( TMATTA DAILY 1VRK : TIM DAY , SKPTKMnKK f > , 1808 ,
Y
Eevenuo from War Taxoa Tar Exceeds
Wrtr Expenses ,
COST LESS THAN PROVIDED FOR
.
iNflnmtf nf Kitii-nncH I'p ( u the Clone
of Ilir ( .iii-i-cnl rUcnl Vcnr
llonil Mill * * unit Iti'M1-
nue
The cost of the Spanish war promises to bo
considerably less than the liberal provisions
tnado hy congress , relates Charles A. Conant
In the OlobL-Uemocrat , and the treasury U
nlrcaily feeling thu embarrassment of ex-
uesslvo riches. So much gold anil so many
notes nru locked up In the treasury and Its
branches that the hanks are having great
difficulty In meeting the demand for small
notcB , and legislation for reforming the
currency or reducing taxation will almost
certainly demand the attention of congnss
next winter and spring. The cost of thu
\\nr , Including the maintenance of garrl-
hens In Cuba , Porto Hlco mid the Philip
pines , until the close of the present lldcal
year on June 30 next , seems likely to drop
lielow $230,000,000. The sum of $50,000,000
V.BB . the computed coat In actual disburse
ments up to the close of June. The month
of July added about $35,000,000 to this
amount , and August about $25,000,000.
Theco combined Bums make a total of $11.-
000,000. There are many contracts which
have been executed , but for which payment
1ms not born tmidc , nnd many other ex
penses which will run on for some weeks
lit the same rate as during the period of
nctlvo operations , but the mustering out
of many of the legimciits , the cessation of
the use of costly ammunition nnd the sale
nnd transfer of vesseli of the auxiliary
licet will considerably reduce expenditures ]
during the remainder of the year. An esti
mate of $20,000,000 $ per month , In addition
to the cost of the ordinary peace establish
ment IB considered at the treasury to be n
liberal ono for September and October. The
average cost of settling the war expoiiFes
nnd maintaining Rurrlsuns during the eight
months of the fiscal year beginning on
November 1 , Is not likely to exceed $10,000-
000 per month. It might bo a trllle largei
than this during November and December
but will probably taper to a lower polnl
during the months which follow. The wai
expenses during the remainder of the Ilsca
year may , therefore , add $120,000,000 to tin
$115,000,000 already spent , making the tola
cost of the war $225.000.000.
M f ll - \ I'liui' .
Against these estimated r xppndltuics tin
government has set two In'pv Hems of ex
tinotdlmiry revenue , the 'ale of $200,000,001
in 3 per cent bonds nnd the collection !
under the new revenue la , Tlio liittc
v.ero about $13,000,000 In Julv and $12.000 ,
009 for August. If thry continue to avcrngi
$12,000,000 per month , th < - to'al collection
at the end of tin * fiscal jear will bo aboil
$110,000,000. These two largo sources o
revenue , therefore , exclusively for wn
purposes , will nffoid a total for the year o
$310,000,000 , or an excess of $105,000,00
over the probable cost of the war. Th
treasury balance on March 31 , when c\
pcmllturcs for the war Hist began to at
tain Eorlous Importance , was $22C.1CCI ! ) !
The surplus derived from thr- bonds an
the rovcnuo will swell this balance at th
close of the fiscal > cai to nl-out $331,000nO <
The fact that this amount will bo at
tained Is nlrradv well established by th
existing condition of thu tic uiy. The pro
cceds of the bonds have been i ollected t
the amount of only about $155,000 flOU , an
$15,000,0(10 ( lemnlns to lie raid The cas
balance on August 31 was $205,81 1 , SOfi , an
If the ontlro proceeds of the bonds were ic
celvcd at once , the amount would rise t
$ : UO,000.00 ( ) . This total may not bo quit
attained at any time , but a total of $325
000,000 Is very neaily In sight , nnd lit ui
likely to bo much reduced after It ' ? OIK
reached. The current monthly rccoip
from the new rc\enuc law will mote tba
pay the expenses of garrisons In tl
former Spanish dependencies and the trea :
ury will ha\u on hnnd the largest balam
of many years , consisting of more the
two-thirds In gold.
