Loup City Northwestern
■■ ■ -X .
LOUP CITY, NEBRASKA, THURSDAY" , JANUARY 30, 1908
VOLUME XXYr
NUMBER 12
MONEY IS PLENTIFUL
A RUSH OF FUNDS BACK INTO RE
• SERVE BANKS.
INTEREST RATES GUT DOWN
Indications Seems to Be That There
Is Really More Money in Sight
Than Is Needed.
New York—The feature of the fin
ancial section last week was the con
tinued rush of funds back into the re
serve deposits of ban^s. The return
ing flood of money to reserves was
perceptible in the foreign money cen
ters as well as here and as effective
in forcing down official discount rates
of the Bank of England, the Bank of
Prance and the Imperial Bank of Ger
many. and the open market rates in
all markets. Notwithstanding this de
cline in the attraction for money
abroad the price has risen strongly
toward the rate at which exports of
gold would be profitable. The grow
ing redundancy of our own money
market has been responsible for this
action.
Supplies have pressed upon the
New York loan market with increas
ing urgency, carrying the call loan
rate down to almost nominal figures
and reducing the interest rates on
time loans to figures lower than were
enjoyed at any time last year. The
remaining issue of New York clearing
house loan certificates has as a con
sequence been going into rapid retire
ment. The rapid easing oi the money
marsei ixiis uul oeeu auecieu uy me
notice of withdrawal of 110.000,000 of
government deposits from New York
banks, partly because of the large cur.
rent deficit in the government rev
enues. but also by reason of the ac
cumulation of funds being more rapid
than the demand to take them up.
This is made manifest by the heavy
tide of bank notes out of the circula
tion of the country, reflected in the
current redemption of these issues at
the United States treasury, and by
the growing movement on the part of
the banks to retire them by means of
deposit of lawful money with the
United States treasury. The inferences
are plain that the heavy imports of
$100,000,000 of foreign gold and the
Tapid issue of over j,000,000 national
bank notes which followed the runs
on the banks last fall, to say nothing
of the various emergency issues of
clearing house certificates, are now
proving redundant in the country's
circulation. Such a result is the in
. variable sequence of financial panic as
\ soon as normal conditions of confi
dence in the banks begin to re-estab
lish themselves.
MRS. EDDY LEAVES CONCORD.
Head of Christian Science Church
Moves to Boston Suburb.
Concord, N. H.—Mrs. Mary G. Baker
Eddy, founder and head of the First
Church of Christ. Scientist, on Sunday
left her home. Pleasant View, in this
city, and by a circuitous route in a spe
cial train went to Chestnut Hill, Brook
line. where she will permanently re
side in a house recently purchased by
the Christian Science denomination.
Mrs. Eddy was accompanied by her
secretary, Calvin A. Frye, Archibald
McLennan, one of the trustees for
Mrs. Eddy's property. Rev. Irving C.
Tomlinson. a Christian Science
• reader,” and a dozen other men and
women of the Christian Science be
lief.
John D. Aids Unemployed.
f*'ew York—To aid the large number
of unemployed of Tarrytown who have
appealed to him for help, John D.
Rockefeller sent word from the south
to the superintendent of his estate
at Pocantico hills to lay off all foreign
ers and give employment to needy
residents. In addition Mr. Rockefeller
has given permission to those in want
to go into his woods and cut wood to
warm their homes.
CHECK TO IMPORTS OF MEATS.
British Government Prohibits Landing
of Frozen Article.
London—The medical inspector of
the local government board has recom
mended the prohibition of imports of
boneless frozen meats on the ground
that its unchecked admission might
constitute a danger to public health.
Indians Have Old Bible.
Marshfield, WIs. — Rev. Joseph
Brown, a Sunday school missionary,
has found among the Indians in Ocon
to county, Wisconsin, a bible given to
the Onedia trii in 1754 by the secre
tary of the Prince of Wales. The
present was made in behalf of the
Church of England.
Foraker Opposes the Primary.
Columbus, O.—County Prosecutor
Welty appeared before the supreme
court in chambers and argued the at
tack on the state primary law brought
by him at the request of Senator For
aker.
AS TO OUR TRADE SITUATION.
Conditions Are Quiet and Prices Ap
pear to Be Falling.
