Image provided by: University of Nebraska-Lincoln Libraries, Lincoln, NE
About Harrison press-journal. (Harrison, Nebraska) 1899-1905 | View Entire Issue (Jan. 4, 1900)
' -ll , 4 - . .r i'' 1 ' mm:,Mt,tnmm I i Willi llliSjSMsms$sisAiaiMsiis (.11' , v5 - V, -.' "' t- e 1 ' "v v. T ;r ."-cr r 1 NEBRASKA REW3 Ac bank at Union w!l ll In cm with the advent of tl U Of blM. year. Diphtheria prevails in some county school districts. Hartinrton Catholics will put 35,000 la a new church. During m 4,893 bushels of apples were shipped from Brownviile. A cowboy preacher named Brooker is tormingr the fates of Ziun in a warm western manner at Murdock. John Darnell of Dwight, aged 70, and thirty-eight years a Nebraskan, is dead. WORK OF THE GIGANTIC MONEY TRUST BARKS 60 DOWh ANO LESSER TRUSTS PALE BEFORE IT HOW THIS NEW MONSTER CREW OUT OF A PURPOSE TO COR NER THE COPPER OUTPUT OF THE COUNTRY. Homer has a new grocery store, a block of new Bidewalks, several street corner lamps and other thinffs too nu numeroos to mention. The Burlington is erecting round house at Crawford. John Demi, a well known farmer of Pierce county, was taken to the Nor folk asylum last week. With Government Aid the Magnlfl cence of Cornering Still More Precious Metals Unfolded Itself to the Schemers A. Blake, a Waterloo farmer, was compelled to kill a valuable horse a few days ago. The animal became crazy nd dangerous. Peru wants a larger depot. At times people have to stand outside waiting for trains. Miss Glegg, a dashing young lady of Ulysses, celebrated her SsQth summer last week. She is one of the little un married women who is proud of her age. Miss Mary Hagge, who lives near Calhoun, was brought to Omaha on an Elkhorn train with a broken arm and ankle and a body covered with bruises, aa a result of a runaway near that place. She was taken to St. Joseph's hospital for treatment, while driving In the country with Otto Schroeder.her betrothed, the team took fright and running away, threw Miss Hagge heav ily. Schroeder, after getting the team under control, took the injured woman to the station at Calhoun, where they boarded a train for Omaha in search of urgical assistance. Gus Lenz, a German bachelor about 40 years of age, living alone on his farm northwest of Eustis, left Eustls about midnight Saturday. His body was found off the main road near his house. Several bloody tracks were found in the road, one wagon wheel being covered with blood. The horse evidently ran away, catching Leni in the wheel of the cart, by which he was dragged three-quarters of a mile. His face was badly torn, his nose broken, apparently by a kick of the horse, and his scalp "torn entirely loose from ths neck to the top of the head. FEAR PUTS CURB ON FINAN CIERS' LIPS. New York. (Special.! Trust A bugaboo created by sensational orators to frighten a too credu- ious puDiic v all street defini tion of a trust, given two years ,igo. Wall street has changed its defl- on of the word "trust" within last few weeks. So long as re industrial monopolies content ed themsflves with playing with a few stock quotations the gentle- men who get a commission for buying and selling for others con- tinued to view the situation with complacency, but when the great Money Trust came into view and action and began to play fast and loose with the money market by the exercise of a capital that runs ihlu me uuuons; wnen oariKS De- gan to topple and great trust com- panles shake; when financial dis aster was followed by the suicide of one of the victims then Wall street woke up to the fact that v the "Bugaboo" Trust was really a very seriou reality that a power ha darisen in the land that was to be feared, if not respected. Men higti In the financial world, men who never before feared to m say what they thought of men and f JAMES STILLMAN, I It is understood at the office of the United States district attorney that Fair and Jockens, the two Fort Crook soldiers who are accused of shooting Morgan, will be arrested on the charge of murder, and will at once be taken before County Judge Howard at Pa pillion for arraignment. It is stated that no resistance will be offered by the military authorities at the post to their arrest. It is contended by some that he fac tha he men have already been tried by court-martial woiMd in terpose a bar for their protection, on the gTound that they have already been once placed in Jeopardy for that of fense. The federal authorities decline to indicate the line of defense that will be relied upon to clear the men. things admitted yesterday to a New York Journal reporter that they did not wish to declare open- ly their opinion of the way in v which the money market