Whllo thcijo figures represent the piol
nblo history of the treasury during the r
maluder of the present fiscal year , the
are elements of the problem which m ;
ralso the cash balance to a still high
figure , If some of the surplus is not got ref
of in thu meantime. Oue of thesepiemen
Is the development of business piospcrlt
which will greatly Incredxc the collcctlo
of revenue under old laws. H 1ms be >
assumed In the preceding calculations th
the ordinary expenses of the government
lime of peace would bo exactly met fie
the proceeds of old laws. Assistant Seci
tary llowcll has already computed a sc
plus under these laws , amounting to ? !
r.52,71fl for the live mouths ending Juno la
If a similar surplus nhould continue
would add about $22,000,000 to thu trei :
ury balance at the close of June next
growing volume of Imports and nn oxpa
xlon of business actluty would -swell tl
balauco In the same manner In which t
revcnuo was swelled In the prosperous yea
duilng the latter part of
Cleveland's first administration.
Hiirplus of $50,000,000 would t
bo nn excessive estlmato for t
proceeds of old laws In a period of buslni
ncthlty. If this should occur , the treasu
woulil llnd Itscrf on Juno 30 next with
BUrpIua approaching $3SO,000,000 , and t
country would cry out In alarm o\er I
stringency of the money maiket , caused
the withdrawal of cuirency from active c
dilation. More than this , It Is not Impos
bio that the expense of ganlson service
the now dependencies will bo reduced to
ihOfet nothing by the collection of the ucc
wiry fund : ) ftotn the subject countries , fie
crnl Shatter has already telegiaphed to !
War department that ho has collvcted $ H
000 at Santiago in customs duties and na
potion charges during a part of August , < i
that the local expenses for the cuat
house ami the municipality have. been o
about $12,000. If the handsome net rcvfi
thus Indicated for Santiago should bo du |
cat cil at Ila\ana. San Juan dc I'orto It
nnd Manila , the treasury might bo relle' '
of the expenditures of $10,000,000 per moi
tet down for garrison from November
June , and another bum of $50.000,000 ad
to the available surplus.
llautirr of t'oiiKi'Ntlon.
A great congestion of money In the trc
nry llku this would carl for sweeping lei
Intlon to reduce the amount , restore
cmrunej to thu channels of circulation i
guard against cougestlou In the futi
Secretary Cage , with rhe added data
r.ardlng the situation which three in
monthi ! will plae-o in his hands , will have
opportunity to write a striking report
pu'scutatloti at the next regular sesslor
congress. He will bo able to point v
pride to the successful maintenance of
public credit by the adoption * of rcso
measures of war finance at the outset , \
the approval of congress to sketch the 01
tnoua surplus whkh has resulted from
prompt tci initiation of the war by the
rrgy of the American army and navy ,
then to take up the problem of the fu
financial policy of the United States and
dependencies. Readjustment of the w
scheme of taxation BO as to give the grra
freedom to trade' between the United St
and friendly powers , without Impairing
tenuity of un > ' American Industry , am
as to substitute the mure successful of
Mamp taxes for tariff taxes which arc
longer necessary , or which are unproducl
with the enlargement of our banking policy ,
eo ns to make It comprehensive enough to
Rlvi- American banker * the control of bu l-
np 'Mi lusted by Atnerlcnns In the new de
pendencies in nil parts of the worM. will bo
within the scope of the subjects requiring
present consideration. It U probable that
the secretary will recommend the retention
of the Increased tnx on beer , and some of
the stamp totes , but will suggest the repeal
of a portion of tin stamp tuxes.
