GEEAT WALL STREET MELON CUTTING. ,
Y
I'If
IEMON I
'
Melon-cutting time in Wall street ,
York , is a pleasing function at
: - airytime , but this season the divide
vis the largest in history. The July
dividend and interest payments of cor
porations reach the stupendous total
.of $1SOSS1S49. July and January are
\ the months when the great bulk of cor-
tjporation profits are up for division.
-The prosperity that reached such great
F&eadway last year and is still under
way is responsible for the magnificent
proportions of the July melon this
year. The payments are $18,007,074
greater than those of last July. Some
corporations that never before paid
dividends come up smiling with profits
for their stockholders. Others that
were obliged to suspend dividends now
cheerfully renew , and many companies
announce an increase over their regu
lar dividend rates.
The dividends to be paid are : Rail
road. $3(5.750.080 ( ; industrial , $41,017.-
273 ; traction , $7,080,075 ; bank and
trust companies , $7,700,000 ; total , $92-
553,037. The amount last July was
$ .80,753,331. The interest payments
will be as follows : Railroad , $71.050-
000 ; industrial , $11,450,000 : tractions.
$2,100.000 : government , $3.528.808 ; to
tal , $ SS,32SSOS , as compared with $83-
030,840 in July last year. Among the
railroads the most notable increases in
dividends have been made by the Vanderbilt -
derbilt lines. The largest amounts to
be disbursed by railroads are Chicago
& Northwestern , semi-annual , $3.480-
001 ; Lake Shore & Michigan Southern ,
semi-annual , $2,007,900 , and New York
Central , quarterly , $2,089,230. The
largest amounts to be distributed by
industrial companies are United States
Steel , common stock , quarterly , $2,541-
r,12 : Anaconda , quarterly , $2,100,000 ;
American Telephone & Telegraph ,
quarterly. $2.KH,02S ( ; General Electric ,
quarterly , S1504.'J14 ; ; and Western
Union , quarterly , $1,210,757.
Some of the banks and trust compa
nies have done very well. The Fifth
avenue bank pays a special dividend of
150 per cent in addition to the regular
quarterly rate of 25 per cent. The
Colonial bank pays a semi-annual divi
dend of 10 per cent. The New York
Trust company increases its dividend
rate from 20 to 32 per cent , New York
Life Insurance & Trust from 40 to 45
per cent , Bankers' Trust from 10 to 18 ,
Knickerbocker Ice from 40 to 50 , Trust
Company of America from 32 to 40 ,
Metropolitan from 20 to 34 , and United
States Mortgage & Trust company
from 22 to 24 per cent.
YALE AND HARVARD OARSMEW IN ANNUAL RACE.
'
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Yale Varsity eight Auchincloss , bow ; Mayer , No. 2 ; Rice , No , 3 ; Hop pin. No. 4 ; Taft , No. 5 ; Howe , No. 6 ;
No. 7 ; Boulton , stroke , and Bark low , coxswain. '
* " '
Harvard Varsity eight Tappin , bow ; Fish , No. 2 ; Falkuer , No. 3 ; Bacon , No. 4 ; Severence , No. 5 ; Glass ,
6 ; Richardson , No. 7 ; Farley , stroke , and Blagden , coxswain.
THE COST OF CRIME.
One Year It Amounts to More
tban $1OOOOOOOOO.
The detailed cost of crime in the
United States presents some astounding
figures. In 1907 the co t of crime in
'Greater New York was $35,502,133.24.
'The State , county and city authorities
.outside of Greater New York spent for
it $42,005.472.75. In 45 States ( New
York excluded ) the expenditure was
097,050,000. Criminal losses by fire to
taled $100,000,000. By customs frauds
-the national government lost $ GO,000-
OOO. During this one year the loss in
wages of 100,000 State prisoners was
28,080,000 , while the loss iu Avages of
150,000 prisoners in city and country
Jails was $33,000,000. The grand total ,
jtherefore. of the cost of crime in the
"United States reaches the stupendous fig-
-iies of $1,070,327,605.99.
