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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (May 14, 1905)
MONDAY'S BARGAINS ARE AN EXCEPTIONALLY ENTICING LOT. DON'T MISS THEM. Monday., Half Silk Wash Goods Tunsah 811k, Bungalow Silk, 8ole, Hondo, Eollennes Voiles. Toklo Pllese, biiailow Damask Sole Radlent and a score of others too numerous to mention, OQ, at a yard 66c, 60o and JW Graduating and Weddlna; Dresses Persian Iwna, French Uvn Alr-line cloth, Waah Chiffons, Mousllne du Sole, Mercerized Batiste, Linen Batiste, Novelties, Embroidered Novelties, India Llnon, Victoria Lawns. Dimities, Nainsooks, Long Cloths, lltr etc, a yard from $3.00 to....1" 8end in name and address rtreaa MflJJV WASH GOODS DEPARTMENT No lndjr ran afford to buy wash poods before she examine our mammoth Trash goods utock We cnrry everything made for this spring, and get everything aa fnst as It comes out. Road the following lists and prices: Banila, strictly all silk BLOr1 babutut, very flue, a yd . . . KjxJ" Bampwin'i all silk taffeta, H1JI. almost all Silk. 36-tn. wide, worth $1.00 yd, at ydOW Tasar Bilk, looks Just like Rajah but will wash una wear twice a) Ions;, all colors, 20 In. wide, 'TCIr, worth tl.uu yd.. Monday.... tS in. Pongee, SO per cent silk, all colors, worth 7oc yd., OQr Kettlnas POINT V ESPRITE 32 In. -wide, nil the finest shading In black, pink, baby blue, violet, ft champagne, etc., at a yd.. W TULLR NUTTING finest shading, sll the new spring designs, worth TSc a yard, Monday, OOi at a yard OVW Orarandiea 811k Spot Organdies, lappet Orgnn dlen, Pole Kaye Organdies, 811k Crepe Orcandles, Gause Cur reiux Ontandies. 8t. Gaul Organ dies, Irish Dimities Organdies Supreme, etc.. 59c, 60c, t9a,iOLr 25c, l&c. 15o and las! Shirt Waist Suiting Mohair Lustres, Bradford Mohairs, Grecian Voiles. London Voiles, ljittinee Voiles, Embroidered Voiles, Re-enforced Voiles, Bilk Voiles, Necker Voiles, Bummer Bilks, Sole Radlent, Koonalr t'herks, etc., 6c, 60c. Sto. tZn 26c, Ife, 15c 10c and "w All Silk Wash Goods Berlnco de Toklo, a strictly all silk, hahntui In all colors and both plain and Jaoquard, 33-in. wide, worth 76c, Monday COn a yard OVIW Samples of wash goods free. Linens 390, .15c Natural colors, 75c 60c 25o and Electric finished fine Irish Linen. 8-ln. wide, high finish, fully shrunk, especially prepared for shirt waist suits, special price for Monday 75c, 69c . CHp and OUC Butcher's JMnen, Irish manufac ture, fine finish for shirt waist suits Sec, 39c, 36c OSn and Fine Sheer Walking T.lnens. fins count, special finish, SI. 25, CHn $1.00. "So, 69o and UUfc. Linen Lawn, a la gossamer, espec ially made for fine waist lints, handkerchief, drawn and fancy work, round thread, guaranteed not to hrenk In drawing. CHr $1.60, $1.26. 88c. 76c, 58c and..-"- Fancy Linen Suitings In fancy weaves and colors, Tsc, Tlr, 5c, 6Cc, 860 and iCW Shrunk Cotton with an Irish Linen finish, wash and wear as good aa any linen, a yard, 26c, 1lr lAI UtfauvJS 19c, 15c and. Tell us what you want. THE RELIABLE STORE. Graduation Gowns We are showing a complete line of White Swiss and India Llnon Embroidered Robes suitable for Graduation Costumes; also a beautiful line of White and Colored Net Robes all at special prices. White and Colored Net t Efl Robes, at V.OU Embroidered Swiss and India Llnon Robes, at $18.00, $16.60, $16.00. 7(" $13.50 and IsS.O Toil can save fully 80 per cent by buying these robes over buying material and trimmings. SPECIAL VALUES IN WHITE SASHES. flr. at from $1.26 down to OVIW REAL LACE HANDKERCHIEFS A special discount of 25 per cent will be given on real lace handkerchiefs during the next few days. Nothing nicer for Graduation gift. NEW VAL LACES for Graduation and First Communion Costumes, all the latest novelties, at, yard, 25o down to 5c 22&EXJ2 Another Big Silk Sale Monday Our offVrins in silk the best orrr shown. Don net black taffetas nil pianintoed. Monday a groat sale of O. J. tO-lnch C regular; yard J. Bonnet taffeta, $1.10 our price, gof. 27-inch C. J. Rennet taffeta. $1 25 regular; our price, fi()r yard Jy" 36-Inch C. J. Bonnet taffeta, $1.73 regular; our price, OSt yard Ilsvden Pros." have always been Omaha agents for the famous Wlnslow taffeta, and today they still retain the sole agency for this great silk-shown in 1"0 dif ferent colorings, cream, white and black-27 inches wide (If) for. yard I'V,U We have just received a line of the latest creations in silk for handsome suits. IW-lneh wide new Chameleon fsncy effect Chiffon Taffet.i; Cli for Mondav sale, only, yA' mtJXJ The new Thais silks the very latest of Paris styles. Monday we show twentv different colors of this beautiful silk QMr for, yard JQ Fancy silks, worth up to $2 On yard, in point warps, chameleon checks, dots, stripes, place and other neat effects; Monday. J Cp yard, $1.25. 