The clnsMfleatlou tnado nt tlio Internal
ravcnui ) bureau of the Issues of stamp * by
denominations and classes shows thnt the
proprietary stamps sold during July had a
face value of only $2GoOGbO , which was less
thnn a single Item of the documentary
Btntnps. The abolition of the ptoprlctary
stamps Is not unlikely to be among the
recommendations of the administration at
the opening of the session of congress
Among the documentary stamps the best '
n suits were afforded by the sales of stamps
for $10 , for $1 , for DO cents , for 2 cents and
for 1 cent. The ' 'amps for the larger
amounts are those used on charter parties
and manifests and can well be paid by
vessel owners nnd shippers. Among the
stnmps for small nmounts the bulk of the
2-cetit stamps which were Issued In July
to the number of 8fi,20l,000 , with a face
value of $ l,72lOfO , wcro used upon checks ,
anil this tax will probably be continued ns
long as any of the stamp taxes. The l-ccnt
! stamp upon express packages nnd tele
graphic dlBpntchcs yielded $73CfilO. Unless
the entire series of stamp taxes Is repealed
without discrimination the amounts afforded
by the different taxes , aa Indicated by the
denominations of the stamps , will afford a
valuable guide In determining the legisla
tion of the future.
Ciirrciic.v mill llnnliliiu.
The future currency and banking problem
of the country opens up wide vistas if the
United Slates proposes to compete upon
equal terms with Great Drltaln aud other
commercial nations. Ilrltlsh banks , with
capltnl derived entirely from Grrat Britain
and head oHIrcs established In London ,
dominate the exchanges of Asia , Aft lea
and South America. Such Institutions as
tho'Hong Kong and Sli.uiRhal Banking roi-
poratlon , with a paid ujc.ipit. . . ! of * 10-
OdO.OOO nnd deposits of more than $100,000-
[ ' 000 ; thu Standatd Bank of South Africa ,
the London nnd Hlv r Plato bank , tnc
l London Hank of Central Amerlc.i , have
concentrated the commerce of the world In
London , and made the British capital the
center of exchanges. A banking policy
which will permit the banks of this coun
try to establish branches throughout the
world and to l.cep pace with German and
Russian capitalists in the competition with
Great Britain will bo necessary If the
United States Is to become' n world power.
Great Britain In Its banking regulations nt
home puts narrow restrictions upon note
Issues , but Its colonial banks have been
left free to Issue circulating notes where
such u policy would contribute to .ho ex
pansion of their business , nnd the notes of
British banlvB circulate in Peisla and Tur
key , us well ns South America and South
Aft lea.
It Is evident that United States bond"
will cease to be adequate as n basis of c r-
. culation Jor the note Issues of the ne-v
banking B > stem. Secretary Gage will
. therefore , have an opportunity to renew his
- recommendations of last year , that banks
,
be permitted to Issue a certain proportion o
their notes upon their business assets , but
10 will be able to give a thrilling setting of
lolitlcal and economic development In thee
four quarters of the world to the prosaic
ilcture of financial development at homo
u
which ho painted In his report of a > eor
ago. The majority ot the house commit
tee on banking already have upon the calcn-
Inr a bill which accomplishes a part of what
may bo necessary to permit American bank
ers to enter unfettered upon the race for
the control of the world's exchanges. This
bill Dermlta the Itsue of notes In limited
amounts and under proper safeguards upon
commirclal assets , and permits the creation
0
of blanch banks. Some further provisions
0
may be reculred In order to contemplate
the extension of the branches of American
lm"ks in-o Cuba , Porto Illco and the
Philippines , and the cieatlon of branches ,
If they are required , In the portions of
China which lire being opened up to the
commerce of the world , nnd In the other
: o newly openeii countries where the foresight
of German nnd Russian statesmen Is already
planting their banking Institutions by the
sldo of the older ones backed by British
capital. An epoch making report , review
ing with gratification the achievements of
the past , but pointing the pathway for a
new policy of economic development In the
future , Is thus within the power of the
secretary of the treaMirj to prepare and
for congress to put into the form of law
An overflowing surplus will permit the ap
plication of .1 lortion of the gold reserve
to the reduction of the demand obligations
of the uovernment , and the retirement of
matured bonds will afford the conclusive
reason for a basis of circulation moro
elastic and better suited than that of the
exiting law to the vista of commercial
n development which Is opening before the
Its country.
s-
sA OPPOSE AN OLD PAVING TAX
ti
tills
lls
I'liiinUlfM > < > < I'p Mirnl It enoiii for
he
.Not rn > liiK for Cellar Illoelc
is
Ir on Tlill'drUl Mrcct.
