha and the wa
ter works company has been tested sev
eral times in the federal courts, and the
courts in every instance have pro
nonnced the contract valid. The last
test was made immediately after the
purchase of the works by the Omaha
Water company, when the city refused
to pay its hydrnnt rental on the plea
that the transfer of the works to a new
corporation without the consent of the
city did not enrry with It the franchise.
This contention was declared baseless
by the court, and the city was ordered
to pay the rental In full, with 7 per cent
interest, and the costs of the suit.
No. 5. In January, 1003, before the ex
piration of the twenty-flve-year purchase
period, the compulsory water worlds pur
chase bill was railroaded through the
legislature by Senator R. B. Howell and
Representative D. W. Gilbert, with the
sanction and in the interest of the wa
ter works company, whose owners in the
east weue anxious to unload the works
upon Omuha at a time when the price of
Iron, machinery and labor was at high
water mark. This bill was put through
under whip and spur, and within a few
weeks thereafter the potential Influence
exerted in its passage through the legis
lature secured the passage through the
council of an ordinance declaring In fa
vor of the purchase under the three
appraiser plan, arid shortly thereafter
the city appointed its appraiser, the wa
ter company followed suit, and the two
engineers chose the third.
No. 0. The appraisers thus appointed,
and entirely unrestricted as to time or
mode of procedure, have, after much
delay, Indicated that tbey would com
plete the appraisement by the middle of
October or sooner.
No. T. Six weeks ago R. B. Howell,
who was foisted on the water board
through the same mysterious influence
that inspired the compulsory purchase
bill, engineered a resolution through the
water board asking the mayor and conn
cil to reduce the water rates to private
consumers, well knowing that the rates
were fixed by the contract twenty-three
years ago, and could not be changed by
any city ccunclt or legislature during
the term of that contract, and that the
enforcement of such rates would Ik re
strntned by the courts If the attempt
was made.
No. 8. The pretext under which How
ell's resolution for rate reduction was
Introduced and passed, ns explained by
him. wns. first, th.1t it would deprecinte
the value of the plnnt now under ap-pnisemt-nt
by reducing the buonie, and,
second, that It would expedite the ap
prn!sement. City Attorney Wright has
orer his own signature pronounced any
nttt-ir.pt to reduce the valuation of the
works under appraisement as In conflict
with the decisions rendered by the
T'nlted States supreme court, and. fur
thermore, lias pronounced as Inadvis
able, in view of the status of the ap
praisement, any attempt on the part of
the mayor and council at this time to
chnngo the rates.
THE SUrtM ARISE BOAT
It is the consensus of opinion among
naval men that the submarine boat Is
in the future to be the most formidable
of destroyers. Thus far Its. power lu
naval warfare has not been absolutely
demonstrate!, but sufficient has been
shown to mnke It certalnthat the sub
murine boat is a most dangerous craft
In wnr on the seas nnd must In the fu
ture be reckoned with as perhaps no
other vessel will be.
A few days ago at Newport one of
these little submarine torpedo boats
bad a trial nnd the result was abso
lutely convincing as to Its ability to de
stroy the largest battleship or cruiser.
In this particular Instance It wns sent
out ngninst n Inrge cruiser of the Amer
ican navy and It did Its work perfectly.
That Is to say. It crawled up within
twenty yards of the cruiser, under the
water and absolutely unnoticed, and on
emerging discharged a torpedo which
normally would have destroyed the
cruiser and given the ship attacked no
chance whatever to defend itself. That
Is to say, the submarine torpedo boat
would have had everything Its own way
and could have put the cruiser out of
action at will.
How great a part these little vessels
are to play in the future of naval war
fare is obvious. The great battleship
and armored cruiser will not In the daya
to come be anything like as formidable
as they now nre when the submarine
torpedo boat has attained the import
ance which It now promises. In fact.
It would seem to be n snfe assumption
that within the next ten years most of
the sea fighting will be done by boats
operated under, rather than above, the
water. Submarine craft appears to be
what the nations will use in the not
remote future.
COMBIHA TIOSS ABROAD.