8."c. 65c and 19- lnch color taffetas, regular 6So values; Monday, 10r vard 20- inch color Peau de Cygne. reg ular S.'ic values; sale jll)C price, yard 17-inch black taffeta, regular 95c value; special for one (SQc day," yard w w 57-Inch Wnterette black tnffeta, i.:i6 regular; Monday. 1,10 PEAU PE SOIK. IN BLACK. FOR JACKETS. 19 it. wide, regular '.'So value, for SO In. wide, regular 9So TOr value, for 24 In. wide regular $1.98 f 2S value, for ; In. wide, regular $3.P0 7 2S value, for - BLACK JAP AND CHINA SILK SPECIALS 27 In , regtilar 7fc: special for xsJS $6 In., regular $'i.0i'; special AQc for m J era, 10 f .OR - 75c Corset Cover Embroidery, 25c A beautiful new line of the very finest patterns in Corset Cover Embroidery, worth 60o to 75c peryd. all go at one price Monday, 2oC per yard TBc Ribbons on sale Tuesday at yard 12'4c Sco 16th St. Windows. Watch Monday Evening Papers. Grand Lace Sale Monday 6c buys Laces worth Kc to 3fc per yard Vnls, Torchons, Oriental and Nottingham Itcos. Press Trimming Laces. Nottingham Laces, Underwear Lares all go at one price Monday C per yard y7C Opening Sale New White Millinery MISS BELLE KN0WLT0H and 1. A. MANNING, Managers. A Grand Opening display Monday of all the newest ideas in Dress, Shirt Waist and Outing Dats for Mid-Surainer Wear. WHITE HATS AT $t.95 A hat at this price is always in demand, and we say without fear of eontradietion we give you the best value in America, Kemember every hat purchased from us is this season's make and design. Not a dollar's worth of old stock to be found in this department. WHITE OUTING HATS Duck, Pique, Linen and Embroidery Hats, in the New Sailors, Mother Goose and Charlotte Corday shapes. Mon- .TCfc day. at $1.98. $1.49, 98c, 75c and A large assortment of new White Pon-Pons, Wings, Quills and Aigrettes, $2.50 down to 49c Your Sideboard Opportunity A golden opportunity fraupht with everything that la of Interest to you. STYLE, CONSTRUCTION, FINISH and MONEY-SAVING POSSIBILITIES. WE WANT YOU TO SEE THIS SIDEBOARD, we want you to save money by buying one, we want you to act at once, and we know you will be pleased. MONDAY WILL BE SIDEBOARD DAY This handsome sideboard, just as here shown, Is made of selected oak, golden finish. It is 0 foot, S . , 1. I 1 ml 1 , . n. 111 1 V. 1 ijv.iocnes nKU. ins uase is .111. inuuos. it nas a If m French bevel mirror, very thick and clear, size 14x24. The drawers all work easy, demonstrating perfect construction. The carving Is neat. The XLf finish good. The whole board is oak, f T Q f nere we offer a first class, well constructed sideboard that is worth $18.00 for $12.85 and we only ask you to take a look if you are in the market for such an article. On all Sideboards and Buffets Monday you will see a blue tag. Tneue tags mean a cut in price. Act now. Grocery Prices for the People We retail to the consumer at wholesale prices. Highest quality and freshest goods guaranteed. l5o 1.K2 13c 19c 48-lb. sack fancy High Fatent Minnesota Flour $1 1Mb. sack best White or Yellow Corn- meal 7-lb. sack best Rolled Oatmeal 6 lbs. best Hand-Plcked Navy Beans... t lbs.' best Pearl Tapioca, Sago. Barley or Farina t lbs. choice Japan Rice 19c 6-lb. pail Pure Fruit Jelly. loo JO bars Swift's Pride, Beat 'Em All or .White Paris Laundrv Soap 25c ( lbs. beat Bulk Laundry Starch Vjc Quart can Oolden Table Syrup 7"AO Gallon can Golden Table Syrup 25c On Time Yeast, pkg 2o (-lb. can best pack Lye Hominy or Pumpkin 7c 8-lb. can solid packed Tomatoes 7Vjo S-lb. can Boston Baked Beans 7Vio l-lb. can fancy Table Peaches, in heavy syrup 12H: S-lb. can fancy Table Apricots, in heavy syrup 12Ho 3-lb. can