Another suit to avoid the collection of
he paving taxes almost a decade old has been
'ss ' commenced In the district court This time
ry | the parties plaintiff nio Anna Berggrcn ,
a 'Catherine ' Mullcry , George B. Dandy , Chaun-
ho ' cey II. Sheldon , Ah In fcaunders and Frank
he i II Montgomery. Their petition against the
by clty was filed yesterday afternoon.
lr- They set forth that they are a majority
sl- of the property owners of paving district
In ' No. 210 , for which in 1SS9 nn aggregate
iltnx levy amounting to $13,322 was made
for the paving of North Thirtieth street ,
from Bristol to Spauldlng streets , with ccdat
ho blocks , nnd that the petition presented to
4the clt > council nt the time was signed
v'i- j by a largo number of persons who vvcrt
ml . not property owners there Thev also object -
ject to the tax on the ground that It In
cluded $ JISO for grading und $167.73 foi
me the salary of the city Inspector , which , thej
ill- aver , made the tax excessive , Illegal am
Ice void. The cost of the paving was to havi
, 'cd been $2 OJ per square yard. A second causi
Uh of action Is as to the curbing. They there
till fore nek the court to set aside the taxe :
led and restrain the sale of their propcrtj
contemplated In the customary course o
tax collection.
as-
Sort lorn Are "Not .N
SAN FRANCISCO , Sept. 8. The Unite
'
States steamer Albatrots has arrived In poi
( l
tuoho days from Acupulco. It left here
.
ire. short time ago bound for Cocoa , where Car
re- tain Curtis was ordered to protect the In
ore i terests of American citizens. A few day
an i after the Albatross Balled from hero th
for British gunboat Leander had reuchcd Cocc
, of and by prompt action Its captain not enl
1th adjusted the rights of both British an
'
, , , American cltlze'ns , but practically wound u
' . the revolution. The Alb-atroes put Into Act
pulco for coal and there found orders I
ilth return to San Tranclsco without delay.
lor-
the Vllcnipt to Sulm the Cliniinel.
i'n- Kngland , Sept -Krni
and llolnios of Birmingham left Dover nt 9 :
uro this monilnp In nn attempt to swim tl
. . . channel , lit was iieeompunled by n rev
, , i boat.
tiolo
test ! captain Matthew Webb , thKiifilh
lies swimmer , once Hwiun from Dover to e'.iln
, i Kranie lln was In the water twcnty-oi
1110 Incurs anil tweiity-nv > minutes and roven
I fo about llilro-llvo m.U'U. nlthnuKli the ill
the lance iH-twcpii thu two countrli * Is 10
. MtU-rubl ) lfSi ! bb Mub eoufntl > lost li
1 " ° j.fe while uttimptnii to t.wim through tl
We , Niuearu rapids
Sale
Begins
Saturday
New
Fall
Suits
'wo ' floors stacked with New Fall Suits and Overcoats
' and Overcoats to be sold
$50,000 worth of Men's Suits
early We will not wait , but will start in Saturday with a regu Sale
lar old-time BARGAIN GIVING SALE. ?
Begins
Men's Black Worsted Suits $5.00 Nobby Brown Cheviot Suits $7.50- Saturday
Cut in 4-buttoii Sacks oi' the fancy basket pat Made to lit as well as our better suits tailoring
tern and # oods that retail usually dl right the right colors the
for 8S and ? 10 we make a starter 4 ? right trimmings and * M .
at $ . " ) .00 We expect to sell not guaranteed right * *
les-tf than 501) ) of these suits Saturday
New
Men's Fine Cheviot Suits $6,00 Black Clay 8uits $8.75
Fall
An e very-day business suit for 00 Frocks , Hound Corner Sacks and
§ IUK ) suitable for any business Straight front Sack Suits Ke- Suits
moinbor , all wool Dluck C'luy Uro s
or i > rofc"iic > ! iil : min and worth n t ! e--s than
$111.1.10 you cun pick them Saturduv sit Suit pi ice
Blue Diagonal Cheviot Suits $9.00 The Standard Cheviot $10.00
Double or Single Breasted. Double breasted sack 4-button cut Sale
Price $9.00 away sacks 3-button frock suits
Worth $15.00
$18 worth of the best clothing ever Begins
The drawing card of this
QTC alest o made for 810 Look the market allover
sale col0r guaranteed absolutely Saturday ]
over Saturday morning then come to
all wool trimmings the
( j
the Continental and
best SI5 worth foi$9 Hon
ask to see this suit , .
on Saturday . . . .