New York—Bradstreet’s has this to
say:
Trade and industry are still quiet,
commodity prices have quite general
ly moved downward, collections are
backward, an increased quantity of
railroad equipment is reported idle,
less satisfactory reports as to the de
mand come from the iron and steel
and coal Industries and an increased
disposition is noted to discuss wage
reductions as an offset to restricting
production.
Wholesale trade as a whole is slow
to open though heavy cuts in cotton
goods by western jobbers, equalled or
exceeded by eastern houses, have
aroused interest and attracted buying
in these and kindred lines. Travelers
on the road report buying to be of a
filling-in character, sufficient merely
I to replace broken stocks, and a slow
and late opening of spring trade is
looked for.
Reports as to collections indicate
slowness in meeting engagements and
mention is made of numerous exten
sions being asked and granted.
Business failures for the week end
ing January 23. number 408, against
431 last week, 252 in the like week of
1907, 276 in 1906, 228 in 1905 and 242
in 1904. Canadian failures for the
week number fifty-one, against forty.
four last wreek and eighteen in this
week a year ago.
Wheat, including flour, exports from
the United Slates and Canada for the
i week ending January 23 aggregated
I 4,418,213 bushels, against 5,412.867
bushels last wreek, 3,328.255 bushels
this week last year, and 3,639,679 bush
els in 1902. For the thirty weeks of
the fiscal year the exports are 135,
731,021 bushels, against 07.961.421
bushels in 1906-07 and 160,906,365
bushels in 1901-02.
Corn exports for the week are 1,171,
428 bushels, agiusl 900.280 bushels last
week and 2,064.883 bushels in 1907.
I For the fiscal year to date the exports
are 28,130.951 bushels, against 31,073,
031 bushels in 1906-07.
MILLION LOST AT PORTLAND.
City and County Building in Maine
Capital Destroyed.
Portland, Me.—A fire which caused
a property damage of $1,000,000 de
stroyed the city hall and police build
ing, and endangered the lives of more
than 700 persons. Although known as
the city hall, the building was divided
between city and county offices, while
the police building sheltered the su
preme, judicial and municipal courts,
in addition to the police department.
The fire was the worst in the state
since the great Portland conflagra
tion of 1866, when the business and
residential sections were almost com
pletely wiped out.
That there wre no fatalities is re
markable, as there were more than
700 persons attending the Western
Maine Knights of Pythias jubilee,
gathered in the auditorium of the city
hall, when the flames wrere discovered.
The financial loss is $1,000,000.
HITCHCOCK DEFENDS BRYAN.
Nebraska Member Takes Part in Polit
ical Debate in House.
Washirgton—Although the urgent
deficiency bill was technically up for
consideration in the house Friday, not
a word pertinent to the bill was
spoken. Under the privlege of gen
era! debate, several members ad
dressed the house oti a variety of sub
jects. but the one which attracted the
most attention was a criticism by Mr.
Hitchcock of Nebraska of a political
forecast by General Charles H. Gros
venor of Ohio. The debate brought
to the feet numerous democrats, who
sprang to the defense of Mr. Bryan,
while General Keifer of Ohio, support
ed by several other republicans, un
dertook to refute all the arguments
concerning Mr. Bryan's two cam
paigns.
Minister Sorsby III.
Lapaz, Bolivia—The American gjinis
t<«!- to Bolivia, William B. Sorsby, who
recently suffered an apopletic stroke,
resulting in paralysis, is in a danger
ous condition. Physicians are con
stantly at his bedside.
Magoon Leaves Havana Today.
Havana—Governor Magoon, who has
been summoned to Washington, will
sail from here at 10 o'clock Monday
on the reenue cutter Hatuey for Tam
pa. He expects to reach Washington
on Thursday.
Prospect for Widows' Pensions.
Washington—Congressman Norris,
who is one of twenty to introduce a
bill granting pensions to widows of
soldiers of the war with Mexico and
c:vil war. said after a conference with
the commissioner of pensions, his dep
uties and the law officer of the depart
ment that the prospects for a general
widows’ pension bill were exceedingly
bright. He did not say that his bill
would be taken by the committee of
invalid pensions for report, but he be
lieved such legislation would be enact
ed the present session.
AN AUXILIARY CRUISER.
%
LEGISLATION IN THE HOUSE
URGENCY DEFFICIENCY MEASURE
UNDER CONSIDERATION.
Chairman Tawney Warns Members to
Be on Guard Against a Large
Defficiency.