One of the foolish notions of our own
people Is that it is only in this coun
try that there are industrial combina
tions and that their existence is wholly
due to the tariff. As a matter of fact
there are combinations abroad and some
of them are In free trade Englnnd. A
London correspondent notes the fact
that there is now in the United King
dom a consolidation of iron and steel
manufacturers, brought about by a con
viction that this is necessary to meet
German and American competition,
which has nearly taken the home trade
out of the bunds of the British manu
facturers. They have been fighting
against this foreign invasion for years
aud losing ground all the time and at
last have come to the conclusion that
the only way to safeguard their Inter
ests is by a system of consolidation or
combination which means practically the
formation of a trust. s
The circumstance is commended to
those who are alleging that only in this
countrx. industrial combinations exist
and that they are due to our tariff sys
tem. That Is the democratic argument,
but it Is refuted by the fact that there
are industrial combinations, precisely
similar to those in the United States, in
free-trade England. The assertion that
trusts are impossible under free trade
Is shown by British example to be ut
terly fallacious.
Why the council continues to plant
fire hydrants in spite of the mayor's
vetoes that explicitly point to the fact
that the Increase of hydrants will create
an overlap, seems almost inexplicable.
The charter expressly forbids the mayor
and council from creating any debt over
and above the amount available in nny
fund and lays councllmen and their
sureties liable for the overdraft. If
some eccentric taxpayer should take U
Into his bend to invoke the power of the
courts for the enforcement of this pro
vision of the charter, the practice of
creating debts in defiance of law would
probably be suddenly discontinued.
The commercial forecaster on the
shores of Lake Michigan tells us that
if the weather will stay warm for a
few weeks buying and selling will go
on briskly this fall. But while we have
no assurance from the weather bureau
that the mild weather will continue for
a few weeks, there is every indication
that buying and selling will be brisk
this fall in Omaha, even with the ther
mometer below the freezing point.
With Henry Watterson threatening
to hang "Tom" Taggart if the demo
crats do not carry Indiana and Champ
Clark threatening to cut the throat of
people who Interrupt him when speak
ing, it would seem that there are at
least two democrats taking Intense In
terest in the present campaign.
"Marriage for army officers who have
made no provision therefor Is hurtful
both to the army and to themselves,"
declares Adjutant General Cor bio in hi
latest pronunclamento. General Corbln
tslks from experience. He has beeu a
martyr as well as a martinet.
i Candidate Davis should be permitted
to exercise the buyers' privilege and
pass upon that part of the democratic
campaign book which, refers to protec
tive tariffs. It Is Intimated that It Is
rather severe upon the candidate's Me
of Incidental protection to American In
dustries.
Toklo announces the fall of Port Ar
thur within two weeks. The .Tapnnese
have demonstrated their fighting abll
ity. but their second sight Is no lietter
thnn that of other people, as they have
made the same announcement at least
three times since the beginning of the
war. '
Agitating the Wing.
Chicago Tribune.
Ore of the latest utterances of Editor
Bryan is that he "lovea peace more thnn
either gold or silver." This, we fear, will
displease both wings of the party.
The Wornt to Come.
Chicago Chronicle.
tnrl.l Dn.lhi innrnvil txt Ven the
British military experts, but It has still to
endure the harsh and unyielding criticism
of the corner grocery strategists.
Can't Help It.
Xf tnnjn nrilla TlmeB.
The gross receipts of the fifty largest
postofflces in the United states lor a
gust show an increase of 13 per cent,
compared with the corresponding month
year ' ago. The country Is growing right
Jong.
A Pertinent Question.
New York Bun.
It may be unkind to look a somewhat
tentntlously magnanimous action In the
mouth, but the question arises naturally.
Wherein In the life of Theodore Roosevelt
could the democratic press agents find ma
terial for an attack upon his "personal
honor and Integrity"?
Coat of a Friendly Call.
Springfield Republican.
The latest from Thibet Is that the British
have made the Thibetans pay 7.6OO.0O0
rupees for not opening the door promptly
when they knocked. Ordinarily this would
look llko a war Indemnity, but the British
government Insists that It has not been at
war with Thibet. It was only making a
friendly call.
King; Corn's Dora n In.
Minneapolis Journal.
Two of the beat crop experts have dis
covered that the corn crop la a little short,
too. It Is a splendid crop In Iowa and Ne
braska, however, so that this section of
the country will benefit by the higher prices
later. It Is the southwest that Is hit, and
es the southweit has had several 'fat years,
It will hardly know that It Is hurt.
Pray to Be Spared.
Chicago Chronicle.
England led the United States In the
manufacture of a cheap bicycle and now
an effort is to be made there to devise a
motor car within the reach of moderate
purses. The Automobile club of London la
to hold a series of cqntents restricted to
vehicles costing between i25 and 11.000. the
object being to produce a good car at a
reasonable price. People of moderate means
hardly know whether to pray for the suc
cess of the project or not. Hitherto their
lives have been spared by dodging the cars
of the rich, but they may yet have to incur
all the dangers which a frisky motor car
knows how to devise. - Should the automo
bile come within the reach of all there may
be no one left to tell the tale.