Dunkley's Michigan Plums... .UVio Fancy sweet California Prunes, lb 40 Fancy t Crown Muscatel Raisins, lb.... 4o Fancy 4 Crown Muxcalel Raisins, lb.... 60 Fancy California Mulr Peaches, lb 10a Fancy California Moor Park Apricots, lb 12o FANCY SANTOS COFFEE SPECIAL. For Monday only we will place on sale 6,000 pounds fancy Santos Coffee, regular price fur this coffee 20c nils Bale ony, lb 12Ho FRUIT AND CANDY SALE. MONDAY. Fancy large Navel Oranges, doi 20o Fancy large juicy Lemons, doi 12o Kancy Kurd l"tes, lb loo No. 1 Rngllsh Walnuts, lb 12Ho Large ripe Bananas, dox. l2o Chocolate Creams, regular 80c this sale 15o Iluylcr's Washington Taffy, cake 7H Enticing Monday Bargains Owing to the chill and dampness of the season the Eastern manufac turers are overstocked and our N. Y. buyer has been able to purchase several stocks at surprisingly low prices. Amone the best barealns secured waa.the enUre Surplus Stock of Silk Coats from one of the best known manufacturers whose name wa are not at liberty to use. , DJLiuRii itr.LniwuiitN mane or tiivemands best Taffeta, most artistically designed gar ments of best quality, sold in a 11 QA regular way at $20 and $25, choice.. lTtU NOBBY SILK COATS in loose or fitted- backs, all the newest stylcH, made to sell Cs OA at $18.50, choice ZJ.Jy) SILK COATS, 27 inches long, in gocnl quality Taffeta and Peau de Sole, 1 QQ 1.25 CHILDREN'S WHITE DRESSES, suitable for confirmation dresses, at $3.08, $2.08, $2, and . . BEAUTIFUL WAISTS In Linens, Lnwns and Crepe de Chines at $12.50, $7.51). $5, $3.98 and 9 0ft down to..-. tJO special at $4.98 and. TWO HUNDRED NEW SILK SUITS Just received for Monday selling. TWO GREAT SPECIALS MONDAY. SILK SUITS, worth up to $18, handsome- de signs, come in blues, browns, reds greens, grays, and faucies, stupendous C Clfl values at JJ3 ELEGANT SILK SUITS In 12 different styles. great variety of colors and weaves, f A QA worth $25, $30 and $35, at J.J3 BEAUTIFUL SILK EVENING AND PARTY GOWNS in cream, pink, or blue, 75 of them secured at a great bargain, all fresh, new goods, in very latest styles, worth ( QA up to $40, choice, Monday J.J3 An elegant line of Ktmonas and Dress ing Sacques at from $5 down to LADIES' NEW WASH specially priced at $7.50 down to $3.00 Linen Waists at 75c SUITS .1.98 1.45 $2.00 Lawn Wnists at 95 Handsome Tailor Suits at Half Not one spring suit will be carried over if bargain prices will move them. Don't miss this opportunity. $2( Tailor Made Suits 10.00 lauor Made ruits IZ.ftll $.!() Tailor Made Suits l.OO $40 Tailor Made Suits 20.00 $50 and $60 Tailor Made Suits. ..25.0 J All Spring Coats in Two Lots COVERT COATS, worth $5 C Oil up to $10, choice J.UU COVERT COATS, worth up ft PA to $18.50, choice O.DXt These prices for Monday only. Greatest Skirt Bargains in the City Women's $5 Walking Skirts at. . 2-98 Walking Skirts in every style and fab ric, beautiful garments, greatly un tlerprlced at $15. $12.50, $10, C C $8.90, $7.50 and $D Women's $5 Silk Waists at 2-98 Women's $3.50 Jap Wnists at 1,9 HOME MADE WRAPPERS, best val ues in the city at $5. $3.98, $3, f PA $2.50, $2, $1.75, and l.JU Morning Hour Specials From 8 till 9 a. m. Women's Dressing Sacques From 8:30 till 9:30 a. in. $1.00 Wash Underskirts From 9 till 11a. m. $3.50 Wash Suits in pretty designs 35c 59c 1.19 China Department Bargains Crystal Blown Vases, all Blres from 8 to 16 inch. iSc f fkr to 7Rc values, choice 1VW JARDINIERES 7, 8. 0 and 10 inch, from Weller's celebrated art pottery, regular 6Jc, 75c, $1.00 and $1.60 values, at. 66c, 46c, 35c and WINE GLASSES, n 5 each HANDLED CUPS, St. Oc Dennis shape, each uw CRYSTAL CARD FAVORS Clubs, nearts. spades Kif and diamonds, each Ivfw Flint Blown Tumblers, An each w Incandescent Gas c . Mantles, each 'w OUR NEW 10c COUNTER contains articles worth in a reKular way from.Stfc to $1.00. Don't fall to see It. Best Values in Wall Paper White Blanks, per roll, up from 3c Fine Gilt Taper, per roll, up from 5c Fine Embossed Paper, per roll, up from 12VjC Best grade of Ready Mixed Paint, at gallon 98c Room Moulding, per foot 2c CEMENTICO Best wall finish extant, comes in 12 colors and white, anyone can apply it, per package 35c Varnishes, Stains, Enamels and' Brushes at bargain