Washington—The urgent deficiency
appropriation bill occupied the atten
tion of the house Thursday to the ex
clusion of all other business. A sur
prise was sprung when Chairman
Tawney of the appropriations com
] mittee warned the members that the
country was confronted with the cer
tainty of a $100,000,000 deficit unless
the estimates for the next fiscal year
should be cut down materially. A dis
cussion on tariff revision was injected
into the proceedings, in which lead
ers on both sides of the house tried to
commit one another to a definite an
nouncement as to whether, if success
ful at the November elections, there
would be tariff legislation.
Chairman Tawney of the house com
mittee on appropriations called up the
bill. An. agreement was reached to
devote the entire day to general de
oaie on me measure.
Mr. Tawney said, on the face of the
estimates submitted to congress for
the nest fiscal year the country was
confronted with a certain deficit of
$100,000,000. The estimates, therefore,
would have to be materially revised
and the figures reduced. Mr. Tawney
declared that he deemed it his duty
to call attention to this fact in order
that expenditures may be kept within
estimated revenues.
“I do not make this statement for
the purpose of exciting alarm.” he said.
Mr. Tawney made it plain that there
would be no new appropriations this
session for rivers and harbors or pub
lic buildings, for he said his calcula
tions did not include them.
Mr. Mann (III.) referred to the prom
ises of both parties that if successful
at the next election they would revise
the tariff, and inquired of Mr. Tawney
if it was not true that always imme
diately preceding a revision of the
tariff there was a great decline in the
custom receipts of the government?
Mr. Tawney responded that the es
timates did not take into considera
tion the matter referred to by Mr.
Mann, nor the effect on the revenues
of the government resulting from the
recent financial depression. The esti
mates were made prior to the money
stringency and before the revenues
began to fall off.
•‘Is the gentleman ready to guaran
tee revision of the tariff, provided the
republicans prevail next November?”
asked Mr. Livingston (Ga.)
‘ No,” *aid Mr. Tawney, ‘‘and I am
not willing to guarantee that there
will be tariff revision if the democrats
prevail in November.”
JOHN W. GATES IN NEW YORK.
When American People Wear Old
Clothes Business Soon Improves.
New York—"When the American
people start in to wear their old
clothes it dees not take long to bring
business back t6 normal,” said John
W. Gates in discussing the financial
and business situation in the country.
It was Mr. Gates’ first appearance, in
the Snancial district since he went to
Texas early in December. He came
to town to attend the board meeting
of tho Republic Steel company. He
said .here was a steady increase in
the steel business.
PARKER REPLIES TO BRYAN
SIDELIGHT ON THE CAMPAIGN OF
FOUR YEARS AGO.
Mr. Parker Says He Was Lead to Be
lieve His Candidacy Was Accept
able to the Nebraskan.
Albany, N. Y.—Ex-Chief Justice Al
ton B. Parker of the court of appeals,
who was democratic candidate in 1904
for president of the United States, was
in Albany Wednesday in attendance
upon the court. His attention was
called to an extract from the speech
of William J. Bryan before the demo
cratic members of the Kentucky legis
lature Tuesday, in which Mr. Bryan
was quoted as saying that in 1904 he
“took his medicine in Parker. Parker
was the man above all others I did
not want.’’
“What a pity,” said Judge Parkei.
“that Mr. Brj-an failed to be equally
frank in 1903. Had he done so the
situation of the party could be vastly
better than it is. There were but few
democrats in that year who thought it
wise to have a third term candidate.
But every man of sense knew that
unless a man could be found who
would receive Mr. Bryan's support his
warm personal following would seek
revenge for the defeats of 1S96 and
1900.
feo statesmen, politicians and inter
ested citizens sought diligently to find
someone that he would support. To
some at least he said he would bolt
ex-President Cleveland, Governor Hill,
Senator Gorman and Judge Gray, but
that it would be hard to oppose Parker
as Parker had supported him.
“This attitude induced the impres
sion among many ihat my nomination
would be as acceptable to Mr. Bryan
as any except his own. That impres
sion led to pressure upon me from
many quarters to change my p’ans for
life. And it contributed in no small
measure to the movement which led
to the control of the convention.
“Subsequent events showed that
Mr. Bryan had not been entirely open
with those who had consulted him.
For when, to his surprise, delegates
began to be elected favorable to my
nomination—when indeed the tide had
grown too strong to be breasted, he
started out on his famous tour of de
nunciation. The dragon’s teeth which
he then sowed yielded an abundant
harvest—aye, all that he could wish.
