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About The news-herald. (Plattsmouth, Neb.) 1909-1911 | View Entire Issue (Nov. 25, 1909)
o iilE ROADS DO ILL MAKE MCRE MONEY UNDER TWO CENT FARE LAW. coitem snows figures Missouri Pacific the Only Line That Does Not Show Increase of Earnings. The Minneapolis Omaha, whose Tift earnings per mllo for the yenr end ing In June, 1907. Just after the lower rates went Into effect, was $1,854.91, nnd Tor the year ending In June. 1909, when uil freights and passengers were moved at the lower rates. $1,8119,56. The gross earnings In Nebraska amounted to $1,725,298.40 for the 1907 period, and $1,817,728.42 for 1909. The passenger earnings for the 1907 period amounted to $422,543.8.1, and for 1909, f 4S8.XM 53. The total cost of oper ation amounted to $1,199,581.95 In 1907 and for 1909, $1,231,933.21. The busi ness dene by the railroads In Nebraska Tor the years ending June 30. 1907 and June ;o, 1909, n year when the lower freight rates and passenger rates wero uot lu force and a yenr when they were In force, shows that the net earn ins nf all the railroads have in creased except the Missouri Pacific. Tho Union Pacific lias not yet re ported. The Northwestern increased its earnings per mile from $2,199.74 to 2,.384i.73; the llurlingtou from $:!, 710.55 to $3,102.49; the Hock Island de creased from $1,087.47 to $1,138.62, but. its increase In operating expenses was router than thin. The Missouri Pa-villi- decreased lt earning from $455, IS to $451.1,5. The following is a :alj!e of comparison. Northwestern. 1907. 1909 T'.i..ienrtrK c..rrlMl im mile tii),o:i7.S04 S3.7O1.0"2 ':iMNepgtr rv- nw; tl. 330.414.97 II. 71. 410.81 I'.imu'iveiT c:irn for Tulle r s sr. ii.a.'.s.M jmilriKii per pns Hi'rimir train mil 1.41 1.54 N'i. of n il (ic per trnln 4.7 4 9 iront em rating fxp.'ns. 14.101.071. IB 14,115,230.20 llii-nitlng ex pense ) r Irriln milt $1,214 $i.:o:i Wt Income e.T mlie of roitd.. J2.199.74 J2.nS4.73 rassrisrs jut train mile r.2 67 Burlington. PiiHserigem rarrl.il nf mile 24t.097.K2S :S),KS5.3I4 1'iisscnver tpt- mu'i J4.931.773.OJ J5.4(i7.4:.9.4 P;issene;r tnrn- inp, per mllfl of roud Jt.R0S.r. J2.291.19 Knrnlti;S ur Kfis npi'Uvr tm!n mil" Ji.477 ji.cn:; vpr.tre number .'..;i-lii(i G.C3 0 22 Iross ofM-ratlng ':xpensi JI3.957 ,732.21 $12,093,781. IS "Di-mtlre pxp. it tmin tiiIIm tl.flll Jl .63 NVt Inwme per inlln t2.710.Sr. jn,102.49 I 'AKMciifjcrn per train mllo.... fi 7 7X9 Rock I Bland. f',isciiKprs car- rlixi on i.illn. t.79t.6r, 2;,2K.,74t I'lHs.-nger r - Mil- $J87.?64.4 $r.l0.7S.4 l'l.srifr y.m- Iiiijm tier tnllo if r.M-.il f2.27H.05 12.417.22 Ivirnlrjrs jx-r piif- w-iwr tmin mil.- $1,017 JI.HJ Nvphikh tiwnliiT eo.u-h.a .... 5.1 C.4(i Irons narrating t-xpi'iiFfs $i,jis.7r.s.r.3 $i.i7S.2r,2.fi;t "Di-iatirr exn. per In. in mile $1,119 J1.31S NVt income p.-r mil II.0S7.47 $l.03S.f,2 Tassi-iiKirH per nalu irillc ... 40 C,: Missouri Pacific. PiiNN.'lurcr r;r- ri".l one inli.. n.im.l.r.ll 1 1.2V3.3::3 l'asrnpr nv- wiw $::.1.323.7S $270,.MS.:5 TasHt-nK' r enrn- incii por train mile J9B4.3.'. J.v9l.?.', VwiinlPKH P r tvis-.t-ntr'T 1ialn mil $0,731 $0,14 'Jioms operating .xiiPnsi-B tl.W.fi'.S.lT Jl.4. 472.119 ripcratlriu i-xp- t p.-rtn i-i mil- I1.31S $1,172 Net liiconn' pi-r mil.. J45-..3S J 151 K5 rmrngpr I"-r train n.ilt! ... 29 5.5.6 Legislators' Statutes. Copies of the otatutes will not be pent to members of tho late legisla ture unless they are ordered. This hanee in the usual program by the secretary of state is due to the fact that lie bns not a sufficient number of copies to supply the state oll'.eors, li braries of other stages and members of the legislature. Members who do not want the statutes nro requested by 'he secretary not. to ask for them. LAW DECLARED VOID. Supreme Upon Late Treasurer Buys Bonds. Since the rhange In the state con stitution permitting the Investment of permanent school funds In city, village and school district bonds. State Treas urer P.rtan has bought for the stain $44S,'iOO of municipal bonds and $!2-l.-9-Ci of school district bonds, making a total of $$73,420. These bonds net tin- st.:te 41,; per cent. .1. M. Trotter, proprietor of an Ice cream and milk depot In Lincoln and a pioneer of Nebraska, died suddenly wlill.