prices. Don't fall to go our prices before buying. DEPARTMENT ON FOURTH FLOOR. Special Sales for Monday in Omaha's Largest Linen and Domestic Room 80c Utlca Bleached Sheeting, "1 I 2 1-4 yards wide, at, yard . . . t1t 27 l-2c Utlca Bleached Sheeting A 2 yards wide, at, yard ..... , Z3 85c Utica Mills Seamless Sheets, C 81x90 size, at U JC 75c Utica Mills Seamless Sheets, Pft 72x90 size, at DJC 18c Utica Mills Casing, 45 Inches C wide, at, yard UC 16c Utica Mills Casing, 42 Ins. 1 wide, at, yard 12C 19c Utica Mills Ready -to-Use fll Cases, 42x36 size, at t2 15c 48c 68c 17c Utica aiills Ready-to-Use Cases, 45x36 size, at 75c All Linen Bleached and Un bleached Table Linens, yard. $1 extra wide Bleached and Un bleached Table Linen, at, yd. $L35 Double Satin, Bleached Damask, and the best quality silver O C bleached German Damask, yd. 09C $1.50 All Linen Bleached Napkins QO 20x20 size, at, dozen JQv $2 extra heavy Bleached Nap- 1 "ICl kins, at, dozen hJZf $3 Double Damask Napkins, , kins, at, dozen 1.98 19c fine 40-ln. Apron Lawn, large size, at, dozen 15c sheer fine India Llnon, lit, yard 25c sheer Terslan Lawns, at yard 15c fine Dress Ginghams and Sea Island Sa!:s:.at 10c 25c Imported Wash Voiles, at, yard, 15c, 10c and M2 7V&C Standard Dress Prints, . at, yard 25c fine Berkley Cambrics, for infants' wear and fine underwear, 10 yards for 12ic 10c 15c 8!c 1.69 Wool Dress Goods Sale We are now closing out all spring moh production, and If interested, now Is the t READ THESE INDUCEMENTS. BLACK GOODS. 60-Inch Black Sicilian, silk AOc finish -w B4-lnch rrlestley s Cravenetted RQc Ul..lla., JW .2.50 1.29 79c 1.39 60-lnch Silk Finish Mohair Tamlse , 42-Inch Silk Warp Crepe de ROc Paris Jv 45-Inch Silk Warp Seeded Crepes 42-inch Silk Warp Eollennn, our $1.25 quality 44-inch Silk Warp Eolienne, our tl.98 aualltv 4n-lnch Silk Warp Eolienne, our fX $2.50 quality I.W COLORED GOODS. Thirty-eight Mohairs, in all the new printed effects new Mannish Etamlnes. Covert Suitings ajid Seeded Voiles Roods that sell for 60c and 6:ic In all the best CKtC RtnnR! for Mrtnrijiv nnlv JKJ 60-Inch brown and blue Sicilian at 64-Inch all wool Panama, In all AOr shades, our regular $1.26 quality tJzrSr 45-Inch Shadow Checked Molutir, in all the new shades, goods worth $1.50; f on salo Monday lJKJ 45-inch overllne, checks, the latest fer out ing suits, will wash; one of the nil lato fuds for Monday I.W airs and suitings at away below cost of Ime to buy a dress or skirt. 60-lnch printed Silk Warp Mohair f Cf our $.2.00 quality ''V" EXTRA 8 PEC I A Jj 60-inch Cream Mohnlr, silk finish, our $1.00 quality fSQc for LINING DEPARTMENT. Skinner's Satin f gQ Opera Satin, 36 in. wide, guaranteed f fif for two whole sensons, all colors... Sampson's Silk Taffoia linings, guaranteed for two whole seasons, CUp all silk OOC Gloria Satin, the best lining ,. OSn made I,.0"6 Lustral, fine lining, 3fi inches wide, an colors 49c Manhattan Silk, the best sateen 11n- OClf Ing made at the price. 3fi In. wide... - 1UC 25c Other grades at 20c, 16o, . 1flr 191.. n hH IVW Tyco Silk, best black made TAILOR'S TRIMMINGS. Mohairs. Serges, Sleeve Linings, Vest Lin ings, Italian Hair Cloths, Canvas Rubber Tissue, etc. Suitings and Broadcloths, etc., at all the lowest prices. Any person desiring samples of dress goods, wash goods and linlnns by sending address on postal enrd will receive a pack age of samples free by stating which they want; also state price, color quality, etc. Flannel Department Dodge Davis 50c White Wool Flannel, at, ynrd JJG 15c Woodlawn Cheviot Shirting, A at, yard 1UC 10c 28-inch wide heavy Shaker A Flannel, at, yard Noera 30c White Wool Flannel, OA at, yard UC 8'6c 28-inch wide Outing Flan-' A nel, at, yard HfiC 75c White Honeycomb Bod Spreads, good size, hemmed ready for in. use, each fZC 10c Drapery SI Ikollne, Clyv, at, yard 3 2d $1.00 flue fancy Bed Spreads, handsome Marseilles patterns, 7 P each JC $1.25 fringed White Honeycomb or Crochet Bed Spreads, cut corners, for iron beds, heavy knotted Q Q fringe, full size, each OC $2.00 extra high grade White Bed Spreads, fine weave and rich designs, floral and scroll patterns with satin effect finish, extra large, 1 T C ench I. JZO Trade Winners in Hardware 4-tie Parlor Broom 15c A good Rice Scrub Brush 6a Shoo Brushes, each 6c Combination Ice Pick and Hatchet..... 