New
Second Floor devoted entirely to Overcoats ,
Fall
Great Opening Overcoat Sale on Saturday.
Suits
$8.00 , $10.00 , $12.OO ,
Sale
20 cases of Men's Derbies ,
on sale Saturday at 95c Fall Trousers are all on the table Begins
ready for your judgment ihe prices
Table * 50c , Saturday
All our remnant Hats from last
8-cii nn s on Kilo at . "iOc , some worth 81.50 ,
Minv worth i > 2.nO , and sumo as hiirh as
JH.OO broken lot- , broken s/i s next to
giving them away U our Satimluy prioo
New
N. E , Cor. N. E. Cor. Fall
wpjii 15th and Douglas , 15th and Douglas ,
13M.M . Omaha. OHIO ha. Suits
* &
COXTROL OF THE PARR BOARD \
Doctrine of Homo Hule to Be Applied to that
Comm ssiou as Well.
OBJECT OF THE PENDING ORDINANCE
Illy roimcll ( ii'ltiUK lleiuly t T.M
rlnf UH Aiitliorll > III CamHie
Siiir < > tiir Court AllouH Hit
Di-ciMliiii to Mlllill.
Although at the last meeting of the city
council an ordinance was introduced which
provides for the appointment of the members - |
bers of the lioard of Park commissioners j '
by the mayor and city council , It Is not
likely that nny attempt will be made to
enforce Its provisions , even If It Is passed
by that time , until tue supreme court l
finally decides the Fire and Police Commis
sion case. The same legal principles are
Involved in both.
The proposed change In the manner of
appointing the park commissioners Is in
tended tn have this department conform
to the decision handed down by the supreme
court In the Fire and Police commission
case. This declares In substance that
Omaha Is entitled to homo rule that the
boards which transact its business oball be
appointed by itself nnd by no other par
ties. At present the members of the board
are appointed by the judges ot the district
court and It Is held by the
council that these judges should have no
more of a linger In their appointment than
the governor in the appointment of the
° fire nnd police commissioners.
There is also another reason that has had
something to do with the council's proposed
action. The park board , without regard to
40 the personnel of Its members , has always
10 been a very Indeperdent body. It has seen
v- i fit to alwavs expend the money set aside
i for Its use as it thought best , and It pays
I , little or no attention to any suggestions of
s. the council. Inasmuch as the city father *
> ° figure that they are held responsible for oil
; , . the city funds , they wish the board to ben
n- placed mori under their cont'rol
IH If the supreme court decision is favorable
le In the tire and police caie , and the ordl-
passes , it Is not probabh1 that nny
great ihauRc , if any at all , will be mailo in
the picsi-nt bo.ud. The piesent board con-
p | tb of Messrs. Ilaates. Cornish. Palmer ,
\Vharton and Evans.
1lorlulll > Miitlstlc-N.
The following bliths and deaths were re
ported to the health commissioner during
the twenty-four hours ending at noon yesterday - (
terday :
nil ths Fred Slama , 1707 ieavcnworth ,
boy , Peter Hch , Eleventh and Dominion ,
girl" , Paul Waack , 1 ! > K ! South Sixteenth ,
girl ; W. E Oarey , 22.3 Noith Twentieth ,
gill ; U. n. IJarber , 1I3S North Twentieth ,
boy.
Deaths Ilaby Gray. ciposltlon grounds , 1
month ; Frank Larson. 1S12 Lake , 23 years.
Ciinlriiclx lor Fiit'l.
The Advisory Hoard lias awarded the fol
lowing contracts for furnishing the city with
fuel during the coming year : Hard coal.