Absurdity of the Race Issae.
Minneapolis Journal.
Robert Treat Paine, jr., twice democratto
candidate for governo. of Massachusetts,
announces that he will vote for Roosevelt
because he Is democratic enough to feel
that he wants a president democratic
enough to meet any man whose character
Justifies his presence at any function. He
says he has himself dined with Booker
Washington, and would consider It a priv
ilege to do so again. He thinks Mr. Parker,
if elected president, would be placed in a
very embarrassing position If there were In
Washington a gathering of the most emi
nent educators In this country, as such a
gathering would necessarily Include Booker
Washington, who Is one of the most emi
nent educators of the country. If Mr.
Parker should receive Mr. Washington at
the White House and not discriminate
against him on account of his color, the
whole south would raise the cry, and with
Justice, that they had been buncoed In their
candidate. On the other hand, the presi
dent would naturally wish to show suffi
cient respect and honor to such a gather
ing, but to play fairly with his political
supporters he would have to establish a
"Jim Crow" pantry behind the White
House for Mr. Washington. This, of course,
Is not the only reason why Mr. Paine votes
for Roosevelt, but he puts the absurdity of
the race issue In a strong light.
PERSONAL MOTES.
Judge Parker acted as pall bearer the
other day. There's nothing like keeping
one's hand In.
Tennyson Smith, the eminent English
temperance advocate, who believes in the
suppression of th liquor traffic by law, la
expected to arrive In this country on Oc
tober J, and will, make a number of tem
perance lectures here.
R. M. Arango has been appointed a con
sulting engineer on the staff of Chief Engi
neer Wallace, In the Panama canal con
struction. He Is particularly charged to
assist In building an aqueduct to supply
the city of Panama with wtter.
Captain Harry Houston, whose home la
t Stanwood, Mich., Is the only survivor
of the 120 men forming the first survey
party on the Isthmus of Panama, In 1R49.
and one of the four who survived the
hardships of the expedition and returned
to the states alive.
The Dressmakers' union has decided to
get busy and remodel women on ths prise
fighter plan broad ahoulders, puffed sleeves
and high busts. This Important Item Is
rescued from the fashion department and
presented to all concerned, sp that they
may prepare for the worst.
Captain Woodbury Kane, who Is a vet
eran of Roosevelt rough riders, Is desired
by the republicans of Newport, R. I., as
colonel of the campaign regiment which
they will organise. A committee has been
appointed to wait. on Captain Kane and the
party managers hope he will accept.
Dr. Frances Q. Williams has obtained
control of all the coal lands In ths Coad
dale district of Nevada. She has organised
trust capital of ts.ooo.Otin snd the railroads
thst are dependent upon' the Coaldale sec
tion for fuel have to make the best ar
rangements they can with Dr. Williams.
One of the most active delegates to the
convention of the National Business Men's
league of Negroes, held recently In Indi
anapolis, was Isaiah F. Montgomery of
Mound Bayou, Mis. Montgomery was
born a slave, but now la tha owner of the
plantation once the property of Jefferson
Davis, president of' the confederacy.
Montgomery and his brothers were the
property of Joseph Davis, brother of the
leader of ths confederacy. The planta
tion passed Into the hands of Joseph
Davis and was placed In charge of Mont
gomery and his brothers. lister Mont
gomery obtained complete control of the
land. Montgomery Is now an old man
snd is a typical representative of the Afri
can race. His wealth Is estimated St
1204.000. U employs US tusa.
GOSSIP ABOVT THE WAR.
SldellKhta rwe Cum pel em and the
Men ni reel In ST It.
Like the heavyweight champion of ths
fistic arena, who scoffed st the pretentions
of a lightweight, exclaiming. "Ah, go get a
reputation:-' Just so dVi the Cossacks look
down upon the other srms of the Russlsn
military establishment. The rough riders
of the steppes had achieved world-wide
reputation for courage, dash and skill, snd
were expected to live up to their reputation
In the present wnr. But the accounts have
not ss yet singled them for special praise
r distinction. "Against OenemI Kun.kl."
says the New York Tribune, "the Cossock
has signally failed. Military crltlca asset
that this Is due In part to the vast line of
communications General Kouropatkln has
to protect, to the Immense transport gnarl
Ing necessary, and also to the huge Rue
slan army. Immobile and entirely unlike
that of th Boers, for which the Cossacks
must continually act as a covering foixe In
the endlesS retreats. Bo that as it mar.
however, his gallantry may have rrlslie
but the little Japanese cavalryman,
mounted on his diminutive pony, has not
been overwhelmed and destroyed, ss the
world believed he would be, by his hugs
Cossack foe, who claimed kinship long ago
to the Rough Riders of the Spanish-American
war."