5c The best Screen Door or Window Wire, per square foot mc The best Galvanized Poultry Wire, per square foot 114c 10-quart Galvanized Pall lOo 12-quart Galvanized Pall...., 12c 14-quart Galvanized Pall..... 16c No. 1 Galvanized Wash Tub 89c No. 2 Galvanized Wash Tub 49c No. 3 Galvanized Wash Tub 69c 14-lnch Lawn Mower Solid Steel Garden Hoe, Solid Steel Garden Spade 2-hole Burner Gasoline Stove Russian Iron Gasoline Oven New line Table Mats, per set Double block tin Sprinkling Can. 8olld Steel Frying Pan Feather Dusters, each Connecticut Meat Chopper Solid Steel Grass Hook Solid Steel Grass Shears Fancy Decorated Bird Cage ..$3.49 .. 15a ., 39a ..$2.49 ..$1.49 .. 250 ,. 16a .. Mo .. 10a .. 79o .. 15a .. lf.a .. 4So See our full Mne of White Enameled andplaln Refrigerators. Don't Suffer from Bad Sight Your Eyes Properly Cared For in Our Optical Department Gold Filled Frames, 10-year i ea guarantee, worth $3.00, at i,0J , Gold Plated Frameless Eyeglasses, i 1 CI usual prlc4-$2.60, at The Railroads and the People-Overcapitalization .MERICA'S railway systems now I I comprise 210,000 miles, capitalized. V aDDroxlmately. tor $13,200,000,000, nearly equally divided between bonds and stocks. An idea of these, stupendous figures can be formed by instituting noma comparisons. The high water mark of our national debt three years after the close of tho civil war was slightly In exc.s of $2.844.C4,62(, less than one-half of the bonded debt of the railroads at this time. The aggTegut na tional debt and the aggregate debt of all state, all the counties, all the school dis tricts and ail the cities of the United States will not exceed at this time $2,200,000.00), or one-third of the bonded debt of the rail roads and one-sixth of their total capitali sation, which is now computed to lie equal to one-elgiith of the wealth of the whole nation, including ti e railroads. It goes without saying that if the bonds nd stocks that represent in capitalization Of the American railway systeja had been Issued dollar for. dollar for the money . actually expended for the tangible proper ties of the railroads, the capitalization of railroads would present no problem, either at this time or In the future. It Is a mat-tar-of notoriety, however, that the present capitalization of Amerlc&n railways has been enormously inflated. The excessive valuation uiWds an excuse for imposition of transportation tolls that would other wise not have been Justifiable and is also a constant menace to our er.Ure financial fabric, whose basis must always be confi dence and credit. Cans of Disastrous Panic. The periodical financial convulsions to which the country has been subjected by reason of railroad overcapitalisation have wrought wreck and ruin in every commer cial and industrial center of America. It Is a matter of history that the disas trous llnanclal panic of 1873 waa precip itated by the collapse of the Northern Paclflo railroad, financiered by the late Juy Cooke. To bo sure, other elements boslde fictitious railroad capitalisation and railroad stork Jobbing entered Into the crash of 1S7S, but they were comparatively Of secondary Importance. Within one year after the crash of 1873 cores of railroads which had been ex cessively capitalised were driven Into bank ruptcy and had to be operated by receiv ers.' The disastrous effect of railway over capitalisation was even more marked In 1S31 than It had been twenty years previous. striking Illustration of the east hods pur- Second of a Series of , Timely Articles Written by Edward Rosewater, Editor of The Bee, on Different Phases of the Pending Railroad Problem sued in the capitalization ' of railroads Is presented In an argument by former Comp troller of the United States Treasury Charles O. Dawes before, the Nebraska legislative committee in 1891 relative to the extension of the Burlington system In Ne braska, then covering- a distance of 1,493 miles of road, which was constructed and equipped for a total of $32.618,646.t0. for which bonds were Issued ag greg-atlng $32,183,480.84 and sold for $33,. 