"But it would have been very much
better for the party had he said in
1903, before sentiment had crystallized
as he says now: ‘Parker is the man
above all others that I do not want.’ ”
CONTROL OF GRAZING LAND.
National Live Stock Association Fa
vors This System.
Denver. Colo.—Resolutions favoring
government control and leasing of pub
lic grazing lands, submitted by the
executive committee of the American
National Live Stock association to the
committee on resolutions at the na
tional convention, were adopted by
that committee and reported to the
convention.
Wants $14,OOC,OCO for Census.
Washington—Director North of the
census bureau asked the house com
mittee on census for an appropriatior
of $14,000,000 to defray the cost of tak
ing the census of the United States
for 1910. He said that 3,300 additional
clerks were needed in the census
bureau, some to serve from one to two
years, and that 60,000 enumerators will
be required.
SOME LARGE CASUALTY FIGURES.
What is Shown by a Bulletin Just
Issued.
Washington—Startling figures ap
pear in the accident bulletin just is
sued by the interstate commerce com
mission. covering the months of July,
August and September. 1907. The re
port bhows that the number of cas
ualties on railroads during that quar
terly period were 23,063, including
1.339 killed and 21.724 injured. This
is an increase of 157 in the number
killed and 3.060 in the number injured,
as compared with the corresponding
period of 1900.
Collisions and derailments in the
quarter numbered 4.279. including
2.245 collisions and 2,034 derailments,
of which 320 collisions and 222 derail
ments affected passenger trains. The
damage to cars, engines and roadway
by these accidents amounted to $3,605,
696. This shows an increase in the
number of collisions and derailments
of 607 over the corresponding period
of 1906.
It is stated by the commission that
the worst accident in the present rec
ord. causing the death of twenty-six
persons and the injury of thirty-three,
was the result of a collision between
an east-bound passenger train and a
westbound freight train, and was due
to an error in sending or repeating
the number designating one of the
trains in a dispatcher’s order.
PRESS SEATS WILL BE SCARCE.
Chairman of Republican Committee
Requests Editors to Apply Soon.
Indianapolis. lnri—Chairman New of
the republican committee said that
editors should make application for
seats in the press section at the re
publican national convention of 1908.
The space available, it appears is so
limited that it can be assigned only to
newspapers taking “full, special tele
graphic report,” and the number of
seats requested should be the least
possible. Aplications for seat should
be addressed to Maurice Splain, 48
Post building, Washington, D. C.
BELL WANTS CANTEEN AGAIN.
Major General Says Conditions Much
Better When It Existed.
Washington—After making a care
ful study of the facts relative to the
army cimteeu system, and the reasons
why the law which abolishes it should
in his opinion be repealed. Major Gen
eral Bell, chief of staff, made a com
prehensive report on the question in
the course of his annual report. Gen
eral Bell says:
"When the canteen was in operation
there were fewer desertions, fewer
fines and forfeitures imposed by sen
tence of court-martial, less alcoholism
and less venereal disease than prior to
its establishment. The morals and dis
cipline of the army have suffered,
though of course, no one should be so
narrow as to ascribe to the abolition
of the canteen feature all evil effects
observable.
Bank at Boise Suspends.
Boise. Idaho—The Capitol State
hank of Idaho (limited.) of this city
failed to open its doors for business,
temporary suspension having been de
termined upon by the directors owing
to recent heavy withdrawals of depos
its.
Shaw Leaves Trust Company.
New York—Leslie M. Shaw has re
signed the presidency of the Carnegie
Trust company, which he assumed
early last March on his retirement
from the treasury portfolio at Wash
ington. Iu explaining his resignation
Mr. Shav; said he had had “small dif
ferences" with Charles C. Dickinson,
the organizer.
STATE BOARD WILL COMPLAIN.
Missouri Pacific Grain Rates to St.
Louis Are Excessive.
Lincoln—The State -lailway commis
sion has prepared a complaint to file
with the Interstate Commerce commis
sion against the Missouri Pacific rail
road to compel that line to reduce its
grain rates from interior points in Ne
braska to St. Louis. The reduction
asked is about 2 cents per hundred.
Accused of Removing Tanks.