A Toklo correspondent relates an Instance
of national patriotism Illustrating pic
turesque and noble traits of character Unk
ing old and new Japan. Nearly 3no years
ago, when Togugawa Iseyasu captured the
castle of Osaka from the Talko's widow,
Todo, and her son. Hldeyorl, he found
there a large part of the treasure that the
great captain and statesman had accumu
lated. It was In the form of gold norses,
for the Talko's fancy hsd been thus to
stamp upon the preefcyus metal an Indica
tion of the warlike uses to which It was
destined.
The Tokugawa leader distributed a great
part of the treasure among his chief tetaln-
ers, and to his second son, Norlnao, he gave
300 Ingots, with an lnjunotion that the geld
should be held as a reserve for use In a na
tional emergency. " Nortnao received In fief
the province of Owarl, and In the vaults of
the colossal castle built by him at Nagoya
the Ingots lay untouched until the fall of
feudalism, In 1874.
The feudal chiefs were then red-teed to
ths position of simple gentlemen, with in-'
comes representing a mere fraction of their
previous revenues. But no official scrutiny
was made into the contents of their strong
rooms, and thus many emerged from the
debacle In a much better financial position
than the bald figures of the state's commu
tation scheme suggested.
The Owari Ingots, however, being re
served from ordinary uses by the Injunction
of Iyeyasu an lnjhnctlon of absolutely
binding force in the eyes of his descend
antsremained Inviolate' until a few days
ago, when their owner, Marquis Olrel. pres
ent representative of the Owari family, de
cided that the national emergency contem
plated by his illustrious ancestor had come.
The Ingots have a value of 1,000,000 yen
JMR',000 In modern money.
The gift has not evoked much comment In
Japan. It appears to be considered tro ap
propriate to be extraordinary. Bdt It con
stitutes an Interesting link between the old
and the new.
Thomas F. Millard, writing In Scrlbner's
Monthly on "Why General Kouropatkln
Failed." describes the destructive lire of
Japanese artillery as follows:
"Shortly before 9 o'clock occasional Impact
shells began to fall upon the Russiun cen
ter, snd the Russian batteries ent back a
few In reply. This was merely & prelimi
nary exchange of courtesies, for the pur
pose of getting the ranae. The Russia
gunners in the redoubts were given the
range at 8,800 .yards, which Jhows approxi
mately the distance between the lines.
About 9:20 ths Japanese batteries began, to
fire salvos, also of Impact shell. This
was for the purpose of finally correcting
the rang, but they needed little correc
tion, for it was remarked that nearly all
these salvos, which were fired at short In
tervals, burst almost directly upon the Rus
sian redoubts. At 9:30 the Japanese artil
lery opened all along the line, and at the
same time the counterftanklng movement
Started.
Eye-witnesses of thla fire agree that it
exceeded In Intensity, accuracy and execu
tion anything of the kind they had ever
seen, and many of those expressing this
opinion were officers of experience In for
mer wars. A perfect rain of shells (this
well-worn simile is literally true) fell upon
the positions occupied by the Russian but
teries, killing and wounding hundreds of
the artillerists and dismounting quite a
number of the guns. Fifteen minutes sfter
the Japanese fire opened not a single Rus
sian gun fired another shot. Within that
brief time from ten to fifteen thousand
shells fell upon the Russian positions, mak
ing It absolutely impossible to work the
guns. The Japanese used both shrapnel
and impact shells, and both were terribly
effective. Ths Russian redoubts, which
were of ths old-fashioned kind, offered
scarcely any protection from the shrapnel,
while the new high explosive first used In
thla war by the Japanese caused fearful
havoc, ripping up the entire top of the
ridge like a ploughed field.
FRAVDIXEXT PHOSPF.CTISES.
How Promoters Sugar the Beat for
Easy Investors.
Chicago Tribune.
The fraudulent prospectus is the subject
of complaint In two Interesting suits begun
this month, one In New York and the other
In Baltimore. In both cases the defendants
are banking Institutions which attempted
to unload on the public securities which
were by no means so valuable as the pros
pectuses described them ss being.