had been manipulated, because they had no wish to antagonize so powerful an organization as the Standard Oil trust or a public official of such power in the financial world as t Secretary Gage. The names of Rockefeller, Morgan, Havemeyer, Sloape, Webb and others every one sta&ding for a great trust, and c all together for a greater one are no longer to be spoken of lr- reverently. WHO CONTROLS MILLIONS WHILE MONET FAMINE PREVAILS. This gentleman, president of the National City bank, the repository of the Money trust, had his luncheon served for him In his private office The hour-was Just after 3 o'clock. President StUlman was In a most cheerl ful mood. There were one or two clerks In the room and two men who were counting money. The stacks in their hands looked to be the new rold certificates. They were crispness personified. They were of a de nomination so large as not to be readily recognized by persons outside of banking vircles. I In press on which the rreenback art printed. CHAPTER VII. REVENGE ON HAUGHTY BOSTON. JAN. Having accomplished a splendid coud in New York, the Money Trust went over to Boston and smashed the Globe National bank. It wanted the copper stocks contained In the bank's vault. It got them. President Rogers visited Boston, and after a stormy interview with the di rectors of the bank and with the own ers of the copper stocks, put those stocks in his dress suit case. He did not go over to Massachusetts wearing a mask or carrying a sand bag, but no highwayman could have done better work. The Money Trust had cornered the money market, and it was impossible to secure loans upon the copper stocks The Money Trust could have hammered them still lower had it wished to do so. It was magnalmously content, however, to get them at a figure which some estimate at about half price. Thus is one more link forged in the chain of mines that will constitute the Copper Trust monopoly. When the trust has completed Its plans the price of copper and of cupper stock will be allowed to go up. Then the Money Trust will sell out at top figures, smash the market and buy all the stock back again at thirty or forty points below the figure at whic h it sold It. It Is the old Standard Oil-Sugar Trust game over again. But It can do much better now that It has the Money Trust In the combination. This Money Trust is so powerful that It has induced the United States gov ernment to name the trust's fiscal agnt the National City bank as the de pository of the receipts of the Internal revenue department of this city. Thpse receipts amount to about 000,CK)0 a week. If the National City bank loans this money it will make a substantial sum from it. On the other hand. If It withdraws it from circula tion to further some stock Jobbing scheme of the Money Trust, the mem bers of that trust will, perhaps, make moie out of the Internal revenue re- ceips than if they were handled In a legitimate banking business. The selection of the National City bank as the depository of this money confirms the statement that it has the strongest possible "pull" with the gov- ernmtnt, and that If the Money Trust sees anything at Washington that it wants It simply has to ask for it to get It. GAGE'S LITTLE SCHEME WHILE AIDING WALL STREET HE DOESN'T FORGET LYMAN J. Is Connected with the Banks Which He Officially Designates aa Chief Agents of the U. S. TO CONTROL NATION'S FINANCES. , Islington, Neb. C. F. Spencer, may or Lexington, says: "The best paying business enterprise that could be plac ed In Lexington at this time would un doubtedly be a factory for beet sugar or hemp, which could be supplied by home-grown materials. We have irri gation and a soil that can't be beaten on earth. We can produce excellent beets and can raise any amount of hemp for making cord, rope or binding twine," Sutton, Neb. (Special.) On Christ mas afternoon while J. H. Hennessey, a leading implement dealer of this city, was driving around town, his team, a spirited one, became unmanageable. In his struggle Mr. Hennessey was thrown out of the buggy and as a re sult received a broken and lacerated leg, above the ankle. He was removed to bis home and the fracture was re duced by Dr. Bening. Mr. Hennessey is resting as well as could be expected. Simon Krosne of Fremont has begun wit in the district court against the North British and Mercantile Insurance company for $1,000 insurance. The pe tition, sets forth that the plaintiff took out a fire Insurance policy for J1.000 a year ago and that on September 21, 1899, a fire occurred, by no design of the plaintiff, which caused him gTeat damage. It is stated that a loss of S1.850 was sustained. The plaintiff says that although he