040.34S.S4. or an average of $22,325 per mile.' In addition to this the company received from land grants and municipal and county bonds $7,U70 per mllo. A Tax Upon the Country's Products.! Practically, therefore, the mortgage and subsidy covered the cost of the road, and the stock issued, at an average of $25,000 per mile, represented no investment what ever, but was simply a capitalization ofj the railroad franchise. Assuming that thel franchise value of the Burlington in Ne bi ibka, which was converted into stocks, represented ' honest investment, the enor mity cf the recent conversion of that stock Into bonds of the Great Northern and Northern Pacific Railroad company at the rate of $2 in bonds for $1 in stock, must be apparent. These bonds bearing 4 per cent Interest have become and will continue to be a fixed chargo,. in other words, a per manent tax upon the products of the coun -try tributary to the Burlington system and the Great Northern and: Northern Pa clflo systems. Inasmuch as fixed charges representing the Interest upon the bonded 'debt constitute the basis for the tolls charged by every railroad for the trans portation of freight and passengers. I Nobody who has given the American rail way problem serious consideration will con tend that the capitalization of railroads should include only the original cost of the 'roads minus the Amount of subsidies re ceived by them from the United States, the states, counties, townships and cities. That would not be a fair valuation, because the .value of every railroad U materially en hanced by the increase In the value of its right-of-way and terminals, as well as by the betterment of its equipment and gradual Improvement of trackage, roadbeds, bridges, fie., but all these elements of value, In ,fuct, the entire physical property of Amer ican railroads, would scarcely more than equal their bonded debt, which averages about $32,000 per mile. The relation which the bonded debt of the railroads bears to the public In general, and the patrons of the railroads in particular, oan best be understood when it la born In mind that a railroad mortgage covers not only the right-of-way, roadbed, trackage and rolling stock of the road, nut in reality constitutes a blanket mortguge upon the products of the country tributary to It, which means a strip of country from ten to twenty miles in width on each side of It rlshUof-way. Most Be Paid by tbe Public. In the very nature of-things, the "fixed charge," that is, the interest on the bonded debt of every railroad, must be paid by the people who patronize it, willing or unwill ing, and it is for this reason that railroad promoters And no difficulty in securing loans for the entire cost of the railroad and sometimes in excess of Its cost, while own ers of other property, whether It consists of farming lands or city lots and buildings, can only secure mortgage loans equal to 10 Gossip and Stories About Noted People VI Uqultable company draws a salary I of timnOO . rr frnm that com pany and salaries of $22,600 from two of Its subsidiary companies the Mercantile Trust and the Kqultable trust. lie started on a salary of $2S,00. This was suddenly Jumped to $75,000 a year and again to $100.0u0 a year. The directors did not pass upon these stupendous In creases. A subcommittee of two, composed of Chauncey M. Depew and Valentine P. Sn' der, was appointed and they fixed, young 'Jydc's salary. Mr. Depew Is drawing $25. 000 as "counsel fees' from the Equitable and Mr. Snyder receives a large amount aa president of the National Bank of Com merce, which .is controlled by the Equitable. A Plltbe7 Millionaire. Henry CUy Ftlck, supposed to be worth about $60,000,000. ha left Pittsburg for a time and will live in New York while his daughter Is being educated. . Of late Mr. Frick has been much in the public eye, be cause of his growing prominence In the Steel trust, his unsought primacy In the Equitable Life trouble, his entrance into prominent connection with several railroads of the west and northwest and his widening power In politics. He Is singularly quiet and masterful, of the stern and unhendabla stuff on which other men lean for advice and guidance. Mr. Frick Is a short, thick set man of suave manner, soft voice and modest bearing. Japan's Impassive