In the Baltimore case the plaintiff is a
woman, who was Induced to buy some of
the bonds of a consolidated street railway
system In Nashville, Tenn. The trust com
pany which had charge of the flotation of
the stocks snd bonds is accused of having
made deliberate misrepresentations. The
plaintiff alleges that It hid the fact that
some of the franchises of the road were
about expiring; that the sum paid by the
promoters for the properties, which they
capitalised at 113.000,000, was only ll.873.C0),
and that the $1,000,000 of bonds professedly
reserved to extend the system really wit
reserved to make ir jch needed repairs.
Nearly the entire issuo of bonds, says the
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plaintiff, was unloaded on the "confiding
investing public of Baltimore," to the great
pecuniary Injury of that public.
In the New York case a national bank
sues a trust company which by a deceptive
prospectus had induced It to become one
of the underwriters for the I'nited States
Cotton Duck company, a concern with a
capitalisation of 130,000,000, but nothing like
that amount of tangible property. It Is
charged that the prospectus was issued
with Intent to defraud.
A suit was begun recently by a share
holder of the Electric Vehicle company for
declaring a dividend when it had not been
earned "for fraudulent and illegal pur
poses." In 1S96 8 per cent dividends wore
paid on the preferred and 2 per cent on
the common stock. As a consequence the
preferred sold up to 130 and since then, it
has brought 8H- '
Investors generally submit too tamely
when they have been taken in by deceptive
prospectuses. If they had grit enough to
sue an4 expose the operators who have de
frauded them those operators would be
less audacious. At present they reckon
that the Investing public, even when It has
been badly bitten, will grumble for a time,
but will do nothing more serious.
PASSING PLEASANTRIES.
"They tell me your sister is getting home
lier all the time.1'
"Yes, she's looking more and more like
your wife." Cleveland Plain Dealer.
"Ps, what's the difference between a
flat
and an apartment?
"The price, my son." New York Herald.
Knocker Well, I'm glad I don't owe any
body a cent, anyway.
Debtor Yes, some people find it very hard
to obtain credit. Philadelphia Press.
Gotrox What did that chop say when we
rsn over him?
Chauffeur Said he was delighted and
hoped you were quite well and
Qotrox Speed on quickly! That must be
one of my poor relations. Puck.
Jylns
Wall Street So your son Is studying law.
Do you expect that he will stick to It?
Speculator Oh, no; I Just want him to
know enough about It so that he will be
able to evade it successfully. Detroit Free
Press.
"This radium Is wonderful metal," said
Mrs. Corntossel. "Costs about tl.000,00) an
ounce."
"Yes, answered the farmer. I was in
terested when I first heard of It. But when
they told me the price it sounded too much
like a gold brick." Washington Star.
Maud So that's a photogrnph of you and
your handsome cousin, Clarence, Is It?
You seem to be sitting pretty close to
gether. Where's his left arm?
Mabel (blushing furiously) He hasn't nny
left arm. He lost it In the war with Spnin.
I told him everybody would misunderstand
that picture! Chicago Tribune.
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They are perfect examples of tailor's art
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WHEN TUB TAN COMES OFF.
Baltimore American.
Mabel's back again to winter.
For old Time Is quite a sprinter.
And the woodlands have a tint or
Two they hadn't in the spring.
Mabel's brown as any berry
Lips are like a ruddy cherry.
Though she Isn't quite so merry
As before her little fling.
But her sad preoccupation she will ver)
quickly doff
She'll have lost her little worry when ths
tan
, comes
oft
Mabel hoped the summer'd bring her
Reputation as a sllnger
Of the sort of thrills that linger
In the heart of fickle man;
Now perhaps she's disappointed
That her schemes were all disjointed
While with wormwood she's anointed
As she con's miscarried plans.
Did she waste her time in fooling with the
salty wave and trough?
Yet she ll be all hunky-dory -vhen the
tan
comes
oft.
Half the summer she was busy
With her cousins Lou and Linle,
Making senshore masher dlxsy
With her giddy bathing suit;
Always there was something doing.
Oft a hapless swain pureurlng
There was interest accruing
On pa's mortgages, to boot.
But although the season's over still It's
papa's time to cough,
For she'll keep en blowing dough to make
the
tan
come
off.
Chances are she hsd engagements.
Temporary heart assuagements,
Tantsllxlng soul enragements
Making efforts worth the while.
Doubtless she declared she'd never
Cease to love the being clever
Whom she'd caught with her endeavor
And her saccharinlo smile.
But she Isn't hurt past curing; soon her
fiance she'll scoff,
And her heart-hurt will be healing while
the
tan
comes
off.
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