has fulfilled every obligation, no settlement has been made, and he therefore asks for the amount of his insurance, with interest. Coumbus, Neb. (Special.) The recent rise in the price of lumber has affected business In this locality. J. B. Geitzen manager of the Foster & Smith lum ber company, states that in many In stances the price has advanced from $4 to $8 per thousand. As a consequence those who have contemplated building have been obliged to postpone the en terprise until more favorable rates are established. The Knollin sheep ranch, situated a half mile north of town, now contains over 30,000 head of sheep, which are being fed through the winter months and fattened for market Hundreds of tons of hay and thousands of bushels of grain will be required for the winter feed. This will furnish a profitable market to the farmers of this portion of the country. Superior, Neb. "The best opening," aid. Mayor W. N. Hunter,"is, of course, for a factory that will use material that is most easily obtainable. A cel lulose factory doesn't require unlimited capital to build and operate and this community offers an unlimited supply of the material In the raw state corn stalks. Starch works would pay here also. I hardly think that Superior would put up extensive bonuses to se cure factories, but any enterprise that does come Into this town will receive ood, practical aid and support. There is one thins; that Superior offers the manufacturer that few other towns can -that U railroad facilities. There Is one point here where a man can throw baseball across the tracks of four ft the greatest systems In the United illsj thi lult r, the Northwest f the Bwttncton and the "Missouri L. 'e. A BMnatectww could not asb rtjtttr mm thM." STORY OF THE SCHEME (New York Journal.) The latest monster in Wall street is the Money trust. It has Just gobbled up the Globe National bank of Boston, which failed with creditors to the amount of $10,000,000. The Money Trust is the creation of John D. Rockefeller, the brains of an other trust the Standard Oil of J. Plerpont Morgan and of the innumer able tribe of capitalists that are at tached to them. The Money Trust has a valuable friend in the person of Lyman J. Gage, secretary of the United States treas ury- This gentleman, who has been closely associated for a great many years with other members of the Money Trust, a few weeks ago provided about 12,000,000 belonging to the United States to the Money Trust, with which It accomplished the grabbing game it tad in view. CHAPTER I. THE ORIGINAL PLOTTERS. "Henry, I think I'll go into copper," John I. Rockefeller made this remark a year ago to his right-hand man, H. H. Rogers. When a Rockefeller talks of "going Into" anything he means that he intends to seize it body and soul and own it thereafter. The Rockefellers "went into" copper. They foresaw the enormous amount of money to be made out of the metal, for copper is consumed In tremendous quantities in the ever-increasing elec trical business. It is employed In cart ridge making, In telephone service. In shipping and in a thousand different tradis. It was a good thing to "go into." Whf-n Mr. Rockefeller announced thai h"? was "going Into" copper he meant that he was going into it In the same way that he went into oil. He and Mr. Rogers formed the Amai ! gamated Copper company, with a cap- ital of $75,000,000. It was a New Jer- ! eey concern that started with a Pick wickian list of incorporators. Its plain ly announced object was to acquire all the copper mines In the United States, the capital of the concern to be In creased when necessary. Those firms that did not come willingly into the combine were to be ruined and forced to sell ouL The Copper Trust was to follow the same lines as the Oil Trust; there could be no better. They are making millions for the Rockefellers every year. CHAPTT3R II. THE HAUGHTY BOSTON CAPITAL 1ST. Into the Copper Trust came Marcus Daly, the copper king, who was made president; Henry H. Rogers, of the Standard Oil Trust, who became vice president, and William G. Rockefeller, who was made secretary and treasurer. These men constituted the directory, with the addition of Frederic P. Olcott, James Stillman, Robert Bacon and Al bert C. Burrage. The first thing they did after organizing was to deny that any such thing as a copper trust had ever been contemplated. Some of the most valuable copper mines In the country were owned by the family of A. 9. Blgelow, a Boston banker. Mr. Blgelow was a director in the Globe National bank, which has Just been wrecked, and a leading own er of several important copper mines, among them the Boston and Montana, which Is one of the