The cost of religious work in the
United States is enormous. The cost
-.of foreign missions , comprising all de
nominations , is $7,000,000 ; home rnis-
.isions expend the same surd. We spend
for education , $200,000,000 ; for church
-expenses and ministers' salaries , $150-
- 000,000. Hospitals and dispensaries for
the sick poor cost us $100,000,000 ; for
ssauatoriums of all kinds we spend $ GO-
3000,000. City missions and rescue work
xjf all kinds demand and receive $3,000-
-OOO ; humanitarian work of every kind ,
12,000,000. Our Young Men's and
Young Women's Christian Associations
cost $5,000,000 ; while all other moral
jand social work in the United States
requires an expenditure of $5,000,000.
"The total expenditure for humanitarian
-find religious work is , then , $549,000.000.
As against this , the total cost of crime
in the United States for the year reached
the incredible total of $1,070,327,005.99.
That is to. say we spend more than
. $500,000,000 a year more on crime than
-we do on all spiritual , -ecclesiastical , phy-
ussical , humanitarian , educational and heal-
-2ng agencies put together.
I
Parole System for Criminals.
At the recent National Congress of
Charities and Corrections at Minneapolis
a most interesting paper was read by
Harris R. Cooley , director of public ser
vice , division of charities and corrections ,
of Cleveland , Ohio. He described the
working of the parole system , which has
been greatly extended under the admin
istration of Mayor Tom Johnson. Dur
ing the six years of Mayor Johnson's
term of office over 4.000 persons have been
pardoned or paroled. It is the theory in
Cleveland that for a man condemned to
prison for the first time there is a psy
chological moment in which help can be
wisely given. To act too soon would be
little the wrongdoing ; to wait too long
would embitter and harden the individual
into a criminal. Only 14 per cent of the
paroled men have been returned to the
house of correction. According to the
statistics , this is less than the returns of
those who were released after working
out their entire time in prison under the
old regime. The plan has been found 'to
work exceptionally good in the case of
men who neglected or deserted their fam
ilies. Mr. Cooley strongly opposed the
imposition of a fine as an alternative tea
a term of imprisonment. He claims that
a man who tries to stral a franchise era
a canal or a million dollars is in need
of correctional treatment just as much
as the man who tries to steal a ham or
an overcoat. He stated that there was a
growing sentiment in favor of moving
penal institutions to the country , where
more of the prisoners could work in the
fields under the open sky. This has been
tried in connection with the Cleveland
house of correction and there has been
little trouble with escapes.
Interesting News Items.
Roy Nonkin of Peabody , Kan. , was
drowned in Big Sugar creek. He had
gone there with a party of fishermen.
The 10-year-old son of William Larner ,
living near Dill , 0. T. , was instantly
killed in trying to stop a runaway team.
DEARTH OF FARM LABORERS.
Fully 50OOO of Them Arc Needed In
New York State.
Despite the establishment of agricul
tural colleges and the agitation for a
"return to the land , " there are 15,000
fewer farms in the State of New York
at the present time than there were in
1890. And it will possibly be equally
surprising to the average city man to
learn that iu spite of this decrease in
the number of farms , the shortage of
farm laborers has grown to such dimen
sions that the State is advertising in 11
foreign newspapers for agricultural la
borers.
These facts have been brought out by
Representative Bennett , who is the chair
man of a committee appointed by Con
gress to go abroad to study the immigra
tion question from the viewpoint of at
tracting more immigrants from the agri
cultural countries of Europe. In addi
tion to this , the Immigration Commis
sion is to make another investigation , the
scope of which will include all parts of
the country , with a view to getting at the
real facts as to the shortage of farm la
borers throughout the United States , and
by next winter's session of Congress its
members hope to be in possession of sta
tistics that will materially help to im
prove the conditions of employing agri
culturists all over the United States.