Coal Hill Coal company , $0.71 per ton. Kock
Spring bituminous coal for use ot tire en
gines , Martin & Johnson. $5.60 per ton ; sofu
coal for use In the engine houses. C. B.
Havens & Co. , J3.SO. The contract for fur-
nUhlng steam coal was not awarded , as the
board desires practical tctts to be made be
fore nny coal Is accepted.
Cll > Ilitll Not.-n.
L. F Johnson has secured a permit to
erect a } 7"0 dwelling near Forty-seventh
anrl Decatur sticets.
Mayor Moores has not > et signed the
resolution by which the council nppioprlated
$1.000 for repairs cu unpxved streets nnd
joUO for weed cutting. He Is expected to do
EO soon , and as soon as the resolution
reaches the Board of Public Works that
body will at once put the necessary men
to work.
Nn\al llrirtM < * ( iiilnu Homo.
NEW YOUK. Sept. 8. Five hundred mem
bers of the Illinois naval iesur\cx taken
off forty-two different vessels on which
they tervcd during the war with Spain , left
the Pennsylvania railroad depot in Jersey
City today for Chicago. The men are ex
pected to arrive In Chicago tomorrow after
noon.
( ioM-rnmi-iil WorUmnii Driinnril.
LU1EUTV. Mo , Sept iA ya\sl with
fifteen men In it , emplojfd on the govern
ment work being done at Liberty Landing ,
capsized In the Missouri river William
Stockholm was drowned and several of the
, others were carried i-nder a dm boat nnd
i narrowly escaped with their lives
r\MT/\i irr n i o i P/II i I PTMH
RIMIAER AS A COLLLIFOR
COLLLIFORi i
East Sti Louis Man Bound to Have What is
Due Him.
COMPELS CASHIER TO MAKE OUT A CHECK
I'lnn AVorUx All ItlKlit I'ntll Hf At-
tfiniilN to Got It Cuilit-il Oill-
CITH at the llimitVnlt -
liiK for Him.
CHICAGO , Sept. 8 William II. MacFar-
Inne , of the horse commission firm of Mnc-
Farlane & Evans of East St Louis , today
walked Into the office of Louis Ncwgnss &
Son at the stock yards here , and presentIng -
Ing a revolver at the head of Louh N. Ncw-
gass , the junior member of the firm , com
manded him to send for his cashier , Frank
Moselcy. Upon the nppcarance of Mojeloy ,
MacFarlnne drew another revolver and or
dered the cashier to draw a check in his
.favor for $10.416 , which he said the firm
'owed ' him. When the cashier bad finished
making out the check MacFarlone calmly
Instructed Ncwgass , at the same time giv
ing a menacing flourlnh to his weapons , to
ut'lx his signature to the paper. That done ,
the man from East St. Louis lined the two
frightened men up against the wall of the
ofllce and with all solemnity of a judge
at the bar administered an oath to them ,
to the effect that tney would not attempt
to follow him or raise an outcry. He then
left , after stowing bis revolvers nnd the
check In his pockets. As soon ns the visitor
had left the office , however , Mopeley and
Nevvgnsa telephoned police headquarters
what had happened
The check was drawn on the National
Live Stock bank and Captain Laven Imme
diately dispatched two detectives to the
bank. MucFarlane waa standing at the
cashier's window with the check In his
hand when the officers entered. He was to
_ intent on exchanging the paper for cur-
i rency that he failed to notice the detectives
until they stood one at each elbow anil
seized him. MacFarlane wag quickly dis
armed and a few minutes later was behind
the bars of a cell at the police station
The $10,416 , which McFarlane attempted
to collect by intimidating N wgass and
"Topelcy , is paid to be the amount due Mc-
Farrane in consequence of a sale of horses
to the Detour Commission company. ' The
transaction ti said to have tokcu place
some time ago , when the t'lmo was sut for
the pa } menu of the money fifteen days after
the delivery of the atock. Lnter , It Is ab-
Fortcd the time for payment wab cut down
to live days , whereupon the Defour com
pany transferred Us Interest In the deal to
Ncttguss & Son. McFa'lane ffnrcd ho would
como out loser In t'he tianefcr and chose
summary tactics to get even.