richest mlne in the world. The Rockefellers wanted these mines. No Copper Trust could be complete without them. The Rockefellers tried to buy these mines, but failed, Mr, Blgelow declar Ins; that the price offered was entirely Inadequate. He preferred to keep hit mines and run them himself. The Rockefellers knew a thing or Us They had not formed the Oil Trust for nothing. They burnished up their old methods for forcing refiners to sell out to them. Such methods would do Just as wen in the case of copper mines. They determined to put them into ef fect. They began hammering the market for copper mine stock. Owning already a large quantity of copper mining pro perty, they were able also to hammer the price of the metal itself. The Rock efellers have so many business ramifi cations ail over the country that they were in a position to reduce the de mand for copper. Independent pro ducers found their stocks uncalled for. CHAPTER III. ENTER A GOVERNMENT OFFICIAL. I The agent of the money trust is the National City bank. It was organized shores of various securities for Money Kings to Organize a Bank of Great Power. New York. (Special.) There is in prospect for this city, according to rumor among bank men, a great flnan ment tne latter would have got It. It will be seen that in this transaction the government waa entirely the tool of tne aioney Trust Secretary Gage could have nrevented (no f t ti t tn tt-Vtlih In thin orinnlru this plot from succeeding had he asked will rival the power of the Bank of i. T,T a'lgovernment Donas, uut England in Great Britain. It Is the he did not. The government, annar- ,.rtniir, i imm.r,. r ently was only buying from the Money )Slt and issue, under the name of the JIUIt. Vsrlnnil ManU r.t tha ITnH&A ttuu nr LHAntK . the United States National bank, with ALL READY FOR THE PANIC. resources so large that It will be able Meanwhile the Money Trust was pre- to commanl tne finances of the coun- panng the staire management of n l"y. Tne intention is to any tne insti- financial panic that would enhi it tn tution with the United States govern do two things. It wanted tn u ir ment as a sort of fiscal agent of the friend, the Conner Trimt hv rrhi,in., United States. the copper stocks In Boston and it The nucleus of this great institution wanted to make use of ih mn,. h is the National City bank, which al reaoy in tits unci exusumce na oeen had cornered by getting as many by the standard Oil crowd. James Stillman, one of their number, is Its president- He is a director of the cop per trust. He is a smiling gentleman, whom no one would suspect of the JLt pacity to hurt a fly. Many anoRf such gentleman has been employed by the btandard pil trust in its transac tions. Mr, Stillman, as the agent of thd Money Trust, has this advantage the United States treasury is at his beck and call. Secretary Lyman J. Gage, who was the associate of Nelson Mor ris in the First National bank of Chi cago, is closely allied with the Rocke fellers. They have innumerable busi- ft as strangely favored by the powers al ness associations in common. They are j flood the market with money or hide It politically friendly and interdependent, in its safe. More than a week ago it It was Mr. Gage, Nelson Morris and began the latter process. Enormous was possible In New York nmi ow, i.u Washington. With il, rumor says, will loaning It out at enormous rates of In- unlte the lowrful Hanover National terest. bank, a smaller institution whose namu The Money Trust began calling In its ls not Kven- an(l IH-rhaps other banks, mans inuiscriminately. so as to create a monev famine. The same people have engineered wheat famines, oil famines, and In a short time hope to produce a copper famine. That !s how prices are raided. They know the game. Il is possible to corner the money market. That is what the Money Trust is for. All its plans were ripe, and It decided to do so. The Money Trust has at its disposal all the cash of the Standard Oil com pany, as wen as its credit. It some other Chicago men of Influence Intimately connected with the Rocke fellers, who a few years ago helped Prtsident McKinley out of financial dif ficulties. There are few things, it is said, that Secretary Gage would not do for the Money Trust, for the Copper Trust and for the Standard Oil Trust. There are few things that these different trusts would r.ot do for hlm. A scarcity of cash In Wall street due to entirely natural causes suggested to the Money Trust and to its agent, the National City bank, the practicability of cornering the money market wholly. To carry out the plan they knew they waas of greenbacks and bushels ot gold were hoarded by the National Ciiy bank