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7
AUGUST, 21, 1903.
.090,330, an increase of $1,764,825. Thus, for the
jrear ending in 1903, there was a net profit of $20,
934,360, an increase of $930,ul5. During the same
period the telegraph revenue amounted to $18,
619.330, an increase of $769,100. During the same
period the telegraph department expended $21.
96,855. This represents a net deficit of $2,967,525.
The London correspondent for the Chicago Inter
JOcean says that "if allowance is made for the
JlntoreBt on the capital of $54,338220 credited for
the purchase of telegraphs the deficit would bo
$4,461,825."
ATTENTION HAS RECENTLY BEEN Di
rected to the British steamer Oxus which
-carried Admiral Dewey's first dispatches out of
Manila to Hongkong. Lately this steamer has
been engaged in the banana trade between Balti
more and Jamaica. The vessel will soon bo re
turned to England for a general overhauling. The
Baltimore correspondent for the Chicago Inter
Ocean says: "This famous ship was the first to
receive clearanco papers at the port of Manila af
ter Admiral Dewey had defeated the Spanish fleet
and the islands j.ad passed into American hands.
'As it was necessary for the Oxus, as an English
vessel, to have clearance papers, and the Spanish
customs officials were out of office on account of
the defeat of the Spanish fleet, the flag lieutenant
of the American squadron issued papers to the
Oxus. On her arrival at Hongkong the Oxus load
ed a cargo of meats and groceries for the American
fleet, ostensibly as coal, in order to evade the
Spanish agents, and returned to Manila bay, where
she was captured by the Americans as a blockade
runner and relieved of her provisions, after which
ehe was released. The steamer made several trips
to and from Hongkong with provisions for the
lAmerican fleet, being captured each time as she
came in sight of Dewey's vessels."
THE HEPPNER, ORE., CORRESPONDENT
for the Portland Oregonian describes the
terrible cloudburst in this striking way: "A
cloud which burst on the hills a mile south of
Heppner at about 5:30 o'clock Sunday afternoon
let loose a hungry flood of water, which swept
down the hillside in a wall thirty feet high and
200 yards wide. Reaching the bottom of the
canyon, the liquid avalanche reared its mighty
.front over the doomed town, and carried to de
struction nearly every building and human be
ing that lay in its path, leaving a waste of desola
tion to mark its trail. The destroying torrent
raced down the narrow gorge of Willow creek,
inundating as it reached them the settlements of
Lexington, lone, and Douglas, but lessening in
fury and in volume as the thirsty alkali soil of
the valley drank up the water like a sponge. Be
hind it lay nearly 300 dead, drowned like rats in
a trap. The suddenness of the catastrophe gave
the victims no warning, overwhelming them for
the main part 23 they sat within their homes."
AMBASSADOR CHOATE'S SUGGESTION
that he hoped that soma day there would be
a statue of George Washington in the city of
London and one of Victoria in Washington has
aroused a storm of protest particularly from Can
ada. It is reported that '.-d Ottawa petitions to the
authorities of Westminster Abbey are being signed
against the proposal "to erect a monument of
George Washington in Britain's historic edifice."
fl?he London Saturday Review attempts to soothe
the injured feelinga of the Canadians and says
bat it must be admitted that "a statue of Wash
ington here wouid justify the exclamation we
might just as well put up one to the cape rebels
we have just disarmed or to the Irish boys of '98."
.The Review says that as a matter of fact the lat
ter statue would be more justifiable, "for the Irish
certainly had infinitely more just grounds for re
bellion than the Yankees, while the Dutch, of a
different race, owned the country before the Brit
ishers, whilst the Americans, of our own blood,
owed their country solely to us."
A GIGANTIC UNDERTAKING THAT' WILL'
cost not less than $50,000,000 is in the form
of a canal in Scotland, plans for which have just
been completed. This canal is to be large enough
to float ocean ships between the Firth of Forth
on the east coast, acrosg the River Clyde on the
west. A writer in the Chicago Chronicle, describ
ing the proposed canal, says: "An indication of
the saving in distance that would be effected by
the canal will be gained from the following fig
ures: From the Clyde to ports on the. east coast
of Scotland, northeast of England, and' northwest
of Europe the distance saved would be from 529
miles to 238 miles. From the Firth of Forth to
ports on the west coast of Scotland, northwest of
The Commoner.
England, Ireland, America and the Mediterranean
the distance saved would be from 487 to 141 mes.