Bolton Hall , who is a missionary in
the cause of people taking up small farms
near the large cities and of working them
on scientific principles , says the decrease
in the number of farms in New York
State is owing to two causes. One is th
great rise in land values near the large
cities , and the other is the creation of
vast estates by rich men through the ab
sorption of many small farmers' hold
ings. Within the last j-ear alone , he esti
mates , 1,000 farms were sold on Lon
Island for conversion into building lots.
In the counties just north of New York
City many thousands of acres of farm
land have gone to make up great estates.
At the present time 50,000 farm la-
CHINA IS GRATEFUL.
Cf.ncle Sum MaUe.i IIcr n Present of
Mu.nr' ilillionn of Dollars.
TJirt her representative 5n Wash-
tnj.t : > n China has expressed her gratl-
faiue to the United States for an ex
hibition of consideration not often di -
played by a strong nation toward a
weaker one. The Empress Dowager
later will .personally . acknowledge
China's appreciation of our generosity.
It is not often that one nation practi
cally makes to another a present of
about $27,000,000 , but that is what
President Roosevelt and Secretary Root
propose to do and the people of the
United States will agree as to the jus
tice of the act
In 1900 there was a sort of rebellion
in China on the part of the anti-for
eign element. This is known as the
Boxer outbreak. The legations were
besieged and lives and property en
dangered. The European powers and
the United States sent soldiers and
these inarched as a united army upon
Pekln , restoring peace.
Then came up the question of pun
ishment and indemnity , for , of course ,
the nations could not be expected to
stand the expense of the expedition
and suffer the -wrongs of their citizens
to go unrighted. Some of the Euro
pean nations were for slicing up China
and dividing the slices , but Uncle Sam
frowned on this and the proposition
was abandoned. An agreement was
reached on September 7 , 1901 , by which
China bound herself to punish the of
fenders and to pay to the injured na
tions the following sum :
Russia $87,500,000
Germany 00,000,000
GREAT WATER DUEL ,
Cornell Defeats Columbia. Oorvixaea
After Desperate St-raggle ,
In probably the greatest rowing race
ever seen in this country Cornell uni
versity -won the big Intercollegiate
aquatic event over the Poughkeepsle
course on the Hudson River recently.
Columbia University made a desperate
fight for the honor and was beaten
only by three feet The two crews
rowed side by side for four long , hard
miles and the men in both boats were
thoroughly exhausted at the finish.
Columbia's grand showing \vas a big
surprise , as it was figured that the
struggle lay between Cornell and the
Annapolis crew. The navy could do no
better than third. Pennsylvania frvaa
fourth , Wisconsin fifth and Georgetown
sixth. Syracuse did not finish , her
shell being swamped In a big swell.
The -water was unusually rough and
some of the contenders were badly
handicapped by their shells shipping
water.
Cornell won by a magnificent burst
of speed in the last ten strokes , the
nose of her shell just sweeping across
the finish line ahead of the New York
ers. But from the first dip of the oars
at the head of the course until the
winning Ithacans dropped their sweeps
and fell back , half senseless , In their
victory , not twenty-five feet separated
either shell , and at the end the Colum
bians were so close up that the great
crowd on the banks thought the tri
umph was theirs. Unusual picturesque-
ness was added to the scene by the
fact that darkness closed so quickly
that the glare of the great searchlight
from the United States monitor Aorkan-
- w
.
V
Ji % # za2 ?
France 00,000,000
United States 23,440,779
Great Britain 24,000,000
Japan 22,500,000
Italy 14,000,000
Austria , Spain and Holland. 39,559,221
Behjwm 0,000,000
Total $333,000,000
This tremendous sum was to be paid
In annual installments , covering a per
iod of forty years , with Interest at 4
per cent. Uncle Sam's share af $23-
440,799 , by the time it was all paid ,
would amount to nearly $41,000,000.
The annual revenue of the Chinese
government is only about $68,000,000.