at a time when they were in great demand and commanded splen did rates of interest. The bank waa the miser that clutched and gloated over Its treasure while neighbors starv ed. These facts were exclusively told In the Journal on December 12 in oth er papers eight days later. On Monday a week ago, when there was a panic in Wall street the leading bankers met at the Clearing House. They talked over the situation. "Things are in a bad way," they said. "He must do something to avp the market. There Is no knowlne what The seat of this new United Statu bank Is to be- the old custom house. The amount of Its capital and the ex tent of its resources are yet, of course, problematical. The resources of the Hanover Na tional bank are from $40,000,000 to $),. 000,000. The National City bank ha out In loans at times as much as $100, 000.000. These two banks ajone would form In combination a power whose nod would practically control Wall street and the financial destiny of the nation. Stand ing behind them with unlimited cap italare the Rockefellers, the whole Standard Oil crowd, the Morgans, the Havemeyers and the Sloans. Such a combination would act as the fiscal agent of the United States, not like the old United Slates bank, by a cryigres slonal charter, but by favor of the gov ernment. That the plan has the favor of the present administration is argued from recent favors shown to the Na tional City bank by the secretary of the treasury. M'KINLEY SNUBS 6EN. WHEELER. could be helped by Secretary Gage, who will happen to It unless It is protected .-.h :ncj- must m: loosened up." JUKt then In came President Still man of the National City bank Kiill man, the business manaper of the Mon ey Trust. He was rubbing his hands pleasantly and P.king lik" one who has not a care In the world. "What Is all this about, gentlemen?" hf said unctuouKly. "Why have I bei n ent for?" They told him of the panic and the langer to the market. "My bank can do nothing more, gn-th-mi-n," he said. "We have loaned $$,. 000,000 today purely out of philanthro py and to relieve the stringency." For every cent of that $3,0sj,V'Xl that Mr. Stillman sijke so proudly of the bank charged 10O per cent Interest, CHAPTER VI. HOW THE GAME PAID. The Money Trust made enormous profits from the cash given to it by the secretary of the treasury from Uncle Sam's coffers. It reullzed from $18,000 to $:!5.000 a day profit from the money In addition to the legal rate of 8 per cent interest. The Money Trust was finding that It is much more profitable to corner mon ey than it Is to corner even oil or cop per. Those commodities never yield an interest of 186 per cent per day. Money does in panic times. It did last week. A'ith the aid of the government thert should be no reason for the failure of any scheme undertaken. The Money Trust plays with marked cards. There ls a mechanism by which It can stop Its roulette wheel at the red or at the black Just as it pleases. With the Hhll Ity to loosen or tighten the money mar ket It can buy and make prices high or It can sell and make prices lower. There ls no limit to its profits. They are earned with almost no risk. The mem bers of the Money Trust know absolute ly under which thimble the pea rolls. If by any chance the lamb speculator giM-sws the right thimble, the Money Trust, by a pi-cullar sleight of lutnd, can change the pea from one thimble to the other. This Is better than owning; Industries like oil, sugar or copper. It requires no factories; no dealing with dissatisfied, overworked, underpaid labor. It can all be done at oak desks In nice, clean offices. It Is absolutely sure. It comes as near as possible to ownlnf the print- Is In a position to end money famines at any time by liberating in Wall street some of the accumulated mil lions of t n le Sam's money. Mr. Cage fell right In with the plan the Money Trust. Whether h" dii so knowingly or was Imposed upoii.t-aiii leader muxt decide for himself, not for getting, however, to carefully uHgh Mr. Cage's record for standing by hi- friends. CHAPTER IV, UNCLE SAM A SIDE PARTS ICR. The Money Trust decided that the best plan for preventing Uncle Sam from relieving the money stringency was to grab his millions as xin as they appeared In Wall street and put them in the vaults of their bank. Then the task of relieving the stringency would devolve, not upon the govern ment, but upon the Money Trust where the Rockefellers believed it should be and they need not relieve it until they were quite ready. By some method, which readers- may consider mysterious If they choose, the Money Trust learned that Mr. tlage in tended to offer to purchase $25,000,000 worth of certain government