From Tyno ports to the St Lawrence river tbe
distance saved would bo 150 miles. From tho
west of Britain and northeast of Iroland to middle
western ports of the continont tho distance saved
would be from 377 to 98 miles."
gr (
FORMER PRIVATE SECRETARY FOR AN
drew Carnegie, James Howard Bridge, has
recently published a history of the Carnegie Steel
company. A New York dispatch to tho Chicago
Chronicle, referring to this publication, says that
it is regarded in Wall street as a great incentive
to an advance in United States steel stocks and
this correspondent adds: "Although the book is
evidently intended as a weapon In the hand of
opponents of trusts, keen speculators know that
it will work in the other direction, as it Is a
revelation of the enormous profit-making powers
of the corporation. It shows that stcl rails
which sell for $28 a ton can bo produced for $12,
as against $19, the cost price in England, and that
what applies to rails applies also to all other steel
products."
AN INTERESTING FEATURE OF THIS PUB
lication relatos to tho story of H. C. Frick
and his bitter quarrel with Carnegie. The Now
York correspondent says: "Tho negotiations for
the sale of tho Carnegie properties to a syndicate
composed of Frick and Chicago capitalists are de
tailed. The book relates how tho principal stock
holders Were called together to consider an offer
from a syndicate of NewYork and Chicago capi
talists. They decided to offer ten steel and coke
companies for $250,000,000, hnlf cash, half in fifty
year gold bonds. This was rejected by tho syndi
cate. Then Judge W. H. Moore of Chicago mado
overtures to Phipps and Frick, who joined tho
syndicate at Mr. Carnegie's suggestion, as he re
fused to deal with outside parties. Tho negotia
tions fell through, however, and the sale was not
made and Frick was forced out of the Carnegie
company."
If $4
THIS HISTORY OF THE CARNEGIE COM
pany begins with 1858 when Androw Klo
man started a small forge in Girty's Run, in
Millvale, Duqupsne Borough, Alleghany, and traces
tho company stop by step to the time when it
passed Into the United States steel corporation.
Tho Now York correspondent says that although
the early portion of the history Is of absorbing in
terest, the latter-day developments attracted tho
attention of the men fortunate enough to possess
a copy of the edition do luxe. As to the growth of
the company's earnings in later years and until
that preceding Its absorption, tho following is
given: Net profits of Carnegie associations, Car
negie Brothers & Co., Limited (to 1892), Carnegie,
Phipps & Co., Limited (to 1892), and theCarnogio
Steel company, Limited (from July, 1892): 1889,
$3,540,000; 1890, $5,350,000; 1891, $4,300,000; 1892,
$4,000,000; 1893, $3,000,000; 1894, $4,000,000; 1895,
$5,000,000; 1896, $6,000,000; 1897, $7,000,000; 1898,
$11,500,000; 1899, $21,000,000.
A LETTER WRITTEN BY CHARLES SCHWAB,
former president of the steel trust, to H. C.
Frick under date of May 15, 1899, Is reproduced In
Bridge's hlBtory of the Carnegie Steel companr.
At that time Frick was seeking to form a syndi
cate of capitalists, to purchase .the Carnegie steel
plant and Mr. Schwab's letter was intended to as
sist him. Tho New York World directs public at
tention to an extract from the Schwab letter as
follows: "As to tho future, even on low prices,
I am most sanguine. I know positively that Eng
land cannot produce pig-iron at the actual cost for
less than $11.50 per ton, even allowing no profit on
raw materials, and cannot put pig-iron into a rail
with their most efficient works for less than $7.50
a ton. This would make rails at net cost to them
at $19. We can sell at this price and ship abroad
so as to net us $16 at works for foreign business,
nearly as good as home business has been. What
is true of rails Is equally true of other steel prod
ucts. As a result of this we are going to control
the steel business of the world. You knowrwe can
make rails for less than $12 per ton, leaving a
nice margin on foreign business. Besides this,
foreign costs are going to Increase year by year
because they have not the raw material, while ours
is going to decrease. The result of all this Is
that we will be able to sell ou surplus abroad, run
our works full all the time and get the best prac
tice and costs in '.his way."