- se-'ifnl in a chair at the Ition koii farm about five miles outside of Lincoln. Candidates Must Answer. The Woman's Suffrage association have decided I?) sound oet every can didate for the legislature on the propo tdt'on of permitting women to vote, mid they will refusn to voto for any candidate who does not believe they vhould vote, Then the association elected the following officers: Dr. Incx riiiliirlck. Lincoln, president; Mr.4. A. J. Marble, Table Uock, vice president; Mrs. Jay, Lincoln, recording secretary; Mls3 Mary 11. Williams, Kenesaw, corresponding secretary; Mrs. IVwmree, Itocn. treasurer. Court Passes Enactment. Tho supreme court has declared void the normal board law which State Oil Inspector Arthur Mullen had Introduced In the last legislature. As the court declared the new board In valid It did not pass on the question of tho eligibility of T. J. Majors of Peru who was a member of the legis lature when he was appointed by Gov ernor Shalleiiberi;er. The object of the law was to legislate out of ofileo the old state normal board to give place to a new one that was to be ap pointed by the governor. Tho court overrules the demurrer tiled by the new board which alleged that the petition of Attorney General Thompson did not state facts suffi cient to constitute a cause of action and that there was a misjoinder of parties. The wrii In ipio warranto the attorney general declaring the old nor be the legally conUi- prayed for by will be Issued nial board to tuted board. In adhering provision that to the constitutional an act of the legis lature must contain but one subject clearly express In the title and that it must name the sections to be amend ed nnd repealed, the court finds that the act did not refer in any way to an independent act creating the state normal school at Kearney which says the normal board now In control shall manage that institution. To hold the new act wa3 amendatory of this separate act would be contrary to the constitution and to hold the new act constitutional would result in retain ing the old board In control of the Kearney school and the new board in control of the Peru school and Junior normals. The opinion says: "The amendatory act contains an attempt to amuul and repeal the governing statute of the Kearney normal school by amendment of an independent statute relating to the state normal school at Peru and for that reason contravenes the con stitutional provision that no law shall he amended unless the now act con tains the section or sections so amend ed and the section or sections to amended shall be repealed." "It waj suggested in consultation that the point last above mentioned was not persented on the argument or In the brief of the relator, and therefore should not beronsiderod. The answer to tho suggestion is that this is an action on behalf of the state brought by the attorney general to test nnd determine the question or the validity of the r.latute In order to further the educational Interest of the state, and if for any reason we are convinced that the statute Is uncon stitutional we ought to so determine; for If the courts can. under such a pre text, nullify the constitution, we will soon find ourselves openly defying tho provisions of the fundamental law which we have solemnly sworn to uphold." Fine Drove of Hogs. Thomas W. Smith, warden of the state penitentiary, has the finest, drove of red hogs in Nebraska at the statu institution. 1 he slate drove numbers something over ten of which 100 have been born within the last three weeks and Mr. Smith says he does not in tend to lose a pig. In addition to the hogs at the penitentiary Mr. Smith fanned some 500 ncr-s and now has stowed away some !mo bushels of po tatoes, his crop, he said, being al most a failure; 350 bushels of turnips. 