Manifestly the exactisn of such an
enormous sum as agreed upon in the
protocol would be a burden upon China
not easily to be borne. President
Roosevelt and Secretary Root have re
vised our claims and find that our ac
tual expenditures , together with inter
est up to date , would be covered by
$14,000,000. China has already paid
us $0.000,000 , and the President and
Secretary Root propose to release
China from all further claims on pay
ment of the balance of $8,000,000. This
Is in effect making China a present of
learly $27,000,000.
Short Netrs Notes.
All of the mail carriers of Butte ,
Mont. , went on strike , the men declar
ing they could not live on $600 to $850
a year , the wages now paid.
A severe earthquake shock was felt at
AngleseyEngland. Buildings were rock
ed , but no damage was done. Seismo
graphs in Austria and England record
ed violent shocks at distances of from
2,500 to 7,200 miles.
Henry M. Walker , a resident of New
Jersey , has sued Edward H. Harriman ,
the railway magnate , for $500,000 dam
ages for alleged breach of contract and
conspiracy to prevent the construction of
the Portland , Nehalem & Tillamook rail
way of Oregon.
Dispatches state that Flprencio Morales
and Bernardo Mora , the Guatemalans
who assassinated Gen. Barrillas , ex-pres
ident of Guatemala , have , after two days'
trial , been sentenced to death. Mora con
fessed that he was instigated by Gen.
Lima , aid to President Cabrera of Guate
mala , who gave him $500 to k'ill Barrillas.
sas was thrown over the crews at the
finish to aid the judges in their de
cision.
Twenty thousand people saw the
great struggle from pleasure craft , ob-
servatfon trains and various vantage1
points along the course. Wisconsin was
victorious In the freshman eight-oared
event and Syracuse triumphed in the
'varsity four-oared race.
.JUDGE LOVING SET FREE.
Father "XVIio Kills Daughter's Asnail-
ant Acanittert.
At Houston , Va. , former Judge Wil
liam G. Loving of Nelson was acquit
ted of the charge of murder In killing
Theodore Estes , son of Sheriff M. K.
Estes. Judge Loving shot and killed
young Estes on the afternoon of April
22 , following a buggy ride Estes had
taken with the judge's daughter , Miss
Elizabeth Loving , who told her father
that her escort had drugged her.
Judge Barksdale thanked the Jurors
for their attendance upon court at
great sacrifices. He declared he be
lieved the verdict was In accordance
with the conscientious views of the
jurymen. Foreman McCraw , a mer
chant and farmer , said that on the first
ballot every juryman favored the ac
quittal of the defendant When asked
what the basis of the verdict -ros he
said "insanity , " and that he and other
members of the jury believed that
Judge Loving was out of his mind at
the time he killed young Estes. The
stress , he said , had been brought on
by the story told him by his daughter.
IVeed of the Times.
Cardinal Gibbons , in a commencement
address at Holy Cross College , Worcester ,
Mass. , referring to the great need of our
tunes for the betterment of society , said :
"Wfiat the times call for is men , sturdy
men , endowed with the courage of their
convictions. Many a soldier who fearless
ly rushed to the cannon's mouth has
quailed before the shafts of ridicule and
the shouts of popular prejudice. The man
who calmly fulfills a duty against public
clamor displays greater courage than the
captain who captures cities. "
A CRY FOR HELP.
Tliouaandn of Men Xceded In Rapid'
\f Gro\vlnir Norlitve.it.
Once more n cry tor help Is going u >
from the West Twenty thousand men
are needed by the lumber mills oper
ating In eastern Washington and Oregon
gen and northern Idaho , and ns many
more are wanted by the Northern Pa
cific and other railroad companies ,
building lines In part of the Northwest.
The situation has become so acute
that unless men can he secured at once
much construction work will be delay
ed and many of the mills will be forced
to close , sending their laborers Into
the woods. II. N. Kennedy , general
agent of the Northern Pacific Railway
Company , has a dozen representatives
scouting for men , but , he says , they
are not securing more than halfof the
number required. The Western Pine
Shippers' Association will send several
agents across the continent as far as
Maine to engage men.