COMMENTING UPON THESE INTERESTING
statements by Mr. Schwab, the World points
out that at the date of this letter tariff duties
rlua Pcr ton. 01LP,ff"Inm and 8 pot ton on steel'
rails were bcinglovlcd at all our porta. They aro
SSri&,D.5 l0Vld; 1 Y0t wo havc Mr' Schwab's au
fn2 yV "V"1. wh,ch nono cou,a "'Shcr, for say
fo? SS ? G",r. rCOuld not b0 Produced in England
than ?iJ nl PO!7.OD' nor fltuel raa r ss
rnn,? iPOr An' ?m 8tccl ral8 wore being
made at leas than $12 per ton by tho Carnegio
frn8? d ?uld b0 markotetl nWand bbtow
the English price at a not profit of $4 per ton.
At the same time tho average price of steel rails
tnnAS!",CanMPUrchua80r8 was 28 Pr ton-9 pe?
S? ?n1Cr Umn ,th0 pr,co Mr- 8cb declared
bis company could sell them for in England,
"leaving a nice margin." b '
MR. SCHWAB'S ADMISSION THAT "WHAT
Is true of rails is equally truo of other
steel products," is interpreted by the World to
SIVS J" th0 D1elcy steel duties In 1899 weto
Sfirtinn l rCVnu?'. not for Protection, but for
extortion. Tho World says: "No British mnrlo
steel, whether in rails or in other forms, couW
have competed with American-made steel n 1899
-bo Mr Schwab sald-if the Dinglcy du lea on
mnLhad, ?eo? ,repealcd- The Bam condition of
things exists today, for, as Mr. Schwab says, 'for
eign costs of production have been, increasing while
American costs of production bare bm grow ng
less year by year.' " wuwmt
F IS0nnED 9UVhAT M0 THAN 2,
fLn 00 tons of Btcel ralla a,no aro being an
nually consumed in tho United States, to say
nothing of other steel products, and that the $8
of ?16 00(f onn it0f t0 mon?PJy" unta to a levy
or $16,000,000 a year on tho American people Tho
Wor d adds; ''in the light of Mr. Schwab Te
orLi ll Q s.co why the steo1 tr"t is gath
ering in profits of more than $120,000,000 a year
?rMth i"11? of lts upvvard of 10,000,000 tons of
iron and steel products. Is it strango that tho
beneficiaries of this tariff for extortion only Should
believe, with Mr. Hanna, that tho onl? way to pre.
K?h PrperI y7tbelr Prosperity at least-is to
stand pat' and 'let well enough alone'?"
AN??? AND A CHINAMAN WON THE
highest rrlze and the greatest honors, re-
WntiT IVon' Conn" correspondent of tho
Washington Times says that when tho announce
ment was made at tho anniversary exercises in tho
hInEC,h01 iU1? 22' th0 aPPlau8o that echoed
through tie hall exceeded that which was givon
wWtolow Roid at the conclusion of his address.
It M?J0rrTn?ent add8: "" Townsend
prize of $100, awarded to the member of tho sen-
lor class of tho law school who shall write and
pronounce the best oration at the public anni
versary exercises at graduation, was awarded to
George Williams Crawford, a negro, of Birming
ham, Ala., and a graduate of Talladega college.
Clung Hul Wang, of Canton, China, won tho de
gree of M. L., Summa cum Laude. He is pro
nounced by Dean Theodore Woolsey, of the law
school, to be a most remarkable scholar. He has
been at the Yale law school a year, having grad
uated from Tientsin university, in his native land,
and come hero, where he spent one year at the
University of California before coming to Yale."
SOME MARVELOUS EFFECTS THAT Sci
ence Is producing from the familiar elements
of light, air, and electricity aro described by a
writer in the New York World. This writer says:
"The men of science amaze us by the statement
that tho tail of Borrolli's comet Is 3,000,000 miles
long. Is theje a reader of this paragraph with a
mind capable of grasping the Idea of '.Istanco
therein conveyed? A Paris scientific Investigator
suggests the possibility of using a metal mirror to
dofeat any enemy, however formidable. His idea
is to have the mirror direct an invisible Herzlan
ray right through a warship's armored si es into
the magazine and explode it A London doctor Is
making use of radium to cure cancer. A particle
of this substance inclosed In a lead box an inch
thick emits rays that are as perceptible as a flash
of light on the retina. Tesla's neighbors on Long
Island aro awe-struck by the flashing emanations
from a tall polo which is the vehicle of the in
ventor's new experiments wtth wireless telegraphy.
Blinding streaks of light come and go from this
polo, electrical pyrotechnics such as have made
Tesla the Pain of inventors. The townspeople aro
both amazed and mystified."
The executive mansion is still called the Whit
house notwithstanding tho president's protests
against race prejudice.
1