bond is sues. The trust learned this in ample time. No one else was permitted to share the secret. The Money Trust thereupon went In to the market and purchased all of these bonds that It could secure. It obtained about $12,000,000 worth of them at reasonable prices. When Mr. Oage announced the purchase he de clared that the figure he would pay would be that at which they closed In the market on the day the intended purchase was made known. The Money Trust "cashed In" their $12,000,000 worth of bonds tlirough the National City bank. They got the mon ey for them and put It In their vaults. On the same day, In order to prevent the release of any more government money they bid up on the market price of the bonds to a higher figure than was offered by Untie Ram. No one was going to sell to the government when he could get a better price on the Stock Exchange. This move was effect ual In keeping In the treasury in Wash ington about $12,000,000 which the gov ernment had Intended to distribute. Had the Money Trust succeeded In buylna; up all the United States bonds o ftbe Issues designated by the govern- Presldent Usd Him For Political Purposes Only. Washington, D. C (Special. ) There is evidence that General Joe Wheeler, having served the chief purpose for which he was apjinttd an army oil 1 cer by the president to popularize the war among the democrats generally, particularly those of the southern states Is to be treated with scant cour tesy. General Wheeler some days ago re queued (Jenerul Otis to find out from the department authorities whether the president desired him to rmume his congressional duties or to remain in the military service. General Otis made this request for Information by cable, and a blunt reply was sent. The president Informed General Otis that It was a matter of no Importance as to whether General Wheeler stayed In the Philippines or returned to this country, and that the president had no suggestions whatever to make. It would appear now that General Wheeler, who is almost certain to lose his seat in congress, will receive no substantial reward from the Adminis tration in the military service. The general's friends think he could with propriety be retired as a briga dier general In the regular service, and have expected the administration to take the initiative. Huih retirement would have to be effected through leg. islatlve enactment. As a majority of the democrats in congress are Indig nant at General Wheeler for having al lied himself with the administration In any sense, recognition of his service would have to be suggested by the re publicans. There is a feeling of Irritation even among the democrats over this news of the administration's unkind treatment of the gallant veteran. It Is asserted that even If his seat be declared vacant he would be re-elected from his district In Alabama and com back triumphantly to congress. Clilcago, 111. (Special.) The fact that he First National bank of this city is correspondent of the National City bank of New York has lent added in terest here to the report that Secretary of the Treasury Gage ls to become pres ident of that Institution and of the Hanover National bank, which, with one or two others, are to be consoli dated under the names of the National Bank of the United States. Mr. Gage is still one of the principal stockholders of the First National bank of this city, and It is safe to pre sume that his old bank will continue Its close relations with the mammoth financial organization which is to han dle the money of the Rockefellers and act as disbursing agent in distributing the United States internal revenue re ceipts. Having na information except the newspaper reports. President Forgan of the First National bank was not disposed to discuss the consolidation project. He said the First National was the correspondent of the National City bank of New York, and in that ca pacity did the bulk of the local busi ness. He added that he did not be lieve the report that Secretary Gage was to take the position of president of the consolidated institution. The National City bank of New York was recently designated by becreiary Gage as the chief depository of the government revenue receipts, amount ing to nearly $1,000,000 a day. It Is tho pluce of first deposit for funds which otherwise would go Into the vaults of the United States treasury. By the special favor of the secretary of the treasury this New York concern is permitted to lend out this enormous amount of government revenue, only depositing for its security an equal sum in United States bonds tn the hands ot the secretary, TO AID WALL STREET. The object in thua diverting the rev enue