Boyertown. Pa.—W. R. Javers of
Quakertcwn. Pa., was arrested in con
nection with last week’s fatal theater
fire. He is accused of having been in
strumental in the removal from the
ruins of the theater of the two tanks
used in operating the calcium light at
the entertainment. The coroner wants
to learn whether the tanks were tam
pered with and evidence of criminal
negligence removed.
Public Service Commission.
Lansing, Mich.—A plan for a public
service commission to regulate trans
portatioi., telegraph and telephone
lines, as well as concerns furnishing
heat, light, water and power to the
public, either directly or indirectly,
was favorably reported to the consti
tutional convention by the committee
on the public service corporations.
THE LAW HELD VOID
IMPORTANT DECISION IN THE
MISSOURI COURTS.
REBATES TO TRANSFER SUITS
Opinion by Judge McPherson in Which
He Holds the Statute Denies
Equal Protection.
Kansas City. Mo.—Judge Smith Mc
Pherson. in the United States district
court declared void and unconstitu
tional the statute passed by the Mis
souri legislature in 1907 forbidding
foreign corporations from transfer
ring suits brought against them from
the state to the federal courts upon
pain of forfeiture of their charters.
The application of the Rock Island,
the Santa Fe, and St. Louis. Kansas
City &. Colorado, the Milwaukee. & St.
Paul and the Chicago & Alton Rail
way companies for an injunction to
prevent John E. Swanger, secretary of
state from enforcing the law was
granted by the court.
The Missouri law upon which the
decision is based provides, specifically,
that if any foreign, or non resident
railway corporation, created and ex
isting under the laws of any other
state, and doing a railway business
from one point in the state to another
point within the state, shall, without
the written consent of the other party,
remove a case from the state court to
a United States court, or shall with
out said written consent institute any
suit against a citizen of the state, in
any federal court, then the secretary
of state shall revoke the license to do
business, from one point within the
state t« any other point within the
state, either in carrying passengers or
freight. And doing such business shall
subject it to a penalty of not less
than $2,000, anti not more than $10,000
for each offense. And such disability
shall continue for five years. t
It is alleged in this ease that com
plainant is about to remove a case, and
the secretary will follow that by re
voking its right to do business. The
defendant contends that this in effect
is an action against the state, in vio
'aion of the eleventh amendment to
the constitution. The complainant con
tends that the act of 1907 impairs its
contract with the state, and denies it •
the eual protection of the laws be en
forced.
Judge McPherson in his decision
goes into the law of the case at great
length and quotes freely from previous
decisions to sustain his position.
Taft Gets the Big Four.
Cincinnati, O.—To fight for the na
tional convention delegates from
Ohio's twenty-one congressional dis
tricts, and to allow Secretary of War
Taft to have the four delegates-at
large without a contest is the plan of
campaign suggested by an interview
Monday afternoon by United States
Senator Foraker, who arrived home
Sunday from Washington on business.
He says that the call for the state
convention is illegal, and therefore he
will not take part in selecting its dele
gates.
RIDGELEY ON GUARANTY FUND.
National Banks Have No Power to
Use Money for Purpose.
Washington—Comptroller of Cur
rency Ridgelev inclines to the opinion
that national banks have no power to
appropriate any of their funds to the
guaranty of deposits in other national
banks.
Mr. Ridgelev makes this statement
in a letter sent to Governor Hoch of
Kansas, who had inquired as to the le
gality of national banks entering into
a mutual guaranty arrangement. The
letter repeats a letter the comptroller
sent earlier to G. C. Robertson, cash
ier of the First National bank of Law
ton, Okla.
Bill for Postal Division.
Washington—Representative Hitch
cock introduced a bill authorizing and
directing the postmaster general to
create an additional division of the
railway mail service at Omaha, and to
assign to duty there one division su
perintendent. in addition to those here
tofore appointed and who shall be
paid a salary of $:i,00l) per annum, and
one assistant division superintendent
at $1,800 a year. Mr. Hitchcock had
an interview with Mr. McCleary,
second assistant postmaster general,
with reference to the proposed new di
vision.
TWO-CENT FARE LAW INVALID.
Pennsylvania Supreme Court Holds It
Unconstitutional.
Philadelphia—The 2-cent railroad
fare law now in force in Pennsyl
vania, has beeu declared unconstitu
tional by the state supreme court,
which handed down on opinion affirm
ing the decision of the common pleas
court of Philadelphia, rendered last
September. The vote of the court was
4 to 3, the dissenting opinion being
handed down by Justice Mestrezat.