W. C. Ulford , president of the asso
ciation , gave out this statement at the
quarterly meeting a few days ago :
"It will require 60,000 men to keep
20,000 men at work , and we will give
steady employment at good wages to
every man we can find. We want skill
ed labor and men of capability and sta
bility , who will not quit their jobs
every few days. To men with families
the members of our association , who
cut more than 1,000,000,000 feet of
lumber in 1906 , will pay a higher wnge
than is offered in any other part of the
United States and Canada for similar
work. The men in the woods receive
from $ -15 to $75 a month and board ,
while in the mills the scale ranges from
$3.50 to $10 a day.
"Probably the best answer to the
question of the shortage of men Is 'too
much prosperitWe cannot get men
for railroad work for the reason they
are offered higher wages in other
branches of labor. This Is felt also ,
In the clerical department , where ev
ery little while some of the employes
leave to go to better paying positions.
I have canvassed the situation careful
ly In the last ten days , and I can say
that no able-bodied man In the North
west Is Idle except through his own
choice. "
* sj Msssw * ' vs&niaHji&
p r
Gov. Hughes of New York has signed
the bill making sixteen hours the maxi
mum day's work for all trainmen or oth
ers connected with train service.
The representative of eighteen Missouri
railroads has asked the United States
District Court of Kansas City to restrain
the State from enforcing the 2-cent pas
senger rate law and also from enforcing
the live stock rates enacted by the last
Legislature The new passenger law waste
to go into effect Friday.
Unresisted by Hacriman , the Rock Isl
and Company has declared its purpose
of running the , . 'Alton system hereafter
without the. help of the Union Pacific ,
the joint control to be cancelled after a
trial period of two years. This actjon
is understood , to he due in some measure
to the investigations of the Interstate
Commerce Commission. _ . - - * . * t *
By sustaining the constitutionality of
the Dufiield act taxing second-class rail
road nropertv . n tlii > local fix rate , the
" - " " * * r T * * * " f ' * " J * * " * "
-j. M - - * ft * i m - - *
Nefr Jersey CoiTrt of Errors and Appeals
saves millions of dollars to the State ,
which must come from the coffers of the
railroads. The same principle is involved
in the Perkins law taxing the main stems
at the average tax rate , a law still before
the State Supreme Court.
Stuyvesant Fish , former president of
the Illinois Central , who had been adver
tised to address the Economic Club of
New York on the subject , "Is the Over
capitalization of Railroads an Evil ? "
recently , surprised his hearers by an
nouncing that he could not speak on the
subject because he did not believe the
railroads were overcapitalized. Henry
Clews proposed that all interstate rail
roads employ a man whose sole duty
should be to report crooked transactions
to the interstate commerce commission
and to the executive committee of the
road. It was the first meeting of the new
club composed of prominent business and
professional men. similar to one in Paris
and another in Boston , the purpose being
to discuss public interests seriously.
The Chicago , Rock Island and Pacific
railroad pleaded guilty to two of the
twelve counts of the indictment brought
by the federal grand jury at New York ,
charging rebates in favor of the sugar
trust. District Attorney Stimson said
that the government would be lenient
toward those roads which , by pleading
guilty , showed that they intended to obey
the law in future. The court imposed a
fine of $1,000 each for the two counts.
President Hill of the Great Northern is
fighting the indictment on similar charges
against his road , having filed a demurrer
alleging that the commerce act under
which the charges are brought "is dis
criminatory and " - be
cause the same restrictions are not laid
against companies transporting wholly by
water ; also in so far as it aims to pun
ish criminally the defendant for acts done
by ita agents.
James J. Hill , president of the Great
Northern , upon arriving at New York
the other day , gave to the press an in
terview , in which he said that eventually
he believed that the government would ba
forced to lend its credit to the railroads
in order to finance their necessities , based
upon the demands of the public for better
conditions of the service , and that this
would eventually lead to government own
ership of the railroads. He added , how
ever , that if such a thing comes to pass
it would mean the end of Republican gov
ernment.