receipts as explained by Mr. Gags when he took the step last week, was to relieve the money market in Wall street and come to the relief of the distressed bankers and stock brokers who had been led by overspeculatlon Into financial straits. Secretary Gage has given to the Na tional City bank of New York the greatest possible assistance, and has placed it In the way of reaping enor mous profits by the use of government funds. Indirectly he has strengthened all banks which have interests Identi cal with the New York concern. As a result of these developments the question has again been raised as to the legality of Mr. Gage's conduct In continuing his interest in the First National bank while holding the office of secretary of the treasury. The law declares In explicit terms that the sec retary of the treasury shall have no Interest, directly or Indirectly, In any national bank or other institution which deals In government securities. The purpose of the law was obvi ously to prevent the secretary showing favor to any concern from which h might derive a profit. It was the Idea of those who made the law that the secretary should not be In a position to be tempted from the strict path of duty by the remotest prospect ot any profit lo himself. Secretary Gage has always maintain- , ed that his possession of stock in the First National batik was not a viola tion of the law, and contended that the act was intended to prohibit only an active participation in the management ot the bank. WHERE VIOLATION LIES. The question as to his violation ot ' Jie law may now be found to depend upon the relationship between the New York National City bank and the First National bank of this city. Banks which are correspondents are generally regarded as agents, the one for t he other. To a considerable degree the Interests of the two banks become Men tical. A benefit which Is done to one as agent is shared by the other as prin cipal, and vice versa. The report which connects Secretary Gage with the presidency of the big consolidated Institution which is in progress of organization wets the lime fur his assuming harge at the close of the present administration. It Is well known that Secretary Gage ha no Intention to resign until his four- year term has explied. but at the samo time it ls equally assured that Mr. Gage will not retain his place In the cabinet even should McKinley be re flected. There have been frequent re ports that he would take charge then of some New York financial institution, and the uniform favor shown by the National City bank has added to the probability that this would be the firm of his ultimate choice. FOR EXILES AT GUAM. Washington, D. C (Special.) In an swer to Its appeal for contributions ot books and papers for the garrison at Guam, the navy department has re ceived VIH books, 8,217 ma-gaslnes, 2,14 illustrated weekly papers, 72 sets of dominoes, 72 sets of checkers and 72 sets of alphabet blocks, the last to tx used to teach the native children. MORE FAILURES. Boston, Mass. (Special.) The John P. Ivovel! Arms company and the John P. Luvell company, an allied firm, man ufacturers of sporting goods of all kinds, made an assignment for the ben efit of creditors. The firms were heavily Indebted to the Glole National bank, which was last week placed In charge of a temporary receiver, and thi institution, or rather Its former president, Mr. Cole, has been represente1 In the business by C. W. Norcross, who Is isald to have virtually managed the concern for more than a year past In the Interests of the bank. It has been stated that Mr. Sole, president ot the bank, exchanged the paper of the Level! company for min ing securities, but the fact that Mr. Norcross has remained In charge up to the present time would seem to cast doubt upon this story. It ls stated that the mercantile bills contracted by the company have been paid as prompt ly as those of most business houses, so that the manufacturers who have been supplying them with goods are not big creditors, the bulk of the indebtedness being to banks who have discounted the company's paper. ' Charles K. Barnes, Jr., one of the isslgnees, said: "The assignees are Enable lo give any estimate yet as to the assets and liabilities, and probably will not be able to do so for some days The companies operate stores In a number of cities, from Rangor, Me, to Providence, R. I., and they have large stocks on hand, which will have to be thoroughly examined before the as signees can discover Just what the financial situation Is, A statement will probably be Issued In a few days" The house of the John P. Ivell Armi company waa founded In 1141 by Johp P. Lovell. v;.. A v if