Emperor. Mutaohlto. the emperor of Japan, is about as stoical snd Impassive as an American Indian. . Whsn Trof. Milne, the greatest living seismologist, was studying earth quakes in the, far east he spent some years in the Toklo university. In that island em pire earthquakes occur two or three times a day sometimes. The professor's re searches and experiments attracted the at tention of the mikado, for whose pleasure a sham earthquake was arranged. On a waste piece of the ground the professor caused to be erected some buildings, be neath which were quantities of powerful explosives. The emperor pressed the button and the mines exploded with a terrific and deaf ening force. , His majesty remained calm and Imper turbable. Ha had neither started nor blinked. Motionless and Impassive, ho watched the scene. Then, Just on taking his leave, he uttered the one word Really r per cent to 60 per cent of the total value of the property mortgaged. According to the latest report of the In terstate Commerce commission 82V per cent of the earnings of American railroads rep resents fixed charges or interest upon the bonded debt, while the remainder goes for operating expenses and dividends. From this source It is also gleaned that the bonds Issued by American railroads represents from 40 to CI per cent of their total capitalization, while the stocks rep resent from 46 to 69 per cent of the total capitalization. In dollar and oents, the bonda range from $21,865 per mile to $82,117 per mile, while the stocks range from $18,667 per mile to $69,274 per mile. The Increase of bonded debt for 1904 aggre gates $365,000,000. While all the bonds out standing have for the last three years paid Interest on their face value at from 1 per cent to $ por cent, 66 per cent of the stocks, representing- $3,600,000,000,, paid divi dends in 1903 and 1904 at tho average rata of 64 per cent, while in lt$9ti only 30 per cent of the outstanding stock paid divi dends, which for 1904 exceeded in the ag gregate $00,000,000, and the total amount of dividends distributed within the last fifteen years, which includes a period of depression, is In excess of $1,KOO,OUO,000. The bulk of this sum, representing as it does more than double the present national debt, was exacted from American patrons of railroads as dividends tor fictitious capi talization. The Thins; in a Nutshell. In a nutshell, the 210,000 miles of railroad in the United States, stocked and bond, d al an average of fiiS.OCO per mile and capi talized on the aggregate for $13.25O,Cuo.0O0, or thereabouts, contains $1.5tu.o00,0uo of water, computing the average value of American railroads at $40,000 per mile. On this vast overcapitalization the American people are compelled to pay at least 4 per cent, or $1, SlO.Ouo, OtO, a year in the shape of freight and passenger tolls. How is the water to be wrung out? That is one of the problems which the future alone can solve. Periodically, or et lenst once every twenty years, the water wrings itself out, but it is pumped in again aJmu.t by the same process by which it wus 01 In itially injected, and the process will keep un repeating itself for generation, grow ing more dangerous to our financial system as the years go by, unless the nation and ,1110 states shall assume and exercise supervisory power over railroad capitaliza tion. E. ROSEWATER. Carpenter's Letter (Continued from Page Five.) quinine every night, and if possible keep out of the sun in the middle of the day. One should drink only filtered water and Indulge In stimulants In the most limited way. Barret believes In plenty of exer cise for the tropics. He has a good saddle pony and takes a ride every evening. He believes In going to bed early and In using cltronelle oil on those parts of the body exposed to mosquitoes that the smell may scare them away. Canal and Our Aslatta Trade. In a talk with the American minister the other night I asked him what he thought about the canal, as far as Asia Is conoerned, as a paying Investment for Uncle Sara. Mr. Barret has, you know, a thorough knowl edge of Asiatic, commercial conditions, hav ing been minister to Slam, having lived long In the Philippines and having traveled throughout Japan, China, India and other