200 bushels of carrots and 1 1.OOu head ".f cabbage. What Governor Says. Prosecute the omaha men accused of violating the excise rules. When convictions are had lay the matter be fore the governir and attorney gen eral. ' This was the answer Governor rihallenherger made to Klnier E. Thomas, W. It. Patrick nnd .1. I). Holmes, who tiled complaints agalust Mayor Pohluian and the lire nnd police commissioners of Omaha. The complainants t barged infractions of the excise and gambling laws nnd that it was being carried on with tho permissions ami knowledge of the officers of the law. Requisition for Auto Thieves. Governor Shallenberger honored a requisition from the governor of Iowa Tor the return of two unidentified men to Sioux City on the charge of stealing an automobile. The men ran away with an automobile owned by Dr. Sawyer of Spmix City, fa., nnd were caught In the town of Jackson. Government to Send Money. The governor has receved a com munication from Washington to the effect that the treasury department will shortly send out a draft for $2. S37.34. due the state In the settlement of the Nebraska national forestry af fairs. Last of Local School Bonds. The state auditor registered Omaha school bond:; to the amount of $150, 000. This is the last batch of an issue of $5110,000. Missouri Pacific Bonds. The Missouri Pacific secured per mission from the Hallway commission to issue bonds to Mie amount of $29, OiiO.OOii for betterment of its road ir. Nebraska and other purposes. Fees of Supreme Court Clerk. The report or II. C. Lindsay, clerk of tho supreme cou', showing the collections of his ofllee for a period of six months, filed with Governor Shal lenberger, shows a total of $77. .';." was collected. This Included court cents and copies of opinions. Lis M WIPER. CWP Of NOV MBH-MOMAffiRJEg '" ' - i- mi ,y ama i ifmiiiiMMUMilit.iUKii,! ' fir urn 1 nrf- - ry- -fr-r-f c-- ' y W 2 zanssssmtt mti.w;?r 'MFiBHwirt; hhii.ii m h uvmipi ..ii iii n inr ii i ! i i ii i ii ! i i iw mi i ii iii WLW! ST? 'IP alii HIS year's big and record yield of wheat, corn and oth or staples has been heralded far and wide. Hut there is another harvest that has been growing and ripening all unno ticed by government statisticians and by everybody else, nnd that Is the bumper crop of new millionaires and uiulU millionaires. Never beforo were there ko many In New York ns there are to day. Millionaires wero mnde in a night by the, great wave of consoli dation and tha merging of hundreds of industrial enterprises that was the feature or tho opening years of the twentieth century, Just after tho close of the Spanish-American war. Thero were stool kings, steamship kings, pump kings, kings of car springs and of air brakes and of all sorts oi things. They blossomed forth between the sunset of one day nnd the dawn of the next. Tho select clrclo of plu tocracy widened so swiftly that it broke all barriers nnd created a new aristocracy of wealth In America. Now York was Invaded by a horde of westerners whoso manners In some cases shocked even the Imperturbable tervltors at the expensive hotels where they monopolized the, royal suites. Pittsburg, from being tlmply a great mill town, a city of grimy workmen, Jumped Into world-wide prominence because It was discovered suddenly that It had more millionaires to the snuaro Inch than any other spot on earth. In New York all sorts of people achieved fortunes, paper or actual, almost before they wero nware; Jockeys, waiters, bartenders end other humble folk glanced with amaze at tho balances with their brokers and began making plans for yachts and country bouses. The his tory of this period was one of the wonders of America. Then, two years ago, the panic came and put a dampener on the financial hopes and aspirations of those who had survived the various ills that followed In the wake of industrial over-expansion. Hut since the panic clouds have cleared nway there has come another and cvep more wonderful appreciation in values, the most remarkable advance in the prices of all commodities and securities that this country has ever known. Probably more millionaires have been made in the last 12 months by the steadily rising tide of tremendous prosperity than history ever has recorded in a similar period of time. The number of those who have grow n rich quickly Is greater, probably than it was in the time of mer ger and consolidation, nearly n decade ago. Be fore the panic of 1907 there were, perhaps, 3,000 millionaires In New York. Now there are any where between 5,000 nnd 10,000. Tho advances In the value of securities In the last two years have been almost Incredible. There probably are more than 100,000 persons who are stockholders of United States Steel. In October, 1907, Steel Common was 21; in February, 190!), It