TERMS OF CONSOLIDATION
_ _ _ _ _ _
I'Vdcrnl Slorl C'oiniinii- Hair Knor-
IIIOIIH CaiiltnllziKloit lluy I'ji
1'roiKTtlfN Wanted.
CLEVELAND. Sept. 8 The Iron Trade
Review this \uck says The vailous
committees that have been at work on de
tails of the Minnesota Iron-Illinois Steel '
consolidation have made good progress In
the last week , and It Is expected that olll-
ccrs will be elected nnd that the Federal
Steel company will be a working corporation
by the end of the month.
Minnesota Iron company stockholders will
exchange 100 shares of their stock for 13.1
shnrej of preferred and IDS of common stouk
In the Federal Steel company. Illinois Steel
company stockholders can exchange 100
shares of their stock for 100 shares of pre
ferred and eighty shares of common In thn
Federal Steel company. Elgin , Jollet &
Eastern railway stockholders can exchange
100 shares of their stock for S7Vi shares of
preferred and eighty shares of common
' In addition , all these stockholders pay $25
per share for Federal Steel company pre
ferred stock. This means Minnesota Iron
company stockholders glv 100 shares of
their stock and $3,375 for 13j snares of pre
ferred and 10S shares of common stock In
the Federal Steel company. The cash pnld
thus far for preferred stock will bo used
In purchasing a two-thirds Interest in the
stock of the Loraln Steel company. The
Federal Steel company , It la understood , will
not buy the properties of the various com
panies that are to bo merged In It , but will
buy the stock of these companies This
obviates the neceislty of buying out all thn
stockholders The latter cnn sell or not , aa
they elect. Only a controlling Interest In
the vtock of t-ach company U necessary ,
but the Federnl Steel company will tx-
I change lib stock on the basis stated above
for nil stock In the vnrlour rompj'plrs thnt
Is offered. Thus 'lie ' Individual companies
will retain their corporate powirs.
Commenting on the Joneo mixer patent
nt PlttsburK , the Iron Trade Review says
The decision In the United States court
on the Jones mixer patent Is ono of
far-reaching Importance to the htcel manu
facturers of the countrv The common use
of the direct pioccss by Hesscmer .Steel
works and the economies resulting from
the Interposition of u hot metal reservoir
between the blast furnace nnd the con-
verier have madeIt an almost Indlspcneablo
adjunct of btecl making In this day of cheap
fcteel nnd close competition. If the de
cision just given shall be sustained In the
court of last resort It can bo appreciated
that enormous tribute will come to the
Plttbburg company In roultles and penal
ties and thnt by so much will Its competi
tors bo handicapped In the nice for cheap
est production.
PROTEST ON BAPTISM OF WINE
Wuiurn of W.'C. T. r. Wlnli lliittle-
lilp Illlnoli Chrihlf licit
vi llli Water.
CHICAGO , Sept. S The following let'or '
was sent from the National Women's Christian -
tian Temperance union headquarters today
to Miss Nancy Letter , who Is to chrl-itcn
the " "
battleship "Illinois
CHICAGO , Sept & Dear Mndamc In be
half of the 300,000 women of the Women's
Christian Ternpcrarce union of the I'nltei !
States , and In particular of the lfi.000 of our
number In Illinois , we respectfully request
you to christen the battlu hlp Illinois , not
with champagne , but with pure water We
would call your attention to thu fact thnt
the battleship "Kentucky" was christened
with water from the Lincoln spring , and wo
feel thut there are enough historic stream * In
our own slate to make Biuli an act must np
proprlutcVe also fit I sure thnt It would
bo far-reaching In Its Influence * for temper-
aneo and righteousness.
W know you will appreciate the spirit
In which this letter Is written , and will not
feel that wo have- taken an undue liberty.
Very ulncorely } ours ,
KATHEIUNE LEXTE STEVENSON
Corri'dpondlug Sccretuiy.
HELEN M HAKKKH. Treasurer
Tonight Lawn Fete 20th und Dodge fits
a' ' rcsldcnro of ( J M H tchc ick , for btn fit of
\ lulling Nurse association and Ouiutm
Creche.