eastern countries as commissioner general for the St. Louis fair. He replied: "I have no doubt but that the canal will pay in time and that our trade with the Paclflo will form a large part of its profits. The United States is Just beginning to de velop that trade. We are sending goods to Japan, China, Corea, Slum, the Philippine islands, the East Indies and Australasia, and also to the west coast of South Amer ica. Central America and Mexico; but our trade of today with those countries is noth ing compared with what It will be when the canal la finished. The total amount of that trade is now about t:.500,000,000, of which we get less than one-eighth, or about $300,000,000. Within fifteen years after the canal Is done we ought to have 45 per cent of the trade of those countries, and I be lieve It will then amount to $1,000,000,000 a year. The canal will increase that trailn enormously. At the end of fifteen years It ought to anicunt altogether to at least $5,000,000,000 per annum. If we get 45 per cent of it that alone will compensate us for the construction of the canul ten times over. "Indeed, I believe that the canal will repay the cost of its construction In bene fits received within Ave years after it is completed." continued Mr. Barret. "At tho outset it will not cost more than $3no.OiX),oi)0 and It may cost $1,000,000 a year to operate it. These sums' will be bagatelles com pared with tee advantage we shall re ceive from It." "Do you not overestimate the possibili ties of our oriental trade, Mr. Minister?" I asked. '1 think not. The average American hat no conception of the opportunities there.' Almost half rf the world's people live In or near the countries reached 'v the waters of the Pacific ocean. In the Yangtse valley alone there are more than In the United States; Japan has more inhabitants than Canada, Mexico, Central America and the West Indies, and Slam, Corea, Java and Australasia have more than all South America. These people have their wants and as they oome in oontaot with foreign nations those wants will increase. The commercial possibilities of tbe orient can not be overestimated. "Indeed," continued the American min ister, "I see no reason why we should not have a commerce with China within the next twenty-live years that will be worth $1,000,000,000 per annum. That oountry has now a population of 850,000,000 and its for elgn trade Is valued at $350,000,000 or at an average of $1 per head. Considering the fact that Japan's foreign trade has, within thirty years, grown from $1 to $7 per head and that our foreign commerce is valued at $30 or more per head, it is reasonable to estimate that the trade of China within twenty-five years will be worth $6 per head, or, as a whole, at least $2,000,000,009 per annum." Kew Steamship Lines. "Have you thought of the new steamship lines which will spring Into existence through the Panama canal?" continued Minister Barret. "The enormous trade will demand new ships and new trading com panies. At present our manufacturing and producing sections cannot reach the 700, 000X00 people who live on or near tho Pacific ocean, unless they go about Capo Horn or through the Euci canal. When the canal Is done the ships will all go that way and there will be lines from New York, Boston, Philadelphia, Baltimore, Charles ton, Mobile, Savannah, New Orleans and Galveston, connecting the canal with the various points in South America, or our Pacific coast states. There will lie steam ers on the way to all those countries from these ports and other steamers from thoRe countries to us. There will also be direct lines from our ports to Australasia, and, In fact, to all parts of the Paclflo. Such lines will not begirt operations Immediately, but within a reasonable period after the canal Is completed. I know you will hear state ments to the contrary. It was said that the Sues canal would not develop trade between Ah la and Europe as waa claimed. It did develop such trade, howevur, beyond the wildest dreams of its builders, and I am willing to risk my reputation in the proph ecy that this canal will do more to revo lutionize International commerce than any other such undertaking In the history of the world." FRANK Q. CARPluNTES. a T