was 41V!; this October It has been well above 90. Tho shares of the Pennsylvania railroad are more widely distributed than any other transpor tation line, moro than 00,000 people being Hated on Its books of thareholders. Two years ago It was 103; lately It has been above 150. Union Pa cific Is next to Pennsylvania In the length of Its stockholders' list. It Is not only one of tho most popular Investment securities, but also one that Is speculated In most largely. Union Partita com mon was 100 In 1907; this year it has been above 219, nn Increase of moro than H o per cent. New York Central, Southern Pacific. Haltlmore & Ohio, Atlantic Coast Line, Illinois Central, Great Nor thern, Standard Oil-practically all the Blocks In the long list of railways and Industrials have ad vanced from 50 to 100 or moro per cent. In value since October, 1907. Thousands of people who are not speculators and who are Intolerant of speculation have profit ed enormously by this wonderful rlso In prices. They ore tho ones who bought for Investment when the prices were low and who aro now reap ing the harvest. During the panic enormous blocks of gllt edge shares were thrown on the markets when great speculators !i!o Helnzo and Morso, and some others who' wero not so spectac ular or daring, had to sacrifice imyihin;; and ev erything for ready money. Their holdings now are scattered throughout tho country and have been tucked away lu tens of thousands of safes nnd strong boxes. While some of the now millionaires come from the ranks of thoo who were bargain hunters in the days of panic, most of the new plutocrats aro from tho army of speculators. , There are so many of these new millionaires that It T.-ould bo ImnosKlblo.to lUt them all'fnill vl'lually with any degree of accuracy. Compara tively few of tho old band of millionaires have failed to add materially to their fortunes since the panic. There nre some, it is true, who were more or less disabled In those days, and the period that predeeed them who have not succeeded in win ning back their lost money und prestige; some who were in the ill-fated trust companies, others of the insurance crowd, and so on. Hut those who held on and wero able to weather tho storms have been lifted up and now are richer than ever. Not only that, but a large number of now groups of great financial strength has been developed. Thero Is the Hawley group, for Instance, which has'mado millions and millions In tho rise In val ues of rallwny shares. Edwin Hawley, the head of this coterie, was not a big Wall street figure until wlfliln the last year or so, but of late he has added Immeasurably to his wealth and to his pow er as a transportation king. Among thoso of his friends who have climbed Into the chariot of tho plutocrats Is Frank A. Van derllp, the president of the National City bank. Ho Is reputed to have made more than a million out of Chesapeake & Ohio and Union Paeiilc. Whin he was assistant recretary of the treasury a lew years ago Vanderllp was a. man of very moderate means and lived in a modest little flat In Washington. After be came to New York his wealth Increased somewhat, but only since the first of this year has he entered the milllonalie class. Anolh of the 1 law ley group who Is one of the new crop of multi-millionaires is a banker named Scott, who piled up a small fortune, dollar by dol lar, In Hlchmond, Va., and who has increased it many fold of late in Wall street. Still another of ' the same group Is Robert I'lcmlng. lie was not a poor man v. hen the rise In stocks began, but he is said to bo a very rich one now. Then there Is a new crop of Union Pacific millionaires. Southern Pacific millionaires, Wabash, Hock hland and many other groups of tie-.v millionaires who have become wealthy by tho tremendous upturn of the shares they were Interested In. Some of these men were millionaires before the beginning of this year; there have now moved up to the multi millionaire class. Thero aro quite as many who have won for tunes lu the fit Id of Industrial stocks, especially In United Slates Steel rommon. One of these more than a millionaire when he began buyiug Steel Is I'Vank A. Muusey, the publisher, lie Is said to have started his Steel purchases two years ago, when the block was around "2, and to have accu mulated a total of 100,000 shares at very low prices. Ills winnings are estimated at moro thau $".,000,000. These Instanrcu. taken at random, give an Indi (.alien of the tho.i.-.:inds of fortunes that havu sprung up lately through the up ward sweep of prlceH In Wall street. Great corporations, like the fire and the life Insurance com panies, hnve also profited stupen dously. These tremendous reser voirs of money own hugo blocks of shares In scores of railway nd In dustrial companies lota of from 10,000 shares to almost a control ling Interest. The most of these are sober, gilt edged, dividend-paying Ktocks that have not been spec tacular In their advance In price as compared with some of those that have gono up like skyrockets. Yet even these high priced shares have been enhanced In value from 20 to f.0 per cent. In the last 12 months. They wero bought at panic prices, so tho published records of these companies Ehow, and theso Institu tions now are said to be selling them off, cautiously nnd carefully at the fancy figures that have brnjn prevailing of late. Unlike the in dividual Investor, they believe In cashing in their winnings and salt ing them down until there Is an other chance to buy cheapo In the commodities there are new groups of millionaires nnd multi millionaires also. Some of these have won their wealth In wheat, others In corn, but most of them In cotton. There aro more new cotton kings and princes to day than ever before. Practically all of thepo ore southerners, who have had an expert knowledgo of this staple. Most of them have been cotton planters themselves on a large scale, and all their lives they havo been studying cotton, its growth and its ever-widening markets. Almost every day there have been rumors fly ing about ns to what Patten was doing In cotton. Hut curiously enough there has been never a word said about tho real bull leader In the cotton mnr ket, tho. man who has been the biggest speculator In this staple, nnd who recently has Jumped Into tho inultl -millionaire class, Eugene O. Scales of Dallas, Tex. Scales Is tho most towering bull, probably, that the cotton market ever has known. Patten is a piker beside Lira. Even the celebrated Mr. Sully In his palmiest days never operated on such a huge basis ns Scales has been In the Inst eight months. This new and mighty mnltl-milllonaire In the cot ton mnrket has steadfastly kept himself In the background. Ho is no amateur speculator, how ever, for live years ngo he was in one of tho Sully campaigns and retired from the light with several large dents in his financial armor. Hut now he has won back all his losses and a lot more, Some mining the many oihers who "know cotton" and havo won big fortunes through Its rlso In price nre Fergus Held of Norfolk, Ya.; Morris 11. Itoth schlld of Woodvllle. Miss.; William P. nrown of New Orleans and mIh S. Hcrg of Mississippi. Herg had charge of the Chalmetto terminals at New Orleans not long ngo and was a hard-working rational man. A little later ho pieced together a lot of Email Mississippi railroads and combined them into an effective and profitable system. Then, with a modest fortune, he came to New York, and since then has been making money out of cotton. And so the list runs on. Hardly a name among the thousands of new millionaires Is familiar to New Yorkers. They nre practically unknown out side of the tmull communities they camo from In the west nnd routh. They live In the costliest Bultes In the most expensivo New York hotels. Next biimnier, if they have no setback they will begin leasing or buying palaces at Newport, Par Har bor or oilier places where the socially elect are supposed to live. Then they will begin trying to break through tho Imaginary Inclosure with which "society" surrounds itself. There nre eo many of there new millionaires that perhaps llko the Incur sion of a now race they will overwhelm and con quer the relatively small group of people who have been priding themselves on having their woalth for a tlcrado or more. At any rate, tho nnmes of most of these new millionaires probably will be real for the first time lu print in tho next year's boofts of social registry, which form the nearest approach to the directory of tho